The Top Easy Access Savings Discussion Area

doodlector

flaneurs_lobster said:

grumbler said:

flaneurs_lobster said:

I'm missing the point somewhat about this Tandem Top Up having to be activated by the account holder.

Are there any circumstances where someone would not want to activate this? Why make it optional? It's a change to the terms so notice has to be given anyway so just do it.

 For Tandem it's no-lose situation.

I don't agree, it makes Tandem look like a cheap, underhand brand. Why try to make it "difficult" for your existing customers to enjoy your best rates? Certainly doesn't make me more likely to want to be a customer. 

I remember 6 months or so ago Tandem sent me a questionaire about the how I would react to various different 'strategies' for increasing rates (e.g. would I prefer it if they provided a higher rate that needed to be opted in or a lower rate that automatically updated, or new issues that would have to be opened, etc.).   I think they were covering most of the strategies that are out there and trying to get feedback.  I guess the 'TopUp' is what they ended up with.

Futuristic

Zopa instant access now 3.21% 

7d 3.25% 31d 3.31% 3.47% 

doodlector

Boosted Pots don't seem to have updated:

3.21% Anytime

3.25% 7 days' notice

3.31% 31 days' notice

3.47% 95 days' notice

S_uk

I'm loving the constant Zopa/Tandem battle to overtake each other. Hopefully the trend continues and Tandem increases to 3.30% next week..

S_uk

doodlector said:

Boosted Pots don't seem to have updated:

3.21% Anytime

3.25% 7 days' notice

3.31% 31 days' notice

3.47% 95 days' notice

The 7 and 31 day boosted pots have increased. The 95 day one has stayed the same.

The 7 day pot was 3.12% this morning. 31 day pot was 3.27%.

pecunianonolet

Will be interesting to see if Coventry will move as well, only 0.04% difference now between the limited access saver issue 6 and 7 now and if they don't they will probably see a lot of funds moving out. No movements either from Kroo. 

jimexbox

Not enough of a gap between 31 and 95 day notice now imho. 

nottsphil

jimexbox said:

Freedommm said:

Signed up with Tandem. 
This is a very different experience to Coventry. Only took minutes, completely electronically, zero hassle.
One thing I don't understand is why they insist on accessing info on your existing bank accounts elsewhere. Wny is it any of their business to snoop on you? 

You have to agree to open banking?

Yes. They make out that it is voluntary but on the application you cannot progress without pressing that green button to the next stage, the action which they state signifies authorisation for revealing your transactions.
This is why they failed to get my £85,000 yesterday as I no longer deal with sly outfits like this one. I would have posted a screen print of that page but they ban you from taking one, at least on Android. 

SanguineOnSaturn

I've only linked Tandem to a current account I wasn't using. One of many in my quest to open more regular savers. No transactions to see other than these transfers in and out. Open banking seems to me to be an invitation for 3rd parties to increase spam and targeted marketing by analysing purchases, trends etc. Similarly how the credit scoring world is now just one big financial product sell (push).

AndyW79

Kazza242 said:

AndyW79 said:

Hi, I have the Coventry BS issue 7 and sadly only "got" 2.24% from the upgrade. I thought that these would be updated to 3.20%.  Do you know if it has a threshold above a target amount, I only transferred 1 pound since I was testing it, but the official page says 2.24% 

@david72 maybe you have more information?

I think you have the Coventry BS Easy Access Saver (issue 7), which pays 2.25% AER (rate effective from 1st March 2023).  This account pays a lower rate because it allows unlimited penalty-free withdrawals.   

Coventry increased the interest rate on their Limited Access Saver Online (issue 7) to 3.25% AER (3.20% gross from 1st March 2023).  This account pays a higher rate because it allows only 6 penalty-free withdrawals per account year.  It is no longer available to applicants.

As per my earlier post, Coventry have launched Limited Access Saver Online (issue 8), paying 3.10% AER.  They may increase this rate in the future to match the rate of their other limited access online issues, so it's probably worth opening it with £1.

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

Spot on Kazza, too many accounts…