The Top Easy Access Savings Discussion Area

Daliah

Noneforit999 said:

If you are a higher rate tax payer you are going to hit it fairly easily, especially if you fix at say 4%. I think its about £12500 in savings at 4% fixed is going to put a higher rate tax payer over the personal allowance.

That's right, the savings allowance for HR tax payers is only £500. Again, nice problem to have 

janusd

refluxer said:

With this new Santsnder eSaver account, it says... 

Can I withdraw money?

Yes, withdrawals can be made at any time by transfer to another account in Online and Mobile Banking.

Does that have to be to another Santander (current ?) account or can money be transferred to an external (nominated ?) account elsewhere ?

almost certainly it will be any account that you have the sort code / account number of - it won't be limited to a Santander account (otherwise one assumes they would have mentioned it in the t&c).

Noneforit999

Daliah said:

Noneforit999 said:

If you are a higher rate tax payer you are going to hit it fairly easily, especially if you fix at say 4%. I think its about £12500 in savings at 4% fixed is going to put a higher rate tax payer over the personal allowance.

That's right, the savings allowance for HR tax payers is only £500. Again, nice problem to have 

I would rather pay tax at source though than having to rely on the bank reporting to HMRC and then having my tax code altered later.

Currently moving it all to my Wife as she works part time so has about £1800 a year she can earn in savings before paying tax and hers is only 20% vs my 40%. 

Thumbs_Up

janusdesign said:

refluxer said:

With this new Santsnder eSaver account, it says... 

Can I withdraw money?

Yes, withdrawals can be made at any time by transfer to another account in Online and Mobile Banking.

Does that have to be to another Santander (current ?) account or can money be transferred to an external (nominated ?) account elsewhere ?

almost certainly it will be any account that you have the sort code / account number of - it won't be limited to a Santander account (otherwise one assumes they would have mentioned it in the t&c).

I don't see why not.

SeriousHoax

I've got a feeling Marcus + Zopa will be making a move shortly.😎

They've been rather quiet for the last few weeks.

( ok I'll get my coat)😜

bristolleedsfan

S_uk said:

 Do I need to open another current account to use this account to make withdrawals? it says you need another account to do this so was wondering which was the best one to open just for the purpose for getting and using this new account for savings.

I send payments from everyday savings account, expect to do the same from e-saver ......

Patr100

Zerforax said:

 

james87 said:

Santander have launched a limited edition esaver paying 2.75% on balances between £1-£250,000

https://www.santander.co.uk/personal/savings-and-investments/savings/esaver

Thanks - I've just applied and looks like already been accepted.

Annoyingly it looks like they are setting up a new Online ID for me (had the old one for 10+ years).

Have you registered this new esaver with a different email to your previous? It must "recognise" old account holders somehow. I changed my home address - but dont think I updated on the account  in the meantime but it still linked the new esaver at my new address  to my old dormant online account.


PS. to all, get in there now if you want it because the weekly MSE email will likely go out with it tonight/tomorrow and then there will be a flood! 

Nick_C

Noneforit999 said:

Daliah said:

Nick_C said:

  The way interest rates are going, I can see that I might exceed the £1k tax free threshold next year.

Lovely problem to have 

To be fair its only about £37k ish at 2.75% so a lot of people are suddenly going to find themselves over this.

If you are a higher rate tax payer you are going to hit it fairly easily, especially if you fix at say 4%. I think its about £12500 in savings at 4% fixed is going to put a higher rate tax payer over the personal allowance.

We have the proceeds of our house sale in savings at the moment, waiting on some land registry changes before we can buy my wifes sister out of an inheritance house so we have £180k in easy access and we are likely to end up using both our personal savings this year. 

I have nowhere near that amount of cash, but I do have about £20k and I can 5% being the norm next year.  I've already got almost £9k earning 5%.

I don't want the hassle of declaring and paying tax on a few quid over the threshold.  I've got 27 savings accounts with 18 institutions.  Some of them paying pennies a year.

Sg28

SAC2334 said:

kaMelo said:

Thanks for the heads up, opened immediately as I don't see this lasting long.

The issue is open until 1 st Nov.. Its not as good as it looks as you are fixed for one year .Most of the 2.75% is paid as an annual bonus of 2.55 % . Not for me this one . 

I cant see it says anything like this. Where did you see it?

KFD just says interest calculated daily added monthly.

karlie88

I'd be really surprised if Al Rayan beats this rate. Unlike previous times, this is a decent jump on a time-limited account. Hope I'm wrong.