need a decent drip feeder account

mindovermatter

Hi
I need a decent drip feeder accouint to pay two lots of £500 into my newly created Halifax Regular Saver fro myself and the wife.
All I want to do is make a deposit of £11000 and arrange 22 direct debits of £500 over 11 months into the 2 accounts.
Can anyone help?
Best wishes
Mindovermatter

Mikeyorks

You can't DD into the Regular Savers .... it has to be a SO or a 'bill payment'. The problem with most feeder accounts is that they are tied to a linked account .. and you can only extract money into that .. so you have to do a 'dog leg' to get it into the RS. The Halifax Websaver is the most convenient account to transfer from .. but the current interest rates (tiered from 4.36% to around 4.5%) are pathetic.

The best account which parmits direct transfers / SOs appears to be the Tesco Internet at 6.25%. Does include a one year bonus ... but that probably fits the bill for what you want :-

http://www.tescofinance.com/personal/finance/savings/savingsaccounts/internetsaver/index.jsp

I have the same problem ..... and am probably going to have to feed from a BM E-Saver into the Halifax linked current account and then SO into the Reg savers. Bit of a pain ... but best seems to fit the accounts I have as the OH has banned me setting up any more! Seems to think it will need a forensics team to find where all the money is if I shuffle off early. I do point her at all the Word docs / spreadsheets listing the accounts ..... but she can't find them either!

mindovermatter

Hi Mikeyorks
very many thanks for the link - I will apply for the Tesco Internet saver today.
we have the same problem re acccounts that you have - trying to keep a track of rates etc!
We will only keep the Halifax ones open for the 12 months then move again.
Best wishes
Mindovermatter