Savings Accounts: The Best Currently Available News!

alanq

chris1 wrote: »

Nat West e-savings 2.85% gross with 1 year bonus, operated online.

Posted in another thread.

J_B wrote: »

I just did a 'live chat' on the NatWest site asking about the 'best buy' eSaver.

"we have pulled this account 15 minutes ago" he told me!

someone

So 2.65% is the top rate for savers ... After tax that doesn't even beat the rate of inflation!

innovate

At the moment, you can still get 3% AER for instant access in current accounts. That's good for some £35K - £20K in a Santander 123, and 3 x £5K in Lloyds Vantage. You'd need to syphon off the interest each month if you max all the accounts.

You have to meet minimum monthly deposit amounts - this can quite easily be achieved by cycling the same £1K through all the accounts, plus through a Halifax, to get the free monthly fiver. Also, the 123 costs £2/mth - - you might be able to recover this from cashback on certain DDs. Also, Quidco still promise £45 for opening a 123.

The rates on these accounts are variable, so probably won't last much longer either

chris1

innovate wrote: »

At the moment, you can still get 3% AER for instant access in current accounts. That's good for some £35K - £20K in a Santander 123...

Thanks for that - do you know whether you can have a Santander 123 account as well as a 'normal' (old) Santander current account, or do you have to switch?

JohnDoe1

innovate wrote: »

You'd need to syphon off the interest each month if you max all the accounts.

Do you need to do this? What happens if you leave the interest in the account and it goes over £6k by a few pounds?

Hermanmunster_2

BEWARE I ordered on line the Natwest Esaver on the 24th of October on Martin Lewises recommendation on this web site and the paperwork arrived yesterday the 30th Of October dated the 25th of October with no mention of bonus.
Martin Lewis was extolling the high rate of this account last night (the 30th October) on his program on TV. A quick phone call today established that my account was not registered for the bonus just the standard 1%. Beware anyone opening this account putting money in thinking they would get the bonus.

rb10

Hermanmunster wrote: »

BEWARE I ordered on line the Natwest Esaver on the 24th of October on Martin Lewises recommendation on this web site and the paperwork arrived yesterday the 30th Of October dated the 25th of October with no mention of bonus.
Martin Lewis was extolling the high rate of this account last night (the 30th October) on his program on TV. A quick phone call today established that my account was not registered for the bonus just the standard 1%. Beware anyone opening this account putting money in thinking they would get the bonus.

Make a complaint - https://www.natwest.com/global/contact-us/complain.ashx

The bonus was removed for new accounts opened after 5pm yesterday, so yours should definitely be eligible (even though they have removed all sign of it from their website, even in the 'previous interest rates' section).

Whilst Natwest's general customer service is shocking, they do tend to be reasonable at resolving complaints. Make sure you get it in writing that your account does have the bonus interest on it.

innovate

chris1 wrote: »

Thanks for that - do you know whether you can have a Santander 123 account as well as a 'normal' (old) Santander current account, or do you have to switch?

I believe you can keep your existing account - haven't seen anything in the T&Cs that says you are only allowed one or the other.

JohnDoe1 wrote: »

Do you need to do this? What happens if you leave the interest in the account and it goes over £6k by a few pounds?

You don't need to skim off anything above £6K - but you get no interest on it if you leave it sitting there.

fiesta04

You can have Santander 123 and another a/c with them. Or You can just upgrade the other a/c to 123 easily. But beware you lose any extras the other a/c may have.

Also beware the 123 a/c may up the monthly charge or cut the interest rate of 3% for £3000+ which I believe they will do!!!!

F4

innovate

fiesta04 wrote: »

Also beware the 123 a/c may up the monthly charge or cut the interest rate of 3% for £3000+ which I believe they will do!!!!

They'll experience a mass-exodus if they make the 123 a net-chargeable account. So they might tweak things a little, but not massively. IMO, anyway.