The Top Easy Access Savings Discussion Area

diystarter7

pearl123 said:

Kazza242 said:

The account is opened and managed online and the minimum opening amount is £1.  It allows 3 penalty-free withdrawals per year.  

Interest is paid yearly (on the anniversary of account opening).

https://www.sainsburysbank.co.uk/savings/sav_definedsaver_skip

I hope that savings accounts with limited access become a trend. They're a pain. 

Hi
They can and they can't.
We have the bulk of our tens of k's in two limited access acounts as we find a pin fixed accounts/rates
We then have max holdings in P/Bonds
We then have several tens of k's in current accounts - yes, especially now rates are going up we are throwing money down the drain
One of the limited saving accounts has one witdrawl  - we open that as we were well over the max with the coverntry, older savings account via phone/net etc that allows 6 withdrawals and rate atm is about 2.9% going to 3-15% in Feb i think

In all honest, we never had a problem and we could go fixed, but like you think limited access is a pin, we feel fixed is a pin as I do things overnight at times.

Even with limited access, like the coverntry 6 times allowed but an old account, put money in there you feel you would only need when upgrading your house or buying a top of the range suv and the rest in current accounts for very easy of access, p/bonds and ordianrry saving accounts. Your choice your money

Yes to all I am aware re having that much money in our joint current account, not sensible but we have always been like that

infoadict

Just registered with the CHIP app to enable me to transfer money into the Instant Access Savings @ 3%, when their bonus changes to interest on 11th February.

Not sure if this is common knowledge (not seen it mentioned on here - just the possible Topcashback) reward, but they are offering various bonuses ranging from £10 on a £5,000 deposit up to £50 on a £20,000 deposit, to new customers. You enter the appropriate code on your app before 30th January and I have up to the 31st July to make the deposit.

Only snag is you have to keep the deposit in there for 6 months.

https://www.getchip.uk/instant-access-account/money-to-the-masses#how-redeem

TiVo_Lad

mebu60 said:

On the plus side, Issue 37 now appears immediately rather than the new account taking 5 or so days. If at all, which also occurred twice!
Capital transferred (from Issue 33, 2.75% since October), secure message sent requesting closure of old account and interest to be transferred too.
If Sainsbury's (and Tesco) are going to continue with this MO they could take a leaf out of Cynergy's book and have an online 'close and transfer' option for the old account.

It is bonkers. I opened the Issue 37 and transferred the entire balance from Issue 36, which then had a zero balance even though the minimum balance is £1.

Would that trigger the closure? No.

The FAQ says when you click on an account there's a "Close" option on the right of the screen.

Was there? No.

So I had to spend half an hour on hold to speak to someone to close the account and transfer the interest. Totally nuts.

As you say, Cynergy is a total breeze.

janusd

TiVo_Lad said:

mebu60 said:

On the plus side, Issue 37 now appears immediately rather than the new account taking 5 or so days. If at all, which also occurred twice!
Capital transferred (from Issue 33, 2.75% since October), secure message sent requesting closure of old account and interest to be transferred too.
If Sainsbury's (and Tesco) are going to continue with this MO they could take a leaf out of Cynergy's book and have an online 'close and transfer' option for the old account.

The FAQ says when you click on an account there's a "Close" option on the right of the screen.

Was there? No.

there should be - there is for me...

looking at the closure form, it seems you could have used it to transfer the balance upon closing the old account to the newer account.

SonOfPearl

janusdesign said:

TiVo_Lad said:

mebu60 said:

On the plus side, Issue 37 now appears immediately rather than the new account taking 5 or so days. If at all, which also occurred twice!
Capital transferred (from Issue 33, 2.75% since October), secure message sent requesting closure of old account and interest to be transferred too.
If Sainsbury's (and Tesco) are going to continue with this MO they could take a leaf out of Cynergy's book and have an online 'close and transfer' option for the old account.

The FAQ says when you click on an account there's a "Close" option on the right of the screen.

Was there? No.

there should be - there is for me...

looking at the closure form, it seems you could have used it to transfer the balance upon closing the old account to the newer account.

I don't have that option to "close my account" either for some unknown reason, so I have the same issue as TiVo_Lad. I just sent them a secure message to ask them to close it. 

TiVo_Lad

janusdesign said:

there should be - there is for me...

looking at the closure form, it seems you could have used it to transfer the balance upon closing the old account to the newer account.

Looks like different folks get different options:

As I said. Bonkers.

ForumUser7

Saffron Building Society has increased some of their variable rates from today 18th January 2023.

https://www.saffronbs.co.uk/sites/default/files/2023-01/VariableRateGuide18.01.23.pdf

Minty33

TiVo_Lad said:

Looks like different folks get different options:

As I said. Bonkers.

I had this on an old ISA too
I think they have a bugette when the balance is zero you lose the option to "close my account"

TiVo_Lad

Minty33 said:

TiVo_Lad said:

Looks like different folks get different options:

As I said. Bonkers.

I had this on an old ISA too
I think they have a bugette when the balance is zero you lose the option to "close my account"

This is from an open account with a non-zero balance.

changearound1

TiVo_Lad said:

Minty33 said:

TiVo_Lad said:

Looks like different folks get different options:

As I said. Bonkers.

I had this on an old ISA too
I think they have a bugette when the balance is zero you lose the option to "close my account"

This is from an open account with a non-zero balance.

It might be worth trying with a different browser. I had a similar situation recently whilst closing a First Direct savings account. The relevant field wasn't there on Firefox but was on Chrome.