Help and advice re savings

colsten

EricDeeson wrote: »

Don't know where to tell MSE about 10% tax-free interest on savings, so I hope this forum will be OK!

The scheme's suitable for people shopping in Iceland as the savings is repaid through future shopping in their shops.

For the rest of this month they add £1 to your savings account for each £10 you save. So I'll add £200 to my savings there, which becomes £220, and that'll cover shopping till about Advent when they usually have another such deal (though only 4% interest).

What happens to your money if Iceland go bust before you manage to spend your savings with them?

Nationwide8

EricDeeson wrote: »

Don't know where to tell MSE about 10% tax-free interest on savings, so I hope this forum will be OK!

The scheme's suitable for people shopping in Iceland as the savings is repaid through future shopping in their shops.

For the rest of this month they add £1 to your savings account for each £10 you save. So I'll add £200 to my savings there, which becomes £220, and that'll cover shopping till about Advent when they usually have another such deal (though only 4% interest).

Best wishes, all - Eric

Who is the savings account with ??

Also the £36 through TCB to switch to Nationwide....has anyone actually got that reward ? Am also assuming you have to be a new customer to Nationwide to get it ??

eskbanker

colsten wrote: »

What happens to your money if Iceland go bust before you manage to spend your savings with them?

It did once before!

colsten

Nationwide8 wrote: »

Who is the savings account with ??

not with any firm that has FSCS protection. Anyone remember Farepak?

eskbanker wrote: »

It did once before!

Different Iceland, but no reason why Iceland the shop shouldn't go bust.