Savings accounts - Post Office Savings
Discussion
Have a large (for me) sum of cash that I want to put in savings for approx 6 months.
I have maxed out my Marcus account at 4.3% so looking at the comparison websites Post Office Savings came up with a similar rate when adding the 12 month bonus. Its run by Bank of Ireland UK.
I just want a simple online account that I can put up to £500k in, linked to/from my current account. I don't mind having to give 30 days notice but this isn't necessary for the PO savings account.
anyway the online reviews seem terrible
https://smartmoneypeople.com/post-office-reviews/p...
anyone here use them? I have tried a sample £10k transfer, I will try a £2k withdrawal to test it before moving a large sum
I have maxed out my Marcus account at 4.3% so looking at the comparison websites Post Office Savings came up with a similar rate when adding the 12 month bonus. Its run by Bank of Ireland UK.
I just want a simple online account that I can put up to £500k in, linked to/from my current account. I don't mind having to give 30 days notice but this isn't necessary for the PO savings account.
anyway the online reviews seem terrible
https://smartmoneypeople.com/post-office-reviews/p...
anyone here use them? I have tried a sample £10k transfer, I will try a £2k withdrawal to test it before moving a large sum
Edited by Adam. on Tuesday 1st April 18:48
No experience myself. But surely the reviews are enough to put you off?
I use Hargreaves Lansdown and they have Active Savings or cash ISA accounts which act as a hub for your money. You can split it across as many different providers as you need to keep FSCS protection. You set up the HL account and then transfers into the savings accounts are done at the touch of a button.
Currently offering 4.33% easy access or 4.5% for a 6 month fix.
I use Hargreaves Lansdown and they have Active Savings or cash ISA accounts which act as a hub for your money. You can split it across as many different providers as you need to keep FSCS protection. You set up the HL account and then transfers into the savings accounts are done at the touch of a button.
Currently offering 4.33% easy access or 4.5% for a 6 month fix.
If the money is from inheritance or house sale then temporary balances are protected up to £1m for 6 months at any regulated financial entity.
There is currently a proposal to increase the £85k to £110k from December too.
I’ve had various Irish bank accounts - usually held as Fixed rate bonds as has my mother for whom I act as LPA and no issues whatsoever although have not exceeded the £85k.
NSI is probably notwithstanding the above the only place where you could currently put the whole £500k safely but you won’t get the highest rate.
There is currently a proposal to increase the £85k to £110k from December too.
I’ve had various Irish bank accounts - usually held as Fixed rate bonds as has my mother for whom I act as LPA and no issues whatsoever although have not exceeded the £85k.
NSI is probably notwithstanding the above the only place where you could currently put the whole £500k safely but you won’t get the highest rate.
Cabbage Patch said:
I use Hargreaves Lansdown and they have Active Savings or cash ISA accounts which act as a hub for your money. You can split it across as many different providers as you need to keep FSCS protection. You set up the HL account and then transfers into the savings accounts are done at the touch of a button.
Currently offering 4.33% easy access or 4.5% for a 6 month fix.
Will look into this HL offering, thanks - do HL charge a monthly / annual fee?Currently offering 4.33% easy access or 4.5% for a 6 month fix.
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