The Top Easy Access Savings Discussion Area

Lindagreenacre

In the article about easy access savings accounts, it names Paragon and says that you can only make three withdrawals in the year.  We have banked with Paragon for several years and been happy with their service.  Think about dividing your money between two accounts and you then have the opportunity to make six withdrawals, if needed.  We have one in my name and one in joint names.  Simple.

gt94sss2

Monzo have launched an instant access account paying 3%

https://community.monzo.com/t/our-all-new-savings-pot-is-here/144210

patpalloon

Marcus have raised their rate from 2.5 to 2.8% - including the bonus.

Nick_C

patpalloon said:

Marcus have raised their rate from 2.5 to 2.8% - including the bonus.

To quote Martin Lewis "Earning less than 3%? Ditch and switch." 

Section62

Ford Money Flexible Saver moves to 2.9% (annual) effective today -

https://www.fordmoney.co.uk/savings-products/flexible-saver

subjecttocontract

Nick_C said:

patpalloon said:

Marcus have raised their rate from 2.5 to 2.8% - including the bonus.

To quote Martin Lewis "Earning less than 3%? Ditch and switch." 

Absolutely bonkers.
So ditch 2.8% for 3.0%
£10K would give another £20 a year
£50K another £100 a year.
I really couldn't be bothered......I'd wait until there is a higher rate to make the effort worthwhile.
I despair at Martin Lewis comments sometimes !

jaypers

subjecttocontract said:

Nick_C said:

patpalloon said:

Marcus have raised their rate from 2.5 to 2.8% - including the bonus.

To quote Martin Lewis "Earning less than 3%? Ditch and switch." 

Absolutely bonkers.
So ditch 2.8% for 3.0%
£10K would give another £20 a year
£50K another £100 a year.
I really couldn't be bothered......I'd wait until there is a higher rate to make the effort worthwhile.
I despair at Martin Lewis comments sometimes !

I understand exactly where you are coming from but I disagree. It takes very little effort to move money around. For me, I’ve started to draw the line at opening any more accounts as I have a lot……some with 1p in. I suspect the majority of people just stick with 1 institution and these are the people who would be happy with Marcus’s increase today. For most of us on here, we tend to move cash around.

2010

patpalloon said:

Marcus have raised their rate from 2.5 to 2.8% - including the bonus.

I was that fed up waiting for Marcus that I moved the lot yesterday.
2.8% is hardly competing when 3% plus is available.

SonOfPearl

Tesco Bank Internet Saver now pays 2.9% (0.7% standard rate plus 2.2% bonus for 1 year). 

https://www.tescobank.com/savings/flexible/internet-saver/

flobbalobbalob

I moved my stuff out of Marcus ages ago and now I am not better off by £20 or £100 but by 0.2% - it all depends how much you had in it.