The Top Easy Access Savings Discussion Area

hansi

causion with the shear

scooby32

Im looking for an easy access saver and having money in most of the big banks want something seperat. have looked at Egg and Northern rock has anyone opened an account with these recently. If its anything like the tesco fiasco I had earlier this year a no go. I dont want a long winded opening pocess and would like on line but with good customer service. Trying to split money so I have under 50k anywhere which means some accounts are out

Steve_xx

scooby32 wrote: »

Im looking for an easy access saver and having money in most of the big banks want something seperat. have looked at Egg and Northern rock has anyone opened an account with these recently. If its anything like the tesco fiasco I had earlier this year a no go. I dont want a long winded opening pocess and would like on line but with good customer service. Trying to split money so I have under 50k anywhere which means some accounts are out

The Birmingham Midshires Telephone Extra Account is a simple account paying 3.15%. The only drawback from your point of view is that it is phone operated as opposed to online. Though you can transfer into it oline I think, you have to ae the phone to withraw funds. Here's a link:

http://www.askbm.co.uk/savings/t/easy/product.asp?id=286

G_M

Steve_xx wrote: »

The Birmingham Midshires Telephone Extra Account is a simple account paying 3.15%. The only drawback from your point of view is that it is phone operated as opposed to online. Though you can transfer into it oline I think, you have to ae the phone to withraw funds. Here's a link:

http://www.askbm.co.uk/savings/t/easy/product.asp?id=286

Birm Midshires is part of HBOS. If you have savings in the AA, Saga, BOS, Halifax, IF, then you are only protected to £50K across them all (£100K joint account). see here.

Steve_xx

G_M wrote: »

Birm Midshires is part of HBOS. If you have savings in the AA, Saga, BOS, Halifax, IF, then you are only protected to £50K across them all (£100K joint account). see here.

In actual fact they are all part of LloydsTSB. Though for now they seem to be operating under two licences.

G_M

Steve_xx wrote: »

In actual fact they are all part of LloydsTSB. Though for now they seem to be operating under two licences.

True - part of LLoydsTSB. But NOT so far as the FSA guarantee scheme is concerned which was my point. The OP does not need to worry about any accounts held with LloydsTSB impacting on a Birm Midshires account's security.
OP DOES need to consider the HBOS accounts I listed.

scooby32

scooby32 wrote: »

Im looking for an easy access saver and having money in most of the big banks want something seperat. have looked at Egg and Northern rock has anyone opened an account with these recently. If its anything like the tesco fiasco I had earlier this year a no go. I dont want a long winded opening pocess and would like on line but with good customer service. Trying to split money so I have under 50k anywhere which means some accounts are out

can anyne help

JimmyTheWig

From the article...

You've £100,000, and can get 5% in a year long fixed account and 3% in an instant access account. You'd like roughly £5,000 of interest from these savings to supplement your income.

Put £95,000 in the fixed account, and £5,000 in the instant access. Then spend the instant access money over the year, knowing the £4,750 interest earned in the fixed account will make up for it. Then you're effectively getting the high rate and spending the interest.

This implies suggesting someone puts £95k into one bank. Only £50k of this would be protected!

Steve_xx

JimmyTheWig wrote: »

From the article...

This implies suggesting someone puts £95k into one bank. Only £50k of this would be protected!

If it was a joint account the protection would double to 100k

dwsjarcmcd

scooby32 wrote: »

Im looking for an easy access saver and having money in most of the big banks want something seperat. have looked at Egg and Northern rock has anyone opened an account with these recently. If its anything like the tesco fiasco I had earlier this year a no go. I dont want a long winded opening pocess and would like on line but with good customer service. Trying to split money so I have under 50k anywhere which means some accounts are out

As an online opening process you could try Barnsley B.S. They are part of Yorkshire B.S. and have adopted YBS online account opening process, which means most get verified online and you can deposit via debit card there and then. It pays a clean 2.5% i.e. no bonus rates, which is higher than YBS, although with YBS you get a cashcard for withdrawals and a decent rate of 2.1%.

Another new account is the Intelligent Finance isaver at 2.85%, you need to watch you don't have too much with the HBOS group of which it's part. Not a great account opening process IMHO not a good rate.