The Top Easy Access Savings Discussion Area

Steve_xx

uksavergirl wrote: »

Was thinking about signing up to ICICI, but then realised these posts were from a very long time ago. Does anyone have any recent experiences?

Why were you thinking of signing with ICICI?

I-LOV-MONEY

I had an an ordinary savings account (HiSave) and fixed term accounts with ICCI many years ago when they had decent interest rates. I have left a few quid in HiSave, just in case they ever do anything interesting again and save me rejoining!

donny_jim

AndyJ52 wrote: »

I've just seen this 'Instant Access' savings account offering 3.2% from the dreaded Santander :eek:. Quite tempting in the current market.... but then, it IS Santander - and their customer service is widely known to have been awful in the fairly recent past.
Anyone know whether they've smartened up their act of late, or are they still as close to useless as the proverbial ashtray on a motorbike? Should I give them a go or should I stick with my gut reaction and stay well clear?

Any knowledge with regard to recent banking experience with them that anyone would care to share would be much appreciated.
Thanks!

i have a current A/C + 2 ISA with them, up to now not had any probs.
suposedly in the process of transfering 1 ISA that has matured into the other.
this cannot be done online or phone, even though it tells you on line to phone.
will let you know how i get on.

badger09

donny_jim wrote: »

i have a current A/C + 2 ISA with them, up to now not had any probs.
suposedly in the process of transfering 1 ISA that has matured into the other.
this cannot be done online or phone, even though it tells you on line to phone.
will let you know how i get on.

Strange -that's exactly what I did. Took about 5 minutes on the phone, and appeared online within a couple of days

ejv

ejv wrote: »

I have opened WestBrom 3.17% in Sep 2011.Today Coventry has come up with 3.25%.I have chosen annual interest with WestBrom.It allows 4 withdrawals a year.If I close it and transfer funds to Coventry,how would they be calculating my interest?

Steve_xx wrote: »

They will calculate your interest until midnight on the day before they close the account.

Thanx Steve...I spoke to WestBrom.
Though I started the account in early Oct 2011,they had paid some interest on 1st May 2012. They said, though there is no penalty for closing early, I wouldn't get the bonus(1.42%) till its 12 months:(

So I think it's better to hold itin WestBrom till anniversary and move it to Coventry before 31st Oct 2012

Steve_xx

ejv wrote: »

Thanx Steve...I spoke to WestBrom.
Though I started the account in early Oct 2011,they had paid some interest on 1st May 2012. They said, though there is no penalty for closing early, I wouldn't get the bonus(1.42%) till its 12 months:(

So I think it's better to hold itin WestBrom till anniversary and move it to Coventry before 31st Oct 2012

Or perhaps move the bulk to Coventry and leave £1 in the west Brom account. Do you think that would be possible?

ejv

Steve_xx wrote: »

Or perhaps move the bulk to Coventry and leave £1 in the west Brom account. Do you think that would be possible?

I did think about this.But is it worth accruing just 1.75%(3.17 minus 1.42) interest for 9 months. Or is it better to leave it another 3 months,fetch their bonus as well at first week of October and shift the fund to Coventry before their 31/10/12 deadline? I'm not very good at maths:o

Steve_xx

ejv wrote: »

I did think about this.But is it worth accruing just 1.75%(3.17 minus 1.42) interest for 9 months. Or is it better to leave it another 3 months,fetch their bonus as well at first week of October and shift the fund to Coventry before their 31/10/12 deadline? I'm not very good at maths:o

My thinking was that you would still get the bonus by leaving a small amount in the account? Or are you saying that you think you would only get the bonus on the remaining balance?

ejv

Steve_xx wrote: »

My thinking was that you would still get the bonus by leaving a small amount in the account? Or are you saying that you think you would only get the bonus on the remaining balance?

Thats what I thought

---

the bonus of 1.42% will be applied to the amount present in the account on anniversary???? Am I wrong?

badger09

ejv wrote: »

Thanx Steve...I spoke to WestBrom.
Though I started the account in early Oct 2011,they had paid some interest on 1st May 2012. They said, though there is no penalty for closing early, I wouldn't get the bonus(1.42%) till its 12 months:(

So I think it's better to hold itin WestBrom till anniversary and move it to Coventry before 31st Oct 2012

ejv is it possible you misunderstood what WestBrom told you

Although this is not the T&C you would have had when you opened this account, it clearly says the 1.42% bonus is unconditional

http://www.westbrom.co.uk/westbrom/search

Depending on exactly was said, they might have meant that (obviously:p) you wouldn't get the full 1.42% bonus until the 12 month anniversary if you close the account early, you'd only get the bonus for however many months the account was open.

You say you're not very good at maths . I don't know how much you have in this account, but for every £1000, the difference in interest, after basic rate tax, is a whopping 64 pence for a whole year. While I would always advocate looking for the best available rates, is it worth the faff