Nottingham Building Society - 1.55% Instant Access Account

EachPenny

paul235 wrote: »

Does it allow for a small test amount or require £1000 to open the account ?

If it is anything like their previous eSaver accounts, any payment less than the minimum opening balance of £1000 will be bounced back.

I got round this by sending a test payment, waiting for the bounce back, then phoning them to ask whether the money had appeared in the right place.

luiza8

paul235 wrote: »

Does it allow for a small test amount or require £1000 to open the account ?

No, it needs to be at least £1000. I called and enquired.

To make withdrawals you have a code card, which from the information I gathered from the rep is a list of codes and you have to enter a code when you make the transfer. She said once it becomes Beehive this may be removed. Funds can only be transferred to the nominated bank which is reassuring - the same as Marcus.

I was looking into opening one of these accounts, however on my current easy access savings of £10k it is only an additional £5. I'm going to hold off and wait and see what the reviews of the account are like before I jump ship from Marcus.

k6chris

Mine has gone through after 2 hours, phew. Simple to open the account, even if the (current) website has something of the ninties about it!

quirkydeptless

I'm waiting for the 1.56% that will inevitably get launched by a challenger bank soon...

Or shall I wait for the 1.57% that tops that? Hmmm...

djpailo

EachPenny wrote: »

Depends on your requirements - I need small lumps of money during the month to top up accounts which have DD's going out of them, and a big lump of money at the start of the month to service all my regular savers.

For the former situation, genuine instant access is ideal as I can do the transfer from savings to the (linked/hub) current account, and from the (linked/hub) current account to wherever it needs to be, all in a single session.

The start of month 'lump' is regular and needs to be available on the 1st of the month. It is big enough to make it worth the effort of holding it in a higher interest account and thinking ahead and initiating the transfer a day or two in advance of when it will be needed.

It is also a relatively recent occurrence that instant access accounts are paying the same as/more than some of the interest paying current accounts. For many of us that will probably lead to a rethink about the way money is spread around.

Yes I am in a similar position. Its great news that instant access saving rates are climbing again.

Wheres_My_Cashback

:rotfl: Marcus :rotfl::rotfl:

roddydogs

Just as ive opened Marcus, doh!

TUVOK

My experience of the Nottingham B/S. was that it was very slow and dated.
I am going to stick with Marcus, I've found it to be an excellent site, with clear and fast service.
For the increase of 0.05%, not worth changing.

colsten

I'm having some fun and games with them. My application went through alright, as did the original deposit. However, they are unable to send me my login details as GMAIL apparently blocks all emails from Notts BS. Calling them is a bit of a hit and miss - I have been cut off mid-call three times now.

I used to have accounts with them before and they were fine then, so I am still sticking with them for now.

Stompa

luiza8 wrote: »

To make withdrawals you have a code card, which from the information I gathered from the rep is a list of codes and you have to enter a code when you make the transfer.

That sounds like the system they used on an old Nottingham BS account that I used to have. It just consisted of 10 pairs of codes, each of which looked something like:

System code: kZ5-ek
Response code: Ae5-xF-5v4

so they would display 'kZ5-ek' (say), and you'd have to enter the corresponding response code.