The Top Easy Access Savings Discussion Area

I-LOV-MONEY

Thanks for that. But presumably not available to 'all' now.

LisaLJ

scgf wrote: »

Just rang them and was told that since I applied when the accounts were open to all I am classified as an 'existing customer'.

Good news! I sent my forms back on Monday, so hopefully I will still get it too...here's hoping!

Stompa

scgf wrote: »

Intelligent Finance iSaver - instant access, no bonus rate, is currrently showing as 2.49%

Blimey, my account has been dormant for at least 3 years, hard to imagine it's now considered a good rate!

koru

scgf wrote: »

Intelligent Finance iSaver - instant access, no bonus rate, is currrently showing as 2.49%

The rate on this is already due to fall to 1.8% with effect from 9 February 2013. I managed to get in before they restricted it to existing customers, but it is not much use if the high rate only applies for a month or two. In fact, my existing savings account still gives me 2.8% because of a bonus rate lasts until January, so the IF account would only be of use to me for a month. I think I'm going to open a Santander 123.

koru

I just spotted that Coventry Building Society is still offering its Family Saver account, which pays 3% on an instant access basis, as long as you are receiving child benefit and arrange for this to be paid into this account. (If you lose child benefit after that, you can keep the account as long as you pay in at least as much as the child benefit amount.)

I'm surprised it is not listed in the article on the main site, because, for anyone receiving child benefit (which is quite a lot of us) it is easily the best instant access savings account currently available.

http://www.coventrybuildingsociety.co.uk/savings-and-investments/easy-access/family-saver/Family-Saver.aspx?tab=1

System

That's no good at all then. Currently I save with the Market Harborough Building Society where I get 2.2%. I have 2 LTSB Vantage accounts, each containing the maximum £5000, on which I get 3% and an ISA with the Cheshire BS.

I was looking for an account where I could park around £300 a month savings, from which I will occasionally withdraw to overpay my mortage in £1000 chunks, or for Christmas.

Where is best now? It's a nightmare with rates falling around our ears!

koru

scgf wrote: »

That's no good at all then. Currently I save with the Market Harborough Building Society where I get 2.2%. I have 2 LTSB Vantage accounts, each containing the maximum £5000, on which I get 3% and an ISA with the Cheshire BS.

I was looking for an account where I could park around £300 a month savings, from which I will occasionally withdraw to overpay my mortage in £1000 chunks, or for Christmas.

Where is best now? It's a nightmare with rates falling around our ears!

Santander 123? Use same as your Vantage. (maybe move cash from Vantage, so you don't suffer 3 lots of lower tiers of interest?)

System

Hmm. Will have a look at that.

Just noticed the Market Harborough Building Society has a Monthly Super Saver account which offers 2.45% - a maximum of £3000 can be paid in each month. In the current climate that's not bad.

Looking at the Santander 123 account. Need to create two direct debits - I suppose I could set up one for PayPal, not sure about the other - I don't want to use the account as my main current account so all my direct debits are elsewhere. Also got to work out how I can feed it each month - suppose I could do a standing order from my salary (which goes into my NatWest current account) into the 123 account and straight back out again. Is that going to work?

What about this £2 a month charge? That's going to eat into the interest . . .

I-LOV-MONEY

ed

koru wrote: »

I just spotted that Coventry Building Society is still offering its Family Saver account, which pays 3% on an instant access basis, as long as you are receiving child benefit and arrange for this to be paid into this account. (If you lose child benefit after that, you can keep the account as long as you pay in at least as much as the child benefit amount.)

Must get myself a baby Trouble is interest rates will probably have changed by the time it is born !!!!

koru

scgf wrote: »

Also got to work out how I can feed it each month - suppose I could do a standing order from my salary (which goes into my NatWest current account) into the 123 account and straight back out again. Is that going to work?

Should do. Might as well transfer to Santander the DDs that will earn you some cashback. Should offset the £2 charge. Set up standing order to transfer as much of your salary as you need to go to your main curr a/c. Might as well leave the rest in 123.

scgf wrote: »

What about this £2 a month charge? That's going to eat into the interest . . .

Should be more than offset by the cashback.