The Top Easy Access Savings Discussion Area

Hattie627

Chip now paying 3.05% AER on up to £250K. Proper compounding interest, accruing daily, paid monthly.

soulsaver

Hattie627 said:

Chip now paying 3.05% AER on up to £250K. Proper compounding interest, accruing daily, paid monthly.

Their web not updated to say that - 3.00% Instant Access Savings Account | Chip (getchip.uk)
Scroll down to the 'Got a question' section then 'see how returns work'. 

janusdesign

does anyone know is Al Rayan process withdrawals over the weekend ? e.g if I make a withdrawal now, would it appear same day, or regardless would it not arrive on Monday ??

their 2.81% is looking more pitiful than even Zopa at the moment!

soulsaver

janusdesign said:

does anyone know is Al Rayan process withdrawals over the weekend ? e.g if I make a withdrawal now, would it appear same day, or regardless would it not arrive on Monday ??

their 2.81% is looking more pitiful than even Zopa at the moment!

Close of play Monday is probable - but they're there usually, now, Saturday am for a call..

janusdesign

soulsaver said:

janusdesign said:

does anyone know is Al Rayan process withdrawals over the weekend ? e.g if I make a withdrawal now, would it appear same day, or regardless would it not arrive on Monday ??

their 2.81% is looking more pitiful than even Zopa at the moment!

Close of play Monday is probable - but they're there usually, now, Saturday am for a call..

thanks @soulsaver that's what I suspected - it's not urgent, so i'll leave it until Monday morning.

flaneurs_lobster

soulsaver said:

Hattie627 said:

Chip now paying 3.05% AER on up to £250K. Proper compounding interest, accruing daily, paid monthly.

Their web not updated to say that - 3.00% Instant Access Savings Account | Chip (getchip.uk)
Scroll down to the 'Got a question' section then 'see how returns work'. 

Email received from Chip confirming change to T&C (proper interest) is effective today. The T&C from 11/02 are also on the website. The app reflects the change too.

They have also added "bonus" owing from last standard bonus pay day to-date. You could now withdraw all funds (bonus bit will take a day) and redeposit under the new terms. 

k_man

soulsaver said:

Hattie627 said:

Chip now paying 3.05% AER on up to £250K. Proper compounding interest, accruing daily, paid monthly.

Their web not updated to say that - 3.00% Instant Access Savings Account | Chip (getchip.uk)
Scroll down to the 'Got a question' section then 'see how returns work'. 

Updated on website now (ETA: for AER interest rate at least):

Chip Instant Access Account

A new savings account from Chip built to move with the Bank of England and reward you faster than the banks. FSCS eligible on your deposits.

Earn a 3.05% AER (variable) paid monthly.

Deposit and withdraw almost instantly.

Get started with deposits as little as £1, up to £250,000.

ETA/correction:

Ah, just checked and FAQ still refers to bonus...

Mr_blibby

Band7 said:

wiseonesomeofthetime said:

Bridlington1 said:

Zaul22 said:

Come on guys, a few more posts about Zopa and they will go up. Money nerd power!

Alternatively we could empty all our Zopa accounts (mine's been at £1 for months) then give them the silent treatment.

My Primary account has sat at £0.00 for months. 

Mainly because I set up the ladder system months ago, so have been getting their top rate since December. Should I need to use the emergency fund, I can access it to pay any credit card, used for said emergency, IN FULL 😁

Zopa are very clever. Seems they have satisfied their borrowing requirements for now with the notice accounts people have. As and if they have a borrowing requirement again, they will react with appropriate interest rate offers. No different, really, to any other lender. They aren't in some sort of a best rate parade, they just aim to attract as much money as they need to fund their borrowing needs.

Clever or not, they have until COB on Monday other our 2 Zopas will be departing for Chase's 3%...

Band7

Mr_blibby said:

Band7 said:

wiseonesomeofthetime said:

Bridlington1 said:

Zaul22 said:

Come on guys, a few more posts about Zopa and they will go up. Money nerd power!

Alternatively we could empty all our Zopa accounts (mine's been at £1 for months) then give them the silent treatment.

My Primary account has sat at £0.00 for months. 

Mainly because I set up the ladder system months ago, so have been getting their top rate since December. Should I need to use the emergency fund, I can access it to pay any credit card, used for said emergency, IN FULL 😁

Zopa are very clever. Seems they have satisfied their borrowing requirements for now with the notice accounts people have. As and if they have a borrowing requirement again, they will react with appropriate interest rate offers. No different, really, to any other lender. They aren't in some sort of a best rate parade, they just aim to attract as much money as they need to fund their borrowing needs.

Clever or not, they have until COB on Monday other our 2 Zopas will be departing for Chase's 3%...

They'll no doubt act immediately to keep you from leaving.....not. Why wait until Monday? 

cloud_dog

Expotter said:

fourmarks said:

fourmarks said:

Qyburn said:

I used their online secure message to get our account upgraded each time. It was done within 24 hours.

Sainsbury's is a pain, you need to open a new account to get each new rate, and manually transfer the balance.

This may be a world record. I sent a secure message to Shawbrook this morning asking them to 'upgrade' my account from 32 to 33.  Before I logged out I got a message in return saying that the account had been changed as requested. Can't fault them for speed! Other institutions may have left it in the in tray until Monday.

I have just made the identical request to Paragon asking for Issue 10 to become Issue 11.  I await their response.

There's no need to message Paragon. I just logged in, opened Issue 11and funded it with a full transfer from previous Issue account. All done instantly, previous Issue closed, new one opened and funded.

Might you lose a days interest in doing it this way?  Obviously if there is only a small amount then nothing much to worry about TBH, but just curious.