The Top Easy Access Savings Discussion Area

BillBillBillBill

...However, there is a problem with these 'on-line' accounts, which alas is not detailed when following MSE recommendations or indeed by the bank itself until either at the end of the application or by email afterwards.

For example, I have tried to open both a Sainsburys and Cynergy easy access account. However both require witnessed ID documents to be sent to them. Cynergy only tell you this via email once one has wasted ones time going through all the application form. 

One has to photocopy ID documents (I don't have a copier) and then get it witnessed by a Doctor (who charges) or other person 'in authority'. They only accept an original signature (wet, they call it) so every application needs a new signature. 

Others are very good, Chase accept emailed photos. Coventry have an automated system to send ID photos & selfies. They still require a paper application, but they send the almost completed form to you, just requiring a signature and opening cheque & even include a pre-paid return envelope.

It is a shame a little more research is not carried out by MSE, rather than just posting the top interest rate each day.

ranciduk

mebu60 said:

flobbalobbalob said:

mebu60 said

You can message Shawbrook online requesting change of EA account.
You need minimum £1k to get the full rate.
My £1 in Issue 29 was getting 0.05%.

Did you have to deposit the full £1k first ?

Yes, it's a minimum opening balance of £1k. You can subsequently go lower (minimum withdrawal £500) but won't then get top rate of interest. 
If you're asking whether you can do a test £1 payment, I can't recall. If they return it then that demonstrates you had the correct details so you can confidently send £1k to see that before doing any more. Or do £1k very very carefully, triple check and check again! 

No that’s no right

i didn’t deposit 1k when I opened mine

i put a small amount in. Then once I upped the balance to 1k the interest rate changed to the full percentage 

ranciduk

refluxer said:

ranciduk said:

refluxer said:

Shawbrook have just released issue 32 of their Easy Access account, paying 2.92% AER...

Shawbrook Easy Access Account - Issue 32

2.92% annually / 2.88% monthly (variable)
£1,000 minimum opening balance
£500 minimum withdrawal
Open and manage account online
Next working day access to your funds if withdrawn online before 9:30pm

Finally!

but I just logged into my account and it’s still showing the old rate of 2.3% still…..

I would keep an eye on your emails and online banking messages to see whether they're going to increase the rate on previous issues or, as suggested above, just contact them and 'upgrade' your account to the current issue.  

Yep I sent them a secure message through their portal - the rate has now been changed

Reddleman79

"...However, there is a problem with these 'on-line' accounts, which alas is not detailed when following MSE recommendations or indeed by the bank itself until either at the end of the application or by email afterwards.

For example, I have tried to open both a Sainsburys and Cynergy easy access account. However both require witnessed ID documents to be sent to them."

The above quote (posted inappropriately on the 'no chat'  thread is incorrect. I have opened three Sainsbury's instant access accounts, and have not had to send copies of ID. The last one I opened in under five minutes), and I don't have any influential friends!

refluxer

Reddleman79 said:

"...However, there is a problem with these 'on-line' accounts, which alas is not detailed when following MSE recommendations or indeed by the bank itself until either at the end of the application or by email afterwards.

For example, I have tried to open both a Sainsburys and Cynergy easy access account. However both require witnessed ID documents to be sent to them."

The above quote (posted inappropriately on the 'no chat'  thread is incorrect. I have opened three Sainsbury's instant access accounts, and have not had to send copies of ID. The last one I opened in under five minutes), and I don't have any influential friends!

I would guess the poster failed the standard online ID checks for some reason and didn't qualify the statement above with that info because it wasn't obvious and the procedure appeared to be normal.

I've opened bank accounts with dozens of banks over the years and have never once needed to prove my ID with a document that needed certifying or witnessing. If I did, I would cancel the application and move on to the next bank on the list. There are currently no accounts that are worth the time, effort and (most importantly) the expense of getting that done, IMO.

Saying that - if there was something about your circumstances that meant that was likely to happen every time, then I guess you'd have no choice !

Steve_xx

Re. Kroo
The £10 taken from my non Kroo account has now appeared in it some 13 hours later. I sent them a message about it, which shows as delivered. But Kroo are yet to respond. I have to say that due to this as yet unexplained time gap, and the fact that the the app is laggy, that I'm a tad sceptical about Kroo.
Also worth noting is that when you move away from the app, it takes a very long time before access is denied unless you logoff.
Similarly the biometric login process seems to be a very hit and miss affair. Invariably it demands email address and password, even though it's set to login with my fingerprint.

BigBlueSky

Steve_xx said:

Re. Kroo
The £10 taken from my non Kroo account has now appeared in it some 13 hours later. I sent them a message about it, which shows as delivered. But Kroo are yet to respond. I have to say that due to this as yet unexplained time gap, and the fact that the the app is laggy, that I'm a tad sceptical about Kroo.
Also worth noting is that when you move away from the app, it takes a very long time before access is denied unless you logoff.
Similarly the biometric login process seems to be a very hit and miss affair. Invariably it demands email address and password, even though it's set to login with my fingerprint.

Are you sure the transfer wasn't held up by your other bank ?

I'm just about to do a test transfer into my new Kroo account so will see how that goes.

Edit - Transfer done at 13:00.  Will report back how long it takes.

Edit 2 - 13:01 Funds have arrived !!

jak22

Shawbrook even have a specific message for Change Issue so it's an easier process than many with no phone call needed. They may still be behind some NLA accounts from Coventry or Kent Reliance etc - but otherwise lead the table although there is the time taken for withdrawals to come through to remember.

Steve_xx

BigBlueSky said:

Steve_xx said:

Re. Kroo
The £10 taken from my non Kroo account has now appeared in it some 13 hours later. I sent them a message about it, which shows as delivered. But Kroo are yet to respond. I have to say that due to this as yet unexplained time gap, and the fact that the the app is laggy, that I'm a tad sceptical about Kroo.
Also worth noting is that when you move away from the app, it takes a very long time before access is denied unless you logoff.
Similarly the biometric login process seems to be a very hit and miss affair. Invariably it demands email address and password, even though it's set to login with my fingerprint.

Are you sure the transfer wasn't held up by your other bank ?

I'm just about to do a test transfer into my new Kroo account so will see how that goes.

No I think not. The tenner showed as gone from the donor bank immediately. Balance and pending balance at donor bank were equal. Even Kroo confirmed that the transaction was successful because I pulled the tenner from within the Kroo app, rather than sending it from the donor bank.
It was a bit strange that the Kroo app managed to log itself into my donor banks app to grab the tenner.

BigBlueSky

Steve_xx said:

No I think not. The tenner showed as gone from the donor bank immediately. Balance and pending balance at donor bank were equal. Even Kroo confirmed that the transaction was successful because I pulled the tenner from within the Kroo app, rather than sending it from the donor.
I was a bit strange that the Kroo app managed to log itself into my donor banks app to grab the tenner.

I'm not sure if you saw my update.  I sent a bank transfer at exactly 13:00 from my main bank to Kroo.  At 13:01 the £10 test payment was showing.

I sent it via a regular bank transfer rather than using the 'pull' method.

I'm not sending anymore at the moment as the interest rate is only 2%, but will send more following the increase to 3%.