The Top Easy Access Savings Discussion Area

fwdrew

Maybe Zopa will become the new Marcus.

There are some good deals around but I have now emptied my Zopa but have still left it open. Zopa have not updated their rates now since the 31st March. 

allegro120

Locarno1 said:

allegro120 said:

Locarno1 said:

I'm tempted potentially to move my savings into a better savings account. I'm currently using Tandem bank which is no longer on the highest interest list of easy-access savings accounts.. Thoughts people?

Tandem might catch up very soon, you never know. Otherwise, Chip is currently the highest paying one, any other new offers are below Chip.  It's a good strategy to open a few and shift money between them when better offers come in.

Ok, rather than have a lump sum in a savings account? Which is what I have at the moment...

It's good to have money in more than one bank in case something goes wrong with the app.  It's also good to have a few  accounts opened, so you can easily transfer most of your cash from one to another when required.  I use Chip, Tandem, Al Rayan, Zopa for my easy access money. At the moment I have £0 in Zopa, a little bit in AR and Tandem and the bulk of it in Chip.

Baileys_Babe

Thanks, everyone for highlighting the payment limit at Santander. Like most people, I received neither an email nor a notification in the app.

allegro120

Locarno1 said:

And also, I'd like to ask how I can move large chunks of my savings say for example, I decide to move it into a new account. The way I managed to put it into Tandem was transfer it chunk by chunk into my current Barclays account and then transfer it over, but is there any easier way? We're talking £40k-£50k..

No, you can transfer out of Tandem only to the banks on their list (which are major banks like Barclays etc.). So you will have to go through the same process as you did with transferring money to Tandem. 

jaceyboy

allegro120 said:

Locarno1 said:

allegro120 said:

Locarno1 said:

I'm tempted potentially to move my savings into a better savings account. I'm currently using Tandem bank which is no longer on the highest interest list of easy-access savings accounts.. Thoughts people?

Tandem might catch up very soon, you never know. Otherwise, Chip is currently the highest paying one, any other new offers are below Chip.  It's a good strategy to open a few and shift money between them when better offers come in.

Ok, rather than have a lump sum in a savings account? Which is what I have at the moment...

It's good to have money in more than one bank in case something goes wrong with the app.  It's also good to have a few  accounts opened, so you can easily transfer most of your cash from one to another when required.  I use Chip, Tandem, Al Rayan, Zopa for my easy access money. At the moment I have £0 in Zopa, a little bit in AR and Tandem and the bulk of it in Chip.

Same here, have you ever tried to withdraw large amounts from Chip? was it painless and quick?

allegro120

jaceyboy said:

allegro120 said:

Locarno1 said:

allegro120 said:

Locarno1 said:

I'm tempted potentially to move my savings into a better savings account. I'm currently using Tandem bank which is no longer on the highest interest list of easy-access savings accounts.. Thoughts people?

Tandem might catch up very soon, you never know. Otherwise, Chip is currently the highest paying one, any other new offers are below Chip.  It's a good strategy to open a few and shift money between them when better offers come in.

Ok, rather than have a lump sum in a savings account? Which is what I have at the moment...

It's good to have money in more than one bank in case something goes wrong with the app.  It's also good to have a few  accounts opened, so you can easily transfer most of your cash from one to another when required.  I use Chip, Tandem, Al Rayan, Zopa for my easy access money. At the moment I have £0 in Zopa, a little bit in AR and Tandem and the bulk of it in Chip.

Same here, have you ever tried to withdraw large amounts from Chip? was it painless and quick?

The largest I’ve ever withdrawn from Chip was £4k, never needed to withdraw more. That was no problem. 

cwep2

I was able to withdraw £30k and it was quick (arrived in less than 10 minutes) and painless. Did it during business hours though so can’t say what happens at say 10pm or 2am.

Band7

jaceyboy said:

Same here, have you ever tried to withdraw large amounts from Chip? was it painless and quick?

Have made dozens of withdrawals, often 5 figures, largest was £40k. All withdrawals have always been instant. My linked acct is at Santander.

fourmarks

jaceyboy said:

Same here, have you ever tried to withdraw large amounts from Chip? was it painless and quick?

I've made multiple withdrawals and the money has landed safely within minutes.

Bigwheels1111

7k from Tandem to FD took 10 minutes.
Requested 7k from FD to Chip, using Chip’s open banking, instant.
Sent it back to FD from Chip insanity.
Then back again.