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Christmas Saving Schemes
theianfox
Forumite 45 Posts
My mum and her friend used to use a Thrift club run by the local British Legion to save for Christmas. This is the last year the club is going to run the scheme and so from next year they need to find another way of saving.
The payments are approximately £10 and £20 per week.
I suggested a traditional post office savings account but they no longer exist, the new accounts are either for a minimum of £500 initial investment or they're operated on-line. Both of them are over 70 and although my mum has an iPad she's not confident enough to use an on-line account and her friend doesn't own a computer so those accounts aren't going to be feasible for them to operate.
The post office Christmas saving scheme only allows you to spend the money in certain shops. Only one supermarket that I can see is signed up for the scheme and it's not one her friend can get to. Plus they'd really just like the money in a cheque or cash form.
Ideally they need somewhere local they can make deposits in cash.
Any suggestions?
The payments are approximately £10 and £20 per week.
I suggested a traditional post office savings account but they no longer exist, the new accounts are either for a minimum of £500 initial investment or they're operated on-line. Both of them are over 70 and although my mum has an iPad she's not confident enough to use an on-line account and her friend doesn't own a computer so those accounts aren't going to be feasible for them to operate.
The post office Christmas saving scheme only allows you to spend the money in certain shops. Only one supermarket that I can see is signed up for the scheme and it's not one her friend can get to. Plus they'd really just like the money in a cheque or cash form.
Ideally they need somewhere local they can make deposits in cash.
Any suggestions?
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I did this with Lloyds TSB, didn't have to have a sum of money going in regularly and have a small amount transferred to it every payday as savings. They also give a debit card.
The simple ideas are the best !!!!!!
and we will never, ever return.
Now we discussed this option right after I caught her dipping into an envelope with some money in it she'd put aside to pay the gardner.
The answer is a very big no apparently.
They do still exist!
Before I found wisdom, I became old.
http://www.moneysavingexpert.com/banking/credit-unions
(assuming they are in the same location as you, I just googled 'Cheshire credit union' and a there are a couple in the area.)
https://online.ybs.co.uk/savings/regular/christmas-saver.html
A few small building societies have had similar schemes.