A bit of advice needed please

Legacy_user

I have two methods of saving my money. I use my banks' online saver to sweep any money i may be able to save from my housekeeping into. It pays 4.75% (I think), providing i have a minimum balance of £250 in there.

I also have the Halifax higher interest account. Up to now, i have been changing the standing order on a monthly basis and every month every penny i save is going into the Halifax.

Now that means, although the online saver is useful, i am not getting any interest at all that month as i never can save £250 in a month.

Now my dilema is, do i carry on doing what i am doing, forfeiting a months interest at 4.75%. Or is it better to keep £250 in my online saver, and whats left over, shift over to the Halifax account?

lipidicman

Sounds like you need a saver that pays a reasonable rate from £1, like INGdirect. Although this might be hassle as the sweeping will take several days.

Why not use the halifax websaver at 4.9% (£1+ without cashcard) and pay the standing order from there to the halifax regular saver. The only hitch here might be the Halifax's 'new money' clause - though in effect they are still getting the same money! You could try asking in branch - but you will have more luck on the RegSaver section of the phone helpline. Good Luck