instant access savings with faster payments?

stringer_bell

Hi All,
Can anyone tell me the best ( highest interest ) account that can send faster payments from? I have a northern rock account, but can only transfer out with BAC's, is there any instant access saving account with faster payments?

LittleVoice

stringer_bell wrote: »

Hi All,
Can anyone tell me the best ( highest interest ) account that can send faster payments from? I have a northern rock account, but can only transfer out with BAC's, is there any instant access saving account with faster payments?

Not strictly a savings account, but Lloyds Vantage current account pays 3% on balances between £3K and £5K (nothing on any amount above £5K) and less on balances below £3K. FPs are up to £10K.

Only drawback could be need to move £1K through the account every month in order to receive any interest.

Rufus_Dufus

Marks and Spencer and Tesco both have faster payments both ways.

Milarky

Rufus_Dufus wrote: »

Marks and Spencer and Tesco both have faster payments both ways.

Interesting. But M&S seem to have a 'made up' limit on withdrawals, which I don't like the look of:

We may set limits on payments you can make from your account. If we do we will tell you the applicable limit when you make a payment. Your consent to making a payment will also be your agreement to the limit that applies to that payment. We will make payment limits available to you if requested.

So it could be back to the old Halifax ways of: ''Can you guess what the limit is? Can you,can you?'' or it might just be they don't want to print it in the T&Cs specifically. Does anyone use M&S who can say what the limit is?

alanq

...and Tesco's problems with it's new systems (as documented in other threads) are far from over and therefore not to be recommended either.

NatWest eSavings has Faster Payments out and is reliable but only pays 1% at present.

10_66

M&S Money are only paying 2.35%, so not the best. According to their website they're a wholly owned subsidiary of HSBC Bank plc, so I don't know whether HSBC's Faster Payments terms would apply.

jamesd

LittleVoice wrote: »

Not strictly a savings account, but Lloyds Vantage current account pays 3% on balances between £3K and £5K (nothing on any amount above £5K)

Is that nothing on a balance of £5,001 or interest only on the first £5,000 and nothing on the remaining £1?

opinions4u

jamesd wrote: »

Is that nothing on a balance of £5,001 or interest only on the first £5,000 and nothing on the remaining £1?

The latter. If your balance is above £5k interest is still earned on the first £5k.

rob_2512

stringer_bell wrote: »

Hi All,
Can anyone tell me the best ( highest interest ) account that can send faster payments from? I have a northern rock account, but can only transfer out with BAC's, is there any instant access saving account with faster payments?

I would like to know too, please!!

jamesd

Don't know about the best but Tesco's account with yearly interest payments offers Faster Payments in and out with a decent £10,000 limit.

AndyJ52

jamesd wrote: »

Don't know about the best but Tesco's account with yearly interest payments offers Faster Payments in and out with a decent £10,000 limit.

Thanks! That's handy to know.
Have Tesco's resolved the recent problems they've been having with their banking operation? I've lost track of what happened with that.