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Product focus: Online notice accounts

 Product focus: Online notice accounts

Category: Savings

Updated: 29/06/2010
First Published: 29/06/2010

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 It is now over 6 months old so the content may be out of date.

Savers who prefer the convenience of conducting their finances online, but do not require short-term access to funds may be suited to notice accounts.

It is important, however, to bear in mind the required notice period to avoid incurring penalties such as loss of interest, should you need to withdraw cash early.

Here is a selection of the current best online accounts which require advance notice.

Market Harborough Building Society – onthedot 30 Day Notice

This account pays an annual rate of 2.55%. A monthly interest option is available at 2.40%. Savers can invest between £1 and £150,000 and the initial deposit must be made by personal cheque. Advance notice of 30 days must be given to access funds. Early access is allowed, subject to 30 days loss of interest. The account can be operated online only by savers aged 16 and over.

Melton Mowbray Building Society – Online 30 Day Notice

This account pays a monthly rate of 2.55%. Investments range between £1,000 and £250,000. Savers must give 30 days notice to access funds. Early access is allowed, subject to 30 days loss of interest. Withdrawals amounts are also limited to £10,000 a day. Transfers must be made to a nominated account. The account is available to savers aged 16 and over and can be operated online only.

Aldermore – 45 Day Notice

This account from Aldermore pays 2.54% on its anniversary. A monthly interest option is available at 2.51%. The AER is guaranteed to be at least 0.50% above Bank Base Rate until 1 June 2011. Savers can invest between £1,000 and £1 million. Early access is not allowed, although all withdrawals must be made via a nominated account. The account is available to savers aged 18 and over and can be operated by post, telephone and online.

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 Any products featured may be withdrawn by their provider or changed at any time.

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