The Top Easy Access Savings Discussion Area

rb10

Searcher2 wrote: »

One downside seems to be that you can't make electronic payments in for 10 days.

I think it's just Direct Debits in to the account that you can't do within the first 10 days.

From reading the FAQs on their website, it would appear that you are still able to transfer money from your bank, using AA's sort code and account number as soon as the account has been opened.

polly_tunnel

kelou wrote: »

Hello all,
I have literally just opened the Citibank account and it was painful! Had to go through to a call centre where the chap seemed to have great difficulty understanding me and now have stumbled on to this thread and feel a bit concerned! I guess it is the worry of having given them my account details and sort code, has anyone used them before and have anything a bit less negative to say to put my mind at rest or is it all pretty awful? Thanks

They are a shambles! I applied on 3 Nov to open their saving account, sent further information online as requested in an email, waited 2 weeks, phoned to ask what was going on, after 10 mins I was asked to phone again in 2 days, just phoned again (another 10 mins wait) to be told that I need to send a certified copy of my passport in order to proceed (just ask your solicitor he said :rotfl:). But they hadn't asked for this at any stage until I rang!
Suggestion ... don't bother with Citibank.

weezie_2

I opened a Citibank flexsaver account a couple of weeks ago online. No problems, was up & running within a few days & accepting transfers of money in. I guess they have a huge number of people setting up new accounts with them right now and even if only a small percentage run into problems, that's still quite a lot of problems being reported. Their website isn't the most functional, but they're giving a good rate & are worth a try - the chances are you won't be unlucky.

Rooklands

Hi, i have about £20000 and would like to put it in a high interest rate with easy access. it will be in the bank for between 2-4 months before it is used in buying a house, can you advise what would be the best account that will earn me a monthly interest?

would the Ulster bank pathway account be the best even though i will be pulling it all out in a few months, will i still get paid interest when it is removed?

Thanks for your help.

OldGreyFox

Rooklands wrote: »

Hi, i have about £20000 and would like to put it in a high interest rate with easy access. it will be in the bank for between 2-4 months before it is used in buying a house, can you advise what would be the best account that will earn me a monthly interest?

would the Ulster bank pathway account be the best even though i will be pulling it all out in a few months, will i still get paid interest when it is removed?

Thanks for your help.

Have you read recent posts about ease of access.

Rooklands

hi yes, but just unclear weather the interest actually pays out monthly or not. most rates seem to mention yearly or daily calculations but not when is actually pays

rb10

Rooklands wrote: »

hi yes, but just unclear weather the interest actually pays out monthly or not. most rates seem to mention yearly or daily calculations but not when is actually pays

Savings accounts will always calculate the interest that is due to you based on the daily balance of the account, and, when you close the account, pay any interest that is due to you, even if it's not at the normal interest payment date yet.

So if you close an account paying annual interest after two months, you'll get two months worth of interest.

KingL

Rooklands wrote: »

hi yes, but just unclear weather the interest actually pays out monthly or not. most rates seem to mention yearly or daily calculations but not when is actually pays

Interest is paid annually, not monthly.
http://www.ulsterbank.ie/ni/personal/saving/instant-access/pathway/rates.ashx

I can't see whether this is on the anniversary of account opening or on some fixed calandar date (some other Ulster accounts pay interest annually on 1st Oct). As rb10 says, you will get the pro-rated amount upon closing the account.

hessian

I opened a Citibank account last month after seeing it posted in the MSE newsletter.

If I now check out the Citibank Flexible Saver page,
http://www.citibank.co.uk/personal/banking/saveinvest/?merchant=citi

It now states this...

With our great offer, new Citibank customers can earn an introductory rate of 2.47% variable gross p.a, 2.50% AER (including a 12 month fixed bonus rate of 1.47% gross p.a.).

Have they now dropped their rate by a large amount ?

Vegeta

rb10 wrote: »

You are not the only person on this forum who has had difficulties with Citibank over this account - if you search, you'll find numerous threads from the past few weeks with similar complaints to yours.

Up at the top, in terms of instant access are...

ING - 3.2% (but not covered under the FSCS, they have a Dutch equivalent instead)
Sainsbury's - 3.2% but only three withdrawals
AA - 3.15% (the account is operated by Birmingham Midshires, who seem to have a very good service reputation, based on what I've read on here)

I plan on opening the AA account in a couple of weeks, when my current interest rate finishes.

I don't know which one to go for, Sainsburys or The AA.