The Top Easy Access Savings Discussion Area

JimmyTheWig

AlbertoBalsam wrote: »

I don't know if I should put the £900 into this account now given todays events. I've no doubts the money will be safe, but will the new owners abide to current rates or will they shake all the savings accounts up?

Should I avoid the hassle and open an account with Kaupthing Edge instead?

Your money would be safe. Even if they went belly-up you'd get up to £35k protected, so your £905 would be fine. Would be a hassle, though, as you say.
Have no idea about rates. I think Kaupthing Edge has a rate guarantee, which would be tempting to me if I were to open a new account.
But if B&B did drop their rates then you could just open a KE account at that point in time.

In addition to my balance I intend to put £250 a month into the account. I know monthly saving accounts provide better rates but do any let you open them with £900 for example. Or do they all require you to start saving from zero?

You could put the £900 in B&B and then start a regular saver for the £250 a month.
Or you could find a regular saver where the amount you save doesn't have to be the same each month. We've got a Halifax one (no longer available) where you could have put £500 the first month, £500 the second month, £400 the third month, and £250 subsequent months.

kemmyjoe

Hi all
This is my first post. Has someone created a list yet of Instant Access accounts where you can set up a standing order to another account. I want to drip feed into a Regular saver using a SO. This information is not readily available when you look up individual sites. I don't want the hassle of going from Instant to C/A, then from C/A to Regular. Sorry if already been answered but I can't find it. Anyone know of a good rate account that can do this.

freeasabird

Mr._H wrote: »

At the moment that would have to be ICEsave, Kaupthing, ICICI (although I personally wouldn't touch them again with a barge-pole, too many occurrences of "oops, forgot to pay you the correct amount of interest" for my liking).

If you don't mind a notice account, and you've got enough for their minimum deposit, you can't beat the investec high 5 account, which pays the average of moneyfacts' top five instant-access accounts.

Unfortunately, a nervous relative is not happy about an account that isn't based in the UK and as they haven't heard of Investec, I've got to find out about other options. Any suggestions will be much appreciated. Sorry to ask about this again.

HUDengineer

Martin, and any other that can enlighten me...Firstly, thanks for running such an informative site, but I have not found a section that touches on the options for Savings Accounts for small businesses. I suspect there are a fair number of people like myself who have set up a small (PLC) business account and have let the balance grow, and are now concerned about the safety of their hard earned. Are businesses able to use the same Instant Access Accounts as ordinary individuals, or are businesses constrained to a very limited range of products that I've never seen advertised? I gather from my business bank that each institution that my business has an account with gets the same £35,000 protection as individuals, but I've no idea whether I should be searching for a specialist product or using the popular ones featured on this site.Thanks,Andy

daveydumplin

I have 20K to invest and was going to put it into the new Barclays 6.3 bond, but on the tv last night, B&B were advertising 6.7% guaranteed in their similar bond. Would I be better off sticking to Barclays or going to the B&B?

Baldur

daveydumplin wrote: »

I have 20K to invest and was going to put it into the new Barclays 6.3 bond, but on the tv last night, B&B were advertising 6.7% guaranteed in their similar bond. Would I be better off sticking to Barclays or going to the B&B?

I presume that you mean 'save', rather than 'invest'?

The Barclays product at 6.3% would be valued at around £21,008 in one year after basic rate tax or £20,756 after higher rate tax.

The B&B one at 6.7% would be valued at around £21,072 in one year after basic rate tax or £20,804 after higher rate tax.

There are fixed rates available which offer better rates than either, e.g. http://www.moneyfacts.co.uk/searches/savingssearchresults.aspx

rgajria

kemmyjoe wrote: »

Hi all
This is my first post. Has someone created a list yet of Instant Access accounts where you can set up a standing order to another account. I want to drip feed into a Regular saver using a SO. This information is not readily available when you look up individual sites. I don't want the hassle of going from Instant to C/A, then from C/A to Regular. Sorry if already been answered but I can't find it. Anyone know of a good rate account that can do this.

A similar question to the one above, does anyone know if you can set up a standing order from Kaupthing edge instant access account to drip feed into Barclays regular saver? Are there any charges for doing this? Any help appreciated, thank you

murphydavid

rgajria wrote: »

A similar question to the one above, does anyone know if you can set up a standing order from Kaupthing edge instant access account to drip feed into Barclays regular saver? Are there any charges for doing this? Any help appreciated, thank you

[FONT=&quot]I'm pretty sure the answer is no. And I’m absolutely sure that if you send your question to them you will get a reply within 48 hours.[/FONT] (Contact us tab on their web page)

[FONT=&quot]By the way if you take the highest possibility (ie you are a non tax payer and transfer the maximum amount allowed of £250 a month and no changes in interest rates) doing this will mean you get a maximum of £30.00 extra interest in one year.
[/FONT]

carix

Hello. I'm thinking about opening a savings account with Kaupthing Edge bank, and was just reading through their terms and conditions. Under Fees it states that there's a £20 charge for CHAPS withdrawels from my savings account to my linked account. Does this mean that I'll have to pay a £20 fee every time I shift money from my savings account into my normal, current account? Also it states there's a £15 charge for every BACS transfer from my linked account returned unpaid. It's all a bit technical for my brain. Does this mean I pay £15 every time to move money from my current account to the savings account? What does 'returned unpaid' mean? Please help! x

Patr100

No CHAPs is a more speedy way of transfering - no charge for normal BACs transfers -
The £15 charge looks like its if you try to move funds that you don't actually have - like a bounced cheque - I really wouldn't worry about it.

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