Icesave account ... Account holder opinions/experiences would be greatly appreciated.

shaz77_2

Regarding the online management of an Ice Save account. I have recently transferred some money into my Ice Save account and I would like to know how long it will take for me to be able to view online the interest that it has made?

In addition to this is a security question always asked when accessing the account online?

Thanks.

jem16

shaz77 wrote: »

Regarding the online management of an Ice Save account. I have recently transferred some money into my Ice Save account and I would like to know how long it will take for me to be able to view online the interest that it has made?

Interest is marked up yearly from date of opening or monthly if you chose that option.

In addition to this is a security question always asked when accessing the account online?

Thanks.

Yes it is.

shaz77_2

Thanks for that response.

If I opted for monthly interest in preference to yearly interest rates would that mean that I could view the interest my money has made each month online.

Secondly does it effect the interest rates if I opt for monthly ahead of yearly. Sorry if my questions sound stupid.

masonic

shaz77 wrote: »

If I opted for monthly interest in preference to yearly interest rates would that mean that I could view the interest my money has made each month online.

Yes.

Secondly does it effect the interest rates if I opt for monthly ahead of yearly. Sorry if my questions sound stupid.

The interest rates are slightly different, but over the course of the year you earn interest on interest in the monthly situation, which balances things out. You'll probably earn a few pence less for monthly interest if you are a taxpayer, because you'll pay tax on each interest payment, which gives ever so slightly more to the taxman compared with one payment at the end of the year. The difference really isn't worth worrying about.

nilrem_2

Eck wrote: »

I am thinking of opening an account with this bank, can anyone tell me if their service is any good? i read a post a while ago and some people were complaining about different aspects of this bank and its service.
Also, how safe is your money with a foreign bank?

All replies most welcome.

No complaints from me so far, I am very happy with them.

AFAIAA your money will be pretty safe.

Paul_Herring

For those who haven't seen, interest rate to go up to 5.9% (from 5.65%) on May 18th - first article: http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=420200&in_page_id=7

Stompa

Paul_Herring wrote: »

For those who haven't seen, interest rate to go up to 5.9% (from 5.65%) on May 18th - first article: http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=420200&in_page_id=7

That's what it says, but surely the current rate is 5.7% AER?

Paul_Herring

Stompa wrote: »

That's what it says, but surely the current rate is 5.7% AER?

Hmm - indeed. Makes you wonder about the accuracy of the other numbers in that report.

Kazza242

Paul_Herring wrote: »

For those who haven't seen, interest rate to go up to 5.9% (from 5.65%) on May 18th - first article: http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=420200&in_page_id=7

Icesave's rate is actually increasing to 5.95% from May 18th. Thisismoney have got it wrong. Moneyfacts is showing the correct rate here.

martyn4764

Now on the Icesave site:

"10/05/07 - Bank of England Base Rate increased

The Bank of England today announced an increase in the Base Rate from 5.25% to 5.50%. Icesave is committed to offering a consistently competitive return on our Easy Access Savings Account and will be increasing the interest rate from 5.70%AER to 5.95%AER with effect from Friday 18 May."