Can I have a savings account?

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GraysAnatomy

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Post by GraysAnatomy » Tue Oct 06, 2020 8:38 am
Can I have a savings account and if so how much would I be allowed to save each month?

Would I have to provide the statements for my savings account at annual review?

I’m worried to save money just in case it’s then just taken away from me.

kallis3

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Post by kallis3 » Tue Oct 06, 2020 8:56 am
You can have a savings account but will only really be able to save from your allowances and your share of any bonuses or overtime. You probably won't have to produce a statement.
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Foggy

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Post by Foggy » Tue Oct 06, 2020 9:08 am
A modest savings account is a good idea and can, as Kallis says, be used for those allowances that need to be saved each month for that rainy day as well as your shares of overtime and bonus payments. You would be expected to save only a modest amount and the IP probably would pay no heed.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
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WallE

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Post by WallE » Tue Oct 06, 2020 6:16 pm
As has been said, a modest savings account isn't a bad idea for a rainy day etc.

Nothing to stop you sticking a few quid under a mattress though :wink:
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