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The Top Easy Access Savings Discussion Area
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hoc said:infoadict said:Thanks - but that doesn't tell me when the debit takes place and whether a day's interest is lost. I.e with Coventry you instruct on Day 1 but they only debit your account on Day 2 and then transfer. Charter however debit on Day 1 and transfer on Day 2, thus losing interest.Which of these camps does Shawbrook fit into?
Shawbrook do it properly. Most banks do. Charter, Kent Reliance are in the exception forcing payment to be scheduled the following day but deducting the balance immediately.2 -
Just wanted to update you that I've managed to resolve the previous mentioned issues of depositing money to Chip. I've had to link my First Direct bank account. But from the perspective of security, is it safe to link a bank account (where Chip can see all First Direct transactions) ?0
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Had to look that up... the guy actually thought Zelensky was calling him to ask about interest rates. What an absolute plonker.2
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worriednoob said:Just wanted to update you that I've managed to resolve the previous mentioned issues of depositing money to Chip. I've had to link my First Direct bank account. But from the perspective of security, is it safe to link a bank account (where Chip can see all First Direct transactions) ?2
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worriednoob said:Just wanted to update you that I've managed to resolve the previous mentioned issues of depositing money to Chip. I've had to link my First Direct bank account. But from the perspective of security, is it safe to link a bank account (where Chip can see all First Direct transactions) ?
I use a spare Santander current account for all my CHIP transactions, so the only thing CHIP can see over and beyond transaction with CHIP are the deposits from and withdrawals to my main current account. As more and more banks, as well as other organisations, are moving to Open Banking, this approach might not be sustainable in the long term.1 -
Thanks for your replies guys. To be honest I'm not too bothered about the transactions Chip can see as the account I've linked is rarely used anyway. But my main concern was whether there is a higher risk to linking accounts, such as passwords being hacked or somehow someone can obtain your security details.
One other question I want to ask those who use Chip - Being an app-only bank, is it safe to place large savings into Chip? When it comes to withdrawing/transferring large savings from Chip to another bank, have you have any issues, such as Chip blocking you or limiting you?0 -
Richchad said:SJMALBA said:fryedslyce said:patpalloon said:Bear in mind if you transfer money in to shawbrook now it won't appear until Tuesday pm
https://help.shawbrook.co.uk/hc/en-gb/articles/5600608425618-How-quickly-will-the-funds-show-in-my-account-and-when-will-I-start-to-earn-interest-
I did a transfer from Santander to Shawbrook about midday and it has only just arrived at Shawbrook, so still time yet.0 -
jaypers said:Seems to be a lot of activity with rates this past week. What are peoples thought on what happens next? For me, I don’t like the idea of CHIP and also things about Shawbrook put me off like having to open new issues all of the time to get the latest rates etc.
I suspect Zopa will move next, closely followed by Atom. Marcus will do absolutely nothing but I also think Chase will move to 3.5% fairly soon.
I feel that the institutions are betting on interest rates about to peak. As they start to drop off again, you can guarantee that rates will reduce straight away, in line with announcements, unlike increases where we have to wait. I’m still looking at locking into a couple of 2 year fixes between now and August. Closely watching Easy Access rates and not keen on opening any more accounts. Feel this thread will be busy next week.
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grumbler said:worriednoob said:I was about to apply for a Chip Account, but it's got a lot of negative reviews, with users complaining of being unable to access their savings, unable to contact any staff, problems with transferring money and only being allowed to transfer small amounts of money. Has anyone else had such experience and would you recommend Chip?It's like marmite. Try it yourself and see. Disable autosave. And don't forget £25 RAF bonus.
I've just opened an account (with a promo bonus), and all seems OK, although the TrueLayer screens you get when transferring money via Open Banking annoyingly just go completely blank - all I've felt safe to do is wait a few seconds, tap the Back icon, and it goes to a Chip screen saying "in progress" which then changes to "completed successfully".
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EthicsGradient said:What's the "£25 RAF bonus"? I can see there is an introductory offer from some financial websites (not MSE, as far as I can tell) with a promo offer where, if you sign up before 30th April, and tell them a minimum level you don't think you'll drop below before 1st Nov, they give you a bonus:1
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