The Top Easy Access Savings Discussion Area

Baldur

veronica46 wrote: »

Lips wrote: »

AA is part of HBOS!

Their 'deposit taker' is Birmingham Midshires which is, as you say, authorised for deposits under the Bank of Scotland's FSA registration.

HBOS is the group & is not itself authorised for cash deposits but various parts of it are authorised for investment/fund products.

their interest rate is almost bound to go down.

I managed to grab their 1 year fixed-rate offering at 7.21% last week - the product has since been withdrawn, unsurprisingly.

Katie-Kat-Kins

Ok so can anyone recommend a savings account suitable for opening in joint names, which will allow us to have the interest added into the main account. I have just looked at B&B and B'ham midshires and neither fit the bill. Midshires won't allow joint names and B&B have a weird rule about only having one nominated account to pay in from and to pay out to and the interest must be paid out......

I had one of the accounts from B&B where the interest is paid out when i was a student and it was a handy function then but not what I want now.

The purpose of the account is for my fiance and I to save for our wedding, so we will be making regular deposits although not necessarily the same amount each month but we will also be withdrawing as and when we have to pay for things so we want maximum flexibility, an online account would suit us.

This will be less than £10k so issues of spreading risk aren't a problem.

A good rate or introductory bonus would suit as this is all about building a "wedding pot" and maximising it. Our longer term savings are elsewhere.

Thanks.

PS Anyone else wish the list of top accounts would mention these funny little conditions on some of the accounts??

Penguintron

With inflation now up to 5.2% I'm starting to feel like I need to have my savings put away with a higher rate now. I currently have my Halifax 10% regular saver maxed every month along with my Barclays 7.75% regular saver. The rest of my savings are in B&B Internet Saver 3 at 6.51%. After tax I'm down to 5.2% in there so the money isn't growing so much as just keeping up with inflation. Is there anywhere else that is recommended for my money at the moment?

Thanks :beer:

veronica46_2

KatP wrote: »

Ok so can anyone recommend a savings account suitable for opening in joint names, which will allow us to have the interest added into the main account. I have just looked at B&B and B'ham midshires and neither fit the bill. Midshires won't allow joint names and B&B have a weird rule about only having one nominated account to pay in from and to pay out to and the interest must be paid out......

I had one of the accounts from B&B where the interest is paid out when i was a student and it was a handy function then but not what I want now.

The purpose of the account is for my fiance and I to save for our wedding, so we will be making regular deposits although not necessarily the same amount each month but we will also be withdrawing as and when we have to pay for things so we want maximum flexibility, an online account would suit us.

This will be less than £10k so issues of spreading risk aren't a problem.

A good rate or introductory bonus would suit as this is all about building a "wedding pot" and maximising it. Our longer term savings are elsewhere.

Thanks.

PS Anyone else wish the list of top accounts would mention these funny little conditions on some of the accounts??

To be honest, i have been looking for an easy to operate account where the interest compounds monthly, but they are few and far between apart from ING.
That one does it for sure.
But I have gone off ING. they are in the passport exemption scheme and also have been giving me pants interest for ages.
Yorkshire seems easy to operate and you can link to your bank's current acct. but you will have to transfer the monthly interest back from your current account into the Yorky savings.

Katie-Kat-Kins

Thanks veronica, I didn't really want to have to keep transferring money back and forth so I doubt I'll go for the Yorkshire Bank account. And at the current time it might not be too wise to open an account with ING if they are in the passport scheme....

Anyone got anyother suggestions??

stphnstevey

Anyone else thinking it is really difficult to choose

a) Safe place to put your money
b) Get an inflation beating rate (after tax)

I am one of the many who have chased the higher rates in the past and now have quite a few bank accounts with different institutions.

However, at the moment I am feeling unsure if I can trust any of them!

Not bothering with the slight increase when the Icelandic banks came out, I stuck with ICICI, however although nothing's been confirmed, in this climate who wants to take the chance?

So you look closer to home. HBOS was a favourite with their reguler savers, but even in this top five bank, there is insecurity.

So stick it under the mattress. But even thats now losing you 5% a year in inflation.


Surely this is not just me?

guiriman

Just got an email from ICICI this morning, their one year fixed rate deal is still available at 7.20% until 29th October. No clarification on what it will go to following that.

luv_my_brass

KatP wrote: »

Thanks veronica, I didn't really want to have to keep transferring money back and forth so I doubt I'll go for the Yorkshire Bank account. And at the current time it might not be too wise to open an account with ING if they are in the passport scheme....

Anyone got anyother suggestions??

I have a small amount with ING, but during the short time I have been with them, have done reasonably well, what with an extra £100 for opening up the account and a few £25 from other's opening up new accounts. I agree that the interest is pants, but their website paints a very strong picture of their Company and says they are 100% safe for UK savers.

matty2767

according to the moneyfacts website the IF isave account gives 6.4% and the B&B 6.51%. is there anything wrong with opening an account with either of these two. i need an account with instant internet access. the reason i ask is that there is much talk of the AA account and the B&B interest is greater.

thanks

veronica46_2

luv_my_brass wrote: »

I have a small amount with ING, but during the short time I have been with them, have done reasonably well, what with an extra £100 for opening up the account and a few £25 from other's opening up new accounts. I agree that the interest is pants, but their website paints a very strong picture of their Company and says they are 100% safe for UK savers.

With all due respect, they are hardly likely to paint a poor picture, are they?
They are very very good at marketing.... but what does that mean?
However, if in the kind of unlikely event of them running into difficulties, they are in the passport scheme and so could take quite a while for a saver to access their savings...
Also the Dutch PM was highly unsupportive of Dutch investors who lost in Iceland... what chance would a UK saver have in their unlikely ( and I must stress unlikely) downfall?
However I am not the Sibyl of Delphi and this is just my own opinion.