Savings account for me to set up online???

damo

I want to set up a savings account online which I can have a direct debit of about a £100 a week going into it (which I can change the amount if needed)

Im new to all this so would like to find somewhere that makes it all as easy as possible to set up. Im not bothered about having to give notice on withdrawing the money.

Any advice or where the best/easiest site to do this would be much appreciated. Thanks

Rikki

I have a deposit account with cahoot. On my current account (different bank) I have the account details for cahoot, I can go on-line any time transfer any amount of money in.

grumbler

damo wrote:

I want to set up a savings account online which I can have a direct debit of about a £100 a week going into it (which I can change the amount if needed)

I think you should consider some regular saving account that pay higher interest that ordinary saving accounts. See link in the blue bar above.
For such an account you set up Standing Order (not Direct Debit) on your current accont (in the same or other bank) to transfer money regularly every month. Usually you can change SO online if you want to change amount or date of the next payment (better to do this at least 5 days before payment date).

Rikki

If you haven't got a cash isa for this year. Abbey did one you could pay into when an however much you wanted up to the £3000 yearly limit. ( I don't know if this one is still avaliable,but there might be something simular)

realaledrinker

Do NOT UNDER ANY CIRCUMSTANCES open a Halifax Regular Saver Account online as their systems cannot handle the situation where you open an account in one channel (internet) but provide ID in a different one (branch).

Open the account and provide ID in a branch and at the same time.

See my tale of woe. STILL not resolved.

http://forums.moneysavingexpert.com/showthread.html?t=75307

ReportInvestor

Hi damo,

Congratulations on your first post.

Regular savers offer the best interest rates by far for the function and purpose you describe but they are invariably not internet accounts. You can choose from the following, among others:

1 Year Bond Regular savers
Halifax - but see the comment above by rad - 7.0%
Principality BS - 6.75%
Leek Utd BS - 6.0%

Longer term regular savers
Scarborough BS - 6.0%
Yorkshire BS - 5.85%
Derbyshire BS - 5.85%

BUT Rikki is right to put Cash ISAs first on your shopping list assuming you are a taxpayer.

Good luck with your future Money Saving .

damo

Cheers for the advice peeps. I dont already have a cash isa so I think I will look into this first.