The Top Easy Access Savings Discussion Area

OceanSound

RG2015 said:

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.

To be fair, it wasn't him that told me to Do my own research. I was doing that already. I happen to see that particular video where he was saying the offers and products are always changing and that some offers can be pulled at any time. Apparently, a bank or fintech will introduce a offer (an unbeatable rate - one that stands out from the crowd), then once they have sufficient numbers signing up for it, they will pull the offer.

He sometimes drops little hints and tips on his videos (may be to keep people interested in coming back to his videos). For example, he said with Starling you can get a debit card (a virtual one maybe - I don't remember TBH) immediately upon opening account. So, it is a handy account for burner current accounts (a current account that can be used for switching). I looked on his website if the same info was there, but couldn't find it. So it seems its exclusive to his videos. 

On topic: About the banks, bs's and fintech's instant access saver rates, I noticed the MSE link has Chip at the top with 3.40%, then Cynergy Bank with 3.25%. if I look at this comparison website: 

https://savings-accounts.comparethemarket.com/instant-access?AFFCLIE=CM01&apuid=undefined

it puts Chip at top with 3.40% (I'm ignoring Barclays Rainy Day saver which is exclusive to Barclays Blue Rewards members and Newbury Building Society Existing Members Account (EMA) which is available to those living at certain post codes . i.e. you need to be very local  ) then it has the Yorkshire Rainy Day Account Issue 2 at 3.35%. 

I wonder how come the Yorkshire Rainy Day Account Issue 2 doesn't feature in the MSE web page?
They've certainly had that rate for long enough. I mean, they didn't introduce it today (in which case MSE may not have updated the website). 

See this post by a forumite on another thread posted on 7 February 2023: 

11 Yorkshire BS Rainy Day SVR iss2; Dbl access*; (see trail 04/01) wef 17/01 3.35% to £5k, then 2.85%; blended rate for £50k - 2.90% View our Easy Access Savings Accounts | Savings 

I was thinking maybe it's the 2 withdrawals per year that disqualifies it from appearing in MSE web page, but then Sainsbury's Bank feature on the MSE web page with 3.07% and maximum of three withdrawals a year.

RG2015

@OceanSound,

Sorry, I misunderstood your post that Andy quoted specific deals, hints and tips.

This sounds very interesting.

bettz

Al Rayan have increased again 

ForumUser7

Regarding Newbury Postcode Restrictions:

"Good morning ForumUser7 

Thank you for your email, and for bringing to our attention the unclear wording on our Website concerning the change of postcodes on our Savings Accounts from 30th March.  I have notified our Marketing Dept, and the wording is currently being changed to make it clearer.

I can confirm the postcode changes is for new members only, and all our current products are available to existing members, as long as they are resident in England or Wales.

Kind regards

A Senior Customer Service Adviser"

Update: They've now made it clear on the website:

'From 30th March 2023 we will only be accepting new savings applications from new customers who live in the following postcodes: AL, BA, BH, BN, BS, DT, EX, GL, GU, HA, HP, HR, KT, LU, MK, NN, OX, PO, RG, RH, SG, SL, SM, SN, SP, SO, TA, TW, UB, WD, WR. Existing customers/members are unaffected by this change.'

cwep2

OceanSound said:

I wonder how come the Yorkshire Rainy Day Account Issue 2 doesn't feature in the MSE web page?
They've certainly had that rate for long enough. I mean, they didn't introduce it today (in which case MSE may not have updated the website). 

See this post by a forumite on another thread posted on 7 February 2023: 

11 Yorkshire BS Rainy Day SVR iss2; Dbl access*; (see trail 04/01) wef 17/01 3.35% to £5k, then 2.85%; blended rate for £50k - 2.90% View our Easy Access Savings Accounts | Savings 

I was thinking maybe it's the 2 withdrawals per year that disqualifies it from appearing in MSE web page, but then Sainsbury's Bank feature on the MSE web page with 3.07% and maximum of three withdrawals a year.

It's probably the 5k limit, and if you have say 50k the rate is below 3% which isn't competitive.

Realistically if your savings pot is below 5k then you can probably use a combination of regular savers which offer 5-7% - most limit £250 per month (some up to £400), but open 4 of them and you can put £1k per month away.

There's no right or wrong answer, the varying T+Cs of different accounts make them hard to compare like for like as you have so many different sorts of accounts. 

OceanSound

cwep2 said:

OceanSound said:

I wonder how come the Yorkshire Rainy Day Account Issue 2 doesn't feature in the MSE web page?
They've certainly had that rate for long enough. I mean, they didn't introduce it today (in which case MSE may not have updated the website). 

See this post by a forumite on another thread posted on 7 February 2023: 

11 Yorkshire BS Rainy Day SVR iss2; Dbl access*; (see trail 04/01) wef 17/01 3.35% to £5k, then 2.85%; blended rate for £50k - 2.90% View our Easy Access Savings Accounts | Savings 

I was thinking maybe it's the 2 withdrawals per year that disqualifies it from appearing in MSE web page, but then Sainsbury's Bank feature on the MSE web page with 3.07% and maximum of three withdrawals a year.

It's probably the 5k limit, and if you have say 50k the rate is below 3% which isn't competitive.

Realistically if your savings pot is below 5k then you can probably use a combination of regular savers which offer 5-7% - most limit £250 per month (some up to £400), but open 4 of them and you can put £1k per month away.

There's no right or wrong answer, the varying T+Cs of different accounts make them hard to compare like for like as you have so many different sorts of accounts. 

The sainsbury's one has a 500k limit. So, how come that one appears and the one that has 50k limit doesn't? Is it because of the higher limit? How was this decided? i.e. If a bank has a product with 500k limit it will feature on our website but if it's 50k then it won't.

patpalloon

How worried should we be about the banking crisis in US and now Switzerland? What effect could this have on savings accounts in the UK? Obviously your savings are protected up to 85k per institution.

pecunianonolet

patpalloon said:

How worried should we be about the banking crisis in US and now Switzerland? What effect could this have on savings accounts in the UK? Obviously your savings are protected up to 85k per institution.

Not worried at all. 

Nick_C

patpalloon said:

How worried should we be about the banking crisis in US and now Switzerland? What effect could this have on savings accounts in the UK? Obviously your savings are protected up to 85k per institution.

Perhaps you could start a new thread for this, and leave this free one for discussing 

The Top Easy Access Savings Accounts

nottsphil

allegro120 said:

nottsphil said:

allegro120 said:

nottsphil said:

Band7 said:

Winchmore_Hill_Shot said:

Band7 said:

Winchmore_Hill_Shot said:

I'm showing my ignorance here, but does anyone know whather the Family Account will accept debit card transactions from someone other than the account holder.  So would my wife be able to open an account and fund it using one of my Halifax debit cards.

don’t know the answer - though why would she not use her own debit card(s), and why wouldn’t you have your own savings account?

Because of the Halifax reward scheme.  It would be a useful dump for the £500 I need to spend on my DC every month.

You can open a Skipton and/or FBS for that purpose in your name.

People can be forgiven for not realising what FBS stands for.
It's the tiny one-branch Family Building Society that I think will soon be swamped with funds after launching its (no faff) market leading instant access account. I opened one in the early hours of this morning but have yet to fund it. Does anyone know  the cut-off time for qualifying for interest this weekend please?
Oh, and the same question for Chip.

Don't know about FBS, but AFAIK there is no cut-off time for Chip (i.e. deposits you make before midnight should earn you interest for that day, incl. weekends).

In that case you would get interest on both accounts for the day if you left the transfer of funds from Santander until after 8:20 p.m. This will show the withdrawal as being made on the following day. Santander can have major issues with your first deposit into Chip so I would do it through another bank's current account if you have one.

Which interest-bearing Santander account can you perform this trick with?

Any, I think - certainly the eSaver.