The Top Easy Access Savings Discussion Area

chris_the_bee

Text received from Shawbrook increasing EA rate from 3.01%  to 3.06% WEF 16th February.

TiVo_Lad

Seems to suggest that money is starting to move again and these financial institutions are feeling the need to increase rates marginally to try and stem the flow, but don't want to be the leader of the pack.

jak22

Looking further forward, in case EA rates peak and begin to fall, then EA accounts that are largely a 12 month bonus - currently 2.2% - plus a small base like 0.7% for Tesco and 0.8% for Post Office might be worth adding to the list. Thinking back to the last time rates fell the base might drop to 0.1% but that bonus would still be a useful floor - for when EA is preferable to a fix.

MrPG

New Chase offer on cashback. Just received this email. Looks like they want to keep business.

Good news – your new cashback offer is coming soon! With monthly cashback, you'll be able to be rewarded for your everyday debit card spending for up to 12 more months1. While we get monthly cashback ready, we're going to keep giving you 1% cashback2 on your everyday debit card spending with your current offer until 00:00 on 1 April 2023. And that's not all... Starting in April, you'll earn 1% AER interest3 on all your current account balances. It's another way for you to get more from your money – as part of our promise of rewarding banking. We'll let you know when it's ready. How monthly cashback will work ·     From 1 March 2023, pay in £500 to your Chase current account each month to qualify (excludes internal transfers) ·     Then the next month, you'll be able to earn 1% cashback – up to £15 – on your everyday debit card spending ·     Qualify each month to earn cashback the next month, for up to 12 months

jak22

1% interest on the current is handy but maybe we can just txfer £500 out and back in to the current once a month to trigger the cashback which is pretty instant.

soulsaver

Bridlington1 said:

According to moneyfacts Principality's online double access issue 2 account will pay 2.95%.

I like  Principality, has some good accounts, but 2.95% won't make the ToTP after the cull tomorrow.

RedImp_2

My plan previously was to top up Chase current a/c from Chase Savings to have just enough to cover what I expect to spend in current day ( I have been known to increase balance at the till if I’ve underestimated!) but will have to be a bit more creative now

Nick_C

jak22 said:

1% interest on the current is handy but maybe we can just txfer £500 out and back in to the current once a month to trigger the cashback which is pretty instant.

From an external account, yes.  From Chase Savings, no.

The 1% on the current account is of little benefit to me.  The only time I have money in Chase Current is to cover debit card transactions.  There is rarely a positive balance at the end of the day.

Chase Savings is brilliant in allowing multiple scheduled faster payments, SOs and DDs.  The only point of using the Current Account is for the cashback on the debit card.

SirHugo

patpalloon said:

I opened the Investec 90 day saver. I know it's not easy access, but if you can live with the 90 day notice period - you get 3.5% interest paid monthly. The suits me as right now I want the best regular monthly interest and can afford to keep some capital locked away for a short time. I already had a Easy Access account so opening this one was easy peasy. This seems like the best of both worlds.

Thanks, I didn't know about this but it looks good to me and I also still have my Easy Access account. Funnily enough I was checking out the details and literally just received an email from Investec about it. 

Been using the Zopa 95 day pots (ladder system) but will start moving to this Investec 90 day saver now.

ranciduk

chris_the_bee said:

Text received from Shawbrook increasing EA rate from 3.01%  to 3.06% WEF 16th February.

Yep didn’t need to send a secure message this time - they just did it automatically and sent text