Bradford + Bingley 6.40% AER Internet Saver

Secret_Wookie_2

Just heard from a friend that Bradford + Bingley have been working on
a new Internet Savings account paying 6.40% AER due to launch sometime this week.

No more details at this stage but could be worth looking out for as it could potentially beat Sainsburys and Ice Save.

Secret Wookie

wombat42_2

Secret_Wookie_2 wrote: »

Just heard from a friend that Bradford + Bingley have been working on
a new Internet Savings account paying 6.40% AER due to launch sometime this week.

No more details at this stage but could be worth looking out for as it could potentially beat Sainsburys and Ice Save.

Secret Wookie

There may be some strings attached.

roddydogs

Yes B&B are in a similar position to NR!

Gordon_the_Moron

No Bradford and Bingley are not in a similar position to Northern Rock, they have not applied to the Bank of England for an emergency loan and they have not had a large percentage of their deposits withdrawn by 1000s of customers, their shares have lost about 15% of their value. Alliance and Leicester have lost around a third so there position looks worse. I would be extremely surprised if any of them go under (to the point I would risk my own money in any of them) but even if they do unless you have over £35000 you are protected. I have money in Bradford and Bingley and it ain't moving anywhere.

This account sounds good if there are no strings attached, and if there are it still may be good depending on what they are.

Secret_Wookie_2

Found the details. I can't see any strings other than a max balance of 100k.

I will be moving my money out of Sainsburys into this and earn an extra 0.15%.

http://www.bradford-bingley.co.uk/savings/product/internet-saver.asp

wombat42_2

It wouldnt surprise me if ICICI bumped it up in response as I think they feel they have to be just a smidgen ahead of every UK bank or building society to woo customers otherwise people just wouldnt find any incentive to pick a foreign Indian savings provider in preferance to a home grown savings provider.

equitydealer

I'll be shifting my cash from A&L on the 1st October if nobody else can beat B&B's new account.

I was expecting Northern Rock to offer a savings account at around 6.5%-6.75% but nothing yet...

PauliPauli

just to say if your an existing B&B customer only takes few mins to open account just make sure that;

1) You're not logged in when applying online
2) choose cheque payment and no need for nominated account

Account will appear next day alongside existing account, and you can transfer between them

roddydogs

with sainsburys, you can nominate several a/cs, probably B&B only 1(to pay to)

equitydealer

PauliPauli wrote: »

just to say if your an existing B&B customer only takes few mins to open account just make sure that;

1) You're not logged in when applying online
2) choose cheque payment and no need for nominated account

Account will appear next day alongside existing account, and you can transfer between them

When I've done this in the past, the account has appeared immediately

ukdutypaid

Withdrawal is to one nominated account only, plus it has the same need for a DD to be set up (just like ICICI, to you you 'haters' lol).
So it's not quite got the flexibility of the Sainsbury's account...
Have a think, before you all pile out of Sain's account. Esp if you're using it to fund reg savers etc....

On the plus side along with ICICI that nominated account thing, does provide an extra level of security....