Completely Online Savings process?

qwerty789_2

Does anyone know who offers a totally online savings account? So identity checks online, nothing to sign and return, ability to deposit via debit card or bank transfer from the start. Can anyone help?
Thanks!

Milarky

qwerty789 wrote: »

ability to deposit via debit card or bank transfer from the start. Can anyone help?
Thanks!

Err I think you must be talking Eggs sir! I don't know other savings provider who allows you to use a debit card (other than HSBC to open their online saver) for run of the mill stuff. The majority of online accounts seem to restrict you to a single (or possibly a few) personal current accounts (especially the higher rate paying ones) to make payments out to - whilst others will provide sound kind of general transfer facility (I think it's called 'BACS'!) so they resemble online bank accounts more than savings

Look out for the quicker BACS payments from 27 May - which, if they work as suggested, would allow you to leave your cash in a more restricted product and still be able to make 'onward' payments via your current account the date of withdrawal.

dwsjarcmcd

Milarky wrote: »

Err I think you must be talking Eggs sir! I don't know other savings provider who allows you to use a debit card (other than HSBC to open their online saver) for run of the mill stuff

Yorkshire Building Society allows debit card payments into its online accounts.

As for totally online accounts, doesn't A & L allow this?

merlinthehappypig

Northern Rock's silver saver account was totally online when we opened it last week. We even got the account number at the end of it. 5 minutes work and it was open and ready to pay in to. Don't think it allows debit card payments though & can't see it on the website anymore so may have been withdrawn. The other accounts might be similar.

Contrast this with Abbey who haven't even contacted us a week after we applied online.

marshall2k

Kaupthing Edge has been entirely online for me except that they sent me a password by snail mail. Pay in by BACS (Or CHAPS)

dwsjarcmcd

marshall2k wrote: »

Kaupthing Edge has been entirely online for me except that they sent me a password by snail mail. Pay in by BACS (Or CHAPS)

They do that for security reasons i.e. if you haven't opened an account andsomeone else has, you'll know about it. That would be considered 'best practice'

qwerty789_2

Well there doesn't seem to be much out there - i'm surprised as i was hoping i would be spoilt for choice!

What about First Direct? Has anyone opened an online savings account with them?

chesky369

I've never opened an account yet (and I've opened lots) where the arrangements haven't been backed up by them confirming by hard copy in the regular mail. Also, it's a matter of luck whether or not a bank might require you to send your passport or something similar, again by snailmail. They don't always but you can never be completely sure they won't ask.

JET184

Look at this....
http://www.easier.com/view/Finance/Savings/Bonds/article-175397.html

A paperless e-bond from Yorkshire Building Society

Baldur

JET184 wrote: »

Look at this....
http://www.easier.com/view/Finance/Savings/Bonds/article-175397.html

A paperless e-bond from Yorkshire Building Society

From that page "......where actual signatures and identification documents are not required in most cases." - so potentially not 'paperless'....;)

nrsql

All institutions have to verify your identity (although some ask for a lot more than is required).
You won't be able to guarantee a completely on-line process with anyone.
But if you're been in one place for a long time and always registered at that address then it's more likely.