The Top Easy Access Savings Discussion Area

I-LOV-MONEY

Wish Santander would hurry up !   It is the hassle of setting up a new account.  Testing it (deposit / withdrawal), transferring the money from one account to the new one.   Having done all that, a new rate will appear!

Middle_of_the_Road

I-LOV-MONEY said:

Wish Santander would hurry up !   

It's not happening!!

gt94sss2

Band7 said:

tg99 said:

Band7 said:

tg99 said:

Thks for Tandem news. I’ve had mine for a few months but not used as yet other than initial £1 in. Does it work similar to Chip with transfers in and out almost instantaneous or is it a bit longer / some payments get reviewed like with Kroo depending on size? And can payments in go via normal bank transfer rather than open banking? Thks 

Can definitely do normal Faster Payments into Tandem.

I haven't ever used Tandem for larger sums myself, so can't comment on deposits and withdrawal times. I doubt, however, it's better than Chip because Chip are lightning fast.

I have never heard anyone mention reviews of incoming payments until Kroo appeared on the scene. I would say it's unlikely that Tandem do them, especially as they only allow deposits from your own, verified, accounts. So incoming reviews would be senseless (though that doesn't stop Kroo from doing them).

Thks, I have Chip open too but again just done initial deposit and was about to start feeding some money into them but might change plan and use Tandem now given the (albeit v marginal) higher rate. Think Chip has £15k per transaction limit too so be interested to see if Tandem has something similar.

Chip has various different deposit limits, depending on the source bank. For example, Santander is £15k, and you can do several on the same day (Santander allowing.....)

Santander is now £25k/payment.

Kazza242

According to Moneyfacts:

Atom are increasing the rate on their Instant Saver from 2.52% gross (2.55% AER) to 2.91% gross ( 2.95% AER. 

https://www.atombank.co.uk/instant-saver/

@soulsaver FYI.

dgpur

Kazza242 said:

According to Moneyfacts:

Atom are increasing the rate on their Instant Saver from 2.52% gross (2.55% AER) to 2.91% gross ( 2.95% AER. 

https://www.atombank.co.uk/instant-saver/

@soulsaver FYI.

Just not good enough. Anyone not offering over 3% is already yesterday’s news. And the BoE base rate only went up yesterday! You’d think an outfit like Atom would be aware of how savvy the sort of customers who use app based banks are, and offer something better.

Kazza242

dgpur said:

Kazza242 said:

According to Moneyfacts:

Atom are increasing the rate on their Instant Saver from 2.52% gross (2.55% AER) to 2.91% gross ( 2.95% AER. 

https://www.atombank.co.uk/instant-saver/

@soulsaver FYI.

Just not good enough. Anyone not offering over 3% is already yesterday’s news. And the BoE base rate only went up yesterday! You’d think an outfit like Atom would be aware of how savvy the sort of customers who use app based banks are, and offer something better.

A lot of providers have been dragging their feet and this has been going on even after the BOE base rate rise (to 3.50%) in December 2022. 

Following the 2nd February 2023 BOE base rate increase to 4.00%, savings rates are lagging behind.  Still, let's see what happens in the savings market in the coming weeks.  

dale_cotterill

dgpur said:

Kazza242 said:

According to Moneyfacts:

Atom are increasing the rate on their Instant Saver from 2.52% gross (2.55% AER) to 2.91% gross ( 2.95% AER. 

https://www.atombank.co.uk/instant-saver/

@soulsaver FYI.

Just not good enough. Anyone not offering over 3% is already yesterday’s news. And the BoE base rate only went up yesterday! You’d think an outfit like Atom would be aware of how savvy the sort of customers who use app based banks are, and offer something better.

Savvy customers are no use to banks. They can't lend the money out if it is going to disappear a week later.

refluxer

Kazza242 said:

According to Moneyfacts:

Atom are increasing the rate on their Instant Saver from 2.52% gross (2.55% AER) to 2.91% gross ( 2.95% AER. 

https://www.atombank.co.uk/instant-saver/

@soulsaver FYI.

Now showing in the app.

jaypers

Wish Atom had broken the 3% barrier but 0.05% is neither hear nor there. What I really like about Atom is the immediate nature of their Faster Payments……just as quick as big banks. Just emptied my Investec account which was only paying 2.7% (lost patience with them now). Paid to my Bank and the payment from there to Atom was instantaneous……..got the Atom notification on my phone literally straight away that the money had landed. 

The_Green_Hornet

refluxer said:

Kazza242 said:

According to Moneyfacts:

Atom are increasing the rate on their Instant Saver from 2.52% gross (2.55% AER) to 2.91% gross ( 2.95% AER. 

https://www.atombank.co.uk/instant-saver/

@soulsaver FYI.

Now showing in the app.

Showing in my app.