The Top Easy Access Savings Discussion Area

ashy_mashy

RossGayle wrote: »

Hello

My girlfriend has recently sold her flat and moved in with me. She will have about £67k after paying off debts to save.
We are hoping to emigrate to Oz in about 1 to 2 years. By this time I will also have sold my flat and will probably have another £35k to invest/put towards our move.
So my question is, where is the best place for her money in short term? (1-2 years)
We thought about putting £30k in to Premium bonds and the other in to the top paying easy access account, does that sound sensible??

Thanks in advance

Ross n Gayle

I'm also interested in the answer to this. I feel the MSE table covers banks with small investments, do banks offer better rates when investing 20k, 30k, 40k, 50k etc? Is there room to negotiate with them?

Thanks in advance!

Steve_xx

ashy_mashy wrote: »

do banks offer better rates when investing 20k, 30k, 40k, 50k etc? Is there room to negotiate with them?

Not that I know of, but do try it and let us know the outcome.

2010

With the risk of being shot at, I would say on average building societies give a far better rate for savings, better customer service and honesty and a whole lot less risk than banks.
(I know all about the £85k promise)

I`ve a 2 year fixed about to mature in the next week or two and was perfectly happy to leave it with the Halifax as another 2 year fix at 3.75%,which they informed me about 10 days ago.
Low and behold, what happened at the end of July

---

they chopped the rate to 3.25%.
Luckily I hadn`t filled in and signed their kind offer for the 3.75%,(which they wanted at least 5 days before maturity), although they did warn that rates could alter.

I find it hard for them to justify a reduction of half a %, when base rates haven`t altered for well over 3 years.

No sweat, needless to say, yet again, Halifax have shot themselve in the foot and have lost yet another chunk of cash, (2nd time this has happened to me).

The overall service and obstacles this bank puts in customers way, makes me believe they have a "death wish".

Avoid, like the plague, put it in the Coventry or similar B/S.

Jo4

Spiggle wrote: »

Hi,

I do this, piggy banking is what I call it, and it makes sure that you have the cash ready when monthly, irregular or annual payments come around. The account I use is the IF (Intelligent Finance) isaver as you can have 'jars' each individually named for the relevant expenditure. I have around 13 different jars within my 'plan'. (Make sure you apply for the isaver NOT the direct access saver.)

This account IS NOT a best buy, it's interest rate is 2.49% gross (before tax) but for me the 'jar' facility suits perfectly.

I've had this account for about 2 and a half years and the interest rate hasn't changed much at all. It doesn't have an introductory bonus so no need to diarise and sitch after a year. They could of course change this in the future but I'm very happy with this online only account.

Every month I have standing orders set up to go to each of the jars as each has it's unique number. Payments back to the linked accounts can be made by faster payments though I always allow one day for the payment to land in my account (More if a weekend is invloved).

If you come across any other accounts that have the same facility I'll be very interested.

Hope that helps,
Spigs

I have told them what you said and they want to know if it is better to have the "jars/accounts" in joint names or not since they reckon they need about 8 of the "jars/accounts"?

System

RossGayle wrote: »

Hello

My girlfriend has recently sold her flat and moved in with me. She will have about £67k after paying off debts to save.
We are hoping to emigrate to Oz in about 1 to 2 years. By this time I will also have sold my flat and will probably have another £35k to invest/put towards our move.
So my question is, where is the best place for her money in short term? (1-2 years)
We thought about putting £30k in to Premium bonds and the other in to the top paying easy access account, does that sound sensible??

Thanks in advance

Ross n Gayle

Bare in mind living expenses in OZ are double than the UK I think, or the average house price is double what it is in the UK I think. You could get an easy access acount but better with a fixed account and although the money would be locked, the interest rate would be higher.

adindas

I-LOV-MONEY wrote: »

I have had e-Saver accounts with Santander and as everything is done online I have never had a problem. I transfer the money direct to my bank account and it is there instantly.

Same here. They had issues with customer services about few years ago. But having banking with them I could see significant improvement since recently. What I like about Santander is their interest rates of most of their banking products are difficult to beat by other banks.

donny_jim

newsaverr wrote: »

I'm new to this. looking to put some money away for a couple of years and keep some handy. I've been looking around all the websites - lovemoney, thisismoney, MSE etc. I've seen Islamic Bank of Britain 4% for 2 year bond and Santander 3.2% for instant access. also seen 4% from Sant for an ISA. anyone know of any others or reasons why noto to go for them? also wondering why Islamic Bank not on MSE site - Lovemoney and the others love 'em. A bit worried about the Santander accounts - heard their service is bad. HELP!

hi the santader one is better as it is an ISA, which means you do not pay tax on the interest.(assuming you are a tax payer)
but you can only have 1 ISA per tax yr. i assume the 4% is fixed for xyrs. this is ok as long as you do not need the money suddenly. so only put in what you do not need(there is a cash limit of £5450 this tax yr) the app form will confirm this. i have an ISA with them and i have not had any problems good luck.

donny_jim

Steve_xx wrote: »

Yes this is so. But having eSaver accounts with Santander is a bit of a nightmare. when you log on they all simply say "eSaver", whether it's issue 1,2,3,5 or 5. That is very frustrating for the customer and it is extremely difficult to ascertain the current rate of interest on each of these. why do they do this? They do it to confuse as there cannot be any other reason for them to do it.

i had this prob a few yrs ago now when i open a new a.c. i print a copy of the app form which tells you which issue you r in.hope this helps.

jewelly

donny_jim wrote: »

i had this prob a few yrs ago now when i open a new a.c. i print a copy of the app form which tells you which issue you r in.hope this helps.

I just change the name of the accounts on my online banking. For example I have one I have renamed 'Old esaver', one called 'esaver 3.2%' and '2yr ISA ends 2.4.14'

You can name them whatever you like. Hope that helps

pearl123

Santander seems to be the last 3.00% bonus account on a £1 saving. Considering what happening in Spain would anyone recommeded them?

Or would it perhaps be more sensible to go for Derbyshires 2.90%.
What does anyone think? For .10% interest I want to make the best descision.