The Top Easy Access Savings Discussion Area

happybagger

For me, it's a no-go (I only have two DDs on my main current account, and that requires it) also I'd need to look at ways of transferring in £800 and back as I'm not in employment. Too many requirements. Just wanted to check I wasn't missing something. Ta for replies

AmityNeon

ForumUser7 said:

Deleted_User said:

Re-Barclays and the two Direct Debits, you have to make sure you get the account before the two direct debits are paid with the calendar month, otherwise you lose the first £5. That happened to me. Opened the account on 17th, my direct debits come out 4th & 24th so that counted as only one the first month, I thought it was going to be a month from the day you open it. You live and learn.

Thanks for this - I was going to sign up for blue rewards mid-month but both my ecology direct debits are taken on the 1st of the month I think. If I was to apply for blue rewards at like 00:00:01 on 1st February, should that work fine for the blue rewards system please? I'm unsure how registration works - i.e. is it instant, does it take place from the next day etc. Thank you

Adding Blue Rewards is near-instant (or definitely same day). Ecology direct debits are collected on the 3rd working day of the month.

Bridlington1

According to moneyfacts Sainsbury's bank will be launching a new defined access saver (issue 36) at 2.75%.

EDIT:
Now showing on the website, see:
https://www.sainsburysbank.co.uk/savings/sav_definedsaver_skip#summary-box

SonOfPearl

Bridlington1 said:

According to moneyfacts Sainsbury's bank will be launching a new defined access saver (issue 36) at 2.75%.

EDIT:
Now showing on the website, see:
https://www.sainsburysbank.co.uk/savings/sav_definedsaver_skip#summary-box

Thanks. I have issue 33 of this product and it seems to be exactly the same, so I'm not sure whether to open issue 36 or not. I think I will, in case the interest rates differ in future. 

andyhicks88

The thing with the Chip account is that part of it's marketing and hype it gave itself was the fact it was going to react to the boe rate changes, so based on that when/if it rises again next month they are going to find it a bit hard not to increase it again, even now it's paying normal interest and compounding (which results in a slightly higher AER) so I think this is one to definitely keep an eye on.

patpalloon

I guess we won't be seeing any more rises until the next BoE meeting (if rates go up). Have savings interest rates peaked? Seems to be that way with fixed. The current 6 month fix for Atom is lower now than when I opened one in November.

Pompeydave1967

Fixed have def slowed up , was waiting to see if a 4.7 - 5.0 would happen but nothing.
Maybe everything has peaked now.

happybagger

Bound to be a few more increases to variable rates on 1 Feb especially from building societies that like to do things this way. There has been a lot of consumer sales info out the last few days that seems to imply spending is not being impacted too much at the moment by the "cost of living crisis" which will likely feed into how the market thinks interest rates will change. Inflation figures due 18 Jan.

Medium term fixes have levelled off after a drop. Feels like a period of 'let's hang on and see'.

phillw

andyhicks88 said:

The thing with the Chip account is that part of it's marketing and hype it gave itself was the fact it was going to react to the boe rate changes, 

Do you have a link to what they specifically said?

They could "react" to the rate change in many different ways.

flaneurs_lobster

phillw said:

andyhicks88 said:

The thing with the Chip account is that part of it's marketing and hype it gave itself was the fact it was going to react to the boe rate changes, 

Do you have a link to what they specifically said?

They could "react" to the rate change in many different ways.

The Chip puffery is here 

https://www.getchip.uk/savings-accounts/instant-access-account

"A new savings account from Chip built to move with the Bank of England and reward you faster than the banks".

As @phillw says, open to interpretation.