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Savings account requiring multiple signatures to withdraw

Last post Fri, May 11 2007, 1:56 PM by absentfriend. 3 replies.
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  •  Fri, May 11 2007, 1:56 PM

    Re: Savings account requiring multiple signatures to withdraw

    Any small BS like Principality should be able to help you.

     

    Cat

    • Post Points: 5
  •  Fri, May 11 2007, 1:49 PM

    Re: Savings account requiring multiple signatures to withdraw

    Hi Cat

    I've done that already - found several accounts with good rates but once I got down into the detail I came across problems.  The savings account has to be standalone and not linked to a bank current account.   I thought the Post Office Instant Saver would do, but the terms and conditions for joint accounts are that they can act on any one of the holder's authority with no option of requiring both signatures.  A number of other places would let you specify two signatures for withdrawal but then had internet/telephone banking attached to it where only one authority was needed.

    I was hoping that someone on the forum had experience of a company which did allow two signatures for withdrawal and no internet/telephone options.

    Thanks anyway
    .

     

     

    • Post Points: 20
  •  Fri, May 11 2007, 1:33 PM

    Re: Savings account requiring multiple signatures to withdraw

    You can specify the signature combination you wish on most bank accounts; this shouldn't be a problem.

    Try a building society passbook account; if you are in Wales I can recommend the Principality Super Six account, which I have (60 days' notice, I think).

    Use the MS search tools to find a good savings account, open it, then sort out the signatory specifications.

    HTH

    Cat

    • Post Points: 20
  •  Fri, May 11 2007, 11:52 AM

    Savings account requiring multiple signatures to withdraw

    Hi

    Does  anyone know of a savings account where the signatures of both account holders are needed for any transaction?  It is important that neither party to the account can do anything without the other one's signature so I guess that rules out internet and telephone accounts.  It doesn't matter if there is a notice period to withdraw but we should be able to pay money in at any time.  The money could come from any of several bank accounts so a saving account which restricts payments in to a specified account is no good.  And of course, we'd like a good rate of interest.  Initially we will be putting around £12k in.


     

    • Post Points: 20