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The Top Easy Access Savings Discussion Area

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  • jak22
    jak22 Posts: 403 Forumite
    Third Anniversary 100 Posts
    edited 7 March 2023 at 2:08PM
    Until last month the Coventry limited access accounts have increased with each BoE over the last year and so had one of the better rates even if often NLA, but now the smaller banks are the ones gradually closing the gap with the BoE rate - YBS didnt make any changes at all after the last BoE.
  • phillw
    phillw Posts: 5,665 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    aaj123 said:
    Others likely will move as this gap with second place is too large to ignore. 
    It's a bold move, it might be too rich for the others to match when they have only just moved.
    They might rely on people's reluctance to trust chip and give up on people like us.

  • dekkard said:
    What's the deal with Chip and FSCS protection these days?
    Chip Instant Access is held with > Clearbank which has protection, so not directly protected AFAIK. It's a very attractive rate, but the fact that Chip is limited to one linked bank account in & out, and no actual personal account number / faster payment method rules it out for me as I don't want to have to funnel everything through a single current account first.
  • TisMeBill
    TisMeBill Posts: 55 Forumite
    Third Anniversary 10 Posts
    infoadict said:
    "Yes I got triggered & I just had to send a PDF from where the money is coming from."
    How long did it take for them to contact after you submitted? I sent them some details almost a week ago and not heard anything since.


    I sent a copy of my bank statement for the account I had used to move money to Chip on 23rd Feb, they replied on 1st March to say all was ok and no further information required,
  • TisMeBill said:
    infoadict said:
    "Yes I got triggered & I just had to send a PDF from where the money is coming from."
    How long did it take for them to contact after you submitted? I sent them some details almost a week ago and not heard anything since.


    I sent a copy of my bank statement for the account I had used to move money to Chip on 23rd Feb, they replied on 1st March to say all was ok and no further information required,
    Presumably the two bank accounts were not linked by Open Banking?
  • SeriousHoax
    SeriousHoax Posts: 323 Forumite
    Part of the Furniture 100 Posts Photogenic Name Dropper
    infoadict said:
    "Yes I got triggered & I just had to send a PDF from where the money is coming from."
    How long did it take for them to contact after you submitted? I sent them some details almost a week ago and not heard anything since.

    About 10-Days It never affected my account or anything it just functioned as normal then I got a Email saying you've passed our checks.


  • pecunianonolet
    pecunianonolet Posts: 1,804 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    Very attractive and would mean quite some consolidation work to benefit from it. Release on Tuesday, just in time for the MSE show tonight. Hoping others will follow.

    Those with ML checks, were your funds blocked during the review? This would be a big fat no go for me, especially when we come to the end of the financial year sorting ISA, etc. I am not a friend of open banking either, well the convenience yes but snooping is a big fat no.
  • gt94sss2
    gt94sss2 Posts: 6,157 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Those with ML checks, were your funds blocked during the review? 
    No, the account continued to operate while they requested proof of the source of your funds.
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