The Top Easy Access Savings Discussion Area

pecunianonolet

TomDolan said:

Gatehouse have increased their rate on easy access

apologies ! the picture is condensed

rate increased from 2.96% to 3.01%

Got the same email, effective 10th March (today). not good enough so my £1 balance will remain

aaj123

This is a good one to open and keep in your bag. Not sure if there is any other guaranteed base rate tracker in the market and this one is for 24 months. Could easily become best in market under certain scenarios of interest rate curve shifts.

https://www.skipton.co.uk/savings/easy-access/base-rate-tracker

Further, it allows debit card deposits so serves the purpose of those wanting a solution for the Halifax reward account condition of £500 monthly debit card transaction.

Bridlington1

aaj123 said:

This is a good one to open and keep in your bag. Not sure if there is any other guaranteed base rate tracker in the market and this one is for 24 months. Could easily become best in market under certain scenarios of interest rate curve shifts.

https://www.skipton.co.uk/savings/easy-access/base-rate-tracker

Further, it allows debit card deposits so serves the purpose of those wanting a solution for the Halifax reward account condition of £500 monthly debit card transaction.

I would agree and have opened it alongside the previous version which had the same conditions but tracked 0.9% below the BOE base rate.

Mansfield did a 90 day notice account briefly a few months ago (gone within about 2 weeks) which I grabbed tracking the base rate exactly which worked out well.

Grownglow

Does CHIP automatically increase the interest rates on previous savings accounts? In struggling to see why someone would close their account. Could you not hold a £1 balance until they outpace another provider in the event they are no longer leading?

mebu60

TomDolan said:

Gatehouse have increased their rate on easy access

apologies ! the picture is condensed

rate increased from 2.96% to 3.01%

3.0% to 3.05% for annual.

Ditto re my £1 continuing its lonesome life. 

Bobblehat

Another vote for my £1 staying lonely at Gatehouse!

allegro120

mebu60 said:

TomDolan said:

Gatehouse have increased their rate on easy access

apologies ! the picture is condensed

rate increased from 2.96% to 3.01%

3.0% to 3.05% for annual.

Ditto re my £1 continuing its lonesome life. 

I kept my £1 there for nearly 5 months, it earned me 1p, withdrew and closed the account today.  GH don't seem to be able to catch up with other IA offers so I don't see the point waiting for any longer.  I can always open it again if they offer a leading rate.

mebu60

allegro120 said:

mebu60 said:

TomDolan said:

Gatehouse have increased their rate on easy access

apologies ! the picture is condensed

rate increased from 2.96% to 3.01%

3.0% to 3.05% for annual.

Ditto re my £1 continuing its lonesome life. 

I kept my £1 there for nearly 5 months, it earned me 1p, withdrew and closed the account today.  GH don't seem to be able to catch up with other IA offers so I don't see the point waiting for any longer.  I can always open it again if they offer a leading rate.

You can indeed but as well as the faff of the opening process you will also have to set up a new payee from your current account and retest that the links work in both directions (the latter step is optional but I and many others do that). 
Easier IMO to leave the lonesome £1.

pecunianonolet

You also never know if any loyalty products ill come round in the future. I closed my YBS Rainy Day account the other day and before I did I opened another easy access account and put £1 in so I remain customer and in ca 6 monts time I have access to loyalty products, if they are suitable for me. Leaving £1 somewhere doesn't hurt at all and is kind of a statement as well.

Bridlington1

pecunianonolet said:

You also never know if any loyalty products ill come round in the future. I closed my YBS Rainy Day account the other day and before I did I opened another easy access account and put £1 in so I remain customer and in ca 6 monts time I have access to loyalty products, if they are suitable for me. Leaving £1 somewhere doesn't hurt at all and is kind of a statement as well.

I've ended up with 5 YBS EA accounts, 4 of which contain minimal balances. I rarely close savings accounts with £1 minimum balances just in case they raise the interest rate.

Having said that I too have now closed my YBS rainy day account unlocking £33.01 in interest with the money winging it's way to Chip at 3.4% via Lloyds. The reason being that I could (and have) open a new version of the YBS rainy day account to reset the withdrawal counter (and give me an excuse to make an initial deposit of £1.01 for the Natwest round ups).