MSE News: HSBC and First Direct customers to get Post Office banking

BugsyBrowne

suburbanwifey wrote: »

I opened that savings account you mention when it launched, I get 8%

So whats the maximum returns on that?

System

Great move?!

FDs Scottish customers have had Post Office access for some time...
So much for 'fantastic service' if they never even told you

suburbanwifey wrote: »

This is a great move for me! One of my homes is in a small rural village in Scotland. HSBC (who own FD) only have a couple of branches in Scotland, both of them 200 miles away from my rural home. Being able to pop into the Post Office in my nearest town will be a great addition to the already fantastic service and facilities that being a very happy customer of First Direct for 19 years has given me.

Great move! Great for First Direct customers who live in Scotland :T

pmduk

A_Flock_Of_Sheep wrote: »

What about Giro Bank?

and what about it? It's Santander now. Thatcher sold it years ago.

JuicyJesus

BugsyBrowne wrote: »

So whats the maximum returns on that?

Compared to what?

You're not going to be earning 6% in cash interest anywhere else right now.

zx2011

Just got this by email:

From 8 May 2013 you will be able to withdraw cash, pay in cash or cheques and
check your current account balance at Post Office® branches.

:T

PaulW922

BugsyBrowne wrote: »

So whats the maximum returns on that?

I would imagine that Coldiron has decided to ignore you - that seems a sensible approach to me. I'm not sure what your agenda is, but I think you should remember what this forum is for.

And to answer your question, the return on £300 a month into a 6% regular saver is in fact 6% on an annual basis and a proportion thereof for the monthly deposits for rest of the term. Which I am sure you know anyway

csreader

BugsyBrowne wrote: »

If I now throw £300 a month into first directs 6% saver can you tell me what returns I will get year 1 please?

Around £117 (before tax, of course). The first month's £300 earns a full year's interest (£18), whereas the 12th. month's £300 earns only 1 month's interest (£1.50); and pro rata for the other months.

eleanormccloy

Great news for me! love my First Direct account but live in N Ireland and not many branches, nearest 20 miles away, although I dont often pay money physically in it will save me a journey now and again!:j

wheelchair1983

Does this mean that I can deposit money into a hsbc account with my debit card and It will show up instantly, I think the co-op is the only other bank to offer this ??

SurfKing

wheelchair1983 wrote: »

Does this mean that I can deposit money into a hsbc account with my debit card and It will show up instantly, I think the co-op is the only other bank to offer this ??

Yep!

A few other banks offer it. Clydesdale Bank, Yorkshire Bank, Bank of Ireland, and certain Santander customers who came over from Alliance and Leicester can deposit at the Post Office.

Someone a few posts ago said they were worried about Post Office staff having a nosey at their account - Post Office staff can't see anything about your account or statement when you use banking services at the counter so you don't need to worry.