What is the best savings account for me?

lawstudent

I have recently started saving and have been using a second current account to deposit these savings. However I would now like to move these savings into an account with a better interest rate.

Basically the account needs to come with a card I can use to make withdrawals and without penalties for withdrawals. Any suggestions?

psychic_teabag

Martin has some suggestions for accounts with atm access at http://www.moneysavingexpert.com/savings/savings-accounts-best-interest#atm

Another option is a Lloyds vantage current account, paying 3% on balances of £3k to £5k.

Santander seem to link savings accounts to cards, but I'm not sure if that actually allows atm access.

Or, with faster payments everywhere these days, could keep the bulk of the money in a non-ATM savings account, and keep just enough day-to-day money in an ATM-enabled account, transferring as/when required.

Lokolo_2

I agree that Faster Payments has now made things much easier. You can keep most of your savings in an Instant Access savings account such as these and then when you need it just transfer to your current account. I do this between Santander and Barclays and it works a treat, money always appears a minute or so after transfer!