Although they are very similar, instant access and no notice accounts are sometimes confused with each other. Instant access accounts allow savers immediate access to their cash. No notice accounts allow savers to withdraw their cash without giving advance notice, although in some cases savers may need to wait a short while for funds to be transferred or for cheques to clear. The following accounts do not require any advance notice to access money.
West Bromwich Building Society – Branch Bonus Account 2
This account pays a rate of 3.35pc with a bonus of 0.60pc until 31st October 2010. A monthly interest option is also available at a lower rate of 3.30pc with a bonus of 0.58pc until 31st October 2010. Savers can invest between £100 and £100,000. Up to two withdrawals can be made within a year. A rate of 0.65pc is paid on the third withdrawal until 31st October 2010, then 0.05pc until 1st April when a new year begins when it reverts to the headline rate. Cash must be new money to the building society. The account can be operated in branch only.
Citibank – Flexible Saver Issue 6
This account pays a monthly rate of 3.25pc with a bonus of 2.25pc for 12 months. Interest is paid on the day of the month on which the account was opened. Savers can invest between £1 and £1m. The account can be operated in branch, by telephone and online by savers aged 18 and over. The account is open to new customers only.
Sainsbury's Finance – Online Saver
The rate for this account is determined by the number of withdrawals made. For less than three withdrawals a year, a rate of 3.20pc is paid with a bonus of 2.70pc for 12 months. If more than three withdrawals are made within a year, a rate of 0.50pc is paid and no bonus is received. A monthly interest option is also available at a lower rate of 3.15pc with a bonus of 2.65pc for 12 months. The investment amounts are also determined by the number of withdrawals made. Savers can invest between £1,000 and £500,000 if they believe that less than three withdrawals will be made. If more than this they can invest from £1 up to £2m. The account can be operated online only by savers aged 18 and over.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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