The Top Easy Access Savings Discussion Area

phillw

Bridlington1 said:
If it's any consolation they already hate me.

If they actually hate you, then they'll do a full audit of you in a couple of years time. That'll be fun.

pecunianonolet

Bridlington1 said:

If it's any consolation they already hate me. I'm the one who claims 25p tax back from HMRC every month because the Co-op reward account pays the £1 monthly reward "net" rather than gross. I have set HMRC to paper so receive the refund by cheque.

You made me think, need to check TSB and the £5 reward they pay each month How do you claim, self assessment? Usually try to stay away from them flying under the radar is always better than being on theirs. 

Bridlington1

pecunianonolet said:

Bridlington1 said:

If it's any consolation they already hate me. I'm the one who claims 25p tax back from HMRC every month because the Co-op reward account pays the £1 monthly reward "net" rather than gross. I have set HMRC to paper so receive the refund by cheque.

You made me think, need to check TSB and the £5 reward they pay each month How do you claim, self assessment? Usually try to stay away from them flying under the radar is always better than being on theirs. 

TSB is classed as cashback so is non-taxable anyway.

pecunianonolet

Bridlington1 said:

pecunianonolet said:

Bridlington1 said:

If it's any consolation they already hate me. I'm the one who claims 25p tax back from HMRC every month because the Co-op reward account pays the £1 monthly reward "net" rather than gross. I have set HMRC to paper so receive the refund by cheque.

You made me think, need to check TSB and the £5 reward they pay each month How do you claim, self assessment? Usually try to stay away from them flying under the radar is always better than being on theirs. 

TSB is classed as cashback so is non-taxable anyway.

Rewards, bonus, cashback, profit vs. interest are used rather interchangeable by most but the terms have very different underlying legal propositions, especially in tax law. 

ircE

Sorry if they've already been mentioned, but I haven't seen them in @soulsaver's thread yet:

Bucks BS Triple Access Saver @ 3.05% £100-500k

Harpenden BS Triple Access Saver @ 3.00% £100-£250k

km1500

Bridlington1 said:

pecunianonolet said:

Bridlington1 said:

pecunianonolet said:

Bridlington1 said:

I usually have money in a few EA accounts at any one time. I currently have a welcome to Newbury account at 3.15%. In a fortnight that account will rise to 3.3%. I have 2 Coventry 6 access savers at 3.25% (both NLA) plus the YBS rainy day account at 3.35%. 

Thus I have all of my EA savings (excluding a load of accounts with minimum balances) at 3.15% or above. When Newbury's rate increases my lowest paying EA savings will be in Coventry at 3.25%. 

How did you manage to open 2 Coventry 6 access savers? Thought it was limited to 1 per person?

If my memory serves me well I opened issue 6 in December. When that became NLA they launched issue 7 at the lower interest rate of 2.85%, which I opened with £1. They have since raised the rate on issue 7 to match issue 6 so that I have both issues paying 3.25% (though I'm only using issue 6 at the moment).

alternate said:

Coventry usually let you open 2 of every issue (not sure why you would want two) as they count annual interest and monthly interest options as two separate accounts.

Thanks both, looks like I missed out. Got issue 6 and with all the Christmas hustle and travel we missed to open the same for the OH and instead got the issue 7 before they took that one down and funded it with £1 until today. I have started to follow the same principle opening accounts and just stick £1 in them as they might be competitive or at least offer loyalty options next year. My spreadsheet is growing with a tab for each institution. 

HMRC is going to hate me when they get many reports next year of only pennies of interest with many accounts. Going to lead me to a couple of questions in that regard but I better open yet another PSA/Tax thread....

If it's any consolation they already hate me. I'm the one who claims 25p tax back from HMRC every month because the Co-op reward account pays the £1 monthly reward "net" rather than gross. I have set HMRC to paper so receive the refund by cheque.

posts like this make me dispair of humanity.

gt94sss2

Bridlington1 said:

pecunianonolet said:

Bridlington1 said:

pecunianonolet said:

Bridlington1 said:

I usually have money in a few EA accounts at any one time. I currently have a welcome to Newbury account at 3.15%. In a fortnight that account will rise to 3.3%. I have 2 Coventry 6 access savers at 3.25% (both NLA) plus the YBS rainy day account at 3.35%. 

Thus I have all of my EA savings (excluding a load of accounts with minimum balances) at 3.15% or above. When Newbury's rate increases my lowest paying EA savings will be in Coventry at 3.25%. 

How did you manage to open 2 Coventry 6 access savers? Thought it was limited to 1 per person?

If my memory serves me well I opened issue 6 in December. When that became NLA they launched issue 7 at the lower interest rate of 2.85%, which I opened with £1. They have since raised the rate on issue 7 to match issue 6 so that I have both issues paying 3.25% (though I'm only using issue 6 at the moment).

alternate said:

Coventry usually let you open 2 of every issue (not sure why you would want two) as they count annual interest and monthly interest options as two separate accounts.

Thanks both, looks like I missed out. Got issue 6 and with all the Christmas hustle and travel we missed to open the same for the OH and instead got the issue 7 before they took that one down and funded it with £1 until today. I have started to follow the same principle opening accounts and just stick £1 in them as they might be competitive or at least offer loyalty options next year. My spreadsheet is growing with a tab for each institution. 

HMRC is going to hate me when they get many reports next year of only pennies of interest with many accounts. Going to lead me to a couple of questions in that regard but I better open yet another PSA/Tax thread....

If it's any consolation they already hate me. I'm the one who claims 25p tax back from HMRC every month because the Co-op reward account pays the £1 monthly reward "net" rather than gross. I have set HMRC to paper so receive the refund by cheque.

Can you not just submit one claim after the end of the tax year?

pecunianonolet

gt94sss2 said:

Bridlington1 said:

pecunianonolet said:

Bridlington1 said:

pecunianonolet said:

Bridlington1 said:

I usually have money in a few EA accounts at any one time. I currently have a welcome to Newbury account at 3.15%. In a fortnight that account will rise to 3.3%. I have 2 Coventry 6 access savers at 3.25% (both NLA) plus the YBS rainy day account at 3.35%. 

Thus I have all of my EA savings (excluding a load of accounts with minimum balances) at 3.15% or above. When Newbury's rate increases my lowest paying EA savings will be in Coventry at 3.25%. 

How did you manage to open 2 Coventry 6 access savers? Thought it was limited to 1 per person?

If my memory serves me well I opened issue 6 in December. When that became NLA they launched issue 7 at the lower interest rate of 2.85%, which I opened with £1. They have since raised the rate on issue 7 to match issue 6 so that I have both issues paying 3.25% (though I'm only using issue 6 at the moment).

alternate said:

Coventry usually let you open 2 of every issue (not sure why you would want two) as they count annual interest and monthly interest options as two separate accounts.

Thanks both, looks like I missed out. Got issue 6 and with all the Christmas hustle and travel we missed to open the same for the OH and instead got the issue 7 before they took that one down and funded it with £1 until today. I have started to follow the same principle opening accounts and just stick £1 in them as they might be competitive or at least offer loyalty options next year. My spreadsheet is growing with a tab for each institution. 

HMRC is going to hate me when they get many reports next year of only pennies of interest with many accounts. Going to lead me to a couple of questions in that regard but I better open yet another PSA/Tax thread....

If it's any consolation they already hate me. I'm the one who claims 25p tax back from HMRC every month because the Co-op reward account pays the £1 monthly reward "net" rather than gross. I have set HMRC to paper so receive the refund by cheque.

Can you not just submit one claim after the end of the tax year?

That's 25p a month earning the following month 

Kazza242

According to Moneyfacts, Coventry Building Society have launched Limited Access Saver Online (issue 8), paying 3.10%.

It allows 6 penalty-free withdrawals per account year.  Minimum opening amount is £1.  Maximum investment £250,000.

Monthly or yearly interest options available.

https://www.coventrybuildingsociety.co.uk/member/product/savings/limited_access/limited-access-saver-online-8.html

patpalloon

jaypers said:

devansuk said:

Bridlington1 said:

Section62 said:

Ford Money Flexible Saver finally inches across the 3% barrier... effective today.

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

Too little too late so far as I'm concerned. I've got all my easy access savings at 3.15% (soon to be 3.25%) and above now so they won't be getting any of my cash unless they go higher.

Hi , Please can you tell me which easy access account will be offering 3.25% 

Thankyou

Top you’re going to get as a new customer is 3.15% from Chip. Lots of people like them but I wouldn’t touch them as don’t like the Open Banking concept. 

I’ve just got 3.2% with Charter but that’s only on previous issues for existing customers. 

Can you explain the open banking concept please? I was thinking about Chip.