does anyone know if there is such an account that i can save money to?i want an account that i can put money into for my holidays so that i can't spend it??but i want to close the account once i have finished saving? i lie in the uk aswell:-) thanks x
2007-01-18 21:53:25 · 5 answers · asked by xloux 3 in Business & Finance ➔ Personal Finance
Go to www.moneysavingexpert.co.uk
The guy that owns it has written some really good articles on savings accounts and which is best.
2007-01-18 22:31:10 · answer #1 · answered by Hmmmm 2 · 0⤊ 0⤋
Hi I have always had an Egg account for this sort of thing. I set it up online, 6 months of year i put £50 a month or so in so i can save my holidays. Withdraw it when i want to book my holiday this is easy to do from there web site and will be in your current account about 3 days later. The interest rates very good too. I then just leave the account open until next year, or set up a nominal direct debit maybe £10 a month so i have bit of something if i need it in an emergency. Hope this helps.
www.egg.com
2007-01-19 06:12:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
go to a site called moneysupermarket.com. You can check out rates on almost every savings account on the market. You should look for an instant access savings account that has no withdrawal penalties so you can get your money out just prior to the holiday without any problems. Rates of 5% plus are good. Also you don't need to close it when you are finished - just leave £1 in it and you can start saving again for next year or Xmas when you get back!
You could also use an instant access mini cash ISA (you won't pay any tax on your interest), but you are only allowed to put £3000 in a year in, and it only pays interest once a year, so it is better for money you want to lock away for a long time (ie saving up a house deposit).
2007-01-19 06:03:31 · answer #3 · answered by Jae 2 · 0⤊ 0⤋
Best thing is to go into some of the local banks and building societies and ask what products they have available. There are so many different types of accounts now somebody is bound to do one that suits your purposes.
2007-01-19 06:17:54 · answer #4 · answered by gerrifriend 6 · 0⤊ 0⤋
Nationwide Flex Account is as good as any. You will be offered, but don't need to use, a bank card and/or a cheque book.
It's up to you to exercise your willpower and resist any temptation to use them..
2007-01-19 05:59:31 · answer #5 · answered by Pit Bull 5 · 0⤊ 0⤋