The Top Easy Access Savings Discussion Area

Frogletina

I'm on an android phone, but have little accessible money to move as most of what I have is in Chase waiting for 1st March when it feeds into my regular savers. 

I did transfer £4.50 into Zopa and have transferred that into 2 boosted pots without a problem. 

I wonder how long that will last though. My plans have begun to unravel.

NameWithheld

I just did a ladder transfer this morning. No problem. Android phone.

SanguineOnSaturn

It is with the app update. Was still working without the update.

oz0707

Futuristic said:

mikael said:

Futuristic said:

I see a lot of people here who have up to FSCS amount, I tried to search but has anyone applied for this and got it easily? Private Savings Account | Savings | Private Banking | Virgin Money UK

It gives rate based on BoE -0.25%. 

You would need to get the private account which costs £25/mo but with this rate it would be worth it? (https://uk.virginmoney.com/private/)

I have got this account as I expect the BOE will increase rates a bit more and banks now seem to be holding back on increasing savings rates, especially instant access accounts. The £25 monthly fee is partly offset by the inclusive worldwide family travel insurance.

If someone has over 500k the account pays the BOE base rate. I think it is worth it if you have larger sums and want instant access whilst still getting a very competitive rate.

It's quite nice "private bank" offering compared to others but unfortunately I wouldn't trust Virgin Money (aka Clydesdale) with such a large sum. Very few banks I would risk over the FSCS (Chase & HSBC for example). 

Even if the chance of going bust is tiny what about the 'opt in' scenario or whatever it's called. Ill stick to 85k

phillw

oz0707 said:
Even if the chance of going bust is tiny what about the 'opt in' scenario or whatever it's called. Ill stick to 85k

Bail in offers at least 85k, up to the full balance. It works by giving the shares to the commercial creditors to cover the debts. It will be interesting to see how one plays out.

SeriousHoax

Marcus still not playing ball.

My £1 is still looking lonely at 2.80%

Zerforax

Guess I'm moving all the money back to Zopa since 3.07% is better than the 3% offered by Chase..

wiseonesomeofthetime

Zerforax said:

Guess I'm moving all the money back to Zopa since 3.07% is better than the 3% offered by Chase..

For 70p per £1k per year, I cba tbh.

Plus I like each pot/account having its own sort code/account number for ease of deposit, and ability to attach SO, DD and scheduled payments, all of which Zopa cannot do. 

Don't get me wrong. I will still be using Zopa, just not switching my Chase funds to it

ChewyyBacca

razord said:

jaypers said:

Hahaha…..everyone who has moved their money out of Zopa will be posting on here about moving back and setting up ladders again :-)

Except not! Looks like today’s update (on iOS at least) has disabled moving money to pots where you’ve given notice. The laddering appears to be over!

Hi All,
Can someone please explain the process of laddering here? New to Zopa, im thinking of opening account, 3.47% is mighty lucrative
reading posts here, I gather that laddering was allowed before but not anymore.

PloughmansLunch

ChewyyBacca said:

razord said:

jaypers said:

Hahaha…..everyone who has moved their money out of Zopa will be posting on here about moving back and setting up ladders again :-)

Except not! Looks like today’s update (on iOS at least) has disabled moving money to pots where you’ve given notice. The laddering appears to be over!

Hi All,
Can someone please explain the process of laddering here? New to Zopa, im thinking of opening account, 3.47% is mighty lucrative
reading posts here, I gather that laddering was allowed before but not anymore.

I found the clearest explanation by @AmityNeon here