The Top Easy Access Savings Discussion Area

ahai1

I phoned up Post Office savings using the 0800 number which I eventually got from saynoto0870 after searching for sometime. They had a long message which says that they are going to join the FSCS in 2011.

BTW I found out the wait period was 5-10 days for ID to be verified.

Mr._H_2

ahai1 wrote: »

I phoned up Post Office savings using the 0800 number which I eventually got from saynoto0870 after searching for sometime. They had a long message which says that they are going to join the FSCS in 2011.

Are you sure you didn't misunderstand the message? According to this, and their own website, they already are members of the FSCS.

A._Badger

Mr._H wrote: »

Are you sure you didn't misunderstand the message? According to this, and their own website, they already are members of the FSCS.

According to MSE as well!

It's astounding that people will post absolute rubbish here without even bothering to find out the facts - even when those facts are plain as a pikestaff on this very website!

Mr._H_2

A._Badger wrote: »

It's astounding that people will post absolute rubbish here without even bothering to find out the facts - even when those facts are plain as a pikestaff on this very website!

That's a bit harsh. He did say the info was from a recording on a post office phone line. My guess it was actually about the protection limit increasing on Jan 1, 2011.

ahai1

Sorry about this it was a long recording and I was only half listening to it. It did say a lot and it did say something about Jan 2011. I think it said something about £85,000 sterling or something but I can't remember what it actually said. If you want to you can try phoning 0800 169 7500 and listening to a very long message.

Jeddy

Steve_xx wrote: »

But I guess after 12 months you would simply open a fresh set?

Not quite, I believe in order to open one of these accounts you must not have held a similar a/c for at least 3 months, so you'll have to wait before you can open them again (if they are still doing them then).

Actually I have a better way of making money out of Santander - I tried to setup internet banking for my Zero credit card however after 3 attempts they still didn't have it sorted, so I complained and eventually got £30.

I was then so fed up I decided to cancel the Zero card - I received confirmation back the account was cancelled, followed the next month by a new card!! Yet more complaining at the end of which they gave me another £50!!

In my experience, just asking Santander to do basic transactions is a far quicker way to make money than depositing money with them. :rotfl:

Steve_xx

Jeddy wrote: »

Not quite, I believe in order to open one of these accounts you must not have held a similar a/c for at least 3 months, so you'll have to wait before you can open them again (if they are still doing them then).

Actually I have a better way of making money out of Santander - I tried to setup internet banking for my Zero credit card however after 3 attempts they still didn't have it sorted, so I complained and eventually got £30.

I was then so fed up I decided to cancel the Zero card - I received confirmation back the account was cancelled, followed the next month by a new card!! Yet more complaining at the end of which they gave me another £50!!

In my experience, just asking Santander to do basic transactions is a far quicker way to make money than depositing money with them. :rotfl:

Yes I think you're right, they are appalling. Faster Payments seem like a myth to them. They really need to get their act together.

gfunk_2

Hi There, I have recently sold my flat, payed off debts, and have £13k left over. I have an account with Lloyds, seems like a good idea to me to leave it in my current account what with the vantage boost i am eligible for.

The only thing that worries me is having that in my account, so i might set up a basic classic account to transfer my monthly spendies that i need, in the interest of keeping things tidy with regards to monthly budgeting. Also, as soon as the money was in my account lloyds rang me up and said it wasn't a good idea to keep that in my acc. due to fraud etc!? Surely it will be safe in a bank?!

Any thoughts/opinions/help?!

Mr._H_2

gfunk wrote: »

Hi There, I have recently sold my flat, payed off debts, and have £13k left over. I have an account with Lloyds, seems like a good idea to me to leave it in my current account what with the vantage boost i am eligible for. The only thing that worries me is having that in my account, so i might set up a basic classic account to transfer my monthly spendies that i need, in the interest of keeping things tidy with regards to monthly budgeting.

Vantage only pays interest up to £7000 so you'll need two. It's a good idea to separate the savings from your day to day current account, but thankfully you are allowed three current accounts with Lloyds, so no problem. Upgrade the current one to Vantage, then open two more and upgrade them as well. Put £6500 into two of the accounts, and set up a standing order in the middle of the month to transfer £1000 from one to the other and visa versa; this will satisfy the requirement for paying in £1000 a month. Use the third account as your normal current account.

gfunk wrote: »

Also, as soon as the money was in my account lloyds rang me up and said it wasn't a good idea to keep that in my acc. due to fraud etc!? Surely it will be safe in a bank?

Hmmm. Lloyds have plenty of security features so I don't see a problem. As with all accounts as long as you make sure you don't send your account details to that friendly sounding Nigerian offering you mountains of cash, or respond to any emails addressed to "dear customer", you'll be fine.

gfunk_2

Hi, thanks for that Mr H.

When say you upgrade to Vantage, do i need to speak to the bank and state 'i want vantage on my account', or does it happen automatically when i fulfil the criteria? (pay in the 1 k, stay in credit etc).

And yes, i'll keep a watch out for those foreign phone calls heh heh!