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Product focus: No notice accounts

Product focus: No notice accounts

Category: Savings

Updated: 16/03/2010
First Published: 16/03/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

No notice accounts are handy for savers who feel they may require access to funds at short notice.

These accounts often only require small deposits, however, it is worth remembering that some have restrictions as to how many withdrawals can be made a year.

Here are the current top three online no notice accounts.

West Bromwich Building Society – Direct Bonus Account 1

This account pays a rate of 3.00% including a bonus of 1.00% until 31st January 2011. Savers can invest between £1,000 and £100,000. Must be new money to the institution. No notice is required to access funds, however, only three withdrawals are allowed each year by BACS. A rate of 0.5% will be paid (1.05% during the bonus period) on the fourth withdrawal until May each year when a new year begins. The account is open to savers of all ages and can be operated by post and telephone as well as online.

Bank of Scotland – Halifax Web Saver Extra

The Web Saver Extra account pays a rate of 2.80% on its anniversary. A minimum deposit of £1 is required, although there is no maximum amount. One penalty free withdrawal is allowed each year, after which all further withdrawals will be subject to 30 days' loss of interest. The account can be operated online only by savers aged 7 and over, although must be opened in trust if for a child.

AA – AA Internet Extra Issue 3

This account pays a rate of 2.80% including a bonus of 2.30% for twelve months. Savers can invest between £1 and £1 million. No notice is required to access funds and all withdrawals must be made by BACS to a nominated account. The account can be operated online only by savers age 18 and over.

Find the best savings accounts for you - Compare instant access savings accounts

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 Any products featured may be withdrawn by their provider or changed at any time.

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