The Top Easy Access Savings Discussion Area

bchas7

I have opened an account but have been unable to put any money in it! They insist money is deposited by BACS or CHAPS, or, as a last resort only, by standing order. My Bank, Royal Bank of Scotland, will not effect transfer by BACS,will charge £20 for CHAPS and "discourages" standing orders for this purpose.

Moggles_2

bchas7 wrote: »

I have opened an account but have been unable to put any money in it! They insist money is deposited by BACS or CHAPS or, as a last resort only, by standing order. My Bank, Royal Bank of Scotland, will not effect transfer by BACS, charges £20 for CHAPS and "discourages" standing orders for this purpose.

If you have online banking, you can transfer the funds via BACS yourself directly to your Kaupthingy account. It's similar to when you pay bills online. All you need is your KE account number and the sort code

murphydavid

bchas7 wrote: »

I have opened an account but have been unable to put any money in it! They insist money is deposited by BACS or CHAPS, or, as a last resort only, by standing order. My Bank, Royal Bank of Scotland, will not effect transfer by BACS,will charge £20 for CHAPS and "discourages" standing orders for this purpose.

BACS (originally an acronym for Bankers' Automated Clearing Services) is a United Kingdom scheme for the electronic processing of financial transactions.

If you use free online banking you will almost certainly be using BACS. Nothing special you just make a payment in the normal way.

ljw_3

As previous posts have mentioned you can transfer money online from your RBS account to KE but there is a daily limit - you can only transfer a maximum of £10,000 per day!

shelleysho

Does anyone know anything about Kaupthing Edge Isle Of Man?

I saw on Money Facts and their own website that they have what appears to be an instant access savings account paying 6.86% AER against Kaupthing Edge UK's equivalent account which pays 6.50% AER.

wakatobi

If my partner/husband and I each have 35K in an institution, are we both covered up to 35k?

Baldur

wakatobi wrote: »

If my partner/husband and I each have 35K in an institution, are we both covered up to 35k?

Yes - the FSCS cover is per person per institution.

murphydavid

shelleysho wrote: »

Does anyone know anything about Kaupthing Edge Isle Of Man?

I saw on Money Facts and their own website that they have what appears to be an instant access savings account paying 6.86% AER against Kaupthing Edge UK's equivalent account which pays 6.50% AER.

I have seen a number of IOM accounts with a variety of providers but I got the impression that they are not covered by the FSCS £35,000 g'tee but by another compensation scheme of their own (IOM) devising. I say impression because the gain to be had was not worth the time to fully research it. Anyway after Northern Rock I would not touch anything without the g'tee or invest more than that in any one place.

tejer

Since northern Rock I am looking for a spread of the best rates available in a mix of instant access and fixed rate accounts for my savings, based on keeping them below the 'safe' limits.
First Save seem to be very high, (especially Fixed rate at 7.1%) but I don't see them rated with Martin's top tips.
I see they are wholly owned by First Bank of Nigeria and very young (since 2002).
Is there a reason why they don't feature?
They are covered by FSA.

Moggles_2

tejer wrote: »

First Save seem to be very high, especially fixed rate at 7.1%, but I don't see them rated with Martin's top tips.

That's probably because the fixed-rate term accounts were not launched until
Thursday 22 May.