The Top Fixed Interest Savings Discussion Area

mm707

Anyone had any issues with first save ? For peace of mind I sent a £10 initial test payment via electronic transfer  prior to larger amounts  and they've sent it back.

BooJewels

I suspect that First Save will only accept whatever the minimum payment is for the account.  I did this a couple of weeks ago and the bank confirmed the payee name, so after checking the numbers very carefully, sent the minimum amount.  They don't send an email when a balance arrives like others, so perhaps wait until you've got your log in stuff sorted, so that you can check when it arrives.

GlasgowExpat2

mm707 said:

Anyone had any issues with first save ? For peace of mind I sent a £10 initial test payment via electronic transfer  prior to larger amounts  and they've sent it back.

I had the same issue, it’s because the minimum opening balance is £1,000

Steve_xx

GlasgowExpat2 said:

mm707 said:

Anyone had any issues with first save ? For peace of mind I sent a £10 initial test payment via electronic transfer  prior to larger amounts  and they've sent it back.

I had the same issue, it’s because the minimum opening balance is £1,000

I sent £10 to Firstsave and it was returned.  I then sent £1000 and that's gone in fine. I had intended to fund it with a larger amount,  but Castle Trust then brought out their 6.2% 1 year fix and so I opted for that instead. 

CaptainWales

uk1 said:

Thanks,

I’ve applied for a joint account online and was told to wait for the pack in the post.  Is that normal or should I receive the bank details online?

Also does Vanquis automatically split the interest equally between us when reporting to Inland Revenue?  They haven’t requested NI numbers so I presume the Inland Revenue works it all out from addresses? 

I thought the same with NI numbers. Anybody know? 

sibby_cash

uk1 said:

sibby_cash said:

uk1 said:

SJMALBA said:

Vanquis:
1 Year @ 6.15%
2 Year @ 6.2%
3 Year @ 6.06%
1k min., monthly interest option.
https://www.vanquissavings.co.uk/view-fixed-rate-bonds/ 

Thanks for posting.

When opening accounts I like to test my accuracy by sending a test payment of a £1.

 It says that payments must be completed with 30 days of application AND all payments must be within 5 days of your first payment.  Is the £1000 minimum deposit  taken to mean £1000 in total - in other words can I pay in a £1 or must my first payment in be £1000?

Thanks. 

If you send £1 they will send it back and email you to confirm that they have returned it. To make an actual deposit to your account you must send at least £1,000. 

Thanks,  that would seem to work for me!  Does the account remain open or do they close it after they return the £1?

It remains open. 

kidwell25

Just applied for a Vanquis bond but for some reason it can't verify my nominated account details and is requesting a bank statement by post (original or certified copy). Does anyone know whether, in practice, they will accept an emailed pdf?

kwangomango

kidwell25 said:

Just applied for a Vanquis bond but for some reason it can't verify my nominated account details and is requesting a bank statement by post (original or certified copy). Does anyone know whether, in practice, they will accept an emailed pdf?

Same for me last year. I'm pretty sure I had to send a hardcopy as they wouldn't accept anything over email.

dharm999

With the inflation news this morning and future rates forecast to top out at c6%, then iI think I am going to move some of the money I have in easy access accounts to one year fixed term accounts.  I have a couple of fixed interest accounts maturing next month and October, so that will go in to easy access accounts, to replace the money I am moving in to fixed interest accounts.  I may well be losing out on upto 0.5% of interest if rates do go above the current forecast, but I am happy to do that, to get some certainty.  

I have opened a 1 year Vanquis account and also a 1 year Smartsave account, so have locked in at least 6%.

Frequentlyhere

Yup, I think it's a good time personally to lock in rates, I wouldn't be surprised to see some of the top rates yanked shortly.

If anyone else like me has a Ford Money fixed rate maturing next month, then be aware that you can set your renewal quite far in advance (18mth = 6.05%). You can always change your mind later, but good to be able to lock in the option of that rate.