Investment/Savings advise for £thousands needed unemployed status

bery_451

atush wrote: »

If a non taxpayer, you fill out a form and give it to your bank and you will get your interest w/o tax.

We have said the highest rates are with some current accts. If you want less interest, feel free to try a savings account or isa instead.

Yes whats that form called? Can I do it online or do I have to go in branch?

AndyT678

bery_451 wrote: »

Yes whats that form called? Can I do it online or do I have to go in branch?

The form is an R85 and TSB seem to want you to take it into a branch. Some banks will let you do it online.

bery_451

Art_Contrary wrote: »

R85. Tell the bank you're a non-taxpayer when you apply for the account and they'll send you one. Or download one from gov.uk and send it to the bank.

When I applied for the TSB account online there was no mention of a R85 form.


Ok do I get the interest per calendar month or monthly from the date I opened the account? I got an email 2 days ago from TSB stating my application has been successful. Is this the day when my account was opened?

Eco_Miser

bery_451 wrote: »

When I applied for the TSB account online there was no mention of a R85 form.

The mentions seems to have disappeared from several pages, but it's still at the bottom of this page http://www.tsb.co.uk/plus-apply-now/ and in the T&Cs pdf (which you should have read before completing your application).

bery_451 wrote: »

Ok do I get the interest per calendar month or monthly from the date I opened the account?

Neither. It's almost calendar month, but adjusted to avoid weekends and bank holidays.

bery_451 wrote: »

I got an email 2 days ago from TSB stating my application has been successful. Is this the day when my account was opened

I think it's usually the day you applied, but I'm not sure, and it doesn't really matter.

bery_451

Ok so what you saying is for the 1st month of my account I wont get the full interest?

Eco_Miser

bery_451 wrote: »

Ok so what you saying is for the 1st month of my account I wont get the full interest?

You'll get the full interest that you are owed, which is less than a full month's interest.
Interest is always calculated on a daily basis, at 1/365th of the gross annual rate per day.

bery_451

Im also interested in this account as well:


http://www.bankofscotland.co.uk/bankaccounts/vantage/


But I live in England not in Scotland so that means if I want to withdraw more than £300 in a day or theres a run on the bank I have to go all the way up in Scotland?

Eco_Miser

Maybe (there is a branch in Berwick on Tweed). If you can't just transfer the required money to an English bank (eg Halifax) by Faster Payment, then withdraw the money from your local branch.

bery_451

I need help filling in the R85 form. In the declarations part of the form which one do I tick or is the person that's filling out the form on my behalf does this part?

bery_451

Anyone can help?