ali-s Posted January 12, 2012 Share Posted January 12, 2012 Can anyone recommend one? It would be used for saving small amounts of money for Christmas or little treats for myself and the family. I've looked into a basic Post Office savings account but the initial amount for opening the account is £500 I remember having a Post Office savings account as a child and it was opened with £1.00. The Post Office would have been the best option as there is one in the village which I pass most days to and from work during the day. My current account bank has a savings account which is online transactions only, it can be opened with £1.00 The downside to this is that we have a very dodgy internet connection which is often broken for up to a week or will stop working for a few minutes at a time several times an hour, very frustrating There are plenty of Banks in town but I don't work near the town or get into town very often during the day and I often work Saturdays. Any ideas thank you. Quote Link to comment Share on other sites More sharing options...
Miss Millies Chicken Posted January 12, 2012 Share Posted January 12, 2012 Have you thought about a telephone based savings account Quote Link to comment Share on other sites More sharing options...
soapdragon Posted January 12, 2012 Share Posted January 12, 2012 I have just opened a Post Office ISA (tho I don't pay tax anyway ) but its a good rate of interest and very simple to use (has to be for me ) I just have a card that I take into the Post Office to pay in either cash or cheque and then have to telephone to withdraw and get the money paid into my nominated bank account a few days later. Otherwise there are several good comparison websites; have today been researching children's accounts and managed to get 2.10 with Nationwide as the lads are currently getting 1.31 elsewhere . It did take me about three quaters of an hour tho but was worth it....good luck! Quote Link to comment Share on other sites More sharing options...
Geoid Posted January 12, 2012 Share Posted January 12, 2012 The post office cash ISA can be opened with £100. more info here Quote Link to comment Share on other sites More sharing options...
ubereglu Posted January 13, 2012 Share Posted January 13, 2012 I have a reasonably good account with Halifax. It's a cashcard account and pays 2% interest and is instant access and you can manage it in branch via your card or via paying in slips at the counter and you can also get access to it online. Quote Link to comment Share on other sites More sharing options...
HarrisonFamily Posted January 13, 2012 Share Posted January 13, 2012 When I was with the co-op you used to be able to deposit and withdraw money from the post office not sure if you still can..... Quote Link to comment Share on other sites More sharing options...
Leicester_H Posted January 14, 2012 Share Posted January 14, 2012 I have a Santander Instant Access eSaver - can open with £1 (http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1237848019094&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateW2) I simply transfer money to and from my First Direct Current Account on line - never had a problem. Currently 3.1% H Quote Link to comment Share on other sites More sharing options...
ali-s Posted January 14, 2012 Author Share Posted January 14, 2012 I have a Santander Instant Access eSaver - can open with £1 (http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1237848019094&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateW2) I simply transfer money to and from my First Direct Current Account on line - never had a problem. Currently 3.1% H I bank already with Santander and I looked at savings accounts with them. The saving account is only on line only which is no good for me. Internet connection broke yesterday evening and has only just started working, it is soooo slow at the moment which from experience I know it is going to break again. I do not want to rely on internet banking, I would really like a savings book at a bank not too far away I think I wil put any savings in a sock under the bed and be really strict with myself so I do not dip into it Realistically I am going to have to have an account at a bank in town and make special trips if I want to deposit or withdraw money or a cash ISA at the Post office, which I know nothing about so I will have to find out more about them. Quote Link to comment Share on other sites More sharing options...
Ain't Nobody Here Posted January 14, 2012 Share Posted January 14, 2012 Would telephone banking solve the problem for you? I used to do all my banking that way before internet banking came along! Quote Link to comment Share on other sites More sharing options...
Mercedes55 Posted January 15, 2012 Share Posted January 15, 2012 I have a Santander Instant Access eSaver - can open with £1 (http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&c=Page&canal=CABBEYCOM&cid=1237848019094&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateW2) I simply transfer money to and from my First Direct Current Account on line - never had a problem. Currently 3.1% H I have my savings in one of those accounts. Only downside is that the bonus interest is only for a year, so after the 1st year the interest goes down to 0.5% which is hardly worth having Quote Link to comment Share on other sites More sharing options...
Geoid Posted January 15, 2012 Share Posted January 15, 2012 For savings, it worth getting an ISA, as the interest is much higher than a normal savings account. Quote Link to comment Share on other sites More sharing options...
Leicester_H Posted January 15, 2012 Share Posted January 15, 2012 I have my savings in one of those accounts. Only downside is that the bonus interest is only for a year, so after the 1st year the interest goes down to 0.5% which is hardly worth having They bring out new issues more frequently than yearly (currently issue 4 (I think)) - I look on-line every few months to check and simply open a new one and transfer the money - then its always in the 1st year bonus period!! Has worked for the last few years. H Quote Link to comment Share on other sites More sharing options...
Mercedes55 Posted January 15, 2012 Share Posted January 15, 2012 I have my savings in one of those accounts. Only downside is that the bonus interest is only for a year, so after the 1st year the interest goes down to 0.5% which is hardly worth having They bring out new issues more frequently than yearly (currently issue 4 (I think)) - I look on-line every few months to check and simply open a new one and transfer the money - then its always in the 1st year bonus period!! Has worked for the last few years. H See I didn't know that, I had a letter from them last month reminding me that my current bonus was due to run out in February and have been looking around for somewhere else to put my savings. Thanks for that Quote Link to comment Share on other sites More sharing options...
Leicester_H Posted January 15, 2012 Share Posted January 15, 2012 See I didn't know that, I had a letter from them last month reminding me that my current bonus was due to run out in February and have been looking around for somewhere else to put my savings. Thanks for that Yes - you have to keep an eye on things - they want you just to leave your money there ! To be fair, Santander are very good. They do tell you when the interest rate falls. They also make it easy to open a new account. I then do a test transfer to AND from my First Direct Account (just a few pounds each way) to check its all set up OK. Then I transfer the money from the old Santander account to the new one. I can't recall if I have to phone them to get the closing interest transferred or if I can do it all online. It is easy though. Santander seem to have the 'best' online instant access accounts at present (I wouldn't use a 'dodgy' bank even if the rates were higher) Quote Link to comment Share on other sites More sharing options...
