The Top Easy Access Savings Discussion Area

Jeddy

swift1 wrote: »

Got a letter today from ING saying my old ING account is earning interest at 2.8% AER (2.76 gross pa) and is fixed for 12months. (moved my money away from ING a long time ago after their high then pathetically low interest rates)

Thought I'd mention this, as the best buy appears to be the AA which appears to be the same offer but variable where this is fixed.

Lucky you!
Given I already have an ISA with them and a direct saving a/c (with about £1 in it since as you say their interest rate for existing members is paltry) I thought I'd check this. Having logged onto their website there is no reference to this so I phoned them and they wouldn't give me the 2.76% for new members deal as I was an existing member.
Told them I'd take my money to the AA then (who I also have an a/c with getting 5% - thnx to this website!! shame I can't add to that)

Curious to know what's special about you though...
Jeddy

Jeddy

chris1 wrote: »

Not marketed as a savings account, but the Lloyds Classic account with Vantage is a current account (complete with cheque book, debit card, direct debits etc.) which pays some interest on balances within certain ranges, maximum 4% on balances between £5K and £7K.

although to add Vantage onto the Classic a/c to get this interest rate you do need to deposit at least £1k per month into the a/c.
Jeddy

chris1

Jeddy wrote: »

although to add Vantage onto the Classic a/c to get this interest rate you do need to deposit at least £1k per month into the a/c.
Jeddy

That's right, but you can take it straight out again, and put in in again next month and so on... Or have two accounts, and do a standing order to pass it back and forth between them every month, then you don't have to remember do anything.

swift1_2

Jeddy wrote: »

....Curious to know what's special about you though...
Jeddy

damn, wife said the same thing to me this morning!

like I said to the wife, its prob my rugged good looks coupled with my charming personality and oh my big fat wallet!

I assumed all existing ING customers got the same letter. I've also got about a £1 left in the account and has been for quite a few years.

It prob depends if they know you have a big fat wallet or just some spare change.

I prob wont take this up, use the lloyds vantage accounts and put the rest in high yielding shares, quite a few ftse100 stocks offering yields over 6%.

MiserlyMartin

swift1 wrote: »

Got a letter today from ING saying my old ING account is earning interest at 2.8% AER (2.76 gross pa) and is fixed for 12months. (moved my money away from ING a long time ago after their high then pathetically low interest rates)

Thought I'd mention this, as the best buy appears to be the AA which appears to be the same offer but variable where this is fixed.

Jeddy wrote: »

Lucky you!
Given I already have an ISA with them and a direct saving a/c (with about £1 in it since as you say their interest rate for existing members is paltry) I thought I'd check this. Having logged onto their website there is no reference to this so I phoned them and they wouldn't give me the 2.76% for new members deal as I was an existing member.
Told them I'd take my money to the AA then (who I also have an a/c with getting 5% - thnx to this website!! shame I can't add to that)

Curious to know what's special about you though...
Jeddy

I have tried to close my old ING (very crap rate) account 3 times. Had many problems getting to speak to anyone on the phone. At one point I got cut off in the middle of talking to them. They assured me the account would be closed but I keep getting statements and rubbish from them. Maybe its something to do with the fact it was opened with K.E. money.

The bank seems particularly rubbish since Gordon Brown used anti terrorist legislation to cause a run on Kaupthing Edge and transferred my money to ING without consulting anyone!) At least KE had full UK FSCS protection but ING is only covered by the Dutch scheme which is not as good. I wanted it left there. KE said if GB had not done that then KE would not have gone bust. But thats GB for you. At least the idiot is history now.

Anyway, I haven't been sent a closure letter, and I still get their blub in the post so I guess the account is still open. But as I say, I have spoken to 3 different people on 3 occaisons and asked them to shut the account. I now have a suspicion that they are trying to prevent people from closing their accounts so they can't get the new decent rate. Crazy? Well it looks that way to me!

taxatious

Yes I noticed the 'no joint account' thing too. Can't one open an account in one name but, for tax purposes, treat it as joint income? I'm guessing not - does nayone know if there are tax implications?

Navvy

After 12 months the interest rate drops to 0.5%, but they do allow you to open another esaver account and get the bonus again. Their rules say you can't do this, but I've done it via the phone and made it very clear to them that I already had an account. My mother has opened a second account online, and again they ignored their own rules and allowed the new account.

You can link the new account to your existing card and accounts. It is possible when you open the new account that it may not show on your home page - you can choose which accounts are displayed, and you may need to turn on the display of the new account.

You can use the online "Move Money" facility to immediately transfer all or part of your old esaver money to your new esaver. No apparent limit - you can certainly transfer a lot more than £300 in one go. The "Move Money" facility allows transfers within all your linked Santander accounts.


Navvy.

pete1014

Hi
looking at the AA account. It says that they try to verify your details (name and address etc) electronically - do they search the credit reference agencies for this?

Thanks

tonywwdot

Hello, Can you recommend a saving,s account that allows you to draw cash+buy items useing the cash-point card abroad without incurring a fee?----as the Nationwide is going to end this facility in November 2011.

Mr._H_2

tonywwdot wrote: »

Hello, Can you recommend a saving,s account that allows you to draw cash+buy items useing the cash-point card abroad without incurring a fee?

No. You'll need separate accounts for that. Martin has a good guide. I think the best combination is a fee-free credit card (for spending by card) and a prepaid card (for withdrawing cash. Note Martin says the FairFX is better, but I would go for the Caxton as it doesn't charge ATM withdrawal fees).

tonywwdot wrote: »

Nationwide is going to end this facility in November 2011.

November 2010 (i.e., this November), I think you'll find.