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  • FIRST POST
    • MSE Guy
    • By MSE Guy 3rd Jul 09, 8:49 AM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    Top savings account launches today
    • #1
    • 3rd Jul 09, 8:49 AM
    Top savings account launches today 3rd Jul 09 at 8:49 AM
    This is the discussion thread for the following MSE News Story:



Page 1
    • funkymonkey
    • By funkymonkey 3rd Jul 09, 9:35 AM
    • 475 Posts
    • 505 Thanks
    funkymonkey
    • #2
    • 3rd Jul 09, 9:35 AM
    • #2
    • 3rd Jul 09, 9:35 AM
    applied for mine today! really easy, got an email saying they would let me know within 5 days and another email one minute later saying id got it. I bank with A&L so it will be better than using my savings account they give you when you open up a current account as it only pays 0.10 %
    • alanwsg
    • By alanwsg 3rd Jul 09, 9:49 AM
    • 542 Posts
    • 237 Thanks
    alanwsg
    • #3
    • 3rd Jul 09, 9:49 AM
    • #3
    • 3rd Jul 09, 9:49 AM
    Same here.
    FWIW, The last time this happened, once I had the account number I had to phone A&L to get the old account transferred into the new one: you can't do it on-line without going via your current account (I'll be moving from an online-saver 4).
    They were happy to do it straight away.
    • G_M
    • By G_M 3rd Jul 09, 11:53 AM
    • 48,051 Posts
    • 58,834 Thanks
    G_M
    • #4
    • 3rd Jul 09, 11:53 AM
    • #4
    • 3rd Jul 09, 11:53 AM
    MSE guy - can I suggest editing the thread title to include the account name?

    Also it's not really the 'top account'. cf Coventry 50+ (3.25), Lloyds Vantage (4%)
  • LongTermLurker
    • #5
    • 3rd Jul 09, 3:15 PM
    • #5
    • 3rd Jul 09, 3:15 PM
    Is that good? To me, it looks like a bad deal, especially if you have more than 25k to deposit, because you get the same rate regardless of how much you deposit until next August and it only gets better after that.

    I must admit, for me, the rates are so low at the moment that it's not worth moving money about - after all, 0.25% of next-to-nothing isn't going to make much difference. While I happily chased the high rates last year it's not something I'm doing at the moment.
    You've never seen me, but I've been here all along - watching and learning...
  • joegib
    • #6
    • 3rd Jul 09, 3:38 PM
    • #6
    • 3rd Jul 09, 3:38 PM
    Also, the A & L Online Saver 5 account is annual interest only, so unlike their past online saver accounts, there's no option for monthly interest.
    • Biggles
    • By Biggles 3rd Jul 09, 3:50 PM
    • 7,611 Posts
    • 5,016 Thanks
    Biggles
    • #7
    • 3rd Jul 09, 3:50 PM
    • #7
    • 3rd Jul 09, 3:50 PM
    MSE guy - can I suggest editing the thread title to include the account name?
    Originally posted by G_M
    Yes, this seems to be a recurring problem with these posts.

    No mention in the thread title of what account it is.

    In case it's one you don't already know about, you click on the thread, to find there's no mention of the account name in the first post either (which should be the informative one).

    Instead, you have to go to the trouble of clicking on the link to read the title of the article.

    Multiply all this by the number of people who see the thread and you can surely see what a waste of time it is. I've seen this pointed out before, but obviously to no effect.
    • antispam246
    • By antispam246 3rd Jul 09, 4:43 PM
    • 901 Posts
    • 734 Thanks
    antispam246
    • #8
    • 3rd Jul 09, 4:43 PM
    • #8
    • 3rd Jul 09, 4:43 PM
    Issue 6 will be next week. 3.16% I hear.

  • treecity
    • #9
    • 3rd Jul 09, 6:35 PM
    • #9
    • 3rd Jul 09, 6:35 PM
    Is there a logical reason why they don't just up the interest rate on existing accounts rather than bringing out one issue after another?

    I have about 4 A+L accounts, now all are empty except one with 1 in it. I am very slightly fed up with having to open a new account every couple of months to keep up with the new issue accounts from all the banks and building societies...
  • LongTermLurker
    Is there a logical reason why they don't just up the interest rate on existing accounts rather than bringing out one issue after another?

    I have about 4 A+L accounts, now all are empty except one with 1 in it. I am very slightly fed up with having to open a new account every couple of months to keep up with the new issue accounts from all the banks and building societies...
    Originally posted by treecity
    Deja vu or what? Remember Bradford & Bingley? :rolleyes:
    You've never seen me, but I've been here all along - watching and learning...
    • masonic
    • By masonic 3rd Jul 09, 7:29 PM
    • 11,635 Posts
    • 9,275 Thanks
    masonic
    Is there a logical reason why they don't just up the interest rate on existing accounts rather than bringing out one issue after another?
    Originally posted by treecity
    The reason is that they can pay out a higher rate if it is only paid to a fraction of their customers. If they increased the rate for everyone, the increase would be a lot smaller.
    • kingmonkey
    • By kingmonkey 3rd Jul 09, 7:35 PM
    • 830 Posts
    • 252 Thanks
    kingmonkey
    What does top mean in this context?
  • Natti_A
    Thank goodness A&L kept my online banking active, closed my C/A and savings account last month as i got better rates elsewhere.... look who comes running back 30 days later!

    Got the acceptance email pretty much instantly, sounds like there is no backlog at the moment.
    Credit Card 6.9% - 0/2800
    Graduate OD 19.9% - 1000 Paid off Sept 11

    Sealed Pot Challenger #598
    Pay off as much as you can 2012 #69
    • 00ec25
    • By 00ec25 3rd Jul 09, 8:44 PM
    • 8,029 Posts
    • 7,758 Thanks
    00ec25
    What does top mean in this context?
    Originally posted by kingmonkey
    read this
    http://www.moneysavingexpert.com/savings/savings-accounts-best-interest
  • pksaraf
    Issue 6 will be next week. 3.16% I hear.
    Originally posted by antispam246
    you really mean it? what's the source?
    • alanwsg
    • By alanwsg 4th Jul 09, 9:35 AM
    • 542 Posts
    • 237 Thanks
    alanwsg
    All done for me!!! ...
    Applied on-line yesterday,
    Letter with account number arrived today,
    Phoned them up and asked for the transfer,
    Just looked online and the money (with interest) is already in the new account.
    Can't really complain about that!

    BTW, once you get the letter, the number to ring is 0844 800 9000
    Then wade thru the menus until you get to speak to a human.
  • LongTermLurker
    you really mean it? what's the source?
    Originally posted by pksaraf
    No I don't think he does... Perhaps he's being sarcastic about the potential new account with a 0.01% increase?
    You've never seen me, but I've been here all along - watching and learning...
    • Hungerdunger
    • By Hungerdunger 4th Jul 09, 10:56 AM
    • 932 Posts
    • 480 Thanks
    Hungerdunger
    MSE guy - can I suggest editing the thread title to include the account name?
    Originally posted by G_M
    And also, if you are going to say "launches today", put the date in brackets as well, to avoid confusion when people look at the thread title in a week's time.
    "The trouble with quotations on the Internet is that you never know whether they are genuine" - Charles Dickens
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