The Top Easy Access Savings Discussion Area

ashby6567

I-LOV-MONEY said:

flaneurs_lobster said:

If only you'd used that 5p back in 2008 to buy half a dozen Bitcoin.........

I  have never understood Bitcoin.   Some say you can make a fortune others tell me that I could loose all my money in an instant.   Therefore I don't touch them.   What is not in a building society / bank I put under the mattress !!

What’s your address?

SanguineOnSaturn

I-LOV-MONEY said:

SanguineOnSaturn said:

Is it the regular esaver account you are asking about as the 2 75% is fixed for 12 months in that I think.

The instant access esaver is paying 1.5% variable, or do you have an older issue paying more?

It is the 2.75% esaver.   Seeing other organisations increasing their rates, I was hoping Santander would do the same.

I-LOV-MONEY said:

SanguineOnSaturn said:

Is it the regular esaver account you are asking about as the 2 75% is fixed for 12 months in that I think.

The instant access esaver is paying 1.5% variable, or do you have an older issue paying more?

It is the 2.75% esaver.   Seeing other organisations increasing their rates, I was hoping Santander would do the same.

The 2 75 regular saver is a fixed rate

I-LOV-MONEY said:

SanguineOnSaturn said:

Is it the regular esaver account you are asking about as the 2 75% is fixed for 12 months in that I think.

The instant access esaver is paying 1.5% variable, or do you have an older issue paying more?

It is the 2.75% esaver.   Seeing other organisations increasing their rates, I was hoping Santander would do the same.

It's unlikely they will increase rates on a fixed rate product in my view. All Santander savings options seem a bit naff to me except maybe the edge saver paying 4% on up to £4k but you have to have an edge current account which has caveats.

Bridlington1

SanguineOnSaturn said:

I-LOV-MONEY said:

SanguineOnSaturn said:

Is it the regular esaver account you are asking about as the 2 75% is fixed for 12 months in that I think.

The instant access esaver is paying 1.5% variable, or do you have an older issue paying more?

It is the 2.75% esaver.   Seeing other organisations increasing their rates, I was hoping Santander would do the same.

I-LOV-MONEY said:

SanguineOnSaturn said:

Is it the regular esaver account you are asking about as the 2 75% is fixed for 12 months in that I think.

The instant access esaver is paying 1.5% variable, or do you have an older issue paying more?

It is the 2.75% esaver.   Seeing other organisations increasing their rates, I was hoping Santander would do the same.

The 2 75 regular saver is a fixed rate

I-LOV-MONEY said:

SanguineOnSaturn said:

Is it the regular esaver account you are asking about as the 2 75% is fixed for 12 months in that I think.

The instant access esaver is paying 1.5% variable, or do you have an older issue paying more?

It is the 2.75% esaver.   Seeing other organisations increasing their rates, I was hoping Santander would do the same.

It's unlikely they will increase rates on a fixed rate product in my view. All Santander savings options seem a bit naff to me except maybe the edge saver paying 4% on up to £4k but you have to have an edge current account which has caveats.

@I-LOV-MONEY is not referring to the regular e-saver. They are referring to the limited edition e-saver, which was launched last autumn also at 2.75%. 

See:
https://web.archive.org/web/20221011115930/https://www.santander.co.uk/assets/s3fs-public/documents/esaver_key_facts_document_oct_22h2.pdf

Freedommm

Finally, received a confirmation from Coventry BS, now opened the Saver Limited Access Saver (online) 6. The rest of their process is online. It still takes many hours to process a user registration online too.

andyhicks88

While we are on the subject of Santander Esaver, can you send out Standing Orders from that account? I want an account I can stick a lump sum in to drip feed into a regular saver elsewhere and that might be the easiest one for me to do it from if it has that capability. 

grumbler

andyhicks88 said:

While we are on the subject of Santander Esaver, can you send out Standing Orders from that account? I want an account I can stick a lump sum in to drip feed into a regular saver elsewhere and that might be the easiest one for me to do it from if it has that capability. 

 I don't think so. In my account 'Standing orders' tab with "Set up Standing Order to..." options shows only my current accounts in the drop-down menu.

Vortigern

andyhicks88 said:

While we are on the subject of Santander Esaver, can you send out Standing Orders from that account? I want an account I can stick a lump sum in to drip feed into a regular saver elsewhere and that might be the easiest one for me to do it from if it has that capability. 

No, you can't set up a standing order from a Santander eSaver. It can pay external accounts but can't be automated.

You can set up standing orders from a Chase savings account.

AmityNeon

Chip Instant Access bonus changing to FSCS-protected interest from 11 Feb 2023, although technically the current rate when compounded (3.04% AER) isn't explicitly mentioned to take effect from that date.

Goodbye bonus, hello interest

Earn interest on your interest every month

From 11 February 2023, the Chip Instant Access Account % return will be replaced with interest, shown as variable AER (which stands for Annual Equivalent Rate, the industry standard for comparing interest).

Your interest will accrue daily, and be paid monthly directly into your account as cash that you can withdraw anytime. It will also compound on a monthly basis, meaning each month you earn interest on your interest.

To reflect this compounding, your AER will be slightly higher than your % bonus. For example, the current 3.00% return would become 3.04% AER.

• You will not earn interest on any bonus you’ve already accrued and your bonus will not be converted to interest.
• From 11 February, bonus will no longer accrue or be awarded on the Chip Instant Access Account, only interest will be accrued and paid.

Middle_of_the_Road

Bridlington1 said:

According to moneyfacts, Coventry will be launching a new limited access saver (Issue 7) at 2.85%.
Min deposit £1
Max deposit £250k
Allows 6 penalty free withdrawals per year.

EDIT:
Now showing on their website:
https://www.coventrybuildingsociety.co.uk/member/product/savings/limited_access/limited-access-saver-online-7.html

The recent Coventry "limited access saver" rate rise, and then instant withdrawal of said account, has effectively stated that, possible rate rises due to the BOE increase are off the table.
If this is the case, is it possible they thought the raise was a mistake in the prevailing market, or just a cynical marketing ploy?

Zaul22

So have Chip become an actual bank now then?