Best Easy Access

[smurfchops]

There are so many accounts on the market at the moment, which is the best for interest, after tax, for putting an amount of money in at the moment? With an internet account do you have to transfer the money from the Bank? I just want a one-off payment, not putting in monthly. I realise an Internet accounts gets a higher return, would you recommend HighSt or Internet? I am 58 by the way so not quite pensioner ..

[dzug]

Internet. You nobbut a youngster.

With most internet accounts you have a choice of ways of paying in. With Ing Direct for example (still good but not the market leader for interest they once were) you can:

Send a cheque through the post
Login to your account and arrange for the money to be 'pulled' from your normal bank account.
Login to your normal bank account (if you have internet banking) and 'push' the money to your Ing account
Call Ing and arrange things over the phone

You could also pay in over the counter at any bank, but the bank would charge you a fee to do this.

ICICI pay more than Ing and AFAIK operate similarly. They had teething problems when they first started but things seem to have settled down.

I'd put �3K in a mini cash ISA for starters though - National Savings have a good one. You should get around 5% tax free as opposed to 5% less tax in a normal high interest account.

[smurfchops]

Thanks, dzug -- what do you think of Icesave?

[dzug]

Hadn't heard of them but they look very similar to Ing and ICICI

This article http://business.timesonline.co.uk/article/0,,9 554-2403995,00.html

recommends caution - not from the fraud point of view but the competence one. Will they have teething problems to sort out - probably. Will they run off with your money - very unlikely.

[chitchat]

Nationwide do a good one too. E savings which is linked to your flexaccount. You can transfer funds in and out of the account via your computer and use the branch for withdrawals etc from your flexaccount. Its easy - I love it!

[dancecaller]

Nationwide is only any good if you pay �1000 a month (I think) into a current account with them.

I nearly closed my ING account when i wanted to draw out my money but they would withdraw money (into my linked account) over the phone but wanted me to write in to close it.
Anyway I'm glad I didn't close it as it is useful when people send me fiddly little cheques, they have a freepost address so I can pay them in straight away.

My main account is Halifax Websaver. Not quite such good interest as some but I don't lose 3 days interest every time I transfer money as I have a Halifax Current acc (good interest on that if you pay in �1000/ month)