Birmingham Midshires 6.3% Savings Account ("Online Saver")

Special_Saver2

I don't think anybody has reported this account before - I cannot find any references to it searching previous threads.

Birmingham Midshires have an online savings account paying 6.30% - see here. Unlike their "WebSaver" 6.20% account, this rate is not inflated by any introductory bonus. It seems to operate like the Alliance and Leicester 6.30% offering and HSBC's 6.25% account in that you do not get any interest in the month of any withdrawal.

Birmingham Midshires is a division of the Halifax. That may mean that money transferred to and from a Halifax High Interest Current Account (or other Halifax account) gets transferred instantly or within 24 hours as happens with Sainsbury's accounts (also operated by Halifax). If anybody has experience of transferring between Halifax and BM then please post below.

For other people's experiences of BM, see this thread.

whizzing

I have had saving with BM for a few years and really like them. When you see they have a better interest rate than you are currently getting you just have to phone up and they move it to the better rate that day and send out a confirmation letter. You just need to check their web site every so often to see what is their best rate. They are never that far behind other rates and it saves all the hassle and lose of interest in keeping moving from one bank to another.

Thomas_Crown

Special_Saver2 wrote: »

Birmingham Midshires is a division of the Halifax. That may mean that money transferred to and from a Halifax High Interest Current Account (or other Halifax account) gets transferred instantly or within 24 hours as happens with Sainsbury's accounts (also operated by Halifax).

Remember that HBOS is a banking group or parent company. Halifax & Bank of Scotland are run as seperate financial institutions. It is actually Bank of Scotland who operate Sainsbury's Bank from their head office in Edinburgh. Halifax despite the name, is based in Leeds.

BabyDragon_2

Hi,

I've just found this company when looking for another high interest paid monthly account for my savings and one of the first things you need is an account that accepts direct debits and has a chequebook - I have an account that accepts direct debits but chose to have no chequebook for higher interest and to save the trees - my question please is do you need to send a cheque to open the account with Birmingham midshires??

I hope not but can anyone with experience of this please let me know asap

Thanks in advance
Trace

chris1

Hi, yes, they insist on a cheque to open.