The Top Easy Access Savings Discussion Area

pecunianonolet

Al Ryan increased their rate again to 3.12% gross p.a. from today. That amounts to 3.16% AER. That's an increase of 0.07% gross

@soulsaver

Zaul22

Probably won't make the list but the open banking app Emma have increased their instant access account to 3.04%

k_man

Zaul22 said:

Probably won't make the list but the open banking app Emma have increased their instant access account to 3.04%

To get 3.04% the Emma Ultimate subscription level (£14.99/m) is needed

Zaul22

oh yeh they made easy access and instant access 2 separate things

Band7

k_man said:

Zaul22 said:

Probably won't make the list but the open banking app Emma have increased their instant access account to 3.04%

To get 3.04% the Emma Ultimate subscription level (£14.99/m) is needed

Do emma have FSCS protection?

Zaul22

They use Clearbank same as chip. Last time I used them anyone could get interest on a savings pot but they have moved it into the subscription features. 

boomish

I got an email from Chip asking to complete a Source of Wealth form, I presume this information is kept private by the bank? Any advice on this? I presume this is normal anti money laundering rules stuff

refluxer

boomish said:

I got an email from Chip asking to complete a Source of Wealth form, I presume this information is kept private by the bank? Any advice on this? I presume this is normal anti money laundering rules stuff

It is presumably to do with anti money laundering, but it definitely isn't what I would call normal. I've moved large sums of money between dozens of different banks over the years and have never once been asked to prove where the money has come from.

infoadict

I had this Source of Wealth check from Chip. Just sent them screenshots of the banks and building society where the money had come from. The blurb says they don't accept screenshots, but they did with me. Took just over a week and got a message saying they do not require any further info.

Band7

boomish said:

I got an email from Chip asking to complete a Source of Wealth form, I presume this information is kept private by the bank? Any advice on this? I presume this is normal anti money laundering rules stuff

refluxer said:

boomish said:

I got an email from Chip asking to complete a Source of Wealth form, I presume this information is kept private by the bank? Any advice on this? I presume this is normal anti money laundering rules stuff

It is presumably to do with anti money laundering, but it definitely isn't what I would call normal. I've moved large sums of money between dozens of different banks over the years and have never once been asked to prove where the money has come from.

It seems to be normal for CHIP. Myself and others had the request, and it seems to be straight forward to satisfy their request for information. I provided them with proof of my income, and a written explanation of how my savings have accrued. Others just provided a screenshot of the savings accounts their money originated from. CHIP also need "encouraging" (!) to look at the net deposits people made, not simply ignoring the withdrawals, which they seem to have done, at least in some cases.

It's different for everyone - but in all cases, you just have to provide them with an explanation where your money came from.