how much to leave in an account, just in case in the future they have deals for customers

clairec666

vacheron said:

Based on the last Skipton regular saver, of 7% on £250 you would make about £100 per year if you maxed out the monthly limit. I'd assume this issue could be closer to 5.5%.

By comparison, switching the Skipton account to one of the many banks currently offering £175 cash to switch and then putting the money into a standard 3.5% savings account would make you about £225 in total.   

Can't switch out of Skipton as they don't do current accounts, and switching bonuses are only for current accounts, not savings.

vacheron

clairec666 said:

vacheron said:

Based on the last Skipton regular saver, of 7% on £250 you would make about £100 per year if you maxed out the monthly limit. I'd assume this issue could be closer to 5.5%.

By comparison, switching the Skipton account to one of the many banks currently offering £175 cash to switch and then putting the money into a standard 3.5% savings account would make you about £225 in total.   

Can't switch out of Skipton as they don't do current accounts, and switching bonuses are only for current accounts, not savings.

I did not know that. Thank you. 

Bridlington1

Barkin said:

clairec666 said:

"You only need £1 saved or a mortgage with us to be a member."

Who are you referring to? Skipton or "some building societies"?

As always, refer to the relevant T's&C's.

e.g. The Cambridge has a regular saver that's only available if you've held another product for 3 years, and the minimum balance on their savings products seems to be £100.

Quite different to Skipton's eligibility criteria...

Not all of them, they have a First Saver with a minimum balance of £1, though it's for under 21s only. I opened the account with £1 a few years back, it was converted into a maturity account when I was 21, also with a £1 minimum balance.

Barkin

Bridlington1 said:

Barkin said:

clairec666 said:

"You only need £1 saved or a mortgage with us to be a member."

Who are you referring to? Skipton or "some building societies"?

As always, refer to the relevant T's&C's.

e.g. The Cambridge has a regular saver that's only available if you've held another product for 3 years, and the minimum balance on their savings products seems to be £100.

Quite different to Skipton's eligibility criteria...

Not all of them, they have a First Saver with a minimum balance of £1, though it's for under 21s only. I opened the account with £1 a few years back, it was converted into a maturity account when I was 21, also with a £1 minimum balance.

Fairy nuff. I only checked a few random accounts, and I haven't qualified for an under 21's account for many many years...

35har1old

Bridlington1 said:

Barkin said:

clairec666 said:

"You only need £1 saved or a mortgage with us to be a member."

Who are you referring to? Skipton or "some building societies"?

As always, refer to the relevant T's&C's.

e.g. The Cambridge has a regular saver that's only available if you've held another product for 3 years, and the minimum balance on their savings products seems to be £100.

Quite different to Skipton's eligibility criteria...

Not all of them, they have a First Saver with a minimum balance of £1, though it's for under 21s only. I opened the account with £1 a few years back, it was converted into a maturity account when I was 21, also with a £1 minimum balance.

The Cambridge also have a Regular Saver for  members that have held an account for 1 year currently paying 5%

hpas251

mta999 said:

Some building societies used to specify you had to have at least £100 in savings to be a 'member' - not sure if that is still true.

I believe that's to be allowed to vote in elections for directors and AGM resolutions.