Business Savings Account?

[kirsty]

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Originally posted by ianm
Might be wrong (haven't got all the details to hand) but I don't think that applies to the internet accounts - there was definately something it didn't apply to.

the way i understand it is that the interest rates are tiered so once you have more than £x in an account you get a higher rate of interest. if you open several accounts of the same type then the the balances of them all count together towards getting a higher interest rate on all the accounts. it's this kind of pooling that doesn't apply to the internet ones.

apart from that the regular accounts can be operated on the net in exactly the same way as the internet only ones. when i did my sums a pool of regular accounts worked out better (both interest wise and in a knowing that money is there to pay the bills way) than one internet one for us.

we've had no problems at all with SLB, best service i've ever had from any bank, (and i can see a long line of crappy banks kicked to the kerb in my rear view mirror )

kirsty

[monkeyman]

Here's the different accounts :-


Premium 10 Day Notice Account - by transacting online and giving us 10 clear days' notice you can earn up to 3.50% gross pa/AER.

Premium Direct Access Savings Account - rates up to 3.35% gross pa/AER and direct access to your savings if you choose to transact online with our premium account.

Fixed Rate Bonds - limited offer savings bonds with guaranteed fixed rates up to 4.65% gross pa/AER for a fixed term deposit.
60 Day Notice Account - with rates up to 3.35% gross pa/AER for 60 clear days’ notice of withdrawal.

10 Day Notice Account - rates up to 3.10% gross pa/AER. You just have to give us 10 clear days' notice to withdraw funds without penalty.

Direct Access Savings Account - earn up to 2.95% gross pa/AER on an account that allows you to access your money at any time without losing interest.


Which one have you gone for?

App. the premium accounts don't do tiered.

[Matthew Wood]

Just opened one of these accounts tonight - went for the Premium (internet) account with 10 days notice.

To clarify, the account links in with your business current account, interest is set at 3.20% gross for balances under £200,000, anything over that receives 3.5% gross.

Seemed very easy to open, just needs ltd company details, and you can transfer all monies online.

considering i'm getting 1.25% gross at Lloyds, this seems a far better option to stack away your corporation tax or VAT cash.

http://www.standardlifebank.com/page.php?id_link=598

Matt.