The Top Easy Access Savings Discussion Area

BooJewels

Ah super @ForumUser7 - as I still have a paper one I've not experienced it directly, but know for certain that the paper one is specified as not being acceptable - no doubt because it doesn't have a photo on it.

10_66

For the issues of the Kent Reliance Easy Access accounts that are eligible for the rate rise on 19/5/23; I double checked with them today and was advised that the AER will be 3.75%, Gross 3.69%.

TiVo_Lad

I'm beginning to wonder if those that operate the "Top Table" websites are getting a bit fed up with all the (often tiny) changes. Both MoneyFacts and SavingsChamp have been pretty swift with any new issues up until now, but at the time of writing, the Harpenden Online Instant Access Issue 1 at 3.69% is on MoneyFacts but isn't on SavingsChamp, and the Ford Flexible Saver at 3.6% is on SavingsChamp but isn't on MoneyFacts.

It could be that someone's not paying their subs to be listed, but it is odd that there's been a couple of leading accounts missing these past few days when historically the top tables always been up to speed.

refluxer

TiVo_Lad said:

...the Ford Flexible Saver at 3.6% is on SavingsChamp but isn't on MoneyFacts.

On Moneyfacts, you need to always click on 'Rate Order' otherwise providers who Moneyfacts (presumably) get commission from will get listed first. If you do that, the Flexible Saver will appear near the top. The 'Apply online' option that appears as default is actually pretty misleading, as you can obviously apply for the Ford Flexible Saver online... but just not through the Moneyfacts site.

You're right though - there are often discrepancies between the two. I prefer Savings Champion if I just want a quick look at the top rates, but will always check Moneyfacts too before actually applying for anything. 

mebu60

SJMALBA said:

mebu60 said:

If Kent Reliance is increasing their rates by 0.25% from Friday then their EA Issue 57 will move to 3.7%.
Is that wishful thinking on my part or have others drawn the same conclusion? 

I already have issue 57, and my reading of their statement was that it wouldn't increase, so I withdrew my money - literally minutes later, I received an email saying that my rate would increase!
Either their statement is incorrect/unclear, or the email was sent in error/is wrong - I await with interest (no pun intended) to see the outcome...

Some excitement to look forward to for Friday then. Or not! 

I had already withdrawn, was whether to refill. Will place elsewhere for now and see what the 19th brings. 

TiVo_Lad

refluxer said:

TiVo_Lad said:

...the Ford Flexible Saver at 3.6% is on SavingsChamp but isn't on MoneyFacts.

You're right though - there are often discrepancies between the two. I prefer Savings Champion if I just want a quick look at the top rates, but will always check Moneyfacts too before actually applying for anything. 

Seems someone at Savings Champ reads this thread. The Harpenden account has miraculously just appeared, two days after it was launched!

ranciduk

MichaelAP said:

S_uk said:

Try looking at it like this - the £82.50 cost for a new passport works out at 69p a month for the length of the period of validity, and you could potentially make more than that back in extra interest if it means it makes available more top savings accounts that you can easily open.

Whilst I can see your point of explanation, I on the other hand can not understand why I should have to pay £82.50 just for an identification, where I have two other photo ID methods that are legal documents/cards but not though part of the two that certain companies demand.

I bit the bullet and got a passport purely for ID

i had to go to a place at the other end of the city 

So had to take a day off work

a bus and a tram and train to get their - then back again- so god knows what extra money on top for the travelling expenses on top

Just to have an interview in an office that took about 4 minutes 

absolutely ridiculous waste of my time!

pearl123

Is this worth going for Harpenden BS 3.69% £100 min or do you think it won't be long at the top? 
I've not long opened a Family Building Society savings acount only to cull it, as it wasn't competative. 

t1redmonkey

pearl123 said:

Is this worth going for Harpenden BS 3.69% £100 min or do you think it won't be long at the top? 
I've not long opened a Family Building Society savings acount only to cull it, as it wasn't competative. 

Depends how much hassle you feel it would be to open it and fund it.  I mean technically it's not at the top now anyway, with the Chip account at 3.71% and the new Hanley Economic BS one at 4.25% (but that one seems very restrictive and not really 'easy access').

Most likely this game of 'leapfrog' will continue a while longer with easy access accounts anyway, they seem to be steadily creeping up all the time so you might need to get used to opening new accounts if you want to stay on a leading rate!

Having said all that, depending on the amounts of money we're talking about, a few decimal points increases here and there may not actually mean much anyway in the grand scheme of things.

TiVo_Lad

t1redmonkey said:

pearl123 said:

Is this worth going for Harpenden BS 3.69% £100 min or do you think it won't be long at the top? 
I've not long opened a Family Building Society savings acount only to cull it, as it wasn't competative. 

Depends how much hassle you feel it would be to open it and fund it.  I mean technically it's not at the top now anyway, with the Chip account at 3.71% and the new Hanley Economic BS one at 4.25% (but that one seems very restrictive and not really 'easy access').

Most likely this game of 'leapfrog' will continue a while longer with easy access accounts anyway, they seem to be steadily creeping up all the time so you might need to get used to opening new accounts if you want to stay on a leading rate!

Having said all that, depending on the amounts of money we're talking about, a few decimal points increases here and there may not actually mean much anyway in the grand scheme of things.

The application process was straightforward, albeit slightly weird that they make you electronically sign an actual application form rather than just tick some boxes. I've not had the ID or Account details yet (opened on Monday), so maybe they're coming via snail mail. Even if the account is only suitable for a few weeks, there's no harm in opening it and then moving your money on. I've just binned a Charter EA Account that I opened only a week ago after they didn't raise the rate and the Family BS Account has moved on too.

The amount you have to invest and the incremental rate will influence you own decision; I generally can't be bothered for 0.01% either.