The Top Easy Access Savings Discussion Area

phillw

To all those who withdrew from chip, they are now showing 3.40% AER

alrk

phillw said:

To all those who withdrew from chip, they are now showing 3.40% AER

Lol yes transferred from chip -> zopa yesterday

transfer back today??

phillw

What is the highest rated account that allows unlimited transfers out 24/7?

AndyTh_2

alrk said:

phillw said:

To all those who withdrew from chip, they are now showing 3.40% AER

Lol yes transferred from chip -> zopa yesterday

transfer back today??

no loss of interest doing the transfer thanks to faster / open banking payments, so go ahead

Back before faster payments, with BACs that ~3 day lost interest used to nag me.

Just be aware £100k of transfers in (even if 10 transfers in and out of £10k) has triggered ML checks in Chip for some people.

dekkard

What's the deal with Chip and FSCS protection these days?

SeriousHoax

AndyTh_2 said:

alrk said:

phillw said:

To all those who withdrew from chip, they are now showing 3.40% AER

Lol yes transferred from chip -> zopa yesterday

transfer back today??

no loss of interest doing the transfer thanks to faster / open banking payments, so go ahead

Back before faster payments, with BACs that ~3 day lost interest used to nag me.

Just be aware £100k of transfers in (even if 10 transfers in and out of £10k) has triggered ML checks in Chip for some people.

Yes I got triggered & I just had to send a PDF from where the money is coming from.

infoadict

"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.

aaj123

phillw said:

To all those who withdrew from chip, they are now showing 3.40% AER

Others likely will move as this gap with second place is too large to ignore. 

jak22

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

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.