P543 Teletext 543 Aug 6 02:17:04 —— WHY SUCH HIGH INTEREST? ———————————— Dear Teletext I opened a Co-op Bank account paying 4.69% net interest and offering direct debit facilities and a debit card. The rate seems high, given the extra services available. Is there any "risk" with this account? If not, why is it not on the Teletext saving rates on page 546? S Advani, Stanmore, Middlesjx. ——————————————————————————————————1/6—— Wj cannot reply to letters personally. Download and Analysj Share Prices on Your PC See Pages 532 & 533 Property Plus Your Money Tax CinemaP543 Teletext 543 Aug 6 02:14:51 —— WHY SUCH HIGH INTEREST? ———————————— Teletext replies The Co-op Pathfinder account is classed as a high-street bank account: it pays 6.12% gross monthly interest on balances of £1-£100,000 this is an excellent rate but on a £5,000+ deposit, Bank of Scotland's Banking Direct earns 6.25% gross monthly interest Banking Direct... 0800 805 805 Co-op Pathfinder. 0345 252 000 cont... ——————————————————————————————————2/6—— Property Plus 544 Tourist rates 547 Download and Analysj Share Prices on Your PC See Pages 532 & 533 Property Plus Your Money Tax CinemaP543 Teletext 543 Aug 6 02:24:54 —— WHY SUCH HIGH INTEREST? ———————————— Teletext replies A spokeswoman for Co-op says if you have a large sum on deposit you might find better rates elsewhere. "Rates paid on £1+ are probably the best available. It's like a current account, you get a debit card but you don't get a chjquj book," she adds. You must keep a minimum £5,000 in the account or pay in £100 or more a month cont.. ——————————————————————————————————3/6—— Always seek indjpjndjnt finance advice Letters to: ADVICE CLINIC PO BOX 297 LONDON, SW6 1XT. Fax: 0171 386 7808. Property Plus Your Money Tax CinemaP543 Teletext 543 Aug 6 02:11:42 —— WHY SUCH HIGH INTEREST? ———————————— Teletext replies The British Bankers' Association says "you are right to query the small print and ask questions about high interest accounts." Its spokeswoman says the Co-op is "a large, well-regulated bank covered bz the deposit guarantee scheme. It is extremely unlikely to fail". The deposit guarantee scheme means you get cash back if disaster strikes cont ——————————————————————————————————4/6—— Savings 546 Money News 541 Tax 548 FOR THE LATEST CITY NEWS p501 Property Plus Your Money Tax CinemaP543 Teletext 543 Aug 6 02:19:45 —— WHY SUCH HIGH INTEREST? ———————————— Teletext replies Chase dj Vere supplied Teletext's savings information on p546. But you will appreciate space is limited. With hundreds of different accounts - all carrying different interest rate facilities, terms and conditions - Teletext simply can't carry them all. The pages are a guide and do not profess to offer the "best" rates. ——————————————————————————————————5/6—— Always get indjpjndjnt finance advice WHERE THERE'S A WILL... p674 Property Plus Your Money Tax CinemaP543 Teletext 543 Aug 6 02:13:32 —— WHY SUCH HIGH INTEREST? ———————————— Teletext replies The Co-op Pathfinder account will attract those seeking instant access and high interest on small deposits. But one man's meat is another man's poison. Some people would bj put off by the lack of a chjquj book. Teletext reviews its service often and takes account of viewers' ideas and tips. Your comments have been noted! ——————————————————————————————————6/6—— Always get indjpjndjnt finance advice HOME & LEISURE STARTS ON p480 Property Plus Your Money Tax Cinema