High interest account - which Bank?

Phate

Phate

Phate

Caporegime
Joined
1 Nov 2003
Posts
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Location
Lisbon, Portugal
Hello all,

I want to open up a high interest account to which the money I want to be able to access at any time (like a normal bank account) but I want the amount in the account to build as much as possible, and should only be adding to it and not subtracting until Augustish next year.

Which bank should I go for? I currently have a plantinum account with Lloyds TSB and have my own account manager who I see on a monthly basis and she helps keep my cash in check.

Which bank do you guys recommend and why? Thanks.
 
ALLIANCE & LEICESTER do a DirectSaver account that pays 6.30% interest.

Like with many instant access savings accounts, no interest is earned on the account balance in a calendar month in which a withdrawal is made.
 
Not halifax, I'm still waiting for my card (first applied for in march :/ ) after many visits the bank and a carp load of phone calls. Just been again today,
"yes sir no problem we'll have one sent right away"
"that's what you said the last 3 times, i came in"

"oh don't worry I've ordered one it will be sent in 7 days"

"that's exactly wh..." "NEXT"

:(
 
Tefal said:
Not halifax, I'm still waiting for my card (first applied for in march :/ ) after many visits the bank and a carp load of phone calls. Just been again today,
"yes sir no problem we'll have one sent right away"
"that's what you said the last 3 times, i came in"

"oh don't worry I've ordered one it will be sent in 7 days"

"that's exactly wh..." "NEXT"

:(
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I went with the Halifax high interest current account and got my card after 2 weeks of the initial sign-up. Also had some good customer service (a lot better than the useless NatWest!).
 
I personally would opt for an ISA so I don't pay any tax either. There are some good ISA rates around just now, 6.25% or more.

Just to point out, giving financial advice without being qualified to do so is a criminal offence, punishable by a fine and/or prison. If a person can prove they lost out because they took advice of someone who is not a qualified advisor, the person who gave the original advice can be liable to reimburse the investor for the amount they lost out on.

Be careful what you say....
 
CF93 said:
Be careful what you say....
Click to expand...

It's not as if I'm asking where to put my money, just what accounts people recommend.

Obviously I'm going to do research to see whats best, but I wouldn't of known about that above link if someone hadn't of posted it!
 
Open 2 Online Saver accounts and divide the money between the two.

That way if you really must make a withdrawal then you'd only lose interest on half the amount you have in savings.
 
Phate said:
It's not as if I'm asking where to put my money, just what accounts people recommend.

Obviously I'm going to do research to see whats best, but I wouldn't of known about that above link if someone hadn't of posted it!
Click to expand...

But asking someone to recommend an account is asking for financial advice.

If you're asking, what's a good bank and what's a bad bank, fair enough, that's not the same thing. If you're asking about a specific account, you're seeking advice.

Lets say you took the advice of someone on the forum that says "put it in this account, it pays 5%" and you later found you could have earned 6% on a different account (regardless of if it's with the same bank or not) - the person that gave you the advice about the 5% account has committed a criminal offence by giving you advice regardless of whether or not you got the best rate, and you would be entitled to have them prosecuted and claim the 1% difference, which that person would have to pay out of their own pocket.

On the other hand if someone said "I had a bad experience with Bank X, I wouldn't use them" or "I had a good experience with Bank Y" that's different.
 
I've had a great expierence with Cheltenham and Gloucester 6 month deposit account though minimum investment is 50k and the interest rate rate of 6.3% only lasts 6 months.
 
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