The Top Easy Access Savings Discussion Area

Connie

scgf wrote: »

I had this problem too. I did a few things like trying .00 after the numbers, adding a pound sign etc. and eventually managed to clear the hurdle. Not sure which thing I did sorted it, lol. It would appear that how you enter the information makes a difference.

Had I not gone so far through the application process I would have tried a different browser. Sometimes web sites only work correctly in one particular browser, usually a slightly older version of Internet Explorer. Lazy web developers at fault!

Thanks for that, scgf.
I changed my occupation from "retired" to "home-maker", and the online application form then accepted my application.
Just awaiting paper agreement now.

G_M

chattendenmarge wrote: »

I am looking for home for £6200 that will take additional deposits at best rate so have been looking at Santander 123 v Vantage. I had not thought of having 2 or more accounts with the same bank!!..Is it possible to just exchange £1000 each month between the accounts to meet the deposit condition? Is there a maximum number of Vantage accounts allowed by Lloyds? - have now found a leaflet that says the maximum is 3 per customer - did not contain any information re sources of funding

Stick "lloyds vantage" into the search function. There are several long and detailed threads....

System

chattendenmarge wrote: »

I am looking for home for £6200 that will take additional deposits at best rate so have been looking at Santander 123 v Vantage. I had not thought of having 2 or more accounts with the same bank!!..Is it possible to just exchange £1000 each month between the accounts to meet the deposit condition?

Yes. That's what I had all set up. £5K in two Vantage accounts and a standing order on each to pay £1000 into the other. Would have worked perfectly, but then I found out about the Santander 123 account which has much higher, and more useful maximum allowed balance on which interest can be earned. I have now opened this account and moved my savings and all my utility direct debits over, funding it with the requisite £500 each month from my main current account.

I have been most impressed with Santander so far - had to contact them a couple of times by phone and their service was top notch. I have now got the online banking sorted and this looks OK, although a little messy.

innovate

scgf wrote: »

Have already successfully opened a Santander 123 Account, but am interested in where you found out about the IF rate being lowered in Feb 2013. I have been looking on their website and saw nothing about it.

Cheers.

koru wrote: »

It was an insert with the welcome pack that they sent me. So I phoned and cancelled my application.

What is this "IF rate", please? Don't suppose you still got that insert and can let us know exactly what it said?

innovate

scgf wrote: »

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.

Did you consider the First Direct Regular Saver? You can deposit up to £300/mth, and you get 8% AER at present. For regular monthly savings, this beats any and all currently available ISAs and other savings accounts. You have to commit for 12 months and cannot withdraw - but this may not be an issue if you have other money in instant access accounts.

System

Thanks innovate.

Yes, I did have a look at this but you need to be a First Direct current account customer to open the account. I already have several current accounts and really don't want or need any more - especially one with a bank which earns more undeserved awards than any other I know. They are good on the phone, it seems. Period. Their lending rates are very high and their services pretty standard.

Sorry about the rant, and thanks for your useful advice!

I-LOV-MONEY

scgf wrote: »

Yes. That's what I had all set up. £5K in two Vantage accounts and a standing order on each to pay £1000 into the other. Would have worked perfectly, but then I found out about the Santander 123 account which has much higher, and more useful maximum allowed balance on which interest can be earned. I have now opened this account and moved my savings and all my utility direct debits over, funding it with the requisite £500 each month from my main current account.

So does the 1-2-3 give a better interest even taking into account that you have to pay a fee?

scgf wrote: »

Yes, I did have a look at this but you need to be a First Direct current account customer to open the account. I already have several current accounts and really don't want or need any more - especially one with a bank which earns more undeserved awards than any other I know. They are good on the phone, it seems.

Yes, they have a very good 'live' telephone service 24/7 including Christmas Day.

They also give you £250 interest / fee free overdraft ... yours to spend !

How many other banks offer this?

innovate

I-LOV-MONEY wrote: »

So does the 1-2-3 give a better interest even taking into account that you have to pay a fee?

Essentially yes, if you take into account the cashback you can get for the various qualifying direct debits.

I-LOV-MONEY wrote: »

Yes, they have a very good 'live' telephone service 24/7 including Christmas Day.

They also give you £250 interest / fee free overdraft ... yours to spend !

How many other banks offer this?

Big deal! They have a tiny product portfolio, and only do telephone banking. Really hard not to be good at it. The £250 overdraft is a gimmick that they will take away, or charge you for, if you use it regularly and in full. The only thing FD are truly useful for is their Regular Saver, all their other products are pants.

scgf, I share your sentiments - but you don't have to use the FD current account as a current account - it's just needed as the feeder account for the Reg Saver. They also pay you £125 for opening it, provided you are prepared to jump through some temporary hoops. I wouldn't be surprised though if they dropped their Reg Saver rate before too long.

I-LOV-MONEY

innovate wrote: »

Big deal! They have a tiny product portfolio, and only do telephone banking. Really hard not to be good at it. The £250 overdraft is a gimmick that they will take away, or charge you for, if you use it regularly and in full. The only thing FD are truly useful for is their Regular Saver, all their other products are pants.

Well I can only speak from my experience. I have been with FD for many years, and they do my banking. I don't get charged for my current account (provided you have another product with them - I have a savings account with £1 in it), and regularly get very close to the £250 overdraft limit. As soon as I go over it, I add funds into the account to bring it back down.

I don't have a mortgage with them. If I needed one, I would look at their rates and compare them with other products available.

Wendell_Pierce

When I started work they told me I needed to open a bank account to receive my wages.
A lot of my friends were with Barclays because they were student friendly, but back then there was some kind of resentment towards Barclays that I can't even remember properly but to do with South Africa, so I signed up with Midland.
After a few months of being paid I realised I needed a car to get a girlfriend, and was told I needed to make an appointment with the bank manager to authorise a car loan. I wanted £3000.
Had the interview after being kept waiting an hour, and walked out with the cash.
Bought a Ford Sierra XR4i 2.8i, six months later sold it for £4000. Paid off the loan, which include a settlement fee, and got used to buses again.
Decided to buy another car, rang the Midland, made an appointment, saw the bank manager, asked for £5000.
Kept waiting two days, nothing, went in to branch to ask what was happening. Manager was " busy ". His middle-aged secretary type, kept me waiting an hour then presented me with my loan history and a refusal stating the bank didn't have that type of money to lend to somebody that pays it back so quickly. I thought wow. They don't love me anymore.
A few weeks later I saw the ads for First Direct and from that point on in 1989 have never bothered with the branch at all.
Have seen it go from a Midland Bank where the staff thought they were doing you a favour, to an HSBC branch with automated tellers.
I can't praise First Direct enough, whether its car loans, overdrafts, mortgages, savings, credit cards or insurance. All things that should really have been business for the local branch.
Thing was back then some bank workers thought they were special, when the likes of FD came along it turned high street banks into shops for money, no more no less.

Did the same thing with Bank Of Scotland / CentreBank.