The Top Easy Access Savings Discussion Area

Krakkkers

patpalloon said:

I wonder if Atom will up their game? 2 things I don't like about Shawbrook - convoluted log in process; transfers are slow. If you try and transfer any money in/out today you won't see it until (late) Tuesday.

You also have to ask for an upgrade when there is an interest rate increase.

Zaul22

What is Shawbrooks security/log in process like? It sounds like they use bog standard password and text code same as Coventry. 

ranciduk

Zaul22 said:

What is Shawbrooks security/log in process like? It sounds like they use bog standard password and text code same as Coventry. 

You have an account number and password to enter

then they send you a OTP by text or to voicemail 

Middle_of_the_Road

OceanSound said:

Middle_of_the_Road said:

Aidanmc said:

Does Skipton process withdrawals over bank holiday/weekends, from tracker saving acc or will it be Tuesday now

Tested a withdrawal earlier. Quoted leaving date was the 11th

Whats the deal with the future dated ? Did you receive it instantly though? i.e. only the leaving date is future?

I tested a withdrawal (payment using banking App) from Atom to HSBC current account. It has today's date (Good Friday - So bank holiday). Tested withdrawal from HSBC current account to Atom. Again today's date. 

Both payments were received instantly. 

I've seen the future dated scenario when I do a payment ffrom a Halifax bank current account. Pretty sure it's the same with Lloyds also. Maybe the whole group uses same/similar system so that's how come. 

If the transfer/payment is received instatly and only the date is a future date, how does it affect us (if at all?). Do we get interest on the money tranferred until 11 April 2023 

edit: is the tracker savings account called 'Base Rate Tracker Account Issue 4' or is it something else:

https://www.skipton.co.uk/savings/easy-access/base-rate-tracker

I didn't go through with the withdrawal, as it said the money would leave the account on the 11th.
I don't think Skipton and some other similar outfits have instant fast payments like major banks.

As you say, what about interest, if you ask for payment, and it takes 3-4 days to arrive?

The base rate tracker I have tracks at 0.9% below BOE rate, no longer available. The replacement tracks at base rate minus 1.1%

Base Rate Tracker Account - Skipton Building Society

2010

Krakkkers said:

patpalloon said:

I wonder if Atom will up their game? 2 things I don't like about Shawbrook - convoluted log in process; transfers are slow. If you try and transfer any money in/out today you won't see it until (late) Tuesday.

You also have to ask for an upgrade when there is an interest rate increase.

Depends.

I took out an easy access ISA issue 23 with them a couple of weeks ago at 3.17%, yesterday I got an email stating the rate had gone up to 3.27% still issue 23.

Band7

OceanSound said:

Band7 said:

OceanSound said:

flaneurs_lobster said:

Beddie said:

sturgeon said:

How do I see my pay-in details for Chip? Can’t I just make a normal bank transfer? It only allows me to pay in via open banking but Barclays keeps giving me a message that I’m over my daily limit and I’m not sure how much that is, seemingly £10k?

I'm with Barclays and you can do up to £50k with online banking, but only £10k via the app. So if you need to move more money in future log in the "old way."

How please? I thought Chip was app-only?

 presumably this is to do with paying in to chip account as opposed to transferring out of chip.

You can’t initiate a payment from Barclays to CHIP. It must be initiated from CHIP. 

Unfortunately, Barclays have silly daily limits on OB bank transfers. No such restrictions at most other banks.

Okay. Thanks.

It's been a while since I used chip. I may start using again. The account is still open AFAK.

Btw, once payment-in is initiated at Chip, how long to reach Chip and is there any time period when the funds don't earn interest because it's left Barclays (or whichever bank or Fintech) and hasn't reached chip yet?

If you use the recommended OB bank transfer, the deposit is near instant and your money will earn interest from the date of the deposit. Your money is also FSCS protected from the same date.

You can also deposit by debit card but this has been discouraged umpteen times on this forum because it takes 3 working days to clear. Whilst uncleared, you get neither interest nor FSCS protection.

mebu60

Krakkkers said:

patpalloon said:

I wonder if Atom will up their game? 2 things I don't like about Shawbrook - convoluted log in process; transfers are slow. If you try and transfer any money in/out today you won't see it until (late) Tuesday.

You also have to ask for an upgrade when there is an interest rate increase.

Apart from the latest rate increase last week which was applied to existing accounts with no customer action required! 

simoncorkswill1

AmityNeon said:

simoncorkswill1 said:

Anyone else checked CHIPS interest calcs ? Being first month with them I can not be certain up to what date their calc applies and I am also not sure of when say the calc starts after deposit ie same day or next day , mine seem way off , have emailed them for a breakdown , just wondered if anyone else had checked .

Interest is calculated on the closing balance each day. Interest periods start from the last day of month 1 to the second-last day of month 2, and interest is paid on the fourth working day of month 3. E.g. The most recent interest payment on 6th Apr was for the period covering 28th Feb to 30th Mar inclusive.

Thanks , that the info I didn't have .

simoncorkswill1

Band7 said:

simoncorkswill1 said:

Anyone else checked CHIPS interest calcs ? Being first month with them I can not be certain up to what date their calc applies and I am also not sure of when say the calc starts after deposit ie same day or next day , mine seem way off , have emailed them for a breakdown , just wondered if anyone else had checked .

There is a discussion about CHIP interest calculation and payment etc in a separate thread and I would suggest you take any concerns over there.

Suffice to say, saying their calcs are way off seems way off 

Given on the two accounts we have one was showing the accumulated interest and the other failed to do so for about ten days you would understand the concern when the accrued was applied and was seemingly too low.

Band7

simoncorkswill1 said:

Band7 said:

simoncorkswill1 said:

Anyone else checked CHIPS interest calcs ? Being first month with them I can not be certain up to what date their calc applies and I am also not sure of when say the calc starts after deposit ie same day or next day , mine seem way off , have emailed them for a breakdown , just wondered if anyone else had checked .

There is a discussion about CHIP interest calculation and payment etc in a separate thread and I would suggest you take any concerns over there.

Suffice to say, saying their calcs are way off seems way off 

Given on the two accounts we have one was showing the accumulated interest and the other failed to do so for about ten days you would understand the concern when the accrued was applied and was seemingly too low.

Seems very odd that one account showed the interest 10 days before the other as CHIP are paying all interest on the 4th working day of a month.