The Top Easy Access Savings Discussion Area

ForumUser7

Middle_of_the_Road said:

chris_the_bee said:

Kent Reliance

Email received re Easy Access Account (48) "We’re pleased to confirm we’re increasing the variable interest rate on your savings account by 0.25% AER*, to match the recent Bank of England Base Rate increase.

Your rate will increase automatically on 18 April 2023 – you don’t need to do anything. All other terms and conditions of your account remain the same."

I'm thinking if it's worth opening their current version (55) hoping that will also be increased.
Does anyone have experience of them raising the latest version along with the previous issues?

They might increase the issue 55 at the same time, but this wouldn’t fall under this rate increase update as that issue was released on the 6th

Middle_of_the_Road

ForumUser7 said:

Middle_of_the_Road said:

chris_the_bee said:

Kent Reliance

Email received re Easy Access Account (48) "We’re pleased to confirm we’re increasing the variable interest rate on your savings account by 0.25% AER*, to match the recent Bank of England Base Rate increase.

Your rate will increase automatically on 18 April 2023 – you don’t need to do anything. All other terms and conditions of your account remain the same."

I'm thinking if it's worth opening their current version (55) hoping that will also be increased.
Does anyone have experience of them raising the latest version along with the previous issues?

They might increase the issue 55 at the same time, but this wouldn’t fall under this rate increase update as that issue was released on the 6th

Thanks, thought that might be a long shot.

BestSeagull

It was worth opening Kent Reliance, issue 55 for me. I had issue 52 which even with the 0.25% increase is still less than issue 55 as it stands now. The same applies for issue 53 (and maybe more, I didn't check them all.)

Interest rates here.    https://www.kentreliance.co.uk/interest-rates

soulsaver

BestSeagull said:

It was worth opening Kent Reliance, issue 55 for me. I had issue 52 which even with the 0.25% increase is still less than issue 55 as it stands now. The same applies for issue 53 (and maybe more, I didn't check them all.)

Interest rates here.    https://www.kentreliance.co.uk/interest-rates

Y Iss 52 & 53  are a bit of an anomaly - I've got Iss31 which is 3.25% now (and lots of the older issues), going 3.5% 18th. 

TiVo_Lad

The Family Building Society Easy Access Saver Issue 5 is now 3.4% on balances over £100.

https://www.familybuildingsociety.co.uk/savings/easy-access-savings/product-detail/online-saver-(5)

Note that withdrawls are limited to a maximum of £25K per day

@soulsaver

"For any customers who have previously opened this savings account before 13 April, we will shortly be notifying you by email or by letter of the increase to your savings interest rate."

phillw

flobbalobbalob said:
You can connect another account using open banking. Does open banking check anything on the new account?

 I haven't used tandem. Zopa wants a bank statement with my name and address on to add a new account

phillw

OceanSound said:
However, customer could lose phone on Friday of a long bank holiday weekend and may not be able to get a replacement SIM until Tuesday. In this scenario, isn't the customer able to temporarily change their phone number to a replacement number (a bit like the replacement bus service that runs during weekends when there is work carried out on the rail lines. LOL)

Banks don't usually circumvent their security just for your convenience over a bank holiday.


In those circumstances, the customer would be within their right to request the bank or fintech to change their phone number. The bank or fintech would then need to change it (after confirming the customers ID). 

You can request whatever you like, they don't have to do anything. The bank can even prevent you accessing your money whenever they feel like it. You can complain & take it to the ombudsman after 28 days if you get nowhere, then wait in a queue for your complaint to be heard.

Band7

phillw said:

flobbalobbalob said:
You can connect another account using open banking. Does open banking check anything on the new account?

 I haven't used tandem. Zopa wants a bank statement with my name and address on to add a new account

You only need to provide a bank statement if they can verify your current account electronically

phillw

Band7 said:
You only need to provide a bank statement if they can verify your current account electronically

No idea why the verification would fail, but presumably they check the name and address on the account?

Band7

phillw said:

Band7 said:
You only need to provide a bank statement if they can verify your current account electronically

No idea why the verification would fail, but presumably they check the name and address on the account?

I had Santander, Starling and Nationwide added without the need of a statement. i did not manage to get Fineco or Wise added, despite providing Zopa with the requested statements. I have no idea what they check.