Savings Account

[Nanor]

I'm learning to drive and my bastard parents won't buy me a car driving lessons, licence, petrol, MOT and insurance so I have to buy it myself.

First of all, my problem with money is that I spend it when I get it. For example, I've just got paid and already bought Spore (Penis monster FTW). I want to put some of this cash away for a rainy day.

Secondly I have no idea about banks. I managed to set myself up a direct debit with Halifax and upon checking the details of the savings account I found the interest was a bit low (3.80% IIRC) or so I was told.

So does anyone have any recommendations for an easy to use bank who can give me good interest. The only stipulation is that it has to be an account for Under 18s!

Thanks.

 

[Pubic_Warrior]

www.smile.co.uk, i work for them, 16 for a savings account, you even get a cash card with it. no the best interest rate at the mo due to the credit crunch, but we are voted best bank for customer service

 

[Ronin Storm]

I have a current account with Smile (for entertainment stuff... Smile = Fun = Entertainment ... ) and that's always been very decent. Not done savings with them, though.

 

[Bradstreet]

What's the age limit on Egg? They have a great savings rate at the minute, and are easy to use / friendly / helpful.

 

[Birdy]

Sorry to hijak ur thread nanor my love but I also need advice. I have a grand comming to me soon and would like to put it in some high intrest acount and wonder what would be best

 

[Pubic_Warrior]

Sorry to hijak ur thread nanor my love but I also need advice. I have a grand comming to me soon and would like to put it in some high intrest acount and wonder what would be best

well depends on wether or not you want instant access or not

 

[Birdy]

nope probly better not. Want it to be long term and have access maybe after a year

 

[Ki!ler-Mk1]

Have you considered ISAs? they have good interest.

 

[[THN]Buffalo_Hunter]

This should give you something to go on:

http://www.thisismoney.co.uk/best-savings-rates

 

[decky101]

Nanor, I just recently did the same thing with my savings. I have saved around 5.5 grand over the years, so I had too much to put it all away as an ISA, so what I did was I got an Internet Access account with Abbey, around 6% Interest, comes with a card etc, only problem is you don't have branch access, but I'm going to assume you have paypal, or you know someone who does, so I'm fairly sure you can just switch accounts over from paypal to your savings account, and then you could give the money to whoever's Paypal you used. hope this helps.

For you Birdy, I'd recommend putting that grand into a long term bond or something (the longer you put the bond away for without access, the higher the interest rate you get)

Cheers, Decky!