Automatic savings plan with bank a thing?

[N.Wood]

I'm on a 7% return with a couple of Fidelity Equity based ISAs. One is up 10% and one is down a couple.

[Simpson]

I just opened a bank account with a different bank (Santandeer 123 3% account). When I get paid I transfer the money I want to save into that account.

I keep all details of the bank in my draw and never check them - dont even know my PIN etc.

Simples

[monkeyseemonkeydo]

Possibly of interest to those in here... if you transfer any account to Halifax at the mo they give you £100 with no requirements to have your salary go to the account our set up any direct debits or anything. Just done it with a 'dead'account of mine that's been sitting with £5 in it for a few years and have got the £100 straight off! That works out at 2000% interest on the fiver! Worth doing if you have any old accounts for sure.

[Tony Harrison]

Yes because banks know that generally customers stay with them for life. I get your point, that it's effectively free money, but the UK banks and their lack of telephone customer service piss me off, to the extent that the very day I land in Britain again, I'm closing my Natwest account (they insisted they couldn't do it over the phone).