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  • FIRST POST
    • alanq
    • By alanq 18th May 17, 10:25 AM
    • 3,682Posts
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    alanq
    Shawbrook 1.05% AER Variable Easy Access A/c
    • #1
    • 18th May 17, 10:25 AM
    Shawbrook 1.05% AER Variable Easy Access A/c 18th May 17 at 10:25 AM
    Shawbrook will launch Easy Access Issue 9 paying 1.05% AER Variable at 11:30 today. Minimum opening balance £1000. Above interest rate only applies while balance exceeds £1000.
    Last edited by alanq; 18-05-2017 at 10:27 AM.
    I'm a Board Guide on the Budgeting and Bank Accounts, Savings & Investments, Food Shopping and Over 50s MoneySaving boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com
Page 1
    • badger09
    • By badger09 18th May 17, 11:11 AM
    • 5,112 Posts
    • 4,325 Thanks
    badger09
    • #2
    • 18th May 17, 11:11 AM
    • #2
    • 18th May 17, 11:11 AM
    I'm not interested for myself, but thanks for the heads up.

    I've helped my sister to use them in the past. She's 80, won't use internet for anything, and by now will have several £ in a non interest bearing current account. Not an earth shattering rate, but better than 0.
    • alanq
    • By alanq 18th May 17, 12:15 PM
    • 3,682 Posts
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    alanq
    • #3
    • 18th May 17, 12:15 PM
    • #3
    • 18th May 17, 12:15 PM
    It is unclear whether with monthly interest the 1.04% is Gross or AER. If I understand correctly it cannot be both, as claimed on the web site. I suspect 1.04% Gross and 1.05% AER.

    https://www.shawbrook.co.uk/savings/personal-accounts/easy-access-accounts/easy-access-issue-9/
    Last edited by alanq; 18-05-2017 at 12:21 PM.
    I'm a Board Guide on the Budgeting and Bank Accounts, Savings & Investments, Food Shopping and Over 50s MoneySaving boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com
    • alanq
    • By alanq 18th May 17, 1:42 PM
    • 3,682 Posts
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    alanq
    • #4
    • 18th May 17, 1:42 PM
    • #4
    • 18th May 17, 1:42 PM
    Buried in the Ts&Cs is the mention that one can only have one Easy Access account. This covers ALL issues. To move funds from an earlier issue to Issue 9 for the higher interest rate one must phone or send a secure message requesting this.

    I wonder how long Issue 9 will remain earning a higher rate than the earlier issues.

    N.B. If you have long term plans for the account - each issue tends to be closed to additional deposits after a few months. Of the earlier issues only issue 8 is currently accepting new deposits.
    Last edited by alanq; 18-05-2017 at 6:32 PM. Reason: To add N.B.
    I'm a Board Guide on the Budgeting and Bank Accounts, Savings & Investments, Food Shopping and Over 50s MoneySaving boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com
    • buffman
    • By buffman 18th May 17, 9:06 PM
    • 361 Posts
    • 186 Thanks
    buffman
    • #5
    • 18th May 17, 9:06 PM
    • #5
    • 18th May 17, 9:06 PM
    Buried in the Ts&Cs is the mention that one can only have one Easy Access account. This covers ALL issues. To move funds from an earlier issue to Issue 9 for the higher interest rate one must phone or send a secure message requesting this.
    Originally posted by alanq
    Indeed. I sent Shawbrook a secure mention at lunch time today. By 4pm my older issue Easy Access Account had been converted into the latest issue (9), keeping the same account number. Very straight forward and efficient.
    • alanq
    • By alanq 19th May 17, 1:04 AM
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    alanq
    • #6
    • 19th May 17, 1:04 AM
    • #6
    • 19th May 17, 1:04 AM
    Made an enquiry call at 12.39. A couple of minutes wait as 3rd in queue. Sent private message at end of the call. At 13:54 I received a reply saying that my request had been actioned. I was very happy with that.

    The account number was unchanged so no interest was added when making the move. I trust that interest will be added on the anniversary of the opening of the Issue 5 account and not that of the opening of the Issue 9 account otherwise I will be missing out on compounding.
    I'm a Board Guide on the Budgeting and Bank Accounts, Savings & Investments, Food Shopping and Over 50s MoneySaving boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com
    • buffman
    • By buffman 19th May 17, 6:46 AM
    • 361 Posts
    • 186 Thanks
    buffman
    • #7
    • 19th May 17, 6:46 AM
    • #7
    • 19th May 17, 6:46 AM

    I trust that interest will be added on the anniversary of the opening of the Issue 5 account and not that of the opening of the Issue 9 account otherwise I will be missing out on compounding.
    Originally posted by alanq
    And I thought that I was the only person who could be bothered to chase an extra 0.05%!
    • alanq
    • By alanq 19th May 17, 8:20 AM
    • 3,682 Posts
    • 2,357 Thanks
    alanq
    • #8
    • 19th May 17, 8:20 AM
    • #8
    • 19th May 17, 8:20 AM
    And I thought that I was the only person who could be bothered to chase an extra 0.05%!
    Originally posted by buffman
    I had initially misunderstood and thought that Issue 5 rate had dropped from 1% to 0.75% (which was issue 8). Still I did the right thing because I wanted to make an additional deposit and that was no longer possible with Issue 5.
    I'm a Board Guide on the Budgeting and Bank Accounts, Savings & Investments, Food Shopping and Over 50s MoneySaving boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com
    • isasmurf
    • By isasmurf 19th May 17, 8:46 AM
    • 1,719 Posts
    • 738 Thanks
    isasmurf
    • #9
    • 19th May 17, 8:46 AM
    • #9
    • 19th May 17, 8:46 AM
    I wonder how long Issue 9 will remain earning a higher rate than the earlier issues.
    Originally posted by alanq
    Looking at their rates for withdrawn issues, they seem to be quite good at maintaining interest rates. Issues 1 to 3 and 6, for example, are still paying 1.1%. In fact, it's only issue 8 that pays less than 1%.
    • Chloe_G
    • By Chloe_G 21st May 17, 7:52 AM
    • 28 Posts
    • 7 Thanks
    Chloe_G
    I'm quite happy with Shawbrook. Their communication when rates change and new products start is much clearer than any other institution that I deal with!
    • mt99
    • By mt99 17th Aug 17, 7:37 AM
    • 337 Posts
    • 151 Thanks
    mt99
    Their instant access rate is now 1.2%
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