The Top Easy Access Savings Discussion Area

Band7

ColdIron said:

Band7 said:

flaneurs_lobster said:

Band7 said:

AmityNeon said:

Patrington said:

AmityNeon said:

Patrington said:

AmityNeon said:'

For Kroo to pop up out of seemingly nowhere (comparatively) and offer the highest interest rate for unlimited instant access since 2012, and on a current account no less...

Where have you read this?

I didn't. This evening's Martin Lewis Money Show (timestamp 09:32) was all about savings and interest rates.

"That's actually the best, open to all, easy access savings with unlimited withdrawals we've seen since 2012."

He's mistaken

Feel free to personally correct him on Twitter. I'm sure he'll advise his researchers not to feed him misinformation next time.

He wasn't fed with misinformation. The last time a 3% current account, open to all, with interest on up to £85k was announced was in 2012.

Out of interest (!) what was that 2012 current account? 

The original 123 full fat.

Fond memories.

Wasn't that £20,000? Mine was in Feb 2013

Yes, but any number of them, originally. I had 4. They later limited it to 1, IIRC, for new applicants. Existing ones could be kept but obviously became useless once they dropped the interest rate.

rallycurve

ranciduk said:

Speaking of TSB

today they increased their savings pots by 1% - now at 2.52%

Thanks for this! 

Am I right in thinking that this does not apply automatically to current pots and they need "renewing" to get the new rate?

mebu60

Kazza242 said:

According to Moneyfacts, Sainsbury's Bank are launching Defined Access Saver (issue 38), which will pay 2.92%.

The interest rates are tiered:
2.92% on £1,000 - £500,000
1.05% £1 - £9,999
0.90% on £500,001 and above.

It allows 3 penalty-free withdrawals per year.

The minimum opening deposit is £1.

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

@soulsaver FYI (once the link is live)

They've only just had issue 37 at 2.87%. More paper and postage for them as folks migrate again. A few more days' interest on to the capital and another 0.05%. 

ranciduk

rallycurve said:

ranciduk said:

Speaking of TSB

today they increased their savings pots by 1% - now at 2.52%

Thanks for this! 

Am I right in thinking that this does not apply automatically to current pots and they need "renewing" to get the new rate?

It doesn’t automatically update the current pots

i emptied my old ones, then closed them down (took seconds) - then opened two new ones (Again, took seconds!)

pecunianonolet

infoadict said:

pecunianonolet said:

How long did people wait for Kroo approval?

Took me 7 hours yesterday. Applied approx 11:00 and didn't receive approval until just after 18:00.

Applied at 1:30am this morning, nothing since so they must have been flooded. Given the amount of open vacancies they have it looks like they will swim in new money  and applications now. 

AmityNeon

Patrington said:

Band7 said:

AmityNeon said:

Patrington said:

AmityNeon said:

Patrington said:

AmityNeon said:'

For Kroo to pop up out of seemingly nowhere (comparatively) and offer the highest interest rate for unlimited instant access since 2012, and on a current account no less...

Where have you read this?

I didn't. This evening's Martin Lewis Money Show (timestamp 09:32) was all about savings and interest rates.

"That's actually the best, open to all, easy access savings with unlimited withdrawals we've seen since 2012."

He's mistaken

Feel free to personally correct him on Twitter. I'm sure he'll advise his researchers not to feed him misinformation next time.

He wasn't fed with misinformation. The last time a 3% current account, open to all, with interest on up to £85k was announced was in 2012.

Exactly right Colsten.
I'm glad you've added the salient bit for accuracy.
'Current account'

And you didn't bother to emphasise my mentioning of "current account" in your original quotation of mine because...?

Martin Lewis just stated "easy access savings" (not a 'savings account' per se); savings can be held in any type of account, and current accounts by their very nature are easy access.

Has there been another account (of any type) since 2012, without access restrictions or deposit limitations, offering higher than 3.03% AER? You must have one in mind, otherwise you wouldn't have initially asked where I read about the aforementioned claim.

rinnin

dgpur said:

Surely Zopa - 2.86% to 3.26%

Just wondering how people find Zopa?
Setup an account with them & tried doing a test transfer of £2 to it. Took about 2hours! 
Doesn't fill me with confidence when it comes to withdrawing.
Thanks

MDMD

AmityNeon said:

I was, and am, genuinely curious if there has been an account offering unlimited easy access since 2012 (better than 3.03% AER), that wasn't full fat S123. I figured it was perhaps a rate increase on a withdrawn/loyalty account and/or from a niche building society.

According to page 200 of this very thread there was some chat about a Santander esaver issue 5 paying 3.2%

https://forums.moneysavingexpert.com/discussion/596724/the-top-easy-access-savings-discussion-area/p200

this is confirmed here:

https://www.thisismoney.co.uk/money/saving/article-2158774/Santander-best-buy-easy-access-savings-offers-3-2-rate.html

twadds123

rinnin said:

dgpur said:

Surely Zopa - 2.86% to 3.26%

Just wondering how people find Zopa?
Setup an account with them & tried doing a test transfer of £2 to it. Took about 2hours! 
Doesn't fill me with confidence when it comes to withdrawing.
Thanks

just had a couple of withdrawls from zopa, in the accounts within 10 minutes

flobbalobbalob

rinnin said:
Just wondering how people find Zopa?

Setup an account with them & tried doing a test transfer of £2 to it. Took about 2hours! 

It's never instant and always about 15-20 minutes for me