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Post Office Online Saver - suitable?

Hi all.

I've just finished A-levels, and am still living at home at the moment. As a result, I have pretty low and predictable outgoings from my current account. I like to get the best rate possible, and Lloyds' online savings accounts aren't paying the best instant access rates. The Post Office account is currently top of Martin's list, and I was wondering if someone could confirm whether:
  • It is openable by an 18yo with no fixed income
  • I can easily transfer money in from, and out to, my Lloyds current account
  • I can abandon/close it at any time w/o penalties

I should also mention that I don't pay tax at the moment, and I don't want to fix my money.

All this appears to be the case from the T&Cs, but if someone could just confirm it for me, I'd be very grateful.

Thanks :beer:

Comments

  • Marco12452
    Marco12452 Posts: 178 Forumite
    All the details of the requirements should be shown on the comparision sites.
    See - http://www.moneysupermarket.com/savings/easy-access-accounts/ - as an example.
    This shows Post Office as top with no major requirements. Others above have limited withdrawals.
    PO account is online only, if you need more options ING is online and telephone. try a few sites, there may be the odd difference, but most will be similar.
  • DrSyn
    DrSyn Posts: 898 Forumite
    Part of the Furniture 500 Posts
    Have a look at ING Direct Savings Account (for one year only).

    Remember do not get taken in by the highest interest rate.

    Quality of service,security of funds and speed of transfers should be taken into account. Best of luck!
    Look up the saving rates at:

    www.thisismoney.co.uk

    www.moneyfacts.co.uk
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