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| Articles about Woolwich |
| Alternatives to the Woolwich Cardsaver account | | 2007-05-19 11:35:03 | | Now that Barclays are scapping the excellent Woolwich Cardsaver account, are there any alternatives that give a similar level of usefulness from a savings account?
Sadly, none offer the combination of reasonable interest with international debit card access but there are a number of accounts around at the moment which offer most of the attributes of this sadly missed account.
If you don’t fail the credit check, the Egg Money card is excellent. This gives you a Mastercard debit card with no cash withdrawal charges at home and abroad (foreign exchange of 2.75% applies), good interest when in credit, an excellent rate if you’re overdrawn with it and internet access. Where it falls down is that it isn’t a true bank account so you need to quote the reference number on your card when making payments and you don’t seem to be able to get cheques written from the account if you needed to withdraw more than the £500 daily limit (although you could buy things with it). Al... | | By: Foreign Perspectives | | |
| | Woolwich changes into Barclays: the “improvements” | | 2007-05-17 15:30:26 | | Barclays Bank bought the Woolwich Building Society around seven years ago but really did very little to integrate the two outfits until now. In fact, the only visible changes to date is that the Woolwich stopped issuing credit cards under its own name and various documents started having “a trading name of Barclays Bank” or words to that effect added to them.
The original reason put forward for their purchase was to acquire the technology that Woolwich used to implement its excellent Open Plan account, an account that let you offset any savings that you have against your mortgage. Not really a great move on the whole as the Woolwich technology was extremely primitive even then and, though operational, did silly things like charge you interest when you wrote a cheque against money that you actually had in a linked savings account and then refunding that the following month.
In due course, Barclays ran up a version for themselves and improved the offering from the Woolwich.
H... | | By: Foreign Perspectives | | |
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