5% loophole trick caveats

Archi_Bald

vikpaw wrote: »

The table i believe is about a single person's eligibility right?

The table has a column called "How many can you have?", in which it is made very clear that some accounts must be joint if you want to have the max number listed. What is there not to understand?

vikpaw

Archi_Bald wrote: »

The table has a column called "How many can you have?", in which it is made very clear that some accounts must be joint if you want to have the max number listed. What is there not to understand?

The table is a single individual's eligibility, apart from the TSB row, which is for a couple, and slightly inaccurate. My understanding or misunderstanding is that I think TSB only allow 2 per person.

Freecall

vikpaw wrote: »

I should know better! Just thought I was being helpful.:beer:

Actually I think the correct response is :

Oh yes it does!

:beer:

vikpaw

Freecall wrote: »

Actually I think the correct response is :

Oh yes it does!

:beer:

I beg to differ

Thrugelmir

SallyG wrote: »

Why are some banks luring us in/allowing us to dip in and out - with these current account deals but apparently don't want our ISA cash -what's the advantage for them?

Customer share. At some point in time in the future the current account market will change. Like the vast majority of current accounts globally they are funded by a monthly charge. Question is which big bank will break ranks first.

Freecall

vikpaw wrote: »

I beg to differ

Is this the five minute argument or the full half hour?

:j

aussiescall

Does anyone know If I'm setting up standing orders as suggested in the article Day 1,2,3,4,5 etc, Can they literally be one day after another? Just wondering if there's ever a case (eg bank hol/weekend) when you could have money leaving one before it has arrived. So if you happen to have a balance less than what you are transferring you could go overdrawn. I'm assuming if one S.O. is delayed due to bank hol/weekend they all would be.

*Rainbow*Warrior*

Forgive me for not reading all the T&Cs first but please could someone tell me if I were to open one of these bank accounts in order to get the high rate savings account... can you then get more than one savings account?

Say if the bank account was a joint account would that allow each named person to open their own savings account?

Thanks

Herbalus

*Rainbow*Warrior* wrote: »

Forgive me for not reading all the T&Cs first but please could someone tell me if I were to open one of these bank accounts in order to get the high rate savings account... can you then get more than one savings account?

Say if the bank account was a joint account would that allow each named person to open their own savings account?

I can't say I have the faintest idea what you're on about, or from where you understand that there is a 5% savings account linked to a bank account.....

TSB and Nationwide pay 5% on some of their bank accounts. TSB allow you to have 2 single and 2 joint, and Nationwide allows 1 single and 1 joint.

Herbalus

aussiescall wrote: »

Does anyone know If I'm setting up standing orders as suggested in the article Day 1,2,3,4,5 etc, Can they literally be one day after another?

I wouldn't say so. SOs need to be at least 3 days apart to avoid the problems you mentioned.

All my SOs are on the same day because I have, say, £2500 in Nationwide and £2000 in TSB. That means it doesn't matter where the money leaves first because there is enough in there to cover it, and it will be made up the same day.

If a SO is set up for a day which is a Saturday, and one for the Sunday, both will leave on the Monday, which can cause problems.