Ice Save raise rate to 5.7% from 19 Jan

jessmjc

Went through easily as it was from my linked account.

(This account was/is also inked to ING Direct ) - I've left approx £800 with ING for now....

tom188

jessmjc wrote:

Went through easily as it was from my linked account.

(This account was/is also inked to ING Direct ) - I've left approx £800 with ING for now....

Why not leave a £1? No point wasting your money...

MiserlyMartin

Icesave are fine. I think I will be moving a bit of money from ICICI to Icesave because they are paying a little more at Icesave. I also trust Icesave with my money a little more than ICICI.

tom188

MiserlyMartin wrote:

Icesave are fine. I think I will be moving a bit of money from ICICI to Icesave because they are paying a little more at Icesave. I also trust Icesave with my money a little more than ICICI.

Youll lose money on the first, but maybe gain reassurance with on the second point.

MiserlyMartin

Did you mean I would lose money (interest) while transferring? But ICICI are at 5.65 and Icesave at 5.7%

tom188

On 10000 you will gain £5 by the transfer over the year.
On 10000 you will lose £1.55 on each day the transfer takes so for 4 days £6.20. If you have to straddle the weekend you could lose over a tenner.

After all 0.05% is a very small difference.

MiserlyMartin

Thanks. How about moving 18K thats stuck at 5.3% in the Yorkshire BS internet saver? They were very slow to pass the rate rise on last time and even then its not the top payer. I'm sure they will take ages to pass this one one too or any future ones.
I think thats worth moving to Icesave (I almost forgot about that account!)

tom188

Yes

About extra £50 per year gross once youve considered the loss in transfer.

Unless you want to see if YBS will near match it when they review their rates.

Bisoy

tom188 wrote:

I presume you mean provided if they dont react to future increases. Otherwise you will lose more on the transfer than you wil gain on the differential.

That's precisely what I mean Tom. I will keep a close eye on my A&L Direct Saver comes February 1st if they won't react I'll move it to ICESAVE then back if they decide to increase their rate later.;)

LardyCake

MiserlyMartin wrote:

Thanks. How about moving 18K thats stuck at 5.3% in the Yorkshire BS internet saver? They were very slow to pass the rate rise on last time and even then its not the top payer. I'm sure they will take ages to pass this one one too or any future ones.
I think thats worth moving to Icesave (I almost forgot about that account!)

I was thinking just the same about my YBS Internet Saver until I saw this thread: http://forums.moneysavingexpert.com/showthread.html?t=348815
(posts 9 & 11, about half way down the page) about the YBS Regular Saver. Worth having a look...
I'm now going to leave £20,000 in the YBS Internet Saver & transfer (internal so no loss of interest) £500 each month to the YBS Regular Saver (6.75% before any increase for the last Base rate change) until I reach the £20,000 limit on the Regular Saver (which does not appear to have the usual "runs for 1 year only" condition).