The Top Easy Access Savings Discussion Area

Stargunner

pearl123 said:

subjecttocontract said:

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 !

For some, people £20 could make a difference.  For a single person, it could be a weeks food. 

£20 extra over a year is not likely to make any difference to someone that has at least £10000 in cash savings, which is what they would need to have to get it 

UncleK

SonOfPearl said:

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/

Have to say I've given up on Tesco, having to open up a new account every time to get the better rate, with then tiny amounts left in the old accounts you have to ring them to close those accounts - just too much faff. Told them that when closed the accounts - presumably went in one ear and out the other........

poppystar

RobinhoodSavings said:

Coventry increasing all limited access saver online issues to 3.25% in line with the issue 6. Four access saver and regular savers will remain unchanged. 1 March 2023 

Real shame limited access no longer available - will need to move money out somewhere else now. I’d been holding on in hope it would return, even new rates on easy access no longer competitive. 

oz0707

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 !

Yeh I agree with this sentiment. I would have to open the account, move it all across to my current account then move it out in 20k or 25k per day to new account.

subjecttocontract

pearl123 said:

subjecttocontract said:

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 !

For some, people £20 could make a difference.  For a single person, it could be a weeks food. 

Yes......and they would have to wait a year to get that £20. BUT as we all know, someone else will be along shortly who is likely to persuade you to move the money yet again. Your money could be in the 3% account for, say, 3 months......so all that effort for £5......I don't think so.

Yellowman

Look after the pennies and the pounds will look after themselves.

Thanks Grandma.

Band7

subjecttocontract said:

pearl123 said:

subjecttocontract said:

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 !

For some, people £20 could make a difference.  For a single person, it could be a weeks food. 

Yes......and they would have to wait a year to get that £20. BUT as we all know, someone else will be along shortly who is likely to persuade you to move the money yet again. Your money could be in the 3% account for, say, 3 months......so all that effort for £5......I don't think so.

Not sure what "all that effort" is, or why we see dismissive comments about people who choose to move their money, or about people who choose to recommend moving money. 

Middle_of_the_Road

Band7 said:

subjecttocontract said:

pearl123 said:

subjecttocontract said:

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 !

For some, people £20 could make a difference.  For a single person, it could be a weeks food. 

Yes......and they would have to wait a year to get that £20. BUT as we all know, someone else will be along shortly who is likely to persuade you to move the money yet again. Your money could be in the 3% account for, say, 3 months......so all that effort for £5......I don't think so.

Not sure what "all that effort" is, or why we see dismissive comments about people who choose to move their money, or about people who choose to recommend moving money. 

Agreed, for a few minutes "work" why not make some extra returns on savings. 
Any extra money is good money    

mebu60

oz0707 said:

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 !

Yeh I agree with this sentiment. I would have to open the account, move it all across to my current account then move it out in 20k or 25k per day to new account.

Have you tried doing more than one transaction? Most allow £100k per day in multiples not exceeding their individual limit. I always do different amounts for each transaction e.g. 19k & 21k rather than 2 x 20k, just in case there's an issue with one as would make it easier to identify which one. 

Stargunner

Middle_of_the_Road said:

Band7 said:

subjecttocontract said:

pearl123 said:

subjecttocontract said:

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 !

For some, people £20 could make a difference.  For a single person, it could be a weeks food. 

Yes......and they would have to wait a year to get that £20. BUT as we all know, someone else will be along shortly who is likely to persuade you to move the money yet again. Your money could be in the 3% account for, say, 3 months......so all that effort for £5......I don't think so.

Not sure what "all that effort" is, or why we see dismissive comments about people who choose to move their money, or about people who choose to recommend moving money. 

Agreed, for a few minutes "work" why not make some extra returns on savings. 
Any extra money is good money 

I disagree. It takes a lot longer than a few mins to open up a new savings account. More passwords and log ins to maintain, possibly more junk mail through the door that you don’t need. More payees to set up on your bank app snd then transferring the money over. For an extra 0.1 or 0.2%, which after tax would be very little, I wouldn’t even bother.