The Top Easy Access Savings Discussion Area

25_Years_On

km1500 said:

Comes to something when NS&I easy access (DS) are better than Marcus

Not really. Marcus as a USA entity is finished and has been a failure for Goldman Sachs who are busy making cuts. They don't want anymore loss making money. I think they are only where they are because of the tie with Saga. I would imagine Saga will be looking to jump ship and after that they can close down.

flobbalobbalob

Do premium bonds count as easy access? They are looking more attactive at 3.15% and tax free.

km1500

Yes you can cash them instantly into a direct saver account

From there it is easy access to linked current account

Bridlington1

flobbalobbalob said:

Do premium bonds count as easy access? They are looking more attactive at 3.15% and tax free.

Hardly easy access it takes ages to redeem. Plus the 3.15% is not guaranteed. PBs are more like a lottery than an easy access savings account.

ColdIron

If you instructed NS&I today before 8:00 PM they'd be in your account on Wednesday

Band7

Bridlington1 said:

flobbalobbalob said:

Do premium bonds count as easy access? They are looking more attactive at 3.15% and tax free.

Hardly easy access it takes ages to redeem. 

If you time it right, you can have the money within 15-16 hours.....

1. after 22:30 on a day which is followed by a working day, transfer from PBs to Direct Saver. This is supposed to happen instantly
   
   
2. then request the withdrawal. It should be in your (previously) linked current account by around 14:00 the following day.

Bridlington1 said:

Plus the 3.15% is not guaranteed. 

Agree, many won't get anything like 3.15%. Though even at a more moderate 2.5%, it would be the equivalent of over 4% for HR tax payers

Bridlington1

km1500 said:

Yes you can cash them instantly into a direct saver account

From there it is easy access to linked current account

I never knew you could could cash them instantly into a direct saver. I always thought you had to wait for the next draw to cash them in.

Either way I would still class them as a separate entity to easy access accounts as the interest rate is not guaranteed so is difficult to compare to other EA savings accounts rate wise. Moreover as they are tax free I would consider them more like a form of ISA than a standard EA account if I had to put them in a box.

BooJewels

When you cash PBs in, you are given the option to either cash them straight away, or after the next draw.

35har1old

Bridlington1 said:

flobbalobbalob said:

Do premium bonds count as easy access? They are looking more attactive at 3.15% and tax free.

Hardly easy access it takes ages to redeem. Plus the 3.15% is not guaranteed. PBs are more like a lottery than an easy access savings account.

Not quite a lottery you don't say goodbye to you stake.

Bridlington1

35har1old said:

Bridlington1 said:

flobbalobbalob said:

Do premium bonds count as easy access? They are looking more attactive at 3.15% and tax free.

Hardly easy access it takes ages to redeem. Plus the 3.15% is not guaranteed. PBs are more like a lottery than an easy access savings account.

Not quite a lottery you don't say goodbye to you stake.

I never said they were a lottery but that they are similar to a lottery and more lottery-like than an easy access savings account. They are like a lottery in which you can cash in your stake then.