The Top Easy Access Savings Discussion Area

sparkyspark

chris1 wrote: »

??? but you can have several internet accounts...


??? it is possible to move money between accounts but you won't get the higher 3.25% interest rate. If you have done it this way, can you tell what interest rate you're getting?

Yes but according to the egg advisor last night, the online process should have flaged me as an existing customer and denied me access to the online registration until I'd moved my money out as I was an existing customer, so therefore not new money. I was also told last night by the egg advisor that you can open only two active accounts for the new 3.25% account in your own name, one in sole name and one in a joint account and thats it.
I funded my new accounts as I said in my original post by opening the new accounts online first and then funding them by internal transfer, I then closed down my old accounts and can confirm the current interest rate on my and my wifes new account is indeed 3.25%.
Anyone who had an existing account paying the previous rate of 2.80% and had opened that account on the 26th June or after they would automatticly get the new upgraded rate of 3.25%, were as mine were previous to that date and were only paying 2.50%, so i asked for eggs advice of the best way to get the new 3.25 account opened and they gave me the shortcut to do it as in my original post.
At the end of the day if the correct procedure is to move money out and back in again and fund the account that way, then that's pherhaps the best way to do it to comply with any terms set out for the account.

Katrina_311

A&L are offering an account with 6% interest for the first year only, on balances up to £2500. I already had an a/c with them but wasn't notified about it, & it's not easy to find on their website - enter the term 'premier direct current account' in the search box on their website. I can't post the weblink cos I'm a newbie .

I called today & was able to switch from my ordinary current a/c, earning almost nothing, to this one at 6%. Seems a good deal to me. It's online only, so no paper statements.

Thanks, Martin, for your wonderful website, & all the users who make it so much better. I've only been getting the emails for a few months & have only registered today. Wish I'd known about you ages ago! I keep telling my friends. :j

Steve_xx

Katrina_311 wrote: »

Seems a good deal to me. It's online only, so no paper statements.

Not as far as I'm aware, ie they do send out paper statements each month.

boobbby

sparkyspark wrote: »

Yes but according to the egg advisor last night, the online process should have flaged me as an existing customer and denied me access to the online registration until I'd moved my money out as I was an existing customer, so therefore not new money. I was also told last night by the egg advisor that you can open only two active accounts for the new 3.25% account in your own name, one in sole name and one in a joint account and thats it.
I funded my new accounts as I said in my original post by opening the new accounts online first and then funding them by internal transfer, I then closed down my old accounts and can confirm the current interest rate on my and my wifes new account is indeed 3.25%.
Anyone who had an existing account paying the previous rate of 2.80% and had opened that account on the 26th June or after they would automatticly get the new upgraded rate of 3.25%, were as mine were previous to that date and were only paying 2.50%, so i asked for eggs advice of the best way to get the new 3.25 account opened and they gave me the shortcut to do it as in my original post.
At the end of the day if the correct procedure is to move money out and back in again and fund the account that way, then that's pherhaps the best way to do it to comply with any terms set out for the account.

I did move my money out of the 2.8% account and back into the 3.25% as I noticed the interest rate was only 2.8% for accounts taken out after June and before the 7th August. Pity that Egg didnt point out that this was unnecessary. Mind I did take your shortcut for some small amounts that was still in previous Egg savings and that worked okay.

whycantitbesimple

I opened an A&L Online Saver Issue 5 and previously had Issue 4. They keep changing the rates so, infuriatingly, you have to constantly open new accounts to keep getting the best rate.

A&L accounts have another very annoying limitation for savers in that you can only transfer a maximum total of £25k per day. Previously I have been able to transfer larger amounts between accounts by telephone banking but when I phoned up today to try and transfer a larger amount (my FSCS money from Icesave - thanks moneysavingexpert for THAT top recommendation :rolleyes:) I was told that with the Online Saver accounts the £25k limit is set in stone as they are online only, you cannot move money via telephone banking.

This means that both A&L's promotional material and their welcome letter, which describe the Online Saver accounts as 'Instant Access' are, um, what shall we say ...

Steve_xx

whycantitbesimple wrote: »

I opened an A&L Online Saver Issue 5 and previously had Issue 4. They keep changing the rates so, infuriatingly, you have to constantly open new accounts to keep getting the best rate.

A&L accounts have another very annoying limitation for savers in that you can only transfer a maximum total of £25k per day. Previously I have been able to transfer larger amounts between accounts by telephone banking but when I phoned up today to try and transfer a larger amount (my FSCS money from Icesave - thanks moneysavingexpert for THAT top recommendation :rolleyes:) I was told that with the Online Saver accounts the £25k limit is set in stone as they are online only, you cannot move money via telephone banking.

This means that both A&L's promotional material and their welcome letter, which describe the Online Saver accounts as 'Instant Access' are, um, what shall we say ...

There aren't many banks/accounts that don't impose some limit on what can be moved in a day.

I note the air of sarcasm when you thank MSE for the Icesave recommendation. To that I would add that this site is here for advisory purposes and the information offered is not a directive. You are free to choose whether or not to take the advice. If MSE tells you to put your finger in the fire, you evaluate it, and knowing the likely outcome you surely opt not to do it.

whycantitbesimple

'I note the air of sarcasm'

Gosh, well done, I take it the 'sarcastic' smilie was a bit of a hint.
People take the trouble to post hepful information so you take the trouble to patronise them - well done.

Steve_xx

whycantitbesimple wrote: »

'I note the air of sarcasm'

Gosh, well done, I take it the 'sarcastic' smilie was a bit of a hint.
People take the trouble to post hepful information so you take the trouble to patronise them - well done.

People often go to a great deal of trouble to post information on here that is beneficial.

You, for your part seem to have taken advantage of that benefit and because you got burned by the Icesave fiasco you are rolling your eyes sarcastically at the information gleaned. Yet you're obviously back for more. Well it's fairly simple really; If you don't like the information offered you don't need to subscribe to it.

Nessie23

I've just come across this.

ING Direct Savings Account, Instant access 3.2% interest and interest guaranteed for a year. Minimum opening balance £1.
Account can be operated online or over the phone

http://www.ingdirect.co.uk/savings/variable_rate/default.asp

pumpkin_soup

Nessie23 wrote: »

Instant access 3.2% interest and interest guaranteed for a year.

Looks good! Does anyone know if there are any referral codes or cashback sites to go through when opening one of these? Otherwise I shall be opening direct later today.

Thanks!

Chris