Regular Savings Accounts

bsms1147

polymaff wrote: »

Oh dear, the challenge is to root out the illogicality of some of the correspondence. Here goes:

The ONLY way you gainsayers could be even a smidgeon right is if you planned to put a year's-worth of monthly payments in a non-interest-bearing account and then slowly bled it into the regular saver.

But you wouldn't be that daft, would you?

ceredigion

polymaff

Some gentle assistance:

Gainsayer: One who contradicts or denies a statement

The OP contradicts/denies both First Direct's and MSE's statements.

Now do you twig which side I'm taking a poke at?

Been a long day, eh?

planteria

i kind of thought you were trying to be on the side of those who understand, but i wasn't sure;)

polymaff

planteria wrote: »

i kind of thought you were trying to be on the side of those who understand, but i wasn't sure;)

That is why I fleshed-out the OP's procedure - that would, indeed, give a return of much less than the advertised 6% - and then pointed out how foolish that procedure would be.

Congrats on having doubts. No such doubts amongst the dim-wit responders, though. That's life.

planteria

i do understand 'the problem' that some people have with Regular Saving Accounts, and overall, i'm not a great fan. i have found them to be more hassle than they are worth in some cases...

but, lately i have usually been feeding into them from interest-generating current accounts, and using them to generate a small lump sum for a specific purpose, such as to clear a 0% credit card balance.

patientperson

Anyone opening a M&S current account with just £1 in order to access the 6% saver?.

Archi_Bald

If you never had an M&S Current account, you would most likely want to switch for the £100.

planteria

if not, perhaps some should do pp;)

the M&S account sits alongside the First Direct one, in the HSBC stable. i have the HSBC version, and is the only one i have which is not fed by an interest-generating current account.

planteria

Archi_Bald wrote: »

If you never had an M&S Current account, you would most likely want to switch for the £100.

that's a second reason to open one then Archi:) does having an HSBC or First Direct account cause a problem, or are you still regarded as a 'new' customer?