Regularly Beat the Best Savings Account Rates Discussion Area

Megalomaniac

For the Abbey Fixed Rate Monthly Saver, you have to pay by standing order. However, it is not clear in the terms whether the amount you pay in can vary (by modifying the standing order). On the application form it asks how much you "intend to save" each month, but was wondering if you wanted to up it in 6 month time to the maximum of £250, could you do this without penalty?

It says in the terms that additional deposits are not allowed, and the only way you can pay in is via standing order. The t&c's are here:

http://www.abbey.com/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1178831893382&cachecontrol=immediate&ssbinary=true&maxage=3600

Hope someone can help! Thanks

stphnstevey

I have the YB RS and I opened it at 7% around a year and a half ago now as was told it would be 7% for the life of the balance - is this correct or are they variable?

mary

Variable and now 6.6%
http://www.ybs.co.uk/savings/interest_rates/regularsaver.jsp

shelleysho

The other day I went to withdraw some money from an A+L Directsaver account and found that there was a £25K maximum daily withdrawl amount which I found a little worrying given that A+L is often mentioned after Northern Rock.
It's alright having great savings rates until you need the money in a hurry.
Is this daily withdrawl limit common practice now amongst banks, it wasn't well publicised when I initially opened this account.

Paul_Herring

shelleysho wrote: »

Is this daily withdrawl limit common practice now amongst banks, it wasn't well publicised when I initially opened this account.

There is *a* daily withdrawal limit with most, if not all, banks, but the limit is usually sufficiently high not to worry the vast majority of customers.

dadsarmy

Best time each month credit regular savings account?

Nationwide

Leeds Building

Others

Thanks for advice to date

RayWolfe

Why not "at the earliest opportunity"? If the rates are good and you have the money, why would you delay?
Answers on a postcard, please!

derbyjon

Ideally you should always schedule BACS transfers for a Monday, to avoid losing additional interest if your money is between accounts over the weekend.

However this is obviously not possible if you have to use a fixed date each month.

BenL

stphnstevey wrote: »

I have the YB RS and I opened it at 7% around a year and a half ago now as was told it would be 7% for the life of the balance - is this correct or are they variable?

I also thought this account was fixed up high but I only have minimal paperwork for it now, I also thought it was a 1 year account.

I will get the 6.85% for most of it, applied 1st May 08? as it was opened 01 May 2007 and the conditions met.

I was planning on using just over 1/2 the amount for the next years ISA allowance as I thought the account would be matured and closed.

Looking at the YBS.co.uk website it looks like the account will just keep going.

hhmmm, better have a look around anyway for any better rates after the year is up.

mary

The rate is 6.6% now and is variable