Savinsg account with ATM card 29 October 2016 at 9:18PM in Savings & Investments 10 replies 804 views

StinkyMonkey

Any idea where I can find which savings accounts offer the best interest rates and come with an ATM card?

Thanks.

YorkshireBoy

That would require two lists, one for the best interest rate, and another for those with an ATM card but without the best interest rate.

But how about?...

1. Google (https://www.google.co.uk/?gws_rd=ssl#q=savings+accounts+with+%22cash+card%22)

2. www.moneyfacts.co.uk

3. The "best savings accounts" article on this website (see the links above and to the right)

p00hsticks

StinkyMonkey wrote: »

Any idea where I can find which savings accounts offer the best interest rates and come with an ATM card?

Thanks.

How do you define a 'savings account' (as compared with a 'current account') ?

There are many current accounts that now offer interest as long as you can meet the criteria (minimum deposit and/or direct debits)

StinkyMonkey

I am not planning to be paying X amount in every month or set up direct debits. I am looking for a 'traditional' savings account

xylophone

http://www.ybs.co.uk/savings/easy-access/index.html

Has appalling interest rate.

You might just as well open current accounts that pay interest.

markwilkinson

There is no "traditional" in the financial world these days. If you want a simple account with no DD's and funding requirement, try a Tesco current account. It pays 3% on balances up to £3k and has a debit/atm card.

YorkshireBoy

StinkyMonkey wrote: »

I am not planning to be paying X amount in every month or set up direct debits. I am looking for a 'traditional' savings account

A "traditional" savings account will pay you one fifth of the interest a "modern" savings account will pay (on smallish amounts).

If its for saving money, rather than for current spending plans (ie using a "current" account), why the ATM card requirement? For all planned spends you'd simply transfer from the savings account to the current account and use a debit card.

How much are you depositing initially?
And per month going forward?
Are you an adult? And if so is there some poor credit rating issue you think would stop you getting a high interest current account?

StinkyMonkey

£3K is to go in there with very occasional deposits thereafter.

I have too many current accounts open and would like to avoid opening another.
The ATM card will help with instant, physical access to teh money (popping at the closest TAM and getting money without going through any online transfer, worriying about access to internet etc.).

Yes, it is an account for an adult

YorkshireBoy

Post Office Instant Saver, paying 0.55% AER including 0.45% bonus for a year.

It'll only cost you £6 a month (compared to using Tesco).

markwilkinson

StinkyMonkey wrote: »

£3K is to go in there with very occasional deposits thereafter.

I have too many current accounts open and would like to avoid opening another.
The ATM card will help with instant, physical access to teh money (popping at the closest TAM and getting money without going through any online transfer, worriying about access to internet etc.).

Yes, it is an account for an adult

Doesn't make a huge amount of sense. If you have several current accounts already then you have several £k's worth of £'s earning decent interest. In that circumstance I'm not sure why you need another account with an atm card?

jimjames

markwilkinson wrote: »

Doesn't make a huge amount of sense. If you have several current accounts already then you have several £k's worth of £'s earning decent interest. In that circumstance I'm not sure why you need another account with an atm card?

Sometimes we need to go with the flow and accept that the OP isn't bothered about getting interest for whatever reason as it's already been pointed out to them. It seems bizarre to me too but that's life.

So go for the PO account mentioned and lose the additional money that you could have got instead.