The Top Easy Access Savings Discussion Area

G_M

I-LOV-MONEY wrote: »

My bonus has expired however, I just called them, and they have let me close the existing account and open a new account with the bonus!

This is just standard procedure for anyone with a bonus account whether with Tesco or anywhere else.

A hassle but it's the "12 month bonus game" the banks make us play.

Beeza_B33

Archi_Bald wrote: »

123 DDs don't need to pay at all, but non-paying DDs might get automatically deleted after 13 months (industry-wide practice). Also, not having qualifying/paying DDs obviously reduces your monthly cashback potential.

Hi, how do you set up a non paying DD ? the reason I ask is that I`ve just sold my house and am staying with a friend so do not have any bills to pay by DD at the moment but want to keep my 123 accounts open.

Thank you.

G_M

Beeza_B33 wrote: »

Hi, how do you set up a non paying DD ? the reason I ask is that I`ve just sold my house and am staying with a friend so do not have any bills to pay by DD at the moment but want to keep my 123 accounts open.

Thank you.

1) Via your Paypal account. When you set up a DD to Santander they will draw down £0.01 to check it, and then leave it set up but inactive.

2) Via your Tesco savings account. As Paypal above.

Beeza_B33

G_M wrote: »

1) Via your Paypal account. When you set up a DD to Santander they will draw down £0.01 to check it, and then leave it set up but inactive.

2) Via your Tesco savings account. As Paypal above.

Thank you .. much appreciated.

I-LOV-MONEY

MoneyExperts wrote: »

Very good topic, hello everyone, i am new on this forum!

Welcome! If you know something, or have any ideas how to get money instantly, please let us know !

LizzyByTheSea

Nationwide's have an instant access with 1.6% including a bonus rate.

Jazzy_B

LizzyByTheSea wrote: »

Nationwide's have an instant access with 1.6% including a bonus rate.

What's the account called, as I can't find it on their website

isofa

I-LOV-MONEY wrote: »

Tesco Internet Saver (instant access) is currently paying .75% , but added to that is a year's bonus of a further .75% (1.50% total !).

My bonus has expired however, I just called them, and they have let me close the existing account and open a new account with the bonus!

How am I going to spend my new found fortune?!!!!

Just a quick heads-up for those with a Tesco Internet Saver account: you can open a new Internet Saver online to get the new rate (1.55% inc bonus), then transfer all the balance (Internal Transfer) from the old to the new.
However to get: the interest made up on the old account, the final balance transferred over to the new account, and the old one closed - you have to do it over the phone.

cancunia

Hi Everyone,

My first post here.

I have a savings account with the derbyshire which has a good rate of interest until Feb, after which it's way below the current market. I seriously considering putting some money into interest bearing current accounts, and read on here about the Santander 123 account. I'm single so can only open 2 accounts but am none the less confused a bit about how to keep the money going around, especially as Santander have this on their website:

" Interest and transfers from any other Santander accounts do not count towards the monthly funding amount"

So does this mean that I need 1 or maybe even 2 external accounts to keep things circulating? Maybe I'm making it too complex, if so some guidance would be much appreciated.

1, Open a Natiowide current account, send £500 monthly to each of the 123 accounts.

2, Open 2 Santander 123 accounts, send £1000 to my Nationwide account (£500 from each)

I have 4 direct debits (electric, TV, Broadband & Council Tax) so can have 2 in each of the Santander accounts.


Thanks

Steve_xx

cancunia wrote: »

Hi Everyone,

My first post here.

I have a savings account with the derbyshire which has a good rate of interest until Feb, after which it's way below the current market. I seriously considering putting some money into interest bearing current accounts, and read on here about the Santander 123 account. I'm single so can only open 2 accounts but am none the less confused a bit about how to keep the money going around, especially as Santander have this on their website:

" Interest and transfers from any other Santander accounts do not count towards the monthly funding amount"

So does this mean that I need 1 or maybe even 2 external accounts to keep things circulating? Maybe I'm making it too complex, if so some guidance would be much appreciated.

1, Open a Natiowide current account, send £500 monthly to each of the 123 accounts.

2, Open 2 Santander 123 accounts, send £1000 to my Nationwide account (£500 from each)

I have 4 direct debits (electric, TV, Broadband & Council Tax) so can have 2 in each of the Santander accounts.


Thanks

Yes that's about right.

With the two Santander accounts you would send 500 a month out to the Nationwide, then log in to the Nationwide account and immediately send it back! But of course send 500 back to each of the two accounts, ie you can't send it back to one of the Santander accounts and then log into it at Santander and send 500 to the other 123 account.

Also bear in mind that with Santander 123 that the month period starts on the date on which the account was opened, ie not the 1st of the month. So, if you opened the account on 12th January then the period for the £500 movement starts on 12th January and ends 11 February.