Cheshire BS regular saver 8% Gross

Hobo_2

booogle, yes i plan to do that, i opened mine in branch (their 1st for this account)

max2002ad

I am in the process of opening a cahoot savings account and am wondering if i can use my new account to run all the standing orders for both halifax and for cheshire?

Thanks for the help

chxsom

So we're agreed that it would be better to be heavy on payments towards the start, loosening off towards the end (and perhaps by then directing more into another regular saver?)?

Hobo_2

Max2002ad, i have sent S/Orders from my Cahoot savings directly on a month by month basis to 3 different reg saver accounts, with the Cheshire you should just need their sort code/account number & your RS account number as referance

dealseeker

dealseeker wrote:

Can it be opened in Trust for Children to take advantage of tax allowance / parental limits applying?

Just called. Yes no problem. So get 8% tax free for kids of course subject to inland revenue £100 annual limit.

MarkyMarkD

That doesn't allow you to save very much. The maximum £500 a month x 12 months = around £240 in interest. And that's assuming you haven't already stashed some money on behalf of the kids.

MarkyMarkD

chxsom wrote:

So we're agreed that it would be better to be heavy on payments towards the start, loosening off towards the end (and perhaps by then directing more into another regular saver?)?

No, that understanding is WRONG. Every payment you put in earns the full 8%. You can withdraw all the money at the end of the year. There's no logic in putting in less in later months unless you simply don't have the money - you should pay in the maximum amount as early as possible in each month to maximise the interest earned.

dealseeker

MarkyMarkD wrote:

That doesn't allow you to save very much. The maximum £500 a month x 12 months = around £240 in interest. And that's assuming you haven't already stashed some money on behalf of the kids.

Agreed but where can you get better return than 8% pa with no tax and no risk. There is a £200 Inland Revenue interest limit in the year anyway (£100 for each parent) unless it is investment is from others grandparents etc.

shropslad

loobs40 wrote:

The account has disappeared from the Cheshire website. I sent my signed application in on Friday. Hope that means I have got it

You must have called to register your details, so I'd find it hard to believe that you would be disappointed. I sent my application back last Thursday and the account pass books etc arrived yesterday. So you should get something in the post very soon.

Kazza242

I just rang the Cheshire. The adviser said that they would allow all savers that have received an application form for the account to still apply. He said they also have a number of call backs to process, and that they too, would be allowed to apply for the account.