Hard to access saving account?

Julene

Good afternoon everybody.

I was wondering if anyone knew of a savings account that had a 30/60day notice period for withdrawals? I have an ISA and I wanted to start another savings account that I couldn't just dip into as I chose.

Sorry my first post is a request.
Thanks.

Julene

Ignore me! Ill have a good look around first. if I get stuck Ill come back.

bristolleedsfan

Julene wrote: »

Ignore me! Ill have a good look around first. if I get stuck Ill come back.

Sorry, No reply until 1 hr after your original post. :eek:


http://www.moneyfacts.co.uk/savings/bestbuys/default.aspx

neilp

How much would you like to save per month? I would recommend not going for a notice ISA - it can make it difficult to transfer to another provider if rates are dropped. For savings accounts, no-notice accounts actually tend to pay better rates than notice accounts.

If you are looking to save a regular amount each month, your best option may be a regular savings account. These pay higher rates, require a monthly deposit (usually up to £250, but this varies), and restrict withdrawals - usually until after a year, though again, this varies. There is an article on this site about these accounts, which recommends best buys, though I have found that it is not that comprehensive or up to date. There are also threads in this forum that monitor best buys, or you could use a service like moneysupermarket.com

As far as I am aware, the best paying regular savings accounts not linked to a current account (ie only available to current account holders of the same bank) are Abbey and Skipton Building Society. Both of these allow savings of up to £250 per month for a year. However, my information could well be out of date!

Best of luck

mickymellon

go with the Abbey as they are pretty useless and wouldn't give you your money if you walked in to a branch personally :rotfl:

neilp

That is a good point, actually! I tried opening an Abbey regular saver over three weeks ago - they asked for lots of photocopies of ID, which noone else has done because I'm on the electoral role, they refuse to talk to me about my application when I call them, saying that for security reasons enquiries can only be made in branches, and then sent back my application last week saying that as a further security measure they needed me to sign the bottom of the letter they sent me.

This all adds up to stunning inefficiency and I am withdrawing my application (though I can't do this until they finally open the account, as they won't discuss any aspect of my application with me unless I queue in a branch). I would rather earn a bit less with a provider I have confidence in than put up with this sort of nonsense!