Best savings account?

DJMK4 · 24 Aug 2023 at 20:42

sgavan said:
If you have the max invested and win, they email you a day or two after the draw and any winning over the max get transferred to you bank account

Ok great that's what I read online too, didn't know if there was anything else to it. Cheers

Troop · 31 Aug 2023 at 09:06

NS&I 6.2% .....1 year fixed

nam · 31 Aug 2023 at 09:12

Troop said:
NS&I 6.2% .....1 year fixed

signed up to cahoot, but clicked monthly intrest rather than annually by mistake . Still have not recieved the account login details . May just not use it now and look at this

DJMK4 · 31 Aug 2023 at 09:58

OK i am in a state now where i need to open a new savings account best earner for higher rate tax payer,

ISA posssibly atm, but not sure, if its reccomended way to go, i want best returns monthly if possible, aim is to start building up funds in the new account. and /or move some money from existing premium bonds over, trying to avoid doing that though

Raymond Lin · 31 Aug 2023 at 10:04

DJMK4 said:
OK i am in a state now where i need to open a new savings account best earner for higher rate tax payer,

ISA posssibly atm, but not sure, if its reccomended way to go, i want best returns monthly if possible, aim is to start building up funds in the new account. and /or move some money from existing premium bonds over, trying to avoid doing that though

Cash or Stocks and Shares?

For cash, your own bank will offer one.

For Stocks and Shares, I have a Vanguard ISA, you can even pick your own stocks per deposit. The latter is very volatile though, although to be fair, i opened mine 11months ago and as of today, it is 8% up, but it can also drop it 0% next week.

Skilid · 31 Aug 2023 at 10:14

I use Ford Money for both my savings and my Cash ISA. Good rates, interest is paid monthly (which I prefer) and they're quick to respond to market changes.

Mercenary Keyboard Warrior · 31 Aug 2023 at 10:22

DJMK4 said:
OK i am in a state now where i need to open a new savings account best earner for higher rate tax payer,

ISA posssibly atm, but not sure, if its reccomended way to go, i want best returns monthly if possible, aim is to start building up funds in the new account. and /or move some money from existing premium bonds over, trying to avoid doing that though

Savings or investment ISA?

I agree vanguard is good for S&S although is semi limited on options
Plenty of decent fixed rate cash ISAs about or shawbrook have a decent variable one

Relentless81 · 31 Aug 2023 at 10:24

With variable ISA do they lock at the rate you open them at or do they go up/down with the rate?

I need to open one soon due to getting near to PSA limit

Skilid · 31 Aug 2023 at 10:28

Relentless81 said:
With variable ISA do they lock at the rate you open them at or do they go up/down with the rate?

I need to open one soon due to getting near to PSA limit

Clue is in the name

It's variable. The rate can go up and down.

Relentless81 · 31 Aug 2023 at 10:37

Skilid said:
Clue is in the name It's variable. The rate can go up and down.

I swear I'm getting thicker by the day

DJMK4 · 31 Aug 2023 at 10:52

OK thanks all , i will take a look

nam · 31 Aug 2023 at 11:01

Mercenary Keyboard Warrior said:
Savings or investment ISA?

I agree vanguard is good for S&S although is semi limited on options
Plenty of decent fixed rate cash ISAs about or shawbrook have a decent variable one

Vanguard direct for there funds is cheaper than through H&L, have a S&S isa with Vanguard all in a single FTSE Developed World ex-U.K. Equity Index Fund - Accumulation, just keep topping up every month and below the ISA Limit

Mercenary Keyboard Warrior · 31 Aug 2023 at 11:08

nam said:
Vanguard direct for there funds is cheaper than through H&L, have a S&S isa with Vanguard all in a single FTSE Developed World ex-U.K. Equity Index Fund - Accumulation, just keep topping up every month and below the ISA Limit

Yes Vanguard fund costs are low.
But they are limited in scope thats the only drawback.
I use Vanguard myself for my S&S ISA.

Disco_P · 31 Aug 2023 at 17:40

FWIW, tandem pays interest on the day you first deposited money into the account

dlockers · 2 Sep 2023 at 08:30

Do we have a current account thread?

I'm looking to leave COOP for either NatWest (but I have an RBS account so I won't get my 200 quid bonus) or Halifax.

COOP is just a bit too benign for my needs - I get about a quid a month in rewards which I then need to declare as income.

So an account that does cashback for direct debits or has retail cash back offers is what I am looking for.

Best thoughts?

Edit: I already have an RBS account so I'll just upgrade that to premier and get the 9 quid perk manually.

dlockers · 2 Sep 2023 at 08:32

nam said:
Vanguard direct for there funds is cheaper than through H&L, have a S&S isa with Vanguard all in a single FTSE Developed World ex-U.K. Equity Index Fund - Accumulation, just keep topping up every month and below the ISA Limit

Fidelity was cheaper for some vanguard funds than vanguard itself. Especially for junior ISA!

NotAGolf · 2 Sep 2023 at 09:37

dlockers said:
Do we have a current account thread?

I'm looking to leave COOP for either NatWest (but I have an RBS account so I won't get my 200 quid bonus) or Halifax.

COOP is just a bit too benign for my needs - I get about a quid a month in rewards which I then need to declare as income.

So an account that does cashback for direct debits or has retail cash back offers is what I am looking for.

Best thoughts?

Edit: I already have an RBS account so I'll just upgrade that to premier and get the 9 quid perk manually.

I've had a Santander 123 account for years that does cashback on a number of bills. They've introduced a monthly fee now so it's not as lucrative as it was, but I still get a few quid a month from it even though my bills are pretty small.

I think they have a slightly different offering with an Edge product now which might be slightly more generic cashback (i.e not just certain bills).

Chase offer 1% cashback on most purchases too. Not sure if that applies to bills too - I stopped using them when they fell behind with their interest rates.

uscool · 2 Sep 2023 at 09:47

dlockers said:
Do we have a current account thread?

I'm looking to leave COOP for either NatWest (but I have an RBS account so I won't get my 200 quid bonus) or Halifax.

COOP is just a bit too benign for my needs - I get about a quid a month in rewards which I then need to declare as income.

So an account that does cashback for direct debits or has retail cash back offers is what I am looking for.

Best thoughts?

Edit: I already have an RBS account so I'll just upgrade that to premier and get the 9 quid perk manually.

Chase does 1% cashback on everyday debit card spending home and abroad 12 months upon joining

Maccy · 2 Sep 2023 at 09:48

dlockers said:
Do we have a current account thread?

I'm looking to leave COOP for either NatWest (but I have an RBS account so I won't get my 200 quid bonus) or Halifax.

COOP is just a bit too benign for my needs - I get about a quid a month in rewards which I then need to declare as income.

So an account that does cashback for direct debits or has retail cash back offers is what I am looking for.

Best thoughts?

Edit: I already have an RBS account so I'll just upgrade that to premier and get the 9 quid perk manually.

Check the switch offer conditions, I have Natwest as my main current account but recently did the switch to RBS for the £200 offer, as I hadn’t previously had a switch to the banking group previously.

dlockers · 2 Sep 2023 at 10:15

NotAGolf said:
I've had a Santander 123 account for years that does cashback on a number of bills. They've introduced a monthly fee now so it's not as lucrative as it was, but I still get a few quid a month from it even though my bills are pretty small.

I think they have a slightly different offering with an Edge product now which might be slightly more generic cashback (i.e not just certain bills).

Chase offer 1% cashback on most purchases too. Not sure if that applies to bills too - I stopped using them when they fell behind with their interest rates.

I'll check that out again..the premier rbs account offers 9 quid for 2 direct debits which I'm assuming is better but I'll do the maths.

I have chase and whilst it was good, I get more cashback on amex so it rarely competes with pure perks.

Maccy said:
Check the switch offer conditions, I have Natwest as my main current account but recently did the switch to RBS for the £200 offer, as I hadn’t previously had a switch to the banking group previously.

Interesting - it's not likely I'll get it as I got 200 for switching to RBS already. Maybe worth a punt!

I also increased my Monzo pay in 3 to 3k which is really useful.