TSB 5% -v- FD 8% > application hassle

noh

K_P83 wrote: »

I looked into the FD thing - you need to pay in £1500 a month.

My wages dont cover this, so TSB it is for me.

No.
There is no need to pay in £1500 a month into the FD account.
If you want the £100 incentive for opening an account then you do need to pay in £1500.
If you want to avoid the £10 a month account fee then simply deposit £1 into a savings account with them.

LongTermLurker

G_M wrote: »

During the (2nd world) war radio operators transmitting morse code could recognise each other by their speed, accuracy and style (hence London knew when an operator in France was captured and his signals were being sent by the Germans).

These days, following the enormous leaps in technological capability since then, your keyboard skills can be analysed and the attempted fraud detected.

Sounds plausable to me - I'm impressed. See, I was right in post #6 - shame on atsoc15 for disbelieving the majority concensus.

The only argument against that theory is that to get the necessary variance, he would need an analogue keyboard because, of course, digital is just on/off - OP, do you have a sine wave symbol near your "enter" key? Like this: ~ - that's the analogue symbol; a digital one would have all the uppy/downy and left-to-right bits squared off and at right angles to each other. Could you confirm, please?

Incidentally, there was a claim a few years ago that someone could read the data passing over a computer/network interface card by analysing the flashing LEDs and that was why comms rooms should be fitted with window blinds.

LongTermLurker

K_P83 wrote: »

I looked into the FD thing - you need to pay in £1500 a month.

My wages dont cover this, so TSB it is for me.

ditto noh ^^ - you can currently avoid the monthly fee by opening a non-RS savings accound (so open a "savings account", drop a quid in, open a 1st account, then apply for the 8% RS - after a year, all the proceeds of the RS get dropped into the "savings account".

atsoc15

G_M wrote: »

Oh dear! Some people have no sense of humour!

:beer::beer::beer::beer:

Nine_Lives

Let me get straight on this:

I can open a first direct current account (called 1st Account).

This will cost me £10 a month, HOWEVER....

...if i THEN open their 8.00% regular saver account & pay into it, then i WONT pay £10 per month?

That's the first thing i'd like to clear up.

I'd be using the 1st account solely to fund the regular saver 8.00% account, so £300 would go in & virtually straight across to the 8.00% account.

Have i understood it right in this case?

If so then i may opt for the FD over TSB for the extra 3.00%. The only down side is it's not as accessable as TSB's it seems.

Cash-Strapped.T32

K_P83 wrote: »

Let me get straight on this:

I can open a first direct current account (called 1st Account).

This will cost me £10 a month, HOWEVER....

...if i THEN open their 8.00% regular saver account & pay into it, then i WONT pay £10 per month?

That's the first thing i'd like to clear up.

I'd be using the 1st account solely to fund the regular saver 8.00% account, so £300 would go in & virtually straight across to the 8.00% account.

Have i understood it right in this case?

Not quite right but very close.

The reg-saver does not count as one of the "selected other products", which removes the £10 charge for holding a 1st Account.

The basic Savings Account however, is.

When you apply for the 1st Account there is an option to open one of several other accounts, one of which is the Savings Account.
Just stick a quid in it on day one & forget about it forever if you like, then do exactly what you were planning to do;
And incidentally, exactly what I will be doing too, as soon as the 1st account comes through.

This isn't info that I have gone far out of my way to pick up, it's all discussed in more detail in the specific 8% Reg-Saver thread on this board.
Best of luck mate.

Nine_Lives

Thanks a lot fella.

I don't suppose you've any idea how long it takes FD usually, to set up the accounts?

I'm guessing approx 10 days?

Cash-Strapped.T32

funny you should ask...

I applied on-line on the 2nd Nov & my chequebook (I ticked the option to request one on the hard-copy application form) arrived today.

So that's exactly 10 days, including sending out the hard copy forms through plus return trip using the pre-paid envelope, so that's not a bad guess..

So far, so smooth - I've not had to go out of my way in any fashion.



Funny thing is though, after returning the form I did not receive any letter confirming the account opening or any correspondence at all - I am left to infer that the account is actually now open because my new chequebook has a sort code & acc-number.


Oh, plus it seems I have a £500 overdraft despite requesting none at all online - When the letter paper form came through, I filled it in but noticed that they had auto-filled £500 in the overdraft facility.

I was at work so I couldn't just ring up then & there, so I filled in the rest of the form & made a note to ring them later in the day.
In the end I clean forgot to ring, & simply posted off the form with my daily work-post.


From that I can only presume that the £500 O/D that I didn't cross off is also valid - How nice is that?
Bank cocks up & gives me an extra £500 o/d facility, cheers. :beer:

I would assume though that since the account advertises a £250 interest-free O/D than only the first £250 of mine is interest-free.
Still, nice that the !!!!-up has swung in my favour for once, even though I don't intend to use the o/d at all (the account is mainly a vehicle to fund the reg-saver I will shortly be applying for.

MarkFromCornwall

K_P83 wrote: »

Thanks a lot fella.

I don't suppose you've any idea how long it takes FD usually, to set up the accounts?

I'm guessing approx 10 days?

I've just opened a current account with them. After 8 days I had online access, phone banking and a debit card, I'd made small trial payments in and out and I also opened a monthly saver. A chequebook arrived on day 9. I'm impressed.

Nine_Lives

Not bad at all. I sent my application off. Going to do one for the gf now.

Don't you have to cycle £1500 in order to gain £100 though? Cycle £1500 for 3 months or something like that?

Not bad to be dumping my cash in a fairly decent rate for a change.

For the elder members of the board, what's the highest rate savings/ISA account you have invested in? I've only recently started paying attention the past year or so.