Best Icesave-a-like?

blizeH

Due to them releasing this recent ISA, and my inability to resist transferring my money into there, I'm now going to have to transfer a lot out of my regular saver account as to not go over the FSA's regulated/guaranteed limit.

So I'm after a savings account that's basically an Icesave-a-like: no catches, very simple to open and function, can withdraw without penalties (very important since I can't withdraw from either of my Icesave accounts now really) and a decent interest rate would be a great bonus. Apologies for creating another savings thread, but my circumstances have changed a lot since my last one!

Thanks

isofa

Personally I wouldn't worry about the FSA limit, more chance of seeing a flying pig than Landsbanki (owners of Icesave) going under, but each to their own risk profile.

You might want to read this read re FirstSave... sounds good:
http://forums.moneysavingexpert.com/showthread.html?t=688527

blizeH

Many thanks for the reply, I'm tempted to just forget about the FSA limit (I'd love to bank purely with Icesave, a lot less hassle, and they seem awesome) but I still don't really know an awful lot about them, so I'm not sure it'd be a good idea or not.

Many thanks for the link, seems like a good account but I've heard a lot of bad things about both FirstSave and ICICI so I'd like to avoid them if possible, I think.

/paranoid :-)

Paul_Herring

ICICI?

Oh - you wanted simple to open and function. Never mind.

blizeH

:rotfl:

*high five*

isofa

I haven't heard much about FirstSave hence my earlier thread, but ICICI get's mixed reviews, some people have had problems, others not. Icesave has been brilliant from my and my colleagues experiences, so it's always at the top of my list.

blizeH

Many thanks, think I'll actually give that a miss then, don't fancy investing my money into somewhere that's pretty much unproven.

Was going to go with Sainsburys, but noticed it says "Withdrawals are by transfer to another account only." at the bottom

Ximian

Asda also provide a websaver account @ 6.25%: http://www.asdafinance.com/internet-savings.html

• An amazing variable rate of 6.25% p.a. Gross/AER
  (includes a bonus of 0.75% gross p.a. for the first 12 months)
• Base Rate Guarantee - After the first 12 months we guarantee
  that your rate will follow the Bank of England Base Rate until
  the end of October 2010
• Same great rate no matter how much you save
• No penalties for withdrawing your money
• Choice of monthly or annual interest
• Open an account with just £100
• 24/7 secure online access

http://www.asdafinance.com/internet-savings-faq.html

Seems ok, the rate is pretty decent compared to others. I don't bank with ASDA btw, just thought I'd mention ASDA as an alternative bank that offers a decent rate with a guarantee.

noh

blizeH wrote: »

Many thanks, think I'll actually give that a miss then, don't fancy investing my money into somewhere that's pretty much unproven.

Was going to go with Sainsburys, but noticed it says "Withdrawals are by transfer to another account only." at the bottom

But that is withdrawals to any other account with any bank so much less restrictive than Icesave which only alows withdrawals to one pre nominated account.

Nigel

Paul_Herring

noh wrote: »

But that is withdrawals to any other account with any bank so much less restrictive than Icesave which only alows withdrawals to one pre nominated account.

I must be unusual then. I have two accounts tied to IceSave. LTSB and Nationwide.

noh

Paul_Herring wrote: »

I must be unusual then. I have two accounts tied to IceSave. LTSB and Nationwide.

Yes you are:D . Upto about six months ago they allowed two linked accounts but now only allow one. They will allow people with two linked accounts to keep them but if you need to change accounts they will only allow one.

Nigel