The Top Easy Access Savings Discussion Area

Archi_Bald

JP_Esq wrote: »

Those conditions are either ones I cant meet or don't want to meet, holding fire on changing current account until September at the earliest so not worth the fees etc for the time being.

All the conditions are very simple to meet for anyone who has cash savings in instant access accounts. You don't have to change current account - just keep everything you already have and add as many additional current accounts as you need.

JP_Esq

Archi_Bald wrote: »

All the conditions are very simple to meet for anyone who has cash savings in instant access accounts. You don't have to change current account - just keep everything you already have and add as many additional current accounts as you need.

Again, Ive misled you by mistake, my bad!

I was aware I didn't have to change my account, only to add new ones but like I said, I was the one who put that!

Already having to meet some conditions on various things that are actually more beneficial to me then the accounts you kindly listed and the extra conditions, for the most part are impossible for me to meet or at best, awkward to do so. Hopefully this will change in the near future. Given the time frame Im thinking here, fees etc hurt too much.

For example, I wanted to take up that First Direct regular saver but in order to qualify would mean ruining previous obligations.

By the way, I read somewhere that you can circumvent the requirements by simply having £1 in their e-saver. Is this actually true or merely apocryphal?

Cheers again.

Archi_Bald

JP_Esq wrote: »

For example, I wanted to take up that First Direct regular saver but in order to qualify would mean ruining previous obligations.

Not being nosey but I'd love to know what you think you would have to give up for the FD Reg Saver, or for other other accounts. Somehow I suspect you might misunderstand the requirements for the various accounts?

JP_Esq wrote: »

By the way, I read somewhere that you can circumvent the requirements by simply having £1 in their e-saver. Is this actually true or merely apocryphal?

You do need an FD current account because the SO for the Reg Saver must come from that account. However, you don't need to deposit more than your monthly Reg Saver amount, and having £1 in an e-saver saves you from the monthly fee. This is on the FD website but it takes a bit of searching to find it.

FD are quite choosey about which applications they accept, though.

phoebe03cat

Just a query on the Lloyds Vantage. I know it needs at least £1000 every month. Am I right in thinking that it cant be an internal transfer across accounts, but needs to be money in from an external source? I assume an in for a couple of minutes and out again will satisfy the t&c's. Looks like its ping pong between nationwide and lloyds for me.

AlwaysLearnin

phoebe03cat wrote: »

Just a query on the Lloyds Vantage. I know it needs at least £1000 every month. Am I right in thinking that it cant be an internal transfer across accounts, but needs to be money in from an external source?

Internal transfers work for me...

badger09

And me

LTSB & BoS Vantage can all be internal transfers

Archi_Bald

And me........................................

Ologhai

Archi_Bald wrote: »

Seems a vast exxageration, and most certainly not what happened when I applied for my 3 BoS Vantage accounts. It was was one check per application for me.

Please would you tell me how would I go about checking the number of recent credit checks that have been carried out on me?

Archi_Bald

You check your credit files. Experian is the most used of the credit agencies, so I would start there. Check out the MSE guide to credit scores first : http://www.moneysavingexpert.com/loans/credit-rating-credit-score

JP_Esq

Archi_Bald wrote: »

Not being nosey but I'd love to know what you think you would have to give up for the FD Reg Saver, or for other other accounts. Somehow I suspect you might misunderstand the requirements for the various accounts?

You do need an FD current account because the SO for the Reg Saver must come from that account. However, you don't need to deposit more than your monthly Reg Saver amount, and having £1 in an e-saver saves you from the monthly fee. This is on the FD website but it takes a bit of searching to find it.

FD are quite choosey about which applications they accept, though.

For example, one of my accounts is with HSBC. I need to deposit at least £500 each month to maintain it (and the regular saver attached to that.) This is more important to me then most people due to the large number of transactions going in and out of it (I trade Betfair markets). I know I can trust HSBC to get this bit right having been with both them and Betfair for years whilst I can probably trust others to get this right. Too much risk for me to change personally, especially as the process is apparently getting "policed" better from September onwards.

Theres also self imposed conditions etc (that I wont go into) that complicates things further. Rest assured, I understand the basics of qualifying for the accounts mentioned earlier.

As for the First Direct one, you don't need to put in £1500 every month to avoid the fee? Just a solitary pound in the e-saver? Subject to acceptance of course?