The Top Easy Access Savings Discussion Area

jak22

If you see  a new post on https://forums.moneysavingexpert.com/discussion/6392978/top-easy-access-acs-ranked-top-of-the-pots-no-chat#latest then you'll know that actually there's something new - otherwise be prepared to skip though chat - usually about an email you'll get yourself later or what someone is thinking of doing or wishing their favourite bank would do - but its' only a small amount of effort to skip and I think most would admit they've done pretty well out of rate changes over the last year after reading the posts here.

Patrington

Nick_C said:

Band7 said:

Any chance people could take their discussion about Chase cashback to the Chase thread so this thread can revert to topic?

Well Chase is one of the Top Easy Access Savings Accounts.  And you have to open the current account to get access to the savings account.  The cashback and lack of foreign exchange fees are two things that make Chase stand out from the pack.

So for anyone looking for a top easy access account, these are relevant factors. 

Indeed

Didn't Colsten previously encourage people posting on the Regular Saver thread (diluting it completely) when separate threads had previously been created?

km1500

Colsten - ah, takes me back ... You'll be mentioning MChambers next ...

SickGroove

I also received the Chase email but nothing about cashback continuing BUT if you go to the Chase App & look under rewards, you'll see the new cashback offer in there

cloud_dog

CheekyMikey said:

cloud_dog said:

CheekyMikey said:

Nick_C said:

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.

Not quite the only point…it’s great for using when abroad as you get an excellent Mastercard exchange rate and no transaction fees either when using to purchase items or at ATMs, plus you get the 1% cash back on purchases too. So just before you go on holiday, pop £500 in the current account and happy days…leave your credit card at home

I don't care how much cash back is available, I never use my bank debit cards abroad.  But then I am paranoid.

I’d still use it for the favourable exchange rates and no fees, the cash back doesn’t amount to that much anyway…not much can go wrong using a debit card for an account with only £500 in it. I’d rather that was nicked than a credit card…

I should have said I use a Halifax Clarity CC for spending abroad (MasterCard exchange rate).

tg99

patpalloon said:

Thanks for replies. It's possible I didn't read the email properly, I've deleted it now 
So presumably there's nothing to stop you paying in the 500 quid each month and then withdrawing it? It just has to be from an external transfer .

“To keep earning cashback for the full 12 months, you’ll need to have an active account with us and keep to the General Account Terms and Conditions as well as deposit into your Chase account a minimum of £500 in a month as mentioned above. If we suspect you are abusing this reward you will stop earning cashback and we may close your account.”

Above is from the t and c……would hope that paying £500 straight in and out in order to qualify for cashback would not be deemed by Chase to be abusing the reward.

Rollinghome

MrPG said:

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

Is starting on April Fools' Day significant?

Not sure more complications for managing my finances is a priority. My vote would be for fewer gimmicks and just the top rate.

jak22

The 1% cashback is better than nothing but a £5000 spend gives just £50 - that's only an extra Premium Bond prize one month or buying something different in the supermarket each week. If it becomes too much of a struggle to meet their "reward" conditions it won't be that great a loss. It's the savings account rate that matters and it's been a while since they've had a top rate - has that gone up because a couple of other banks have 3% rates now? 

km1500

Monzo now has a 3% savings account 

SeriousHoax

The Financial Services Compensation Schem Is 85k

NS&I is backed by the Treasury so 100% of funds saved are safe.

Anyway who's job is it to set the bar at 85k is it the government Chancellor or the Bank of England.