The Lemon Fool

HL appear to be offering a £25 bonus to open one of their Active Savings Accounts
https://www.hl.co.uk/investment-services/active-savings

Claim your £25 savings bonus: All you need to do is open an account by 6 December, then add £5,000 or more with a debit card and choose your savings products within 60 days. We’ll then pay you a £25 cash bonus. If your savings balance drops below £5,000 within the first six months your account is open we reserve the right to reclaim the £25. Terms apply

I have no connection with HL other than as a customer.
Always check the direct rates with the individual providers as well!

I have opened 5 of these so far, for different family members. Best return on 6 month money at present. Charter Savings Bank 1.57% plus the equivalent of 1% (£25 on £5,000 for 6 months) for the bonus.

hiriskpaul wrote:I have opened 5 of these so far, for different family members. Best return on 6 month money at present. Charter Savings Bank 1.57% plus the equivalent of 1% (£25 on £5,000 for 6 months) for the bonus.

That's interesting, CSB themselves aren't offering any 6 month accounts. https://www.chartersavingsbank.co.uk/AtAGlance

Do you get a CSB login as well if you get one of their a/cs via HL? Or if you already have a CSB login do you get to see the via-HL a/c too, or is it only visible in the HL system?

mc2fool wrote:

hiriskpaul wrote:I have opened 5 of these so far, for different family members. Best return on 6 month money at present. Charter Savings Bank 1.57% plus the equivalent of 1% (£25 on £5,000 for 6 months) for the bonus.

That's interesting, CSB themselves aren't offering any 6 month accounts. https://www.chartersavingsbank.co.uk/AtAGlance

Do you get a CSB login as well if you get one of their a/cs via HL? Or if you already have a CSB login do you get to see the via-HL a/c too, or is it only visible in the HL system?

All done through the HL system. I have been watching HL's savings product for a while. Rates are not usually the best, it is just the £25 bonus that makes it worthwhile. I am hoping that HL might offer their savings product to SIPP accounts, but have not done so yet.

hiriskpaul wrote:All done through the HL system. I have been watching HL's savings product for a while. Rates are not usually the best, it is just the £25 bonus that makes it worthwhile. I am hoping that HL might offer their savings product to SIPP accounts, but have not done so yet.

Ok, thanks. Was esp. curious about the CSB six month a/c, as I've had various accounts with CSB for a while but hadn't seen that one and, indeed, they're not offering it directly, so it looks like HL manage to (at least in this case) offer accounts that aren't otherwise available....

I opened one of these accounts 10 days ago, then a week later I received the notice of £25 bonus! They were obviously waiting for me to apply. That's £25 they've saved. I went for the instant access, 1.2%, if I remember correctly, with Coventry BS. That's 4 times what Nationwide is offering.
dp

scottnsilky wrote:I went for the instant access, 1.2%, if I remember correctly, with Coventry BS. That's 4 times what Nationwide is offering.

Maybe so, but you can get 1.45% with Marcus (Goldman Sachs), or with Virgin Money (with limited access), and there's quite a number of banks/building societies offering 1.3-1.4%; Saga, the Co-Op, Kent Reliance that I know of, probably others.

As HRP says, the rates via HL don't generally seem to be the best, although there is the occasional anomalous good'un ...

This is a great concept. The rates on the longer term fixes seem to be about 0.1% below the best buys. On £200K that equates to £200 p.a. I typically open two or three accounts per year. £67 per account is a bit stiff. If they had transaction based charges rather than percentage charges, it might be a different matter. Nonetheless, if it becomes easier to move money, the premium for doing it will shrink.

mc2fool wrote:

scottnsilky wrote:I went for the instant access, 1.2%, if I remember correctly, with Coventry BS. That's 4 times what Nationwide is offering.

Maybe so, but you can get 1.45% with Marcus (Goldman Sachs), or with Virgin Money (with limited access), and there's quite a number of banks/building societies offering 1.3-1.4%; Saga, the Co-Op, Kent Reliance that I know of, probably others.

As HRP says, the rates via HL don't generally seem to be the best, although there is the occasional anomalous good'un ...

1.5% in Santander 123 - up to £20,000.

Why the hell cant you get even 1% in the HL S&S ISA? It’s a disgrace that they earn interest and pay nothing to their punters.

Typical HL...

toofast2live wrote:1.5% in Santander 123 - up to £20,000.

Yes, but there's a £5 per month account fee, which takes it down to 1.2%, and you do have to pay in at least £500 a month and have 2 direct debits out of it. There is, however, some cashback on household bills (electricity, water, etc), which may ameliorate the account fee.

toofast2live wrote:Why the hell cant you get even 1% in the HL S&S ISA? It’s a disgrace that they earn interest and pay nothing to their punters.

Typical HL...

Typical for S&S ISAs methinks. Are there any S&S ISAs where one gets interest on cash in the account?

mc2fool wrote:[

toofast2live wrote:Why the hell cant you get even 1% in the HL S&S ISA? It’s a disgrace that they earn interest and pay nothing to their punters.

Typical HL...

Typical for S&S ISAs methinks. Are there any S&S ISAs where one gets interest on cash in the account?

You do get interest on the cash in an H-L S&S ISA. At least I do - not much (less than 1% I think), a couple of pence a month (but I don't have much cash on the account), but I do get some.

I never got any interest on my account, I had quite a substantial sum in cash for a few months, no interest at all. I made sure it was all invested before the election, though, and I did very well.
dp

Gersemi wrote:

mc2fool wrote: Typical for S&S ISAs methinks. Are there any S&S ISAs where one gets interest on cash in the account?

You do get interest on the cash in an H-L S&S ISA. At least I do - not much (less than 1% I think), a couple of pence a month (but I don't have much cash on the account), but I do get some.

Yes, much less than 1%. Tiered between 0.10% and 0.15% for Cash held in an HL ISA, Junior ISA, Lifetime ISA or Fund and Share Account:

https://www.hl.co.uk/charges-and-interest-rates

yorkshirelad1 wrote:HL appear to be offering a £25 bonus to open one of their Active Savings Accounts
https://www.hl.co.uk/investment-services/active-savings

Claim your £25 savings bonus: All you need to do is open an account by 6 December, then add £5,000 or more with a debit card and choose your savings products within 60 days. We’ll then pay you a £25 cash bonus. If your savings balance drops below £5,000 within the first six months your account is open we reserve the right to reclaim the £25. Terms apply

I have no connection with HL other than as a customer.
Always check the direct rates with the individual providers as well!

Opened mine successfully and got the £25 bonus. Two advantages for me are:

• annual consolidated tax voucher from HL, so that if I move accounts within the tax year (e.g. 3 times with 3 different banks on their panel), I just have one tax voucher, not 3
• being able to move banks (withiin those on their panel) and not having send of id documents each time, no need for another set of forms, copy passport, wet ink signature, proving inside leg measurement etc etc. That is worth something in time and hassle saving.

yorkshirelad1 wrote:wet ink signature

It's been a very long time since I've needed to provide a signature to open an account.

Scott.

swill453 wrote:

yorkshirelad1 wrote:wet ink signature

It's been a very long time since I've needed to provide a signature to open an account.

Scott.

I had to do a wet ink signature for account opening for HL (Hargreaves Lansdown) when I moved my ISA from Barclays to HL (Aug 2017).