The Top Easy Access Savings Discussion Area

Tagliatony

innovate wrote: »

Afraid, not anymore, you can't. Was changed in the last few weeks to a max of 2.

innovate wrote: »

A maximum number of two 123 Current Accounts can be held at any one time. These can be held in single or joint names.

Think Just Lookin was talking about Nationwide (last comment in his/her quoted post), not Santander 123.

chamelion

Mee wrote: »

OMG, I feel so inferior, but impressed
I use FPs on an adhoc basis normally at the setting-up stage. I guess I don't think I'm organised (or committed) enough to rely in FPs. This may seem a daft question, but how you do this? Do you have 5 or so accounts acting as feeders/receivers, or one or two (main) feeder account(s), or some other system?
Thanks

I do the cycle too with about 12 accounts, but don't do the A->B->C->D etc method others seem to use - primarily because I have multiple of the same accounts per bank - e.g. nationwide 5 accounts, lloyds 3.

What I do is use my Santander 123 current account as the 'core.' I then transfer back and forth with each account.

S -> Lloyd1
Lloyd1 -> S

S -> Lloyd2
Lloyd2 -> S

and so forth. I have this all happen on the same day - 1st of the month.

Then I have a calendar reminder on the 3rd/4th to check Santander. I can basically ensure that all my money has gone out and come back in, so don't need to check each and every account, knowing that if I got the money in Santander the FP SO definitely worked.

Centralised system!

isofa

Just reviewing ICICIs HiSAVE SuperSaver Savings Account at 1.75%.

Can this just be opened on its own and linked to an current account elsewhere, or does it require you to open a HiSave Savings Account first? Bumpf states: "Direct transfers can be made from HiSAVE SuperSaver Savings Account to HiSAVE Savings Account or vice-versa by calling up the Customer Service Number."

mihaid

chamelion wrote: »

S -> Lloyd1
Lloyd1 -> S

S -> Lloyd2
Lloyd2 -> S

and so forth. I have this all happen on the same day - 1st of the month.

Brilliant, I knew that someone will come up with something.

Ologhai

isofa wrote: »

Just reviewing ICICIs HiSAVE SuperSaver Savings Account at 1.75%.

Can this just be opened on its own and linked to an current account elsewhere, or does it require you to open a HiSave Savings Account first? Bumpf states: "Direct transfers can be made from HiSAVE SuperSaver Savings Account to HiSAVE Savings Account or vice-versa by calling up the Customer Service Number."

At the risk of sounding like a stuck record (and not answering your question), quite a few posters (me included) have had pretty poor customer service experiences with ICICI. A search through the first few pages of this board will highlight the experiences of others in two or three threads, for example:

https://forums.moneysavingexpert.com/discussion/4694865

https://forums.moneysavingexpert.com/discussion/4710161

jaspal

Hi all, some advise please.

I have sold my house and have approx 85k for about 10months and was considering the following.

1 Santander £20k
2 Santander £20k
3 BOS £5k
4 BOS £5k
5 BOS £5k
6 LLoyds £5k
7 LLoyd £5k (i already have one lloyds so can only open 2 more)
8 Nationwide £2.5k
TOTAL: £67.5k

I have also applied for Tesco Savers Account and will do the cycling as suggested by many of you to ensure the min £1k or £500 goes in every month in each of the accounts.

I need a home for the remainder £17.5k - any suggestions please -

Santander - 2 max
LLoyds - 3 max (I have one already)
BOS - 3 max
Nationwide - 4 max - but only guarantee 5% in 1 account.

Right now the 3 * halifax is probably the best option - in case I get the interest - if i dont ,then I will close account. This will still leave me with another £10k more to invest or £17.5k if it doesnt.

Would really appreciate any MSE help or advice or tips.

So far today have applied for
1 * Sant
1 * Lloyds
1 * BOS
1 * Nationwide
1 * Tesco


chamelion - BTW - I like your centralised system - I think I will try to setup the same too

isofa

Ologhai wrote: »

At the risk of sounding like a stuck record (and not answering your question), quite a few posters (me included) have had pretty poor customer service experiences with ICICI. A search through the first few pages of this board will highlight the experiences of others in two or three threads, for example:

https://forums.moneysavingexpert.com/discussion/4694865

https://forums.moneysavingexpert.com/discussion/4710161

AHh, thanks for the heads up Ologhai, had searched for the specific account in the thread, rather than ICICI generally. They are definitely off the list, had enough trouble years ago with Abbey, poor customer service = no custom!

liamcov

jaspal wrote: »

Hi all, some advise please.

1 Santander £20k
2 Santander £20k
3 BOS £5k
4 BOS £5k
5 BOS £5k
6 LLoyds £5k
7 LLoyd £5k (i already have one lloyds so can only open 2 more)
8 Nationwide £2.5k
TOTAL: £67.5k

Santander - 2 max
LLoyds - 3 max (I have one already)
BOS - 3 max
Nationwide - 4 max - but only guarantee 5% in 1 account.

So far today have applied for
1 * Sant
1 * Lloyds
1 * BOS
1 * Nationwide
1 * Tesco

Sounds good, I didn't realise you could have 3 x LL and BOS, is the 3% interest just for a year or is it a continuing feature?

Also why a Tesco account? I thought the rates were very low for those or have you run out of homes?

Should we space out our applications for accounts as don't they all go on your credit file? Is it best to do 1 a week or so and how long after opening say 1 BOS can you apply for another?

liamcov

isofa wrote: »

AHh, thanks for the heads up Ologhai, had searched for the specific account in the thread, rather than ICICI generally. They are definitely off the list, had enough trouble years ago with Abbey, poor customer service = no custom!

I have just opened one, just the initial £500 is in.

I don't like how it is linked by DD to my account it's more time consuming, MSE made it seem like an easy access, I wish one of the main banks would come up with something.

Steve_xx

liamcov wrote: »

Also why a Tesco account? I thought the rates were very low for those or have you run out of homes?

The Tesco account is useful because some current accounts required you to have two DD's set up on them. for example when LLoyds were offering 4% for a year it was a condition that two DD's were set up on the account and the Tesco account was ideal for this purpose.

Santander 123 account requires two DD's on it and so the Tesco account is useful here as you can set it up to pull a nominal sum from the Santander account each month.