The Top Easy Access Savings Discussion Area

allegro120

I-LOV-MONEY said:

I-LOV-MONEY said:

Hi.  I am a guy for simple things in life! 

So initially I am told Chips (is there fish served with it?!).   Then there are comments that it isn't a bank and money is held elsewhere.   I know I should be, but not really, interested in where it is held, as long as the money is protected by FSCS.  I can access my money when I require it.

Today I see a recommendation for Newbury BS.   When I looked at thier website I looked at a couple of accounts and I see 2 withdrawals a year.   Withdrawals are by post or in branch (should I take a day trip from London to get my money?)

I am looking for something like Santander where I can go online via the app and withdraw money to my bank account, or transfer money from there into the Santander account.   There is Marcus where I do have some funds and are paying 2.80% but it isn't worth transferring from Santander for .05% difference.   (You can't transact with Marcus between 23:00 and 00:00  - which is normally the time I look to see if I need to top up my current account .. but that is down to my laziness not to check before).

As with any Fish&Chips establishment, you don't have to have fish with your chips  

"Withdrawals by post or branch only" accounts show how out of date some BSs are. I have one of them - Hinckley and Rugby Regular Saver 30 Day Notice, 2 year RS, £500 pm, 4.75%.  Withdrawals by cheque. Electronic transfer is possible, but charged £25. I went for it because in cheque scenario 10 days cash drag wouldn't have much impact and may be in 2 years time they will modernise.

Zopa's Smart Saver is a good alternative to Santander and Markus. They pay much better rate and withdrawals are 24/7 imminent (usually takes 10-20 minutes for funds to arrive to your bank account).

ForumUser7

allegro120 said:

I-LOV-MONEY said:

I-LOV-MONEY said:

Hi.  I am a guy for simple things in life! 

So initially I am told Chips (is there fish served with it?!).   Then there are comments that it isn't a bank and money is held elsewhere.   I know I should be, but not really, interested in where it is held, as long as the money is protected by FSCS.  I can access my money when I require it.

Today I see a recommendation for Newbury BS.   When I looked at thier website I looked at a couple of accounts and I see 2 withdrawals a year.   Withdrawals are by post or in branch (should I take a day trip from London to get my money?)

I am looking for something like Santander where I can go online via the app and withdraw money to my bank account, or transfer money from there into the Santander account.   There is Marcus where I do have some funds and are paying 2.80% but it isn't worth transferring from Santander for .05% difference.   (You can't transact with Marcus between 23:00 and 00:00  - which is normally the time I look to see if I need to top up my current account .. but that is down to my laziness not to check before).

As with any Fish&Chips establishment, you don't have to have fish with your chips  

"Withdrawals by post or branch only" accounts show how out of date some BSs are. I have one of them - Hinckley and Rugby Regular Saver 30 Day Notice, 2 year RS, £500 pm, 4.75%.  Withdrawals by cheque. Electronic transfer is possible, but charged £25. I went for it because in cheque scenario 10 days cash drag wouldn't have much impact and may be in 2 years time they will modernise.

Zopa's Smart Saver is a good alternative to Santander and Markus. They pay much better rate and withdrawals are 24/7 imminent (usually takes 10-20 minutes for funds to arrive to your bank account).

I think post/branch is ok-ish if they only served local customers, but it really isn’t ideal for nationally launched accounts - especially with the Royal Mail strikes.

One of the things that doesn’t make much sense for me is why they don’t allow a scanned letter to be uploaded to the online portal, and then they post out a cheque. My ESBS easy access account  online platform has a PDF upload feature, as does HRBS and others. But yet both insist on a wet signature.

A few of them (HRBS, Furness, Loughborough) have said they are looking into improving their online offering (to potentially include online withdrawals) in the next couple of years, but it is difficult to know if they literally meant they were targeting late 2024/early 2025 launch, or if they just meant it was on their roadmaps but not for any time soon.

I-LOV-MONEY

I suppose a notice account that you have to withdraw your money by post isn't too bad as you can (strikes permitting) time your letter to arrive on the correct day.   If it is a notice account you don't need your money immediately.

I'll have a look at Zopa.   I used to be with them some time ago when they were lending money from your investments.

OceanSound

I-LOV-MONEY said:

I-LOV-MONEY said:

Hi.  I am a guy for simple things in life! 

So initially I am told Chips (is there fish served with it?!).   Then there are comments that it isn't a bank and money is held elsewhere.   I know I should be, but not really, interested in where it is held, as long as the money is protected by FSCS.  I can access my money when I require it.

Today I see a recommendation for Newbury BS.   When I looked at thier website I looked at a couple of accounts and I see 2 withdrawals a year.   Withdrawals are by post or in branch (should I take a day trip from London to get my money?)

I am looking for something like Santander where I can go online via the app and withdraw money to my bank account, or transfer money from there into the Santander account.   There is Marcus where I do have some funds and are paying 2.80% but it isn't worth transferring from Santander for .05% difference.   (You can't transact with Marcus between 23:00 and 00:00  - which is normally the time I look to see if I need to top up my current account .. but that is down to my laziness not to check before).

There's atom bank instant saver at 2.91% gross, 2.95% aer. No restrictions on withdrawals. 

In app customer service chat is very polite and responsive. 

allegro120

ForumUser7 said:

allegro120 said:

I-LOV-MONEY said:

I-LOV-MONEY said:

Hi.  I am a guy for simple things in life! 

So initially I am told Chips (is there fish served with it?!).   Then there are comments that it isn't a bank and money is held elsewhere.   I know I should be, but not really, interested in where it is held, as long as the money is protected by FSCS.  I can access my money when I require it.

Today I see a recommendation for Newbury BS.   When I looked at thier website I looked at a couple of accounts and I see 2 withdrawals a year.   Withdrawals are by post or in branch (should I take a day trip from London to get my money?)

I am looking for something like Santander where I can go online via the app and withdraw money to my bank account, or transfer money from there into the Santander account.   There is Marcus where I do have some funds and are paying 2.80% but it isn't worth transferring from Santander for .05% difference.   (You can't transact with Marcus between 23:00 and 00:00  - which is normally the time I look to see if I need to top up my current account .. but that is down to my laziness not to check before).

As with any Fish&Chips establishment, you don't have to have fish with your chips  

"Withdrawals by post or branch only" accounts show how out of date some BSs are. I have one of them - Hinckley and Rugby Regular Saver 30 Day Notice, 2 year RS, £500 pm, 4.75%.  Withdrawals by cheque. Electronic transfer is possible, but charged £25. I went for it because in cheque scenario 10 days cash drag wouldn't have much impact and may be in 2 years time they will modernise.

Zopa's Smart Saver is a good alternative to Santander and Markus. They pay much better rate and withdrawals are 24/7 imminent (usually takes 10-20 minutes for funds to arrive to your bank account).

I think post/branch is ok-ish if they only served local customers, but it really isn’t ideal for nationally launched accounts - especially with the Royal Mail strikes.

One of the things that doesn’t make much sense for me is why they don’t allow a scanned letter to be uploaded to the online portal, and then they post out a cheque. My ESBS easy access account  online platform has a PDF upload feature, as does HRBS and others. But yet both insist on a wet signature.

A few of them (HRBS, Furness, Loughborough) have said they are looking into improving their online offering (to potentially include online withdrawals) in the next couple of years, but it is difficult to know if they literally meant they were targeting late 2024/early 2025 launch, or if they just meant it was on their roadmaps but not for any time soon.

It wasn't long ago when I was still visiting local branches with passbooks and passport.  I have noticed that the majority of customers I've seen there were of a very senior age.  Young generation are using apps, open banking, using phone instead of cards in supermarkets etc.... I might be wrong, but I think BSs in question will have to modernise their procedures soon if they want to survive.

OceanSound

How often is this MSE webpage updated:

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/?&source=GOO-0X0000042AADF6152B&gclsrc=ds#easyaccess

Reason I ask is, I remember watching a video by Andy webb (a.k.a. Andy CleverCash) and he was saying that these days products and offers are changing constantly, so sometimes he'd update his webpage more than once on the same day!

Maybe it's prudent to do a cross check. I e check MSE site then check other sites to corroborate and read this thread of course 😊

oz0707

I-LOV-MONEY said:

I-LOV-MONEY said:

Hi.  I am a guy for simple things in life! 

So initially I am told Chips (is there fish served with it?!).   Then there are comments that it isn't a bank and money is held elsewhere.   I know I should be, but not really, interested in where it is held, as long as the money is protected by FSCS.  I can access my money when I require it.

Today I see a recommendation for Newbury BS.   When I looked at thier website I looked at a couple of accounts and I see 2 withdrawals a year.   Withdrawals are by post or in branch (should I take a day trip from London to get my money?)

I am looking for something like Santander where I can go online via the app and withdraw money to my bank account, or transfer money from there into the Santander account.   There is Marcus where I do have some funds and are paying 2.80% but it isn't worth transferring from Santander for .05% difference.   (You can't transact with Marcus between 23:00 and 00:00  - which is normally the time I look to see if I need to top up my current account .. but that is down to my laziness not to check before).

Personally i'd go with Cynergy

RG2015

OceanSound said:

How often is this MSE webpage updated:

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/?&source=GOO-0X0000042AADF6152B&gclsrc=ds#easyaccess

Reason I ask is, I remember watching a video by Andy webb (a.k.a. Andy CleverCash) and he was saying that these days products and offers are changing constantly, so sometimes he'd update his webpage more than once on the same day!

Maybe it's prudent to do a cross check. I e check MSE site then check other sites to corroborate and read this thread of course 😊

Yes indeed. This is very good advice.

Many on here do this. DYOR has become the mantra for those seeking accuracy and being totally up to date.

I am not sure though that I needed Andy Webb or any other self proclaimed guru to tell me this.

Malchester

Also worth an occasional look at the Building Societies Association website under members to see if some of he members have good rates, often with restricted access that don't get included in best buy tables as a result. It is a bit cumbersome as you have to click on each member society separately. I found Swansea Building Society paying 3.25% instant access a which beat others at the time. Restricted to residents in Wales and existing members. Customer service excellent.

ForumUser7

If you make a debit card deposit into the NSandI Direct Saver, on a weekend in the morning, what should the ‘interest date’ be please? NSandI told me it’d be the same day for those done before 8pm, regardless of weekends and bank holidays.

The website is showing Thursday for those done on Thursday, but it is showing today (Monday) for transactions made on Saturday (I didn’t do any on Sunday). 

Just trying to figure out which route to go down, general CS for a tech error, or complaints for misinformation. 

Thanks

Edit: I suppose the potential negative too could be if I contact them, I draw their attention to the large number of £1.01 round up transactions, and they close the account