Savings account for my dog!!

blondie5883

Hi,

Im looking at setting up a savings account for my dog instead of getting out insurance for him. He is an ex work dog and work will cover any previous conditions he had before retiring.

Im wondering what is the best type of savings account to set up for him? Im looking at putting around £50 a month into the account.

Any help will be muchly appreciated

Blondie

vart400

As it's only £50 a month I wouldn't bother with a savings account as the interest will be so little it won't be worth the hassle.
Just get a jar and add to it every month, it's easy to get to in case of emergency and won't be as difficult to set up.
Plus they don't let dogs into banks so he won't even be able to make a withdraw. His paws will be too big to use a cash machine so he will need to go inside for most things. If he's a guide dog that could get round the problem but that would mean you accompanying him and having to invest in some dark glasses.

Lokolo_2

vart400 wrote: »

As it's only £50 a month I wouldn't bother with a savings account as the interest will be so little it won't be worth the hassle.
Just get a jar and add to it every month, it's easy to get to in case of emergency and won't be as difficult to set up.
Plus they don't let dogs into banks so he won't even be able to make a withdraw. His paws will be too big to use a cash machine so he will need to go inside for most things. If he's a guide dog that could get round the problem but that would mean you accompanying him and having to invest in some dark glasses.

Erm...not very sensible advice is it? Someone's had a bit too much :beer:

Why would you add £50 to a Jar in your house, this is not exactly safe, it would be best in possibly an instant access savings account (check the Banking/Saving tab at the top of this page for the latest ones) This way you can access the money should your dog have any health issues and you can deposit as much or as little as you like.

Oh, and little interest is better than NO interest, isn't it? :j

6022tivo

http://en.wikipedia.org/wiki/Animal_euthanasia


Go out and spend it.

agsnu

vart400 wrote: »

Plus they don't let dogs into banks

https://www.metrobankonline.co.uk/Community-box-pages/Dogs-Rule/

C_Mababejive

Will you be looking for a Bonus account?

steady__eddie

Being a fan of classic Ealing comedies, I quite like the direction in which this thread is going but from a slightly different perspective from which the op intended.
I am wondering if there is anything specific in HMRC regs which confines the payment of tax solely to human beings ? What is to stop the dog opening an account via its owner and a power of attorney, (or an enduring power if the dog shows any signs of senility).
Given that the dogs earnings were below its personnal allowance, any interest could then be paid gross.
I recall a vaguely similar scenario some years ago over the pond when American taxpayers complained rather vociferously over the payment of income tax on the grounds that nowhere in legislation had it been enacted that income tax was payable !
Before anyone mentions it, yes, I do know that I need to get out more.

onetreehillgrrl

Barklays or Nat Westie

ILW

Is the dog a standard or higher rate taxpayer?

lidlest

Don't do this, I thought I would do this and then if my dog never needed it there would be a nice savings pot.... 6 months later, I only had £300 in it and doggy needed £1000 worth of treatment. Insurance all the way.

chris_m

onetreehillgrrl wrote: »

Barklays or Nat Westie

Whichever, you want one where you can Winalot :beer: