Instant access a/cs.

jimloughran

Can anyone suggest an instant access a/c, that I can open WITHOUT a cheque book, (I've only got a basic a/c), and which pays a decent rate of interest? It's for a few grand, which will be used for home improvements, and a new business; I've got a few high interest savings a/cs, and an ISA, but don't want to put the money in any, as there are penalties for more than 1 withdrawl a year, and the money will be coming out in drips and drabs.
Ta. There's a lot of a/cs out there, and it's hard work sifting through them!

marshall2k

Kaupthing Edge are pretty good! Rate is 6.5%

[EDIT] I guess your debt problems are sorted else you'd be paying those off?

jimloughran

I was considering this one, but didn't like the idea of a foreign based bank, in case it went "Northern Rock". However, I think it looks a safe bet; ta for the advice.

Money_Girl_4

Looking at Kaupthing Edge website they are covered by the FSCS so your money will be safe up to £35,000 if it should go "Northern Rock", though i dont believe Northern Rock actually went under.
The below came from their website:

"We are part of the Financial Services Compensation Scheme (FSCS). The scheme is the UK’s statutory fund of last resort for customers of authorised financial services firms. This means that FSCS can pay compensation if a firm is an independent body, set up under the Financial Services and Markets Act 2000 (FSMA). The service is free to consumers.
More information about the protection provided is available from www.fscs.org.uk"

SuperSal

Hi, we are in the process of opening an Abbey Easy Access Account, pays 6.5% no penalties etc. you must open with £1000 and keep that amount in to get the high interest
You apply on-line but the account is by post or branch.
Only trouble is we applied on 17th May, apparently it takes 7-10 days to activate, then you send your cheque, then you can access from branch etc.

We are still waiting and after ringing today was told "There is a backlog and we are sorry."

I've heard this excuse/reason 3 times today when chasing things up.
Not good enough

isofa

Why does anyone use Abbey? http://forums.moneysavingexpert.com/showthread.html?t=918361 and many more like it.