The Top Easy Access Savings Discussion Area

refluxer

Sg28 said:

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.

There is no bonus interest element to the eSaver - the rate is variable so they can move it up or down as they wish. If it did have a stated bonus rate (similar to the Tesco Internet Saver, for example) then this would be the minimum it could drop to during the 12 month period but that isn't the case with this one.

You're not tied into anything for 12 months - 12 months is just the maximum length of time you can hold the account, after which time it reverts to an Everyday Saver which is currently at a lower rate.

Sg28

Opened and got some money in in less than 5 minutes. Great from Santander. Maybe ill even stop referring to them as Santandire now.

I-LOV-MONEY

Hi.  I have just opened the Santander account.   It seems to have found two old accounts that I had years ago (I don't remember them!).  Can I create a new id?   Their customer service telephone numbers are 0845.   I thought those numbers had been abolished and replaced by 0345 numbers.   Presuming the number on the page 0845 328 1328 works with 0345, I just tried it, and it is engaged (!).  That is a hopeful sign, as if it wasn't working it would be number unobtainable.

Anyway, having created the account, how do I register for a new id, and how do I fund the account?

Thanks for your help.

I-LOV-MONEY

Nick_C said:

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.

If you are filling in a self-assessment form, I would 'forget' the accounts that are paying pennies.  It won't make any difference to the amount of tax you are due to pay, unless you are on a border line.

km1500

yrs - if you opt for annual interest all the interest you earn will be in the next tax year - if you opt for monthly interest then some of it will be in this tax year

soulsaver

Expotter said:

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.

This is getting so silly now that maybe we should start a competition, who's got the most accounts? I thought I had lots at 14, but you've beaten me by a country mile. Can anyone top 27?

You'll need to start a new thread to stay on topic with that one. And it's been done before.

PS there are people on here that can beat 27 by a country mile..

steveksullivan

@I-LOV-MONEY I just tried it, and it is engaged (!).  

Good luck getting through to Santander !! Wait times are typically more than an hour and guessing now they will be even more busy.

Good rate though just opened instantly.

Hopefully this means that (temporarily) I wont get the payment blocked/account locked scenarios I have been getting from my Santander current account as I can now move all my instant access to this one!!

mebu60

Sg28 said:

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.

It's 2.75% variable for 12 months. It will become a standard eSaver in a year. 

Rather convenient timing. I had a lump arrive in my Santander current account this morning from one provider intending to move it elsewhere today but now sits in this eSaver Limited Edition Issue 1. Opened and transferred in a couple of minutes max! 

Well done Santander. I'm not expecting to wake up and find it's all a dream. That would also require doing the laundry again :-(

I-LOV-MONEY

I-LOV-MONEY said:

Hi.  I have just opened the Santander account.   It seems to have found two old accounts that I had years ago (I don't remember them!).  Can I create a new id?   Their customer service telephone numbers are 0845.   I thought those numbers had been abolished and replaced by 0345 numbers.   Presuming the number on the page 0845 328 1328 works with 0345, I just tried it, and it is engaged (!).  That is a hopeful sign, as if it wasn't working it would be number unobtainable.

Anyway, having created the account, how do I register for a new id, and how do I fund the account?

Thanks for your help.

I have just gone through Register an account.  Having done that, I now have to wait for 3-5 days for log on details to be sent in two letters !    Ho hum!   I thought this would be easy.

Noneforit999

Nick_C said:

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.

I really don't have the time to keep moving money between savings accounts like that.

We have had £180k in chase for four months now and I am only about to jump ship to Santander as the rate has increased to make it worth my time.

With a £25k a day limit, it takes me a week to move the money anyway so I can't be bothered to keep doing this for 0.25% change each time, hence why I just wait for a decent difference in the rate and then move once.