Barclays "Everyday Saver" vs. "E-Savings Reward"

Jew

Thank you getmore4less and ColdIron! Those were the replies I was looking for

I've transferred all of the money from the Everyday Saver to the E-Savings Reward.

Now to figure out if it's better or worse than the e-ISA of NatWest?

I've had the e-ISA for a few years, so it no longer has any bonus.

I just opened the E-Savings with Barclays.

Jew

atush wrote: »

If you want a card with good rates abroad, look at Nationwide. But is a BS not a bank. Which might be a problem for you if you are only considering highstreet banks.

I think you are asking too much when you can just call your bank and ask the rate, or go to their website. If you wanted advice about a better place for your money (as said, a rate of at least 2.7% shoud be sought), then the links provided gave you what you needed.

I do agree that Santander are cr*p, but the UK bank is seperate from the parent. And you could have considered the other UK institutions in the link.

Santander has the worst customer service: http://www.moneysavingexpert.com/news/banking/2012/02/santander-worst-for-service-and-first-direct-best-mdash-again

I've seen Nationwide around. What exactly is a BS? There's a branch near where I live, so it's not a problem. I don't care about high-street or not.

atush

Building society. So doesn't have shareh9olders that require a cut of the profits.

If your ISA is out of the bonus period you need to transfer it elsewhere to get good interest. So go to the ISA forum, and ask or look at the MS links. Then choose from those that allows transfers in (some just take new/this years money). Do not attempt to transfer it yoursef, but ask the new bank you use to do it for you. If you do it yourself you will lose the tax free status of those funds.

Put a note in your calendar to review these accts before their bonus period ends.

getmore4less

Jew wrote: »

Thank you getmore4less and ColdIron! Those were the replies I was looking for

I've transferred all of the money from the Everyday Saver to the E-Savings Reward.

Now to figure out if it's better or worse than the e-ISA of NatWest?

I've had the e-ISA for a few years, so it no longer has any bonus.

I just opened the E-Savings with Barclays.

Don't forget Barclays have monthly saver which gets 3.25% and 3.03% on months you take money out so you can migrate the money to that at £250 today and start the SO on 1st so have £500 in a few days

Barclays ISA is a tracker 3.05% 1% bonus no penalties for taking money out. handy if you think base rate is going to move.
(note new money only so can't put ISA money into that one)

So within the Barclays fold you can improve it a bit.

once on-line is set up you can do most of it there and shuffle stuff around.

ColdIron

The response from Barclays is that e-saver Reward does give the better interest even if you withdraw every month, the reason is that it is an online account only so can only be operated by you, not via a branch or telephone banking

Gromitt

Jew wrote: »

LOL! Really? :P

I mean, I'm sure they have them open — they probably just don't use them?

I opened one for a Barclays/Woolwich offset mortgage. It now has £0.01 in there, but I can't transfer it as apparently the minimum is £1, and I don't feel like transferring £1 in and taking £1.01 out. Doesn't seem worth it somehow, so its just sat there collecting virtual dust. The amusing thing is that Barclays still send me a monthly statement for it! (I thought that was the idea of e-Savings - meaning online only?)

Jew

getmore4less wrote: »

Don't forget Barclays have monthly saver which gets 3.25% and 3.03% on months you take money out so you can migrate the money to that at £250 today and start the SO on 1st so have £500 in a few days

Ah, thanks. That looks pretty good!

So there seems to be no penalty for taking our early?

http://www.barclays.co.uk/Savings/Regularsavings/MonthlySavings/P1242558327055

Barclays ISA is a tracker 3.05% 1% bonus no penalties for taking money out. handy if you think base rate is going to move.
(note new money only so can't put ISA money into that one)

Are you talking about a different one here?

So this one has 4.05%, but what do you mean about the new money? I don't have that much money to transfer, a few thou.

Jew

ColdIron wrote: »

The e-saving Reward is:-
1.25% on months you do not withdraw
0.85% on months that you do withdraw

It seems that the NatWest e-ISA is better:

http://www.natwest.com/personal/savings/g2/isas/e-isa.ashx

"2.00% AER (variable) if your balance is less than £10,000"

Does that include any bonus? I don't see any mention on that page..

I wonder if this is the rate my current e-ISA with NatWest has... I've had it for years.

opinions4u

So this one has 4.05%, but what do you mean about the new money? I don't have that much money to transfer, a few thou.

No. It pays 3.05%. 1% of that is a bonus so it will fall to 2.05% at some point.

FinancialindependentIN6

For cash you want to save but also get you hands on quickly I can't see better than the Santander: 3.2% AER