The Top Easy Access Savings Discussion Area

ircE

Apologies if this has already been mentioned or not worth mentioning because it's not exactly a top rate, but it may interest people to know that Yorkshire Building Society's Internet Saver Plus Issue 13 has raised the interest rates on its tiers at some point, meaning £50,000+ balances now earn 3.25%. This is different to the 3.15% advertised a few weeks ago.

The middle tier for £10,000 - £50,000 has also risen to 3.20%, up from 3.10%.

ForumUser7

ircE said:

Apologies if this has already been mentioned or not worth mentioning because it's not exactly a top rate, but it may interest people to know that Yorkshire Building Society's Internet Saver Plus Issue 13 has raised the interest rates on its tiers at some point, meaning £50,000+ balances now earn 3.25%. This is different to the 3.15% advertised a few weeks ago.

The middle tier for £10,000 - £50,000 has also risen to 3.20%, up from 3.10%.

Good spot - this is a further change since their 5th April changes. For some reason it isn't updated on their rates PDF yet

SickGroove

Hi all,

What's the maximum single transfer you can make through the CHIP App using their open banking with my linked account? Looking to transfer 35K into it from my linked Starling account. Is it best to send 15K first then 20K straight after or just send the whole 35K in one go?

Cheers

gt94sss2

SickGroove said:

What's the maximum single transfer you can make through the CHIP App using their open banking with my linked account?

The limit is set by the linked bank not Chip.

According to Truelayer who process the payments, Starling have a limit of £25k

https://support.truelayer.com/hc/en-us/articles/360016130173--UK-Providers-What-are-the-payment-limits-

Kazza242

Leeds Building Society will be launching their Limited Issue Online Access Account (issue 43), paying 3.30%.

Minimum deposit £1,000.  Withdrawals permitted.

https://www.leedsbuildingsociety.co.uk/savings/online-accounts/

OceanSound

phillw said:

OceanSound said:
I was tempted to stop reading after the 'usually'. 

Completely biased point of view. 

Banks and fintechs need to operate under rules and regulations. Case in point is, if I request my personal data, the bank needs to supply. If they don't they are breaking the law!

Banks cannot and won't stop you accessing your funds without good reason. It's not in their interest.

Ombudsman is only one route. There are faster routes. be prepared to be familiarize your self with the legal system (if self representing) or lawyer up and pay  though the nose.

They have to respond to a SAR within a month. I'm not sure how that's relevant to your argument though.

A good reason to restrict access to funds could be "this guy wants us to change the phone number on the account, because they lost their phone and can't get a new sim for a couple of days which makes us think they are a scammer".

Sometimes they restrict access because you tried to send money to a new payee. Other times people have no idea & in those cases it's illegal for the bank to tell you why they have restricted access to your money. So we actually have no idea afterwards either.

Good luck lawering up

https://www.lawgazette.co.uk/news/small-claims-taking-51-weeks-to-go-to-trial-as-litigants-wait-for-justice/5110788.article

Statistics, published by the Ministry of Justice for the July to September quarter, reveal the mean time taken for small claims to go to trial was 50.7 weeks – more than 12 weeks longer than in the same period in 2019.

I'm not sure what I'm supposed to be biased for or against. But clearly getting a replacement SIM is the fastest way to gain access to money if you lose your phone.

Small claims is not the only route! Actually it won't be the most applicable route in a case where a bank has incorrectly put a block.

I have no intention of lawyering up. So the well wishes of good luck are wasted on me!

You're talking about restricted access to do with money laundering. Apples and pears I'm afraid. For that Bank or fintech would need to have concrete evidence. They don't do it on a whim!

It is key that that the bank or fintech keep up to date contact details of the customer. Whether it's due to a lost phone or whatever is irrelevant. If a customer calls and declared his/her/their interest in changing their number. The bank or fintech would need to have a process in place to verify the customer's identity and process the request (The reason '...makes us think this guy could be a suspected scammer' probably wouldn't wash too well). In some cases the timing is crucial.

Have a look at:

https://www.financial-ombudsman.org.uk/decision/DRN7639688.pdf

Tesco Bank considers Ms D should’ve contacted it sooner to find out what she owed on her account. It also says she didn’t update her contact details, so it wasn’t possible for Tesco Bank to get in touch with her on the day her payment was due.

The above is what Tesco Bank said, read on and you will see the ombudsman's finding : 

But I think it’s unlikely that Tesco Bank made a note of that number, and that when it tried to call Ms D the following day it used her old phone number. It seems Ms D’s new number (which she’d confirmed during the call on 3 September 2018) wasn’t updated on Tesco Bank’s systems until 10 September 2018.

I think Tesco Bank’s failure to send Ms D her final statement meant she couldn’t easily pay what she owed on time. And when she phoned to make the payment before the due date, she was prevented from doing so because Tesco Bank couldn’t locate her account. I don’t consider that was Ms D’s fault either.

I base my opinion by doing research (as indicative from the above) and try not to allow biases enter the frame (indicative with the use of words like 'sometimes' and 'usually') cloud my judgement. 

AndyTh_2

soulsaver YBS Internet Saver Plus Issue 13 is incorrectly marked as 3.35% on the first page of the "no chat" thread. It's 3.25% on £50k as you said in your message

issue 12 seems to also follow those tiers

poppystar

Kazza242 said:

Leeds Building Society will be launching their Limited Issue Online Access Account (issue 43), paying 3.30%.

Minimum deposit £1,000.  Withdrawals permitted.

https://www.leedsbuildingsociety.co.uk/savings/online-accounts/

Anyone any idea how easy it is to change to this new issue? Will a call do it or do you have to open a new account then close the old one? Actually I guess I probably need to see if they are updating rates on previous issues first..

SickGroove

Anyone use an iPhone SE 2020 using the CHIP app? Reason I ask is that you can't view the accrued interest payment...

In the section where it should show, you can only see the £ sign but no amount. I have to install the CHIP app on my iPad if I actually want to see the accrued interest figure...

I guess it's down to the limitations of my iPhone but just wondered if there is a workaround or anywhere else to view the accrued interest figure within the CHIP app?

Cheers 

RedImp_2

SickGroove said:

Hi all,

What's the maximum single transfer you can make through the CHIP App using their open banking with my linked account? Looking to transfer 35K into it from my linked Starling account. Is it best to send 15K first then 20K straight after or just send the whole 35K in one go?

Cheers

I also think mostly it’s a daily limit rather than transactional so if as it seems 35k is over the limit I don’t think your plan would work.