Monthly saver

zak2012

can you have more than one monthly saver ? i know you cant have 2 with same bank. but can you have another with other banks? thanks

HappyMJ

zak2012 wrote: »

can you have more than one monthly saver ? i know you cant have 2 with same bank. but can you have another with other banks? thanks

I've only got 5 regular saver accounts...must get more..

First Direct, HSBC, Lloyds, Nottingham and TSB.

zak2012

HappyMJ wrote: »

I've only got 5 regular saver accounts...must get more..

First Direct, HSBC, Lloyds, Nottingham and TSB.

sorry but why on the bank webistes say u can have only One Monthly Saver?? im confused? do they mean only with them but you can open more elsewhere? thanka

badger09

zak2012 wrote: »

sorry but why on the bank webistes say u can have only One Monthly Saver?? im confused? do they mean only with them but you can open more elsewhere? thanka

Yes, they mean you can only have one with them.

Or, more accurately, you can only have one at a time, with them. When it matures you can open another - assuming they're still offering them :cool:

zak2012

badger09 wrote: »

Yes, they mean you can only have one with them.

Or, more accurately, you can only have one at a time, with them. When it matures you can open another - assuming they're still offering them :cool:

so its ok if i open another monthly saver with Nationwide if i already have HSBC as well.? how tax works?tha ks

HappyMJ

zak2012 wrote: »

so its ok if i open another monthly saver with Nationwide if i already have HSBC as well.? how tax works?tha ks

Forget about the tax. Regular saver accounts will pay out next tax year and it's all paid gross with no tax deducted.

If you fill out a self assessment then you just enter how much interest you earned and they'll figure out how much tax you owe. Under £1,000 of interest and it's all tax free if you're not a higher rate taxpayer.

LXdaddy

zak2012 wrote: »

sorry but why on the bank webistes say u can have only One Monthly Saver?? im confused? do they mean only with them but you can open more elsewhere? thanka

It would be pretty draconian if a bank prevented you opening an account with a different bank.


Yes the restriction is on the number of accounts of a particular type that you can open with that particular bank.