What savings account?

"Marcus Fox" wrote in message news:ebO2d.4$ snipped-for-privacy@newsfe1-gui.ntli.net...

Just remember you have to jump through hoops to open a new account at a new bank. Eric

Because of the anti-money laundering rules? They're tedious, but seem simple enough - just send off a phone bill, and a bank statement or signed copy of a passport or whatever. If it's not a current account which requires salary details etc then it's not so bad.

I understand that ING Direct and Cahoot are both supposed to be ok, although you've missed the 5.65% rate that Cahoot was offering a short while ago.

Jumping through hoops? You fill in an application and provide ID, that's no more than buying a sofa on credit!

for the OP, there are comparison tables on

If you are opening a new account where you are not verified by that bank as an existing customer they are SUPPOSED to confirm your ID and address as per current money laundering rules. It does not matter what type of account you open(in theory) Eric

It's a lot more difficult than buying a sofa on credit. Often paying for the deposit by credit card is enough to get the HP loan.

If you're a tax-payer, it may be worthwhile looking at cash ISAs, where you can invest 3 grand per year tax free in a savings account. There are lots of comparison web sites for these and normal savings accounts.

cd