The Top Easy Access Savings Discussion Area

Kazza242

Kent Reliance has launched Easy Access Savings Account (issue 56), paying 3.37%.

Minimum opening deposit £1,000.  Minimum operating balance £1.

To receive the 3.37% rate at least £1,000 must remain in the account.  If the total balance is between £1 - £999 then an interest rate of 0.10% is paid.   

Monthly and annual interest options available.

https://www.kentreliance.co.uk/savings/easy-access-savings-account

ForumUser7

I-LOV-MONEY said:

Kazza242 said:

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

I remember the Leeds BS from many hundreds of years ago!   They had an office (in London) just down the road from where I worked, and would go in with my passbook to pay in / withdraw and the cashier would duly update it.   I think it was a cashier there that first told me that they don't pay interest on the pence part of your balance.   Since then I have rounded all my accounts to pounds only (normally £5.00 !!).

Does anyone know if this still applies please? My balances as it happens with them are whole pounds anyway, but it would be surprising if they still do this - I guess maybe it was easier for older systems to work out?

phillw

jak22 said:
that people were excited about that converts to an Everyday Saver (0.7%) in 6 months.

Or not, they have already raised the interest rate despite the account not being available to new customers.

They might do it again.

phillw

OceanSound said:
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

Concrete evidence that they are legally prevented from providing to you.

You are clutching at straws on that ombudsman case, it's for paying a credit card & not for withdrawing money.

A standard way of verifying someone's identity, is by posting out a code. Not by accepting that just because you say you've lost your phone, they should just give you all the money from the account.

What actually is your point? You seem to be trying to convince me that they must update the phone number as soon as anyone phones up claiming to be the account holder who has lost their phone and then they could immediately withdraw all the money.

I can't see that being a particularly effective ombudsman complaint if they don't but try it and see

BestSeagull

Kazza242 said:

Kent Reliance has launched Easy Access Savings Account (issue 56), paying 3.37%.

Minimum opening deposit £1,000.  Minimum operating balance £1.

To receive the 3.37% rate at least £1,000 must remain in the account.  If the total balance is between £1 - £999 then an interest rate of 0.10% is paid.   

Monthly and annual interest options available.

https://www.kentreliance.co.uk/savings/easy-access-savings-account

I opened Issue 55 yesterday!  It's not funded yet. If I don't it will close itself automatically in 7 days.

I'm going to open Issue 56 now but from previous experience, is there any reason to keep issue 55 too? I also have issue 52 but that is linked to my current account so keeping it for convenience.

BooJewels

Sorry, I was responding to comments on interest on the pence of balances, but the quote vanished.

When my Dad passed I found an old school savings book from the late 1930s with a few shillings in it and a newer pass book from National Savings saying that it had taken over the account.  My aunt had found something similar of her late husband's and got £68 in interest, so it seemed worth pursuing.

After about six months of back and forth with NS&I  spending 7 or 8 pounds in postage sending various documents and forms to them, I finally got a bank transfer from them of 20p.  A few days later I got a letter from them explaining that they don't pay interest of balances under a pound, but they were pleased to tell me that they had now closed the account and paid me the balance.  Big whoop!

jak22

phillw said:

jak22 said:
that people were excited about that converts to an Everyday Saver (0.7%) in 6 months.

Or not, they have already raised the interest rate despite the account not being available to new customers.

They might do it again.

The comment was suggesting that as the PO account contains a large bonus element so the rate drops sharply after 12 months it was a trick. The Santander eSaver Limited Edition (Issue 1) will convert to an Everyday Saver currently 0.7% in around 6 months time https://www.santander.co.uk/assets/s3fs-public/documents/esaver_key_facts_document_oct_22h2.pdf - this has nothing to do with rate changes for the eSaver during its 12 months term. 

ChewyyBacca

I transferred funds from Starling to Chip (through Clearbank) yesterday before 5 pm. The funds have not landed in Chip yet.
Chip's chat is useless, 4 hours on it & still no response. I emailed Chip 4 hours back
Spoke to Starling, and they have confirmed they have released the funds.
Any suggestions, on how do I track down my money?

Band7

ChewyyBacca said:

I transferred funds from Starling to Chip (through Clearbank) yesterday before 5 pm. The funds have not landed in Chip yet.
Chip's chat is useless, 4 hours on it & still no response. I emailed Chip 4 hours back
Spoke to Starling, and they have confirmed they have released the funds.
Any suggestions, on how do I track down my money?

PM them on Twitter? Be quick, they are shutting down for the weekend

Kazza242

BestSeagull said:

Kazza242 said:

Kent Reliance has launched Easy Access Savings Account (issue 56), paying 3.37%.

Minimum opening deposit £1,000.  Minimum operating balance £1.

To receive the 3.37% rate at least £1,000 must remain in the account.  If the total balance is between £1 - £999 then an interest rate of 0.10% is paid.   

Monthly and annual interest options available.

https://www.kentreliance.co.uk/savings/easy-access-savings-account

I opened Issue 55 yesterday!  It's not funded yet. If I don't it will close itself automatically in 7 days.

I'm going to open Issue 56 now but from previous experience, is there any reason to keep issue 55 too? I also have issue 52 but that is linked to my current account so keeping it for convenience.

I opened the KR Easy Access Savings Account issue 55 too yesterday!  It only launched on the 5th April 2023. 

They seem to offer different rates on their many issues, so yes, I think it is a good idea to open the new issue 56 (while it is available).  I am going to keep both issues as they may increase the rate on one (and not both) in the future.  

You can open them with £1,000 (per account) and then reduce the balances to £1 respectively, to keep the accounts open, if you're not planning to keep a lump sum in the accounts at the moment.