4% AER at Clydesdale and Yorks Bank until March 2015

innovate

You can have a First Direct regular saver without the need to deposit your monthly income into their non-interest paying current account. Just pay the £300 or however much into it each month and keep the rest of your money somewhere you get interest. If a lot more people did this, perhaps First Direct would wake up and pay interest for their current account, too.

EarthBoy

innovate wrote: »

If a lot more people did this, perhaps First Direct would wake up and pay interest for their current account, too.

Perhaps they would, but I think it's more likely they would decide to limit the regular saver to "main" current account holders and impose a requirement for a minimum monthly deposit and direct debits etc.

apt

innovate wrote: »

You can have a First Direct regular saver without the need to deposit your monthly income into their non-interest paying current account. Just pay the £300 or however much into it each month and keep the rest of your money somewhere you get interest. If a lot more people did this, perhaps First Direct would wake up and pay interest for their current account, too.

As First Direct give you a free £250 overdraft there is no need to keep a positive balance apart from when feeding the £300 into the regular saver.

innovate

EarthBoy wrote: »

Perhaps they would, but I think it's more likely they would decide to limit the regular saver to "main" current account holders and impose a requirement for a minimum monthly deposit and direct debits etc.

That sounds hardly challenging. There's a fair number of such accounts in the market already, and if you really do want to have them, you can have them all. I know that many people do.

innovate

I had some bumph in the snail mail from YBS this morning. Have to return a signed form, and then allow 7 working days for the account actually to be opened, apparently.

The pack just contains general information about this and other accounts, a fee schedule and some marketing leaflets. Nothing that you can't get from their website.

No information as yet how I register for online access (it's supposed to be an online account, isn't it)

This is turning into the most long-winded current account application I have ever made.

System

Good luck with CB/YB!
They are the dinosaurs of UK banking.

They would have to be paying Wonga type interest rates for me to consider them as I value my sanity.

2shy

Just changed my CB Current Account Plus over to their new Current Account Plus. 6 minutes on the phone.

Frank121

Hi,

Has anyone successfully applied and opened a current account with YB & CB? I read earlier in this thread that they claimed it was only one or the other?

Thanks a lot.
Frank

planteria

matttye wrote: »

First direct however gives you access to a 6% regular saver that you can put £300 a month into. It'd make sense to have your wages deposited into a first direct account, then move £300 into their regular saver and the rest into another account that pays interest.

as does HSBC if you are a Premier customer, but limited to £250/m.

planteria

the £3k limit is the disappointing part of this NAB offer, for me.