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What interest are you getting here?
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GingerBob_3
Posts: 3,659 Forumite
https://www.bankofscotland.co.uk/bankaccounts/vantage/default.asp
Can anyone explain the ambiguity here? If you invest between 3K and 5K do you get 3% on all of it or just on the amount over 3K?
Thanks.
Can anyone explain the ambiguity here? If you invest between 3K and 5K do you get 3% on all of it or just on the amount over 3K?
Thanks.
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Em... might have answered my own question - they make this statement:
Don't worry if your balance isn’t always that high, we still pay interest at a lower rate on smaller balances
Seems to suggest you get the 3% on the full 5K.0 -
All of it........0
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You only have one "balance"...that's the amount in the account.0
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https://www.bankofscotland.co.uk/bankaccounts/vantage/default.asp
Can anyone explain the ambiguity here? If you invest between 3K and 5K do you get 3% on all of it or just on the amount over 3K?
"Vantage is our free add-on for current accounts that pays you 3% AER (2.96% Gross) variable on balances of £3,000 - £5,000, interest is paid monthly."
Balances in the specified range get interest. A balance of £2,999 - no interest on the balance, A balance of £3,000 - interest on the balance. A balance of £5,000 - interest on the balance. A balance of £8,000 - interest on £5,000 of the balance.0 -
Just to bump up this thread: I'm looking at the Vantage account purely to invest £5K. I don't see any welcome bonus mentioned. Presumably if there was one you'd need to use the switching service anyway - which I'm not going to do.
Any recommendations? Is there a comparable account where a welcome bonus is paid, but where you don't need to use the switching service?
I should also ask, if anyone's opened this account can it be done with the minimum of fuss - no need to provide passports and the like in a branch?
Thanks.0 -
Any recommendations? Is there a comparable account where a welcome bonus is paid, but where you don't need to use the switching service?
I should also ask, if anyone's opened this account can it be done with the minimum of fuss - no need to provide passports and the like in a branch?
Don't think there are any comparable 5% current accounts with a switching bonus these days, assuming you've done what you can with Nwide FlexDirect of course (and used RAF for the bonus).
As for ease of opening it was dead easy when I opened one a few weeks ago - but that may be partly because I have accounts with halifax (effectively the same bank). If you have a Halifax account already BoS is easy to open.0 -
Just to bump up this thread: I'm looking at the Vantage account purely to invest £5K. I don't see any welcome bonus mentioned. Presumably if there was one you'd need to use the switching service anyway - which I'm not going to do.
Any recommendations? Is there a comparable account where a welcome bonus is paid, but where you don't need to use the switching service?
I should also ask, if anyone's opened this account can it be done with the minimum of fuss - no need to provide passports and the like in a branch?
Thanks.
Don't do it, you can't trust the banks0 -
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