Regular Savings Accounts: The Best Currently Available List!

briddj

Can I get the HSBC Premier Account, and just switch £1,750 between accounts on the same day, thus satisfying the £1.75k paying (and the £1k payin on the other account)? Or does HSBC Premier have to have your salary go into it?

briddj

briddj wrote: »

Can I get the HSBC Premier Account, and just switch £1,750 between accounts on the same day, thus satisfying the £1.75k paying (and the £1k payin on the other account)? Or does HSBC Premier have to have your salary go into it?

Actually I meant HSBC Advance here. I can see it doesn't need to be your wage on this, but I can't work out if you have to have a minimum running balance? So can I recycle in the £1.75k each month and effectively have that account running at £0 but still benefit from the 5% regular saver?

KTF

You can have the HSBC account with a 0 balance and still get the regular saver. This is what I do.

briddj

KTF wrote: »

You can have the HSBC account with a 0 balance and still get the regular saver. This is what I do.

Perfect. Thanks. Easy 5% then.

purplemusky

Hi All - I have my TSB monthly saver account maturing this month and wondered what my best option would be now. I was thinking of opening a Nationwide Flex Direct account. Can I open one in my sole name and one in joint names? Thanks

Rich2808

purplemusky wrote: »

Hi All - I have my TSB monthly saver account maturing this month and wondered what my best option would be now. I was thinking of opening a Nationwide Flex Direct account. Can I open one in my sole name and one in joint names? Thanks

Yes you can have both a single and joint flex direct. You get 5% for 1 year on up to £2,500 - you must pay in £1k a month - and get access to the 5% flexclusive regular saver (up to £500 a month).

And if you do a switch with two direct debits you would also be eligible for the Nationwide recommend a friend scheme. You just find an existing NW current account holder to refer you and you can share £100 each - you can even refer family members/spouses and share the £200.

http://www.nationwide.co.uk/products/current-accounts/our-current-accounts/recommend-a-friend-tab

soulsaver

purplemusky wrote: »

Hi All - I have my TSB monthly saver account maturing this month and wondered what my best option would be now. I was thinking of opening a Nationwide Flex Direct account. Can I open one in my sole name and one in joint names? Thanks

Yes but according to NW CS, you will not get the 5% on both - unless the joint is opened as OH first named on the joint account.

Others here argue you do/can... but no one has said NW agrees you can have 3 between 2 people, all earning 5%.

pafpcg

soulsaver wrote: »

Yes but according to NW CS, you will not get the 5% on both - unless the joint is opened as OH first named on the joint account.

Others here argue you do/can... but no one has said NW agrees you can have 3 between 2 people, all earning 5%.

I wonder if the NW CS advisor was thinking of the procedure for applying to open a joint FlexDirect account?

However, a Nationwide web-page on the FlexDirect says this:

Opening multiple FlexDirect accounts: Under the terms and conditions of this account customers are only entitled to one promotional credit interest rate of 5% AER. The only permitted exception to receive more than one promotional rate is if the additional account is held in joint names.

I interpret that Nationwide statement as any individual can get the 5% rate on one sole account and one joint account; two individuals can therefore have, between them, two sole accounts and one joint account. I would suggest that any other interpretation, such as the second-named person on a joint account could not also have a sole account, would be perverse.

In my case, my partner and I have each had one sole FlexDirect account and shared a joint account - no problems opening and receiving the full 5% rate on all three accounts for twelve months.

Special_Saver2

Hi Everybody,

Here is this weekend's update.

- Virgin Regular Saver and Regular E-Saver accounts updated to issues 3 and 4 (replacing issues 2 and 3 respectively) in post 7

Thanks to Jo Blogs for pointing this out.

Many thanks to all the forum users who to continue to make useful posts on this thread with helpful information.

I will do another update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...=608697&page=1

soulsaver

pafpcg wrote: »

I would suggest that any other interpretation, such as the second-named person on a joint account could not also have a sole account, would be perverse.

I didn't say you can't have a sole and joint account; indeed - that interpretation of what I and the NW CS said, would an indicator of.. perversity.