MSE News: Derbyshire launches highest-paying easy access savings in 20 months

tagq2

Zorz, there's an opportunity to print out a pre-filled R85 later. But if you can't take advantage of it then I guess there's no reason to supply it. Like HMRC say: "Do not share your National Insurance number with anyone who does not need it as knowledge of your number might help someone to steal your identity."

There is a "main residence in the UK" term which they might be testing, but you can have a NINO without the UK being your main residence and have the UK as your main residence without having a NINO (e.g. an 18 year old native who has not worked yet and whose parents did not claim Child Benefit might not have been issued one).

pqrdef

Nessie23 wrote: »

However due to the new payments services directive after the 1st Jan 2012 the maximum time taken to transfer money will be 1 day http://www.ukpayments.org.uk/payment_options/cross_border_payments/regulations/ . Hence within 3 months you will get better access for your money

I don't think the directive applies to accounts that aren't classed as "payment accounts".

noh

I'm impressed with their speed of account opening.
I sent off the application on Wednesday 28th by first class post.
Received the confirmation of account opening letter today Friday 30th.
Have just logged in with no problem. Will make token deposit via FP on Monday.

noh

Zorz wrote: »

There seems to be a trend of rising rates. Good news for those with savings! :T

I have a couple of questions though. Do you need to be registered on the electoral roll to open one of these, or is the paper cheque for the initial deposit enough proof of identity? Also, why the application form asks for your National Insurance Number? Although it isn't a mandatory field, this is no ISA, I can't see a legitimate reason they're asking for this information.

They ask for your NINO because they use it as part of the ID check.

Brads_Savings

If I open one of these accounts and want to pay cash in were will I be able to do this without paying charges.?

I will need to pay in about 1500 - 2000 p/m

Chadsman

From the Derbyshire website http://www.thederbyshire.co.uk/Savings_Portfolio.aspx?id=3491

The opening deposit must be made by cheque from your nominated UK account
Future deposits paid must be made by electronic transfer from the nominated UK account or another account

There are no charges from Derbyshire for making a deposit.

Ifts

Brads_Savings wrote: »

If I open one of these accounts and want to pay cash in were will I be able to do this without paying charges.?

Derbyshire NetSaver - Frequently Asked Questions

Zorz_2

tagq2 wrote: »

Zorz, there's an opportunity to print out a pre-filled R85 later. But if you can't take advantage of it then I guess there's no reason to supply it. Like HMRC say: "Do not share your National Insurance number with anyone who does not need it as knowledge of your number might help someone to steal your identity."

Thanks. I am resident in the UK, so probably i'm not entitled to tax free interest.

I am also aware of that, unfortunately you have the same stupid situation as in the USA, where knowledge of SSN is considered proof of identity, that's why I am rather reluctant to disclose my NINO to anyone who doesn't really need it for legitimate reasons.

Which also brings us to:

noh wrote: »

They ask for your NINO because they use it as part of the ID check.

I just don't think this is right. There can't be a publicly accessible list of NINOs, like there is for the electoral roll or company numbers. Am I wrong?

nzseries1

In case anyone wonders, I sent the application off on 29 September, and application pack came through today, containing my ID documents that I sent in along with a user ID. So a four working day turnaround which isn't too shabby. [STRIKE]And the initial log on process was quick and easy. [/STRIKE]

Shame there isn't an entry in Egg Money Manager for it nor faster payments out. But the rate is 0.65% higher than my current Tesco Internet Saver so goodbye Tesco, it's been nice but time to move on!

EDIT: Scratch that, I'm getting the following message now:

Sorry, due to essential system maintenance SavingsOnline is currently unavailable.


Not a good start, Derbyshire! Maybe I won't be so hasty to close my Tesco savings account after all.

vulcan59

From the Derbyshire web site:
Due to high volumes of applications we have now withdrawn Derbyshire NetSaver (Issue 1). We apologise for any inconvenience this will cause.
If you have already submitted an online application form, we must receive your initial deposit cheque and supporting documentation by 12th October 2011.
Please act quickly to avoid postal delays