The Top Easy Access Savings Discussion Area

Band7

sturgeon said:

sturgeon said:

Sorry I know it’s in this thread but it’s fast moving. Can someone recap the ‘rules’ for Chip’s saving account and when interest is applied? There was some good advice as to when to withdraw. 

Also, how long does a withdrawal take? When withdrawing it only offers withdrawal to a debit card and not my bank account which is weird. Is this instant/same day or not? 

All my numerous withdrawals, via card into my linked current account, have always been instant.

Try it out with a quid or two.

Freedommm

Post Office easy access savings still stuck at 3%. Anyone know of updates? 

TisMeBill

Chip instant access now matching Zopa 95 day pot at 3.55% AER, I suspect if Zopa don't increase their rates a lot of money will be withdrawn from them.

simoncorkswill1

sturgeon said:

Thank you. When withdrawing is it only to your debit card? And still instant? Every savings account I’ve had is a bank transfer withdrawal so the debit card number appearing when withdrawing has thrown me. 

The transfers are instant and seemingly without limit , but maybe I haven’t pushed the boundaries on that , the money will go straight into your current account which is linked to your debit card , I’ve had no complaints so far .

sturgeon

simoncorkswill1 said:

sturgeon said:

Thank you. When withdrawing is it only to your debit card? And still instant? Every savings account I’ve had is a bank transfer withdrawal so the debit card number appearing when withdrawing has thrown me. 

The transfers are instant and seemingly without limit , but maybe I haven’t pushed the boundaries on that , the money will go straight into your current account which is linked to your debit card , I’ve had no complaints so far .

Thanks, just tried and it really is instant. Very impressive. Still showing as 3.4% though in the app so I expect it’ll update today?

GalacticaActual

Did Marcus increase its interest rate overnight?

It’s showing 3.20%/3.16% (including the 0.25% bonus rate) this morning 🤔 

Bridlington1

May be worth noting that YBS's rainy day saver rises to 3.6% today, though it is limited to 2 withdrawals per year so just about beats Chip by 0.05%.

poppystar

GalacticaActual said:

Did Marcus increase its interest rate overnight?

It’s showing 3.20%/3.16% (including the 0.25% bonus rate) this morning 🤔 

Haven’t logged in to my Saga account but it too is now showing as 3.2% on Saga savings page, so I guess the answer is yes🙂.

Really would like NS&I to do something with their interest rates now..

GalacticaActual

poppystar said:

GalacticaActual said:

Did Marcus increase its interest rate overnight?

It’s showing 3.20%/3.16% (including the 0.25% bonus rate) this morning 🤔 

Haven’t logged in to my Saga account but it too is now showing as 3.2% on Saga savings page, so I guess the answer is yes🙂.

Really would like NS&I to do something with their interest rates now..

There might be an announcement from NS&I about their interest rates any day now.
During the next financial year, which starts on 6th April, NS&I will have to rake in 25 per cent more than its current £6 billion for this year (2022/23).

The Government has tasked NS&I with attracting £7.5 billion from savers in the next 12 months, despite its recent struggles to stop people leaving for better deals elsewhere.

The 7.5 billion reasons why NS&I will have to raise rates | Daily Mail Online

2010

Marcus has had it`s day.
It lags behind rate rises and then wants you to update your bonus rate for every rise.
I`m withdrawing my final £1.