The Top Easy Access Savings Discussion Area

badger09

oldwiring wrote: »

Don't assume either that I wouldn't take the consequence of a decision, nor that I would come back to complain. Anyhow isn't it a too bold assumption that nobody would be available.

I'd like to be confident that many opinions are not influenced by anti EU hysteria, but on that I'm absolutely unsure.:)

I would not presume to speak on behalf of colsten, or anyone else, but I can assure you, my opinion on this matter is not influenced by anti EU sentiment, let alone hysteria.

Having been caught up in the Icesave/Kaupthing problems several years ago, I will not save in any institution which is not covered by the FSCS. The equivalent French scheme may be fantastic, but I am not prepared to put it to the test.

bigadaj

badger09 wrote: »

I would not presume to speak on behalf of colsten, or anyone else, but I can assure you, my opinion on this matter is not influenced by anti EU sentiment, let alone hysteria.

Having been caught up in the Icesave/Kaupthing problems several years ago, I will not save in any institution which is not covered by the FSCS. The equivalent French scheme may be fantastic, but I am not prepared to put it to the test.

I had money in Kaupthing at the time, I recall being slightly concerned but earning more than any other equivalent account even whilst the company was going into and through default left me fairly content.


I seem to recall an interest rate of around 5-6%, happy days.


However I think that was of it's time and could be considered the warning that the government won't be so generous next time.

badger09

bigadaj wrote: »

I had money in Kaupthing at the time, I recall being slightly concerned but earning more than any other equivalent account even whilst the company was going into and through default left me fairly content.


I seem to recall an interest rate of around 5-6%, happy days.


However I think that was of it's time and could be considered the warning that the government won't be so generous next time.

I had accounts with Icesave paying 6.7% in November 07 and Kaupthing paying 7.15% in October 08, and others at rates in between.

I also persuaded my husband that we should transfer our joint cash savings account to Icesave. Fortunately we withdrew most of it for our conservatory before the meltdown.

It was quite a stressful time and there is no way I would take that sort of risk again.

Uxb

Kauphting was slightly different
The UK's financial regulator closed them down -in effect they raided the HQ and sequestered the funds in the wake of Icesave collapse abut 4 days later as I recall.
The Uk government then paid ING to take on the savings of Kauphting's customers which were transferred to ING.
Effectively this was easier and cheaper than having the FSCS pay out en-mass the whole lot as happened for Icesave's savers. So the FSCS in effect paid ING.

Icesave as those with long memories can remember went bust and the Icelandic government decided that it was not going to honour its international agreements to reimburse its foreign savers and those foreign savers were told to sod off. Its domestic savers were compensated.

A valuable lesson to all that in the ultimate case foreign governments are sovereign and can do what they like and there is not much you can do short of invading them.

dekkard

Tesco's Internet Saver now listed as the top Easy Access account as it's rate will be 1.35% as of 1st December.

jamei305

dekkard wrote: »

Tesco's Internet Saver now listed as the top Easy Access account as it's rate will be 1.35% as of 1st December.

I just opened one. Happy to see that despite it being a savings account and me not being an existing customer I was given my own sort code and account number and can make my opening deposit by faster payments. None of this direct debit and account number as reference number nonsense.

ColdIron

It's a nice little account that just does what you want it to do, I'm a big fan

Malchester

Tesco internet saver is not always best interest rate but it is by far the easiest account to operate. Just be aware that they do bring out new editions with different rates and when they do you need to open a new account and transfer but it is easily done. Tends to be when they change the bonus rate. True faster payments as well, almost immediate in and out

ColdIron

Also be aware that when you open it, while you can deposit money immediately, you can't withdraw for 48 hours. AML checks they say but when they change the rate they can get a bit backlogged as it's done manually. A phone call will sort it out but bear it in mind to avoid disappointment

AirlieBird

dekkard wrote: »

Tesco's Internet Saver now listed as the top Easy Access account as it's rate will be 1.35% as of 1st December.

Although it is still available, there is no guarantee that it will be available at that high a rate come 1 December. Tesco usually position themselves to be just below the highest rates so unless there is other movement from those usually vying for the top spots there may be a lower rate for accounts opened from 1 December.