The Top Easy Access Savings Discussion Area

savethepandas

Looks like Family BS have pulled their 3.2% online saver

alternate

savethepandas said:

Looks like Family BS have pulled their 3.2% online saver

Yup.  Family Planner has pulled out of the top savings chart.  Not the recommended method. :-}

aaj123

alternate said:

savethepandas said:

Looks like Family BS have pulled their 3.2% online saver

Yup.  Family Planner has pulled out of the top savings chart.  Not the recommended method. :-}

So Skipton is the only decent base rate tracker on offer now. Grab it while you can. The push down of yields due to events of past few days means trackers like this will soon be pulled.

cheesemason

Market expectations are that BOE rate will now peak at 4.25% (whereas recently it has been 4.75%) after the bank failures of the last few days. So we may well be seeing the peak of the saver rates now

pecunianonolet

cheesemason said:

Market expectations are that BOE rate will now peak at 4.25% (whereas recently it has been 4.75%) after the bank failures of the last few days. So we may well be seeing the peak of the saver rates now

Any evidence to back this up or is this just your opinion/view?

cheesemason

pecunianonolet said:

cheesemason said:

Market expectations are that BOE rate will now peak at 4.25% (whereas recently it has been 4.75%) after the bank failures of the last few days. So we may well be seeing the peak of the saver rates now

Any evidence to back this up or is this just your opinion/view?

 BOE expectations here

https://twitter.com/edconwaysky/status/1635355738527895552?s=46&t=jyJiGFo-b6Eopz661SKhzg

and my saying we could be around the peak was just my opinion based on this

pecunianonolet

cheesemason said:

pecunianonolet said:

cheesemason said:

Market expectations are that BOE rate will now peak at 4.25% (whereas recently it has been 4.75%) after the bank failures of the last few days. So we may well be seeing the peak of the saver rates now

Any evidence to back this up or is this just your opinion/view?

 BOE expectations here

https://twitter.com/edconwaysky/status/1635355738527895552?s=46&t=jyJiGFo-b6Eopz661SKhzg

and my saying we could be around the peak was just my opinion based on this

This would be a shame. In my opionion the BOE should have been much more aggressive to start with and we should be sitting at at least 5% by now. However, a much more aggresive appraoch in the first place would perhaps not have escalated things with inflation as they are just now but it's a rather complex topic anyway so I leave it as is.

OceanSound

Band7 said:

ForumUser7 said:

Band7 said:

Monzo is working fine for me on both. YBS seems to have a problem on the secondary device but I can always call them, and I also have a Branch down the road. Chase is a pain as it involves un- and re-registering so I would call them in a Security situation.

“You can use your Monzo app on more than one device, but for your security we only allow one login on Android and one login on iOS at a time.

For example, if you log in on your iPad, we’ll log you out of Monzo on your iPhone.”

This is what the Monzo help page says, and said last year too. Do you mean you have the app on both devices, or you are logged into the app on both devices please? I currently am in the first situation, but I’d quite like to be in the second one.

I am only logged in on one device at a time. I don't have a need for concurrent logins.

It's not so much 'being logged in to both devices at the same time' that's the problem. It's logging in to one device, logging out of that device then at a later time having the ability to login to second device 'seamlessly' (without too much hassle such as entering email address, then clicking on a link to take me to email account then opening email from Monzo, then clicking on link to verify a login is taking place).

I tested using Monzo app on two android devices. One android device is Android 10.0, the other is my older phone which is Android 6.0 (could this be the reason - doubt it, as I did the testing on the Android 10.0 device too and it's the same).

I would first install App then login to Android 10.0 phone and monzo app asks for email address, then sends an email to that email address, I click on the link within the email to login to Monzo App. Okay fine. So I close the Monzo App on Android 10.0.

Then i install monzo app on Android 6.0 device. Open the App and have to do the same as with Android 10.0 device. Use the app. then close the App.

Go back to Android 10.0 device and I have to enter email and go through the same as before. This is the case even if I have both the following settings enabled within Monzo App privacy and security settings on bothdevices:

*  App lock -  Require Andoird screen lock or biometrics to access Monzo
* Authenticate with biometrics

I've tested using both devices with Wise App (formerly Transferwise). No issues whatsoever. I can even be logged in to Wise account concurrently (at the same time). i.e. logging in to one device dosen't log me out of the other device. I even tapped on a transaction (the one at the top) on either device to see it this holds if I try to access a particular transaction. Yes, it does. Was never logged out of either device.

So, although, Monzo is joint 1st on the Online and mobile banking services ranking (Monzo has a link to this within their app) and Wise is nowhere to be seen (it only has position 1 to 3 btw), I bet Wise will give Monzo and Starling (position 1) some stiff competition in the next round of rankings. 

I can understand why Wise didn't feature in the top before as the App has had issues. e.g. not updating the balance immediately after a transfer in and having to refresh the screen manually or close app and reopen. Seems they've ironed out those issues and come up with a revamped app. Not so sure about the lime Green background through.   Surely they researched this and it must serve a purpose

Band7

Going further and further from the thread topic, but just to say that comparing Wise with Monzo or Starling is apple and pears as Wise isn’t a bank. People get complacent about FSCS support, which could end in tears.

OceanSound

Band7 said:

Going further and further from the thread topic, but just to say that comparing Wise with Monzo or Starling is apple and pears as Wise isn’t a bank. People get complacent about FSCS support, which could end in tears.

Nothing like introducing another topic in the same breath after saying we're getting further away from topic. i.e. on this occasion it's FSCS support. 

People don't need to keep large sums of money in Wise. For example, I only transfer sufficient to do conversion from one currency to another. In most cases it's not in excess of 400 pounds. I then send the money (after conversion)  or withdraw the money via ATM straight away.

In any case, I wasn't suggesting people deposit their savings in Wise instead of using an easy access savings account. Only comparing the apps between Wise and Monzo, starling. The fact that Wise isn't a bank is frankly irrelevant. 

I could've used Nationwide building society as an example as opposed to Wise and the same would hold. i.e. I can login to my two Android devices concurrently, or login to one, log out of it, then log in to the other one, without ever having to do the rigmarole of enter my email address, then access my email inbox, follow a link to confirm login etc.