The Top Easy Access Savings Discussion Area

SanguineOnSaturn

Won't it be kroo @3.03 from 1st Feb?

Bridlington1

RG2015 said:

Am I correct in saying that the Zopa easy access account has the highest unrestricted interest rate at 2.86% AER / 2.82% gross?

I am excluding Aldermore, Shawbrook, Monmouth, Sainsbury's, Cynergy, Yorkshire BS and Chip as each has some sort of restriction along with the Virgin Money 3.00% ISA.

Cynergy is now unrestricted too at 2.9%, though 0.15% of it is a fixed bonus for 12 months.

RG2015

k_man said:

RG2015 said:

Am I correct in saying that the Zopa easy access account has the highest unrestricted interest rate at 2.86% AER / 2.82% gross?

I am excluding Aldermore, Shawbrook, Monmouth, Sainsbury's, Cynergy, Yorkshire BS and Chip as each has some sort of restriction along with the Virgin Money 3.00% ISA.

What is the restriction on Cynergy?

Okay, that's tenuous as I viewed the 1 year bonus as a restriction. In practice, this is really not a restriction.

2.90% at Cynergy is currently the leading unrestricted EA savings account. 

RG2015

I was going by Moneyfacts (current) and haven't been following the Kroo discussions

typistretired

Only been a lurker lately on here as my phone ping ping pings but very grateful for all the forum members who keep us up-to-date with new higher interest rates as no longer have the time to search

sibby_cash

Has anyone opened a Shawbrook EA account recently? They are asking me to provide proof of income. I can’t see how that is relevant for a savings account. Im probably going to decline but just wondering if it’s usual. 

SanguineOnSaturn

RG2015 said:

I was going by Moneyfacts (current) and haven't been following the Kroo discussions

kroo is a curent account with a bank card. App based. Folks have been having some issues signing up with the app as it was laggy. FSCS protected. Mine is up and running and I got the bank card within a day or two. Money in and out seems pretty quick. A better option than chase for feeding regular savers and not limited to  nominated accounts for money in and out like zopa.

Band7

RG2015 said:

k_man said:

RG2015 said:

Am I correct in saying that the Zopa easy access account has the highest unrestricted interest rate at 2.86% AER / 2.82% gross?

I am excluding Aldermore, Shawbrook, Monmouth, Sainsbury's, Cynergy, Yorkshire BS and Chip as each has some sort of restriction along with the Virgin Money 3.00% ISA.

What is the restriction on Cynergy?

Okay, that's tenuous as I viewed the 1 year bonus as a restriction. In practice, this is really not a restriction.

2.90% at Cynergy is currently the leading unrestricted EA savings account. 

I have both, Cynergy and CHIP (alongside Kroo and many others). My preference is without doubt CHIP because of the true instant nature of deposits and withdrawals, and general ease of use. The drawback with the CHIP bonus is easy to overcome, and will be history in a couple of weeks, anyway. Cynergy can't match the CHIP functionality IMO. I appreciate that those who insist on online banking will disagree. Such is life.

Next Wednesday I will also shift some of my instant access funds from CHIP into Kroo, as I like to spread my risks. It's got a £10k daily withdrawal limit, though, so not quite as flexible as CHIP, where the limit is your balance. Again, Kroo is not an option for those who insist on online banking.

BigBlueSky

Band7 said:

Next Wednesday I will also shift some of my instant access funds from CHIP into Kroo, as I like to spread my risks. It's got a £10k daily withdrawal limit, though, so not quite as flexible as CHIP, where the limit is your balance. Again, Kroo is not an option for those who insist on online banking.

It does say in the app £10,000, but says - Payments between £10,000 and £250,000 will be reviewed by Kroo before approval.  So not entirely sure if there is a £10,000 limit, more of a £10,000 limit on instant.  Not sure how long it will take for payments over £10,000 to be 'reviewed'.

Band7

BigBlueSky said:

Band7 said:

Next Wednesday I will also shift some of my instant access funds from CHIP into Kroo, as I like to spread my risks. It's got a £10k daily withdrawal limit, though, so not quite as flexible as CHIP, where the limit is your balance. Again, Kroo is not an option for those who insist on online banking.

It does say in the app £10,000, but says - Payments between £10,000 and £250,000 will be reviewed by Kroo before approval.  So not entirely sure if there is a £10,000 limit, more of a £10,000 limit on instant.  Not sure how long it will take for payments over £10,000 to be 'reviewed'.

With CHIP, I just withdraw, say, £45k and 10 seconds later it is in my current account.