Regular Savings Accounts: The Best Currently Available List!

tomthered

Am i right in understanding that I can have several bank accounts that have good savings rates, put money in each, and to comply with the input of £xx per month, just transfer the relevant sum each month via standing order then transfer that amount out into another account next day?

glider3560

tomthered wrote: »

Am i right in understanding that I can have several bank accounts that have good savings rates, put money in each, and to comply with the input of £xx per month, just transfer the relevant sum each month via standing order then transfer that amount out into another account next day?

Yes. My standing orders transfer in and out on the same day. Just ensure you always keep a credit balance higher than the standing order out, just in case the incoming SO doesn't arrive.

adindas

tomthered wrote: »

Am i right in understanding that I can have several bank accounts that have good savings rates, put money in each, and to comply with the input of £xx per month

Yes

[QUOTE=tomthered;7110517
just transfer the relevant sum each month via standing order then transfer that amount out into another account next day?[/QUOTE]

If you are doing SO and do not have reasonable balance on your ac you will need to provide at least three days (or even four days) slack to cover the worst scenarios e.g weekend, bank holidays, online banking system failure on one of the the banks you are using.

teddysmum

adindas wrote: »

For the flex direct account few people have confirmed that the system could pick up if you have two of these accountants and therefore you will only one ac with 5% interest.

Has anyone tried to test the system for RSA whether the system could detect if you open two or more RSAs with Nationwide???
Is there anyway where to ask the monthly interest payment instead of annual, so you could detect it earlier and if the interest is not paid you could close it after one month ??

When you open and account, they can see what accounts you have when they log into the system, so surely would know if you tried to open too many accounts.


My husband and I opened two current accounts this morning; one in his name and one joint and the manager knew that I already had an account in my name.

Speculator

When the Flexdirect was launched I managed to hold 7 x Flexdirect accounts at the same time (5 x new a/cs & converted 2 existing Flex accounts) and was paid the full 5% on each a/c for a year.

Since then, they've placed a limit of 1 x 5% a/c per person. It maybe possible to open more a/cs but you will not get 5% on the additional a/cs.

I've just helped my mum convert her existing Flexaccount to a Flexdirect so she gets 5% fixed for 1yr on £2500. However, although the "Flexdirect" a/c is showing in online banking with same bank details, it won't allow her to open a Flexclusive Regular saver.

Anyone know how long she has to wait before the system allows her to open the Flexclusive Reg a/c?

colsten

Speculator wrote: »

Anyone know how long she has to wait before the system allows her to open the Flexclusive Reg a/c?

I seem to remember it's an overnight matter. But may be you have to wait for "next working day processing" now, i.e. it could be Monday or even Tuesday before she can do it online. Have you tried calling them about it? 0800 302010

Speculator

colsten wrote: »

I seem to remember it's an overnight matter. But may be you have to wait for "next working day processing" now, i.e. it could be Monday or even Tuesday before she can do it online. Have you tried calling them about it? 0800 302010

Thanks, I will try again after midnight but I think you're right about waiting until Mon/Tues.

My mum does not speak much English so no point calling them because she won't be able to answer the security questions.

badger09

Is it worth trying the secure message facility?

I haven't used it recently, but in the past, when I have, response was quite prompt:)

adindas

teddysmum wrote: »

When you open and account, they can see what accounts you have when they log into the system, so surely would know if you tried to open too many accounts.


My husband and I opened two current accounts this morning; one in his name and one joint and the manager knew that I already had an account in my name.

When I know that I will break their T&C I am not going to try to open it over the phone for obvious reason.

I do not remember how I open my NW RSA, but what I mean is to open it online (if possible) rather than via phone ...

Speculator

badger09 wrote: »

Is it worth trying the secure message facility?

I haven't used it recently, but in the past, when I have, response was quite prompt:)

Thanks. I will try that if it doesn't let my mum open the account tomorrow.