The Top Easy Access Savings Discussion Area

Christine_Tebbot

Just tried to open a new ISA at the Godalming branch of Santander. Told I could not do so as it was open to current account holders only. This restriction is not mentioned on your site.

Baldur

Christine_Tebbot wrote: »

Just tried to open a new ISA at the Godalming branch of Santander. Told I could not do so as it was open to current account holders only. This restriction is not mentioned on your site.

This is not a thread about ISAs, see the sub-forum above for ISA queries.

The Flexible ISA is not restricted to Santander customers only.

The Loyalty ISA is/was restricted to Santander customers who meet certain criteria.

DawnCBUk

HI all,

I wanted to see if anyone had specific advice about decent savings accounts.

Background: I currently bank with: Lloyds(best savings rate but capped at 15k@3% from June 2011), Halifax(ISA,credit card for spending abroad, good current account which I used for the bonus on the isa) Nationwide(still waiting to close this based on my previous use for overseas spending), Natwest(banked with these guys for 15 years had isa with them and decent rate easy access account now at a paltry 2.89% with bonus!). I used to bank with A&L, ICICI bank and Santander ('bout 6 months ago). Still have an empty account lying around from ING. I have a virgin credit card at 0% with about 4.8k left from using it as a credit card loan. I am planning on paying it back in november in full when I go on maternity leave. I've got other credit cards with 0 balance. My ISA allowance is fully utlised for 2011/2012 with a drip feed isa at £454 per month.

Ok I've got about £10k or so that I need to move from my natwest account to an account earning decent interest. I can afford to pay in about £500 per month into that until January 2012 (when full pay runs out for mat leave). I then need access to the funds in order to live off until I return to work in Nov 2012.

SOOO any advice as to the easiest account to use? I can afford to lock it away (notice accounts are fine) but I want to be able to pay in £500 per month. I don't want to fix just in case the crap hits the fan.

Thanks!

Dawn

Baldur

There are a few branch & postal accounts paying up to 3.31% here - http://moneyfacts.co.uk/compare/savings/variable-rate/introductory-bonus/

Middle_Sister

I have 2 Santander current accounts - the ones where you earn 4% interest on £2,500 as long as you pay in £1,000 (new money) each month. Usually I got about £8 a month interest in each account but this month it has dropped to around £4 interest each account. Why?

Baldur

Middle_Sister wrote: »

I have 2 Santander current accounts - the ones where you earn 4% interest on £2,500 as long as you pay in £1,000 (new money) each month. Usually I got about £8 a month interest in each account but this month it has dropped to around £4 interest each account. Why?

I think that you will find that it's 5% on up to £2,500 - did you have the full £2.500 in each for the full statement month (as opposed to calendar month)?

I received £8.04 interest on mine.

stewart38

I'm seeking an instant access account with a decent interest rate for my self-employed income. I'd like to pay in around 2k month and then debit the 'take home' out whilst leaving the tax/NI to accrue on a decent rate ahead of self-assessment in around 18 months. Surely a common set-up?

This means I'll be leaving around £300pcm in the account as a residual monthly deposit. I'll also need to debit some Class 2 NICs out monthly. I want an easy access account as I want this as a separate tax bill account with comparatively few payments etc (for clarity of bookkeeping). I need to open the account with a nominal amount until my first payment arrives mid-June.

The tipped Santander account looked great but the conditions preclude monthly wage payments. How common is this? Should I be looking at a different kind of account? Easy access seems to make sense as my income will vary depending on time off etc (unpaid) and I don't want to be tied to a minimum monthly deposit or hamstrung by limited withdrawals. Any help greatly appreciated, thanks.

Middle_Sister

Here is the response from Santander:

Thank you for your email

I have taken a look into your account and I am sorry to see the interest getting paid into your account is not what you expected it to be. Your accounts are just over 1 year old and the interest rate on your account has fallen to 1% Gross. I am sorry for any inconvenience this may cause you. Regards, Santander Customer Services

So look out for a rate drop after you have had the account a year.

Wannabefree_2

Could anybody help me. I am looking at saving around £200 a month but haven`t a clue where to put it can anybody help? I`m looking for something that has a high interest rate but also that i can add funds to it when required.

Can anybody help please.
Thanks

10_66

Wannabefree wrote: »

Could anybody help me. I am looking at saving around £200 a month but haven`t a clue where to put it can anybody help? I`m looking for something that has a high interest rate but also that i can add funds to it when required.

Can anybody help please.
Thanks

If you know you can save on a monthly basis a Regular Savings account might give you a better rate of interest, for instance you can get 8% with first direct, but only if you hold a current account with them. Have a look HERE for Martin's guide to regular savings accounts.