The Top Easy Access Savings Discussion Area

allegro120

Beddie said:

allegro120 said:

cricidmuslibale said:

savethepandas said:

Apologies, very off-topic.

The likely reason Nationwide can't offer the top savings rates is due to the high cost of keeping those branches open and staffed. Higher rates for savers need higher rates for borrowers.  I'm fine with using branchless online banks, but others aren't.

It's a choice, and I'm in favour of choice.

When I last visited them, I queried the lack of savings rate increase and I got a united front of 'We are prioritising keeping mortgage rates low'. Pointed out I didn't have a mortgage, the response was basically 'Tough'.

When Nationwide releases its next set of adverts for TV, radio etc, I wonder if they will be honest enough to say “We’re here for you, we’re on your side, but only if you take out a mortgage with us, and certainly not if you save with us!”

Well, if they don't need us - we don't need them (plenty of good offers on savings market at the moment

They don't need us - from their 2022 accounts:

Member deposit balance growth of £7.7 billion (2021: £10.6 billion) to £178.0 billion (2021: £170.3 billion). 9.4% market share.

I think the high street presence makes a big difference to many people, helps them feel safer.

True, most consumers go for brand names

Eirambler

Quick Zopa question (and apologies in advance as this will no doubt have been asked before, but relevant again now as it's top of the pots):

If I put some cash into a 31 day pot and then serve notice on it immediately, will it gain the boosted interest rate for the 31 days, or do you only get the boost up until you serve notice and then the regular rate after that?

Thanks.

CooperSF

Eirambler said:

Quick Zopa question (and apologies in advance as this will no doubt have been asked before, but relevant again now as it's top of the pots):

If I put some cash into a 31 day pot and then serve notice on it immediately, will it gain the boosted interest rate for the 31 days, or do you only get the boost up until you serve notice and then the regular rate after that?

Thanks.

You will get the full interest until the account changes back to instant access.

Eirambler

Thanks. Seems like an easy way to bank a little extra interest without restricting access too much then.

inkydolphin

Apologies if already mentioned. My Santander Esaver Limited Edition (Issue 1) rate went up to 3.20% today. It's the one that was 2.75%/2.73% when issued. 

bertsilver

fly-catchers said:

Zopa now 3.34% for easy access. And 3.55% for the 95 day account.

Back to Zopa I go, thanks

Minty33

Investec online flexi saver 3.26%. 

Min balance £5000

2010

Even after today`s increases by Nwide along with Marcus, they are still the back markers by at least .25%.
NW flex saver hasn`t moved and is still stuck at 2.25%.

chris_the_bee

allegro120 said:

jak22 said:

The Zopa rate isnt disappointing - what's disappointing is the Coventry limited access which until recently had kept up fairly well with BoE changes but has only gone up 0.5% since December with the BoE going up 1.25% and now was nearly matched by Zopa EA

My issue 6 is going up by 0.1% from Tuesday next week.  And looking at their pattern of response to BoE rates we are not likely to see any further rises within next 6 weeks or so. Today's 3.25% is already uncompetitive, coming Tuesday 3.35% is ok but might not be Tuesday after. I'll wait and see what happens in the next couple of weeks, but it looks like I will be withdrawing soon (leaving the minimum operating £1 there just in case the account will become good again in future). The first on my 'tidy up' list for next week  is "welcome to Newbury", 3.30% is no longer acceptable. 

Leave the minimum £50 in Welcome to Newbury for a year as access to the Existing members account currently 3.5%.

allegro120

chris_the_bee said:

allegro120 said:

jak22 said:

The Zopa rate isnt disappointing - what's disappointing is the Coventry limited access which until recently had kept up fairly well with BoE changes but has only gone up 0.5% since December with the BoE going up 1.25% and now was nearly matched by Zopa EA

My issue 6 is going up by 0.1% from Tuesday next week.  And looking at their pattern of response to BoE rates we are not likely to see any further rises within next 6 weeks or so. Today's 3.25% is already uncompetitive, coming Tuesday 3.35% is ok but might not be Tuesday after. I'll wait and see what happens in the next couple of weeks, but it looks like I will be withdrawing soon (leaving the minimum operating £1 there just in case the account will become good again in future). The first on my 'tidy up' list for next week  is "welcome to Newbury", 3.30% is no longer acceptable. 

Leave the minimum £50 in Welcome to Newbury for a year as access to the Existing members account currently 3.5%.

Yes, this is what my plan is.  It's good to continue BS membership. I've learned this lesson with YBS few year ago when I ditched my low interest RS and because of that missed out on 5% loyalty RS they've introduced a month later.