Savings accounts with Visa/mastercard?

dellboy102

Hi Guys

Looking to get a joint account with the gf to save for holidays or the eventual wedding etc, are there any savings accounts available where we can get Visa or Mastercards so we can spend quite easily or would we have to look at current accounts for that.

Thanks

Chrisblue1962

Hi dellboy102

I'd like to find same as I could use such an account for own personal day-to-day spending and just use my Co-op Cashminder account as a "Bills" account.

I know RBs used to have the Key account - OH had one - but this has now been done away with

qpop

In general, the easier the money is to spend the less likely it is to be saved.

Why not open an instant-access account that accepts faster payments in/out (I believe Northern Rock accounts now do, for example).

That way it's physically seperate from spending money, and gives you the opportunity to exercise some restraint in not spending it, yet if it's needed you can access it within 2 hours by bill payment.

dellboy102

I was looking at http://www.moneysavingexpert.com/savings/savings-accounts-best-interest , may go for the Coventry one in that case.

Only reason wanted one with cards was so we can use it for shared expenditure (meals out etc)

alanq

Yorkshire Building Society has an account with an ATM card paying 2.10%.

NatWest First Reserve has an optional debit card but only pays 0.10%.

I am not aware of an account that comes with a debit card that pays any significant interest. If I knew of one I would be using it.

I have an AA Spend And Earn Mastercard prepaid card. It doesn't pay interest, does not offer the protection of a credit or VISA debit card and is not covered by FSCS. I does however offer rewards on spending which are much higher than any interest that I could get on the small average balance I leave in the account.

Tuesday_Tenor

You might need to set up

(1) a joint current account in which you leave the relatively small amount you want to use for the more 'everyday' joint spends, for which you have a Debit card, but don't earn interest
and

(2) an joint instant access e-saver, earning interest, in which you build up your savings, but can also easily transfer into the current account when needed. This will be an instant transfer if it's with the same bank as the current account, or if faster payments are offered. Otherwise usually 3-day transfer.

Check out the MSE savings guide.