More questions than answers perhaps I'm trying too hard!

polymaff

YorkshireBoy wrote: »

Doing the former eliminates the need to do the latter.

Oops, you're right. Definite over-kill - and doubly foolish as I do it right, but described it wrong.

Abestar111

LXdaddy wrote: »

The "or" after each , means that satisfying any ONE of the criteria is sufficient to avoid the monthly charge.


When I originally opened the FD current account and monthly saver I was moving £1,000 in then sending £300 to the Regular saver and £700 back. But a helpful person pointed me to the third option of holding one of the additional products.

OK, you've got my interest what might an additional product be LXdaddy? And would it be a monthly payment, instead of £10 monthly fee?

LXdaddy

LXdaddy wrote: »

The "or" after each , means that satisfying any ONE of the criteria is sufficient to avoid the monthly charge.


When I originally opened the FD current account and monthly saver I was moving £1,000 in then sending £300 to the Regular saver and £700 back. But a helpful person pointed me to the third option of holding one of the additional products.

OK, you've got my interest what might an additional product be LXdaddy? And would it be a monthly payment, instead of £10 monthly fee?

See page 6 of Account Terms and Conditions Effective from 1 October 2015 http://www1.firstdirect.com/content_static/pdf/account_terms_1015.pdf

Under 1st Account heading... A £10 monthly banking fee applies for each month (or part of a month) ... but isn't charged...
see 3rd bullet
if you hold a ...

Abestar111

xylophone wrote: »

[/B]
Not so. http://www1.firstdirect.com/1/2/rates-and-charges/banking-charges

A savings account in addition to the regular saver should suffice to have the fee waived.

Halifax HTB x2 @£12k each You cannot deposit this as a lump sum.

The young adults in question need each to set up a sole HTB - £1000 to start then £200 a month by SO thereafter.

You mean £2500 in the Flexdirect I assume - this will open the flex regular saver to you.

3 x BOS Vantage might be a possibility.

Lloyds Club has a regular saver.

Thanks for your helpful response Xylophone.
1.When you say saving account do you mean current account in addition to Regular Saver to have fee waived? You will note the discussion above re - additional product.
2.HTB Halifax, aware of what's needed my query is about setting up a funding mechanism - where's the best place for a sizeable lump sum of £12k in order to pay £200 per month?
3. Thanks for the Lloyds Saver reminder, when I applied yesterday for their current account at the end I was invited to apply for a saver which was less than 1%. So I need to follow up with the Club Saver.
4. Gave up with BOS it could not be processed as no Scottish branches nearby. Weird or what?!

Abestar111

LXdaddy wrote: »

See page 6 of Account Terms and Conditions Effective from 1 October 2015 http://www1.firstdirect.com/content_static/pdf/account_terms_1015.pdf

Under 1st Account heading... A £10 monthly banking fee applies for each month (or part of a month) ... but isn't charged...
see 3rd bullet
if you hold a ...

LXdaddy you are such a tease, or just really clever! So which one?:j

LXdaddy

Abestar111 wrote: »

LXdaddy you are such a tease, or just really clever! So which one?:j

Cor you sound like my daughters! They always got annoyed when I didn't just tell them the answer.


The third bullet point contains a list of products separated by commas and ors. So any one of the product listed will mean the £10 fee is not charged.

Abestar111

LXdaddy wrote: »

Cor you sound like my daughters! They always got annoyed when I didn't just tell them the answer.

The third bullet point contains a list of products separated by commas and ors. So any one of the product listed will mean the £10 fee is not charged.

Clever as well as being a tease! Brilliant. Thanks.

Any other commentary from my original post welcome.

polymaff

It'd probably be a good idea for you to post an updated version, Abestar111

LXdaddy

Abestar111 wrote: »

Clever as well as being a tease! Brilliant. Thanks.

Any other commentary from my original post welcome.

I'm assuming that you have visited http://www.bankaccountsavings.co.uk/ and have you checked out https://forums.moneysavingexpert.com/discussion/5374614


The first link misses the latest Nationwide 5% account and doesn't include Regular Savers.


It's not clear to me how much cash you have that you are looking to put into the interest paying current accounts. Also is the money going into regular savings accounts "new" money each month or is it drip feeding from the current accounts?


You've ruled out joint accounts but you have two young adults that you are "gifting" 12K to. Do they give you an option of joint accounts? That could be a big step so don't let me push you.


As polymaff says it may be best to post a new list with your current thinking.

Abestar111

Aware I need to do an update, other aspects of my life have recently taken over.
I've asked my 2 daughter's to sign up to TESCO current account so I can put in £3000 each to fund a HALIFAX HTB ISA. One daughter has used her home address- family home where she rollover lives- Tesco approved it but are asking for copies of utility bill (obviously different address) and passport. surely this will cause difficulties? Trouble is in her job she has moved addresses. Tesco advisor has told her this won't be a problem as long as she provides copies the 2 documents. My recent experience with banks is that you end up with conflicting information when you ring for clarfication.

At the risk of sounding pathetic , I still have £60k plus pension lump sum left sitting in FD Current account, even though I have taken some baby steps. Will provide update as per suggestions. In meantime please advice 're TESCO. Thanks in advance.