The Top Easy Access Savings Discussion Area

pigeonpie

I'm happy with extra security as long as the CS is good. I was with Clydesdale and they nearly drove me round the bend, hopeless and pedantic CS.

I'm looking at Northern Rock no-bonus period savings 2.75% account. However I opened it online and their computer systems generated no fewer than 6 "welcome to NR" emails, which puts me off. Plus of course they have just been bought by Virgin Money so will the accounts change so I'd have to move my savings yet again? What are they like to deal with and as a bank please?

I also spoke to Coventry who seemed pretty efficient.

golfpunk_2

GillyFlower wrote: »

I have just opened a Poppy Online Saver (2) with £10. Still in process of receiving all their info in separate letter form.

However, just received the Password Form - I know supposedly when scanned in 'computer' will not know it is me. BUT - why is it I feel hesitant to put my Password in the post?

I have just phoned them up and they said I could change my password once I have it alongside my Web ID and my Grid Card.

Is Coventry more complicated (better security) than any of my online banking and BS's?

I think the security manager hasn't a clue at Coventry asking for written passwords in the post. My experience with them was laughable. I sent an application for with all the required forms, cheques, certified ID, original proof of address from a recent bank statement. For my own security I rubbed out the account number as I always do and its never been a problem in any other application with any financial institution. Guess what.. they rejected my application and sent the lot back for this reason. That is utterly pathetic and another indication they don't have a clue in terms of security procedures.

Noble_Savage

golfpunk wrote: »

I think the security manager hasn't a clue at Coventry asking for written passwords in the post.

I find that their security works quite well. The slip you send back is only machine-readable and doesn't have your account number or any other 'human-readable' identifying numbers on it.

My experience with them was laughable. I sent an application for with all the required forms, cheques, certified ID, original proof of address from a recent bank statement. For my own security I rubbed out the account number as I always do and its never been a problem in any other application with any financial institution. Guess what.. they rejected my application and sent the lot back for this reason. That is utterly pathetic and another indication they don't have a clue in terms of security procedures.

Seems to me they have a fairly robust way of dealing with people who could be sending faked ID. Your mileage may vary.

golfpunk_2

Noble_Savage wrote: »

I find that their security works quite well. The slip you send back is only machine-readable and doesn't have your account number or any other 'human-readable' identifying numbers on it.



Seems to me they have a fairly robust way of dealing with people who could be sending faked ID. Your mileage may vary.

Machine readable can very easily become Human readable especially by in-house technicians. If you work in IT you will know. Just ask any of their inhouse programmers or system vendor how easy it would be if someone photocopies a batch of these A significant amount of fraud orginates internally. A secure system should NEVER EVER pass through the hands of operators in non-tamper evident visable media, or it has to be encrypted in some way. Have you ever see a PIN number or password from any other bank not enclosed in a machine carbon backed tamper-evident sealed envelope ? Thought not. Its against all known security standards. The security manager doesn't seem to understand basic security principles. So you would be happy if Coventry sent you PINs in the mail to you in the clear as long as your account number is barcoded or something ? Umm...

My ID was verified by a certified passport as required and requested. What has rubbing out my account number from an original bank statement got to do with ID fraud ? Its purpose as requested was for proof of address which they got as the rest of the bank statement was original and untouched. I would say my actions actually stop ID fraud by not exposing my name, address and account number in my peice of paper to be abused in their processing chain. Every other financial institution I have ever applied to has never seen this as an issue. The security manager at Coventry doesn't have a clue, or maybe he knows better than a dozen other more sophisticated institutions in UK ? His design to request clear passwords from customers through the post suggests otherwise. I am shocked that this micky mouse procedure exists.. wonder if the security auditors know.

shopperjpg

Hi saving accounts
Hi Dan

Have just logged in and opened a Hi save acc with ICICI and printed out the info page. I am concerned that payments are by Direct Debit as I am not looking for an "ongoing" account just somewhere wher I can put an annuity that has has just arrived - somewhere that will give high interest.
Does the Direct Debit mean they expect REGULAR deposits?

Regards

paul
Don't worry about the Direct Debit set up. I've had 2 accounts with ICICI for a fewyears now. I think it's their way of getting a linked bank account to make it easy for you to transfer money both in and out. I have always found this very easy to do.

BUT, don't take my word for it, just contact them through their site - another thing they are very good at doing is responding to any online enquiries I've made. For example, I have a 2 yr fixed rate account paying 4.5% with them, and found the interest was being "paid away" to another a/c I have with them, that only paid 1.3% variable. I wondered if I'd accidentally selected for this to happen, but when I enquired, they quickly replied that the interest could not be compounded, so I now just transfer it each month to wherever I feel like, via my linked bank account.

shopperjpg

Lips wrote: »

I noticed from the article that one of the first 'clean' accounts mentioned is the AA. Does anyone here have any personal experience of saving with the AA?

I have £190k to invest for a few months, and will be looking for a safe, monthly interest, instant access acount. I was considering FD eSavings at 5.5% (as I currently bank with FD), but 6.3 is much more attractive.

Any thoughts...?

Lips

I opened an AA account to save for my big birthday party. It was the most straightforward opening of bank account ever and a year later I closed it, as I then used the money and the decent interest rate had been a 1 yr fix. Again, closing it was the simplest ever. By contrast, I've had to write about 4 or 5 times to another bank (Cahoot) to get them to close my a/c. Don't know what the 6.3% is that you refer to? Sounds too good to be true?

gadgetmind

shopperjpg wrote: »

I opened an AA account to save for my big birthday party.

I also used an AA two year account to hold some funds and is was all very smooth. Shame it came to an end as it's impossible to match that interest now, so I finally decided to bang it all into my pension.

Steve_xx

AA Internet are deposit takers for Birmingham Midshires, part of Bank of Scotland.

Their new Internet Extra (Issue5) is a market leader. Paying 3.2%, with no withdrawal restrictions. It's a variable rate made up in part of a 2.7% bonus. You would need to review it in 12 months.

xyz123

hi- i currently have a natwest e-saver which was opened last year. my bonus rate is extended till february, however i am thinking of moving away from that to the AA account.

Would appreciate some feedback on AA? Is their online banking decent enough (i am not looking for any fancy features but just normal day to day checking of balances and some transfers) and do they have faster payments up to 10k a day?

pigeonpie

isn't the AA part of HSBC ?

I am being driven nuts by Coventry. Every day a new letter with some drip drip of security info. 2 weeks and my deposit banked with them, and still no internet login and PIN or their grid code either.
It reminds me of the Clydesdale. Never been happier than when I left them

What are Northern Rock like, efficiency, CS and security wise? Ditto Nationwide. thanks