The Top Easy Access Savings Discussion Area

Mr._H_2

Middle_Sister wrote: »

I went on the Santander site but could only see 5% current account on £2.5K. Has the 6% one been pulled?

Looks like it

Oh well, 5 is still more than 4, and those who already opened an account will be getting 6% (the deal is fixed interest for a year)

Note that at the bottom of the info box for the account it says "if you switch using the Account Transfer Service.", however, this condition only applies to the interest-free overdraft. You get the 5% interest whether you switch or not.

cashbackproblems

Are there any online instant access accounts paying interest monthly rather than annually, the best ones i can see at the A+l, Tesco and AA all paying approx 2.75% but each pay interest annually.

Im currently with icicic but their normal online account only pays 1.7% but monthly and isnt tht competitive anymore!

Mr._H_2

cashbackproblems wrote: »

Are there any online instant access accounts paying interest monthly rather than annually, the best ones i can see at the A+l, Tesco and AA all paying approx 2.75% but each pay interest annually.

Im currently with icicic but their normal online account only pays 1.7% but monthly and isnt tht competitive anymore!

How much do you have to save?

Both Lloyds Vantage (min £5000, max £21,000 (3 x £7000)) and Santander (min £0, max ? (at least £5000)) pay interest monthly. They pay 4% and 5% before tax respectively.

10_66

Mr._H wrote: »

Both Lloyds Vantage (min £5000, max £21,000 (3 x £7000)) and Santander (min £0, max ? (at least £5000)) pay interest monthly. They pay 4% and 5% before tax respectively.

Both of these accounts are current accounts, so credit checks will be made (just in case that makes a difference to the applicant). The Santander one is 5% for balances up to £2,500 for the first 12 months, then it drops to 1%.

Mr._H_2

10_66 wrote: »

Both of these accounts are current accounts, so credit checks will be made (just in case that makes a difference to the applicant). The Santander one is 5% for balances up to £2,500 for the first 12 months, then it drops to 1%.

Good point. Is a credit check always done, even if you ask to not have an overdraft?

I put a max of at least £5000 for the Santander account as you can have two of them (possibly more).

Middle_Sister

Opened a Santander 5% current account online and am waiting for them to get back to me in a few days.

When should I apply for a 2nd account?

Mr._H_2

Middle_Sister wrote: »

Opened a Santander 5% current account online and am waiting for them to get back to me in a few days.

When should I apply for a 2nd account?

I opened my second one once the online banking was set up for the first one (takes a while). If you do this, then once the second account is open, you can phone them to add it to your online banking for the first account (rather than using the second set of online banking login details that they will (slowly) send you).

murphydavid

I recently applied for internet banking with Santander and when I log on it tells me to register for one-time-passcode that seems to require me to use a new password that they text to my mobile phone each time I want to make a transaction. I have not complied yet, but if this is the way they want us to proceed, use both internet and phone at the same time then I for one will not be continuing with them. Anyone know if this is so and if there is a way round it?

elektra

murphydavid wrote: »

I recently applied for internet banking with Santander and when I log on it tells me to register for one-time-passcode that seems to require me to use a new password that they text to my mobile phone each time I want to make a transaction. I have not complied yet, but if this is the way they want us to proceed, use both internet and phone at the same time then I for one will not be continuing with them. Anyone know if this is so and if there is a way round it?

No way round it.

some more discussion on this thread

http://forums.moneysavingexpert.com/showthread.html?t=2006871&highlight=otp

stphnstevey

Mr._H wrote: »

I opened my second one once the online banking was set up for the first one (takes a while). If you do this, then once the second account is open, you can phone them to add it to your online banking for the first account (rather than using the second set of online banking login details that they will (slowly) send you).

Do A+L allow Faster Payments?