Any instant access saving account with good interest and using faster payments?

solentsaver

Can anyone suggest an instant or easy access savings account with good interest over 2.5% which uses faster payments sytem so I can transfer money from my main current account within hours rather than days
Thank you.

blueberrypie

Tesco Internet Saver? - paying 2.9%
Halifax Web Saver Reward? - paying 2.8% - doesn't support FP on its own, but you can use it alongside a current account (Easycash would do), using the current account for FP in/out of Halifax and instant transfers between it and the savings account.

There's info on other savings accounts at http://www.moneysavingexpert.com/savings/savings-accounts-best-interest but it doesn't give any info about whether they use faster payments.

Vortigern

Another vote for Tesco Internet Saver. Faster Payments both in and out

psychic_teabag

Halifax outbound FP are a bit temperamental - see other threads. Though seems to have been a bit better for me lately. There might be an undocumented daily limit of around £1500 or £2000 - no-one seems to quite know. I've never had any problems with tesco faster payments (daily outbound limit of £10k)

Many (most ?) savings accounts accept faster payments in these days. It's outward FP that's rarer.

Baldur

Very impressed with Tesco's Internet Saver - not only FP in & out but also the ability to set up outgoing payments up to four months in advance; very useful for funding regular savings accounts, etc.

verntern

Baldur wrote: »

Very impressed with Tesco's Internet Saver - not only FP in & out but also the ability to set up outgoing payments up to four months in advance; very useful for funding regular savings accounts, etc.

I agree with Baldur. Have found the Tesco Internet Saver slick and efficient for FP tranactions both ways on your web account. Customer Services are very professional if you need to call them. I keep as little as possible in my bank current account and switch money in out to Tesco knowing the transaction will take place same day and sometimes within the hour! There is no debit card available so best to remember that transactions can only take place on business days!

xrjtg

For moderate amounts (around £5000) the Lloyds Vantage current account is still attractive. It currently pays up to 4% (due to fall shortly to 3%), and as a current account has the full set of features that go with that, including support for Faster Payments and the ability to set up standing orders and Direct Debits.

kidmugsy

Yep, and you get a debit card with Vantage, so you can use ATMs. We've just opened one for my wife.

psychic_teabag

verntern wrote: »

I agree with Baldur. Have found the Tesco Internet Saver slick and efficient for FP tranactions both ways on your web account. ... There is no debit card available so best to remember that transactions can only take place on business days!

I thought you could FP out from Tesco at any time, and it goes immediately..? Transactions after 6pm will count towards the £10k quota of the next working day.

Baldur

psychic_teabag wrote: »

I thought you could FP out from Tesco at any time, and it goes immediately..? Transactions after 6pm will count towards the £10k quota of the next working day.

Neither Tesco or Natwest Saver (on whose platform the Tesco account appears to run) carry out FPs on weekends, neither will accept a non-working day's date.

G_M

Baldur wrote: »

Neither Tesco or Natwest Saver (on whose platform the Tesco account appears to run) carry out FPs on weekends, neither will accept a non-working day's date.

Not so. If you set up a payment from NatWest esaver on, say, a Saturday, it will show Monday as the day it will go. However when you click 'confirm' the cash goes (and arrives) same day by FPs.

It's poor wording on the payment page rather than failure to send via FP on non working days.

An additional anomoly is that the system 'remembers' the Monday date, so will not allow further payments until the Tuesday!