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  • FIRST POST
    • jamesblue
    • By jamesblue 5th Jul 17, 8:42 PM
    • 46Posts
    • 3Thanks
    jamesblue
    Savings Rate Tart
    • #1
    • 5th Jul 17, 8:42 PM
    Savings Rate Tart 5th Jul 17 at 8:42 PM
    I have been a lazy saver because of the record low savings rates. But now want to stay on of my savings, and have the following questions


    1. What is the best UK Account aggregation site, so you can see where the money is at and get a overall balance?


    2. Same site if it has it, or another where you can put in how much you have then get emailed if the rate is no longer the best and where they suggest to change to?




    Thank you
Page 1
    • YorkshireBoy
    • By YorkshireBoy 5th Jul 17, 8:49 PM
    • 29,537 Posts
    • 17,355 Thanks
    YorkshireBoy
    • #2
    • 5th Jul 17, 8:49 PM
    • #2
    • 5th Jul 17, 8:49 PM
    Record low rates? I wouldn't call 3-5% particularly low in the current climate.

    All you need is on this very website. Google ewise account unity for your account aggregator.
    • jamesblue
    • By jamesblue 5th Jul 17, 9:21 PM
    • 46 Posts
    • 3 Thanks
    jamesblue
    • #3
    • 5th Jul 17, 9:21 PM
    Base Rate
    • #3
    • 5th Jul 17, 9:21 PM
    Sorry I meant the Base Rate. I know there are current accounts that pay good rate, but only on small amounts. Otherwise savings accounts are poor, even fixed 5 years pay less then 3%.


    I will have a look at ewise.




    Thanks
    • RG2015
    • By RG2015 5th Jul 17, 10:13 PM
    • 501 Posts
    • 240 Thanks
    RG2015
    • #4
    • 5th Jul 17, 10:13 PM
    • #4
    • 5th Jul 17, 10:13 PM
    Not sure if it is quite what you mean but Savings Champion is quite good and does some of the things you ask for.
    • jamesblue
    • By jamesblue 5th Jul 17, 10:21 PM
    • 46 Posts
    • 3 Thanks
    jamesblue
    • #5
    • 5th Jul 17, 10:21 PM
    • #5
    • 5th Jul 17, 10:21 PM
    Not sure if it is quite what you mean but Savings Champion is quite good and does some of the things you ask for.
    Originally posted by RG2015

    Savings Champion looks good, for the other question I was asking account aggregation, helps you manager your money better, just created a login with Money Dashboard and testing it out.




    Thanks
    • RG2015
    • By RG2015 5th Jul 17, 10:51 PM
    • 501 Posts
    • 240 Thanks
    RG2015
    • #6
    • 5th Jul 17, 10:51 PM
    • #6
    • 5th Jul 17, 10:51 PM
    Savings Champion allows you to input all of your savings account balances and gives you a total at the bottom. A very simple aggregation function. But they do provide emails and good information on the market leading savings accounts.

    As regards Money Dashboard and other banking software I believe that some require you to put in your banking security details to facilitate data downloads. These sites and programs are probably completely secure and private however they may break banking terms and conditions requiring that passwords and PINs are never disclosed to anyone.

    If however the data is transferred manually then this is unlikely to breach banking Ts & Cs. I believe that this whole issue remains a grey area.
    Last edited by RG2015; 05-07-2017 at 10:55 PM.
    • jimjames
    • By jimjames 5th Jul 17, 11:05 PM
    • 12,189 Posts
    • 10,709 Thanks
    jimjames
    • #7
    • 5th Jul 17, 11:05 PM
    • #7
    • 5th Jul 17, 11:05 PM
    Sorry I meant the Base Rate. I know there are current accounts that pay good rate, but only on small amounts. Otherwise savings accounts are poor, even fixed 5 years pay less then 3%.
    Originally posted by jamesblue
    Depends what you call small amounts, I don't call £20k plus small amounts but everyone is different. If you already have enough savings then maybe look at investments next?
    Remember the saying: if it looks too good to be true it almost certainly is.
    • Reaper
    • By Reaper 6th Jul 17, 10:12 AM
    • 6,144 Posts
    • 4,382 Thanks
    Reaper
    • #8
    • 6th Jul 17, 10:12 AM
    • #8
    • 6th Jul 17, 10:12 AM
    For an account aggregator I use www.ewise.com.au/accunity/aa/home.asp

    Various banks use this software for aggregation (eg First Direct) but I prefer using the source software as it is faster.

    Note that it is deliberately bare bones as they intend banks to buy it off them and add their own branding. You need to use Internet Explorer with it (not Edge).

    It will connect to all your savings, banks account, credit cards etc with a single master login. All the account passwords are held encrypted on your local machine only. It also means you can log in to any one of them without having to remember your passwords (other than the master).

    I don't trust the various mobile Apps available to manage your money, I suspect they are gathering data for spam marketing.
    • stephennt
    • By stephennt 6th Jul 17, 12:05 PM
    • 28 Posts
    • 22 Thanks
    stephennt
    • #9
    • 6th Jul 17, 12:05 PM
    • #9
    • 6th Jul 17, 12:05 PM
    As regards Money Dashboard and other banking software I believe that some require you to put in your banking security details to facilitate data downloads. These sites and programs are probably completely secure and private however they may break banking terms and conditions requiring that passwords and PINs are never disclosed to anyone.

    If however the data is transferred manually then this is unlikely to breach banking Ts & Cs. I believe that this whole issue remains a grey area.
    Originally posted by RG2015

    European PSD2 directive kicks in in a few months - by law banks are required to open up to account aggregators...
    • RG2015
    • By RG2015 6th Jul 17, 1:47 PM
    • 501 Posts
    • 240 Thanks
    RG2015
    European PSD2 directive kicks in in a few months - by law banks are required to open up to account aggregators...
    Originally posted by stephennt
    Thanks. I hadn't heard about this. Does this mean that banks are going to have to change their Ts&Cs to qualify the clauses that prohibit disclosure of passwords and PINs?
    • Reaper
    • By Reaper 6th Jul 17, 4:38 PM
    • 6,144 Posts
    • 4,382 Thanks
    Reaper
    Thanks. I hadn't heard about this. Does this mean that banks are going to have to change their Ts&Cs to qualify the clauses that prohibit disclosure of passwords and PINs?
    Originally posted by RG2015
    It was news to me to, but yes they will have no choice. I had a very quick read. Security will be based on 2 or more of the following: knowledge (eg password), possession (eg code making device) and inheritance (eg fingerprint).

    And it's not just aggregation it's payments too. For example if you want to buy something off Amazon but don't own a credit card a 3rd party can arrange payment from your bank account instead - that means banks may lose their front facing role and become mere repositories. I can image Google or somebody offering banking services that tap into a variety of savings and bank accounts in the background leaving the bank regulated to a minor role, separated from their customers. If I were a bank I would be worried.
    • stephennt
    • By stephennt 7th Jul 17, 3:35 PM
    • 28 Posts
    • 22 Thanks
    stephennt
    Thanks. I hadn't heard about this. Does this mean that banks are going to have to change their Ts&Cs to qualify the clauses that prohibit disclosure of passwords and PINs?
    Originally posted by RG2015
    I doubt banks will totally remove this clause, as you never want your bank card PIN disclosed, but they would for sure have to provide an alternative secure login method for aggregators, etc to connect.
    • colsten
    • By colsten 7th Jul 17, 8:59 PM
    • 8,792 Posts
    • 7,469 Thanks
    colsten
    I doubt banks will totally remove this clause, as you never want your bank card PIN disclosed, but they would for sure have to provide an alternative secure login method for aggregators, etc to connect.
    Originally posted by stephennt
    You don't give your login details or card PIN to the firm that provides the aggregator. I don't know of any provider who prohibits the use of account aggregators.

    European PSD2 directive kicks in in a few months - by law banks are required to open up to account aggregators...
    Originally posted by stephennt
    Apparently we're out of that useful club in less than 2 years time.

    For an account aggregator I use www.ewise.com.au/accunity/aa/home.asp...........

    It will connect to all your savings, banks account, credit cards
    Originally posted by Reaper
    Wish that was actually the case. They support a big list of providers but I presently miss KRBS, Ford Money, Cambridge Building Society, Leeds BS, Coventry BS, Newbury BS, and they can't show you your M&S balances though that is M&S's fault. Still, they are indispensable for me.
    • tempus_fugit
    • By tempus_fugit 7th Jul 17, 11:02 PM
    • 304 Posts
    • 292 Thanks
    tempus_fugit
    Ewise looks good but it's Internet Explorer only. As a Mac user that's me excluded.
    • jamesblue
    • By jamesblue 8th Jul 17, 3:18 PM
    • 46 Posts
    • 3 Thanks
    jamesblue
    For an account aggregator I use www.ewise.com.au/accunity/aa/home.asp

    Various banks use this software for aggregation (eg First Direct) but I prefer using the source software as it is faster.

    Note that it is deliberately bare bones as they intend banks to buy it off them and add their own branding. You need to use Internet Explorer with it (not Edge).

    It will connect to all your savings, banks account, credit cards etc with a single master login. All the account passwords are held encrypted on your local machine only. It also means you can log in to any one of them without having to remember your passwords (other than the master).

    I don't trust the various mobile Apps available to manage your money, I suspect they are gathering data for spam marketing.
    Originally posted by Reaper

    Thanks, I am on ewise mailing list for when the new version they are working on comes out. Try out Yodlee for the moment, really good.
    • jamesblue
    • By jamesblue 8th Jul 17, 3:19 PM
    • 46 Posts
    • 3 Thanks
    jamesblue
    Depends what you call small amounts, I don't call £20k plus small amounts but everyone is different. If you already have enough savings then maybe look at investments next?
    Originally posted by jimjames


    Thank you are right, I have already done Santander 123 to the max. Even when they reduced it, it is still a very good account.
    • jamesblue
    • By jamesblue 30th Jul 17, 6:21 PM
    • 46 Posts
    • 3 Thanks
    jamesblue
    Quick update, I setup my accounts in Yodlee Money (free service, https://money.yodlee.com), it is really good for knowing trends on savings and investments, see net worth.

    There was only a couple of accounts, that they did not support, so I added them manually.

    For the non fixed Savings, I am using Savings Champion https://www.savingschampion.co.uk/and just login once a month to see if I am on the best rate. It is a shame they do not automatically email to suggest a better rate, but it does not take long to login.


    Thanks the advice.
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