Icesave vs. HiSave - a few questions 29 April 2007 at 8:50PM in Savings & investments 3 replies 853 views

littlevet1

Hi all
I've just opened a new HiSave account and am now wondering if I'd be better off with an Icesave account. I have a couple of questions about the running of both accounts so at the moment am not sure which is best for me...

- I gather that the HiSave account can only have one linked current account from which it can receive funds. Is this also the case for the Icesave account? I have more than one current account and would like to be able to just send money without having to go via a specific account

- Can I set up regular payments from Icesave to the linked current account (I don't seem to be able to do this with HiSave..is it possible?)

- For Icesave, if the account balance falls below £250, do I not receive interest until I increase the balance, or would I lose all interest for that month?

Many thanks

littlevet1

littlevet1

Have found the answer about interest... (From the T&C):

"In the event that the balance of an account falls to below the
specified minimum for that type of account, 0.5% gross interest will
be paid until such time as the account balance returns to or exceeds
the minimum permitted."

Suzey

littlevet1 wrote:

- I gather that the HiSave account can only have one linked current account from which it can receive funds. Is this also the case for the Icesave account? I have more than one current account and would like to be able to just send money without having to go via a specific account

You can have up to three nominated accounts with Icesave.

littlevet1 wrote:

- Can I set up regular payments from Icesave to the linked current account

Yes.

Suze

Nigel1

You might be better off looking at IceSave. I've only made three transactions so far with ICICI and they have all gone astray until I chased them. They seem to be having technical problems so I'm looking now at Icesave.
Good luck!