The Top Easy Access Savings Discussion Area

nadmaj

Hi ya

I save around £500 pm but currently earning very little interest and want to change which one is the most suited as i need instant access and no withdrawal penalties. I've looked at the saffron building society 12months fixed but only allows you to save up to 200pm ? no good.

thanks

gillianbrux

Hi - as the instant access accounts are 'variable' interest (including the 12 month bonus), will I be informed if the interest rate changes within the 12 months, or do I need to keep watching it - just incase? (I can't take a fixed rate as must have instant access.)

Thanks, gillian

GPR

Coventry Online Poppy Saver account is closing today at 5pm.
applications pack already done/requested online by 5pm today it will still be honoured.
If interested I suggest apply for application pack now.
Wonder what it will replace it.
Good luck

Mr._H_2

gillianbrux wrote: »

Hi - as the instant access accounts are 'variable' interest (including the 12 month bonus), will I be informed if the interest rate changes within the 12 months, or do I need to keep watching it - just incase? (I can't take a fixed rate as must have instant access.)

Thanks, gillian

How a provider will inform you of changes to interest rates will be stipulated in the terms and conditions of the account. Some are "up front" about it and others tend to slip the changes in "under the radar" and make you jump through hoops to figure out what interest rate you're getting.

A while back changes were afoot to make banks make it easier for customers to determine the name of their product (do I have the "super double-bonus issue 5", or the "ultra-platinum issue 3"?) and the interest rate but I'm not sure what happened to that...

tasty_snacks

Looking around for somewhere to dump the monthly excess cash which otherwise just sits in the current account for a few weeks after payday and before credit card bill day.

Need an account that I can operate online and simply transfer back & forth, i.e. with faster payment capabilities. Looks as though the bst option is ING at 3.1%, but I can't tell if they use faster payments or not. The next best seems to be Post Office at 3.01% but again, it's not clear whether they use FPs.

I bank with Natwest so would ideally use one of their e-Savings issues so i see all the accounts in one place online, but the best one is 1%!!!

G_M

tasty_snacks wrote: »

.... Looks as though the bst option is ING at 3.1%, but I can't tell if they use faster payments or not. The next best seems to be Post Office at 3.01% but again, it's not clear whether they use FPs.

In, but not out - in both cases.

Try Lloyds Vantage current account : 3% but you must shuffle £1000K in (and out if you want) each month, and keep the balance between £3-5K.

Failing that, Tesco. Used to be reliable but since they became a bank in their own right reports of reliabilty of Faster Payments are very mixed.

Mr._H_2

tasty_snacks wrote: »

Looking around for somewhere to dump the monthly excess cash which otherwise just sits in the current account for a few weeks after payday and before credit card bill day.

As suggested above, switching your current account to Lloyds Vantage is a good option if you think you can keep the balance within the requisite bands.

Alternatively, Tescos' Internet Saver supports Faster Payments in and out and currently pays 2.9% (but this includes a 1.65% bonus that only lasts 12 months).

Edit: Did GM's post always mention Tesco? If so I'm obviously too tired to read properly! Sorry for not adding anything new to the discussion!

Steve_xx

tasty_snacks wrote: »

Looking around for somewhere to dump the monthly excess cash which otherwise just sits in the current account for a few weeks after payday and before credit card bill day.

Need an account that I can operate online and simply transfer back & forth, i.e. with faster payment capabilities. Looks as though the bst option is ING at 3.1%, but I can't tell if they use faster payments or not. The next best seems to be Post Office at 3.01% but again, it's not clear whether they use FPs.

I bank with Natwest so would ideally use one of their e-Savings issues so i see all the accounts in one place online, but the best one is 1%!!!

Have a look at West Bromwich Building Society's WeBSave Easy Access 3 account, it pays 3.17%

Mr._H_2

Steve_xx wrote: »

Have a look at West Bromwich Building Society's WeBSave Easy Access 3 account, it pays 3.17%

Does this definitely do Faster Payments out? Most Building Societies don't support outward Faster Payments.

In any case this would be a poor choice for tasty_snacks as they wish to regularly move money from current account to savings and back again, and the West Brom only allows for four penalty-free withdrawals a year.

Steve_xx

Mr._H wrote: »

Does this definitely do Faster Payments out? Most Building Societies don't support outward Faster Payments.

In any case this would be a poor choice for tasty_snacks as they wish to regularly move money from current account to savings and back again, and the West Brom only allows for four penalty-free withdrawals a year.

I don't think that it does support Faster Payments, but the rate is pretty good albeit with the four withdrawals per year limit.