Regular Savings Accounts: The Best Currently Available List!

colsten

adindas wrote: »

Read this,
If you are doing it by daisy chain of SO. It might cost you a fortune

As long as the outgoing SO amount is smaller than your total balance in the account, the risk of anything going wrong with properly set up SOs is minute. And if something does go wrong, it will at worst cost a few pennies in lost interest.

I have been doing literally all my monthly deposits by SO for years. The only payments I do manually are those OUT of my Halifax accounts. The payments IN to them also happens by SO. I have never once had any problem to date and am confident that I won't have any in future.

Jimmithecat

Ken68 wrote: »

Letter received today....Ipswich BS Smart Save will close to new customers from 1st. October 2016 and existing account holders will have their interest cut by 0.25% to 3.25% including 3% conditional bonus.... and withdrawals will increase to two per anniversary year.

You beat me to it - I was just going to post this - still a great deal with the reduced interest rate:j

glider3560

Jimmithecat wrote: »

You beat me to it - I was just going to post this - still a great deal with the reduced interest rate:j

Same here!

I withdraw all but £50 about a week before the anniversary date. That means, for the next anniversary year, you get £50 at 0.5% and the remainder at 3.25%. A very good deal.

Kim_13

Jimmithecat wrote: »

You beat me to it - I was just going to post this - still a great deal with the reduced interest rate:j

Very. Just went onto their website with the intention of opening one before it closes, but wrong postcode

ASavvyBuyer

adindas wrote: »

Read this,
If you are doing it by daisy chain of SO. It might cost you a fortune ...
http://www.telegraph.co.uk/finance/personalfinance/bank-accounts/11577641/My-scheme-to-earn-extra-interest-on-current-accounts-failed-heres-why.html

That article says that the Tesco current account has a monthly funding requirement. Has that changed? Can't find anything in the T&C's that says it now does.

ASavvyBuyer

adindas wrote: »

Read this,
If you are doing it by daisy chain of SO. It might cost you a fortune ...
http://www.telegraph.co.uk/finance/personalfinance/bank-accounts/11577641/My-scheme-to-earn-extra-interest-on-current-accounts-failed-heres-why.html

That article implies that the Tesco current account has a monthly funding requirement. Has that changed? Can't find anything in the T&C's that says it now does.

[Deleted User]

ASavvyBuyer wrote: »

That article implies that the Tesco current account has a monthly funding requirement. Has that changed? Can't find anything in the T&C's that says it now does.

The monthly funding requirement for the Tesco Bank current account was removed some time ago, certainly before October 2015 when I opened my first one.

Kim_13

ASavvyBuyer wrote: »

That article implies that the Tesco current account has a monthly funding requirement. Has that changed? Can't find anything in the T&C's that says it now does.

There used to be a £5 monthly fee unless £750 was paid in per statement month. It was dropped last September, when Santander announced they were upping the 123 account fee.

Ashen

glider3560 wrote: »

I withdraw all but £50 about a week before the anniversary date. That means, for the next anniversary year, you get £50 at 0.5% and the remainder at 3.25%. A very good deal.

How practical is it to withdraw from the account [Ipswich BS Smart Save Monthly]? I'd like to open one, but not sure just how easy that would be. I'm eligible via postcode, just not easy to get to a branch.

glider3560

Ashen wrote: »

How practical is it to withdraw from the account [Ipswich BS Smart Save Monthly]? I'd like to open one, but not sure just how easy that would be. I'm eligible via postcode, just not easy to get to a branch.

I am also nowhere near a branch. I write them a letter and they send a cheque. The service is very prompt.