Bank Help

[Bahumat]

GF wants to save some money for a uni course, she has a bank account but wants a second so that she can put money aside each month.

whats the best bank to do this with (Mey works in a bank dont ya? gimme some help pleaseeeeeeee).

I know of ISA's and stuff but dont you have to put a fixed amount in and it has to be left well alone for a couple years etc etc.

it needs to be a bank that is accessable so no "join this dutch bank its gr8", also it needs to have no limit to how much/little you put in per month, good rate of interest and no silly rules like "the money has to be kept here till your 80"

GO GO my pretties, help bahu har har!

 

[Lamp]

Woolwich is pretty good. They got this account when you can open up an number of sub-accounts under it and allocate it to whatever you want eg "New Car" or "Holiday" or "Christmas" etc

Best check with them see if the product is still running. If not, maybe check with Abbey, Nationwide, Alliance & Liecester. Maybe some internet banks. I'd stay clear of Natwest tho. They are totally shit.

 

[Svartmetall]

I've been with Barclays for like, ever, and they've been fine.

 

[Overdriven]

I should be doing this... But I'd have these accounts:

Saving Account: Uni
General: Beer/Food/Living.

 

[Vae]

If she wants to just save some money for a while and has no isa at the moment then just find a cash isa. The advantage is no tax will be deducted so a 4% interest rate will actually be 4% not 3.2% after basic rate tax.

Moneysupermarket.com will show you those with the best current rates but bear in mind most of these will be introductory offers. Or go with the cash isa from your current bank. Most isa's should be instant access either through online banking or telephone.

I bank with HSBC and have a cash isa with them (for convenience not because it's a great rate but I want access to it easily and fast) and a flexible savings account. I can transfer money between them both and my current account using online banking instantly.

The only thing to bear in mind with an isa is that you can only pay up to 3000 into it in one year so even if you take the money out you can't put it back in.