NOW CLOSED - Northern Rock - 3% easy access - for those with 10K

soulsaver

ultrawomble wrote: »

Shame, I've got my money in Lloyds Vantage accounts paying 4% instant access :rotfl:

Have you not maxed the Lloyds out and got loads more left looking for an easy access while waiting for rates to improve?

Stompa

For the sake of completeness NR have now responded to my query, and confirmed that as soon as my balance gets to £10k or more I'll start earning interest at 3.00% AER.

SnowMan

Just to report for the benefit of others opening the account that the opening process (as a non-customer) has gone very smoothly.

Having applied on Thursday, I was electronically verified and had full access to the account the next day. No bits of paper to sign and return or anything like that. Was able to fund the account through Faster Payments without problems on the Friday and amount was showing as cleared by the Saturday.

And have received a letter today from Northern Rock to say account has been opened and confirming the initial deposit. Letter also sets out very clearly the different ways to pay further money in (e.g. the sort code and account number for faster payments in).

All in all very impressed with the efficiency of their account opening process :T

Has it gone smoothly for others?

claire07

I too am very impressed so far. Although it's a while since I had a internet saver with them it reminded me on the application process and opened the account very easily. I transferred money in today from natwest via faster payments and it shows immediately. This account may be the nail in the coffin for my post office online saver!

psychic_teabag

drlabman wrote: »

How long are these limited offer e-savers at NR usually available for?

No idea. When I spoke to them about the initial deposit, they seemed quite keen to emphasise that it was a limited offer. If it makes the Wednesday MSE email there may be a rush of applications. I've not seen anywhere giving a maximum delay between opening and funding the account, and I've now also had it confirmed that balance is 0.1% until you reach 10k. So if you're thinking about applying, I'd suggest doing it sooner rather than later.

chucknorris

3% = 1.8% after tax, with inflation where it is that's a real losing account rather than a savings account. I know there isn't anything better with instant access, in fact I have just put ?k into similar accounts and ?k in a 3 year bond only paying 4%.

I need to get my thinking cap on to find something better than these losing accounts.

chucknorris

ultrawomble wrote: »

Shame, I've got my money in Lloyds Vantage accounts paying 4% instant access :rotfl:

It is a shame actually because if you are a high rate tax payer your interest is less than inflation, which makes it a losing account rather than a savings account and even if you are not you are probably still losing marginally at 3.2% net.

I'm not gloating I'm a victim too, even in my 5% fixed rate bonds.

skitskut

Opened the account as an existing customer with a previous eSaver and everything has gone very smoothly. Transferred deposit in this morning, showing as uncleared 10 mins later and at lunch and then as cleared funds in the evening. Received welcome letter today also. It's not advertised as one of the 4 bullet points on their home page yet, this is still advertising issue 3 (2.5%).

SnowMan

As expected the Northern Rock account is in Martin's weekly email.

So could be pulled fairly soon.

Old_Slaphead

SnowMan wrote: »

As expected the Northern Rock account is in Martin's weekly email.

So could be pulled fairly soon.

Not sure that too many will have a spare 10 grand available around Christmas but, for anyone with a bit of foresight, it may be worth opening an account with £1 with option to add later.