The Top Easy Access Savings Discussion Area

jak22

With a lot of good options over 3.6% and ISAs not far behind that, plus fixes around 5%, Premium Bonds are looking poor now at maybe 2.8% effective

gussie5555

jak22 said:

With a lot of good options over 3.6% and ISAs not far behind that, plus fixes around 5%, Premium Bonds are looking poor now at maybe 2.8% effective

Yep - will wait for the June draw and unless I win a high value prize which I never have in the last 3 years, my 50k will find a home in a 5% fixed 12 month account - you have to be pretty stupid to let 50K languish in Premium Bonds now, unless you are of a gambling mind!

eskbanker

gussie5555 said:

jak22 said:

With a lot of good options over 3.6% and ISAs not far behind that, plus fixes around 5%, Premium Bonds are looking poor now at maybe 2.8% effective

Yep - will wait for the June draw and unless I win a high value prize which I never have in the last 3 years, my 50k will find a home in a 5% fixed 12 month account - you have to be pretty stupid to let 50K languish in Premium Bonds now, unless you are of a gambling mind!

Always worth factoring tax into the comparison though - your net return is likely to be lower than 5% unless you have little other income?

And obviously fixed rates have always been higher than easy access ones, so it's not a like for like comparison from that perspective too!

t1redmonkey

Will be interesting to see if Chip up their rates now another genuinely easy access account has displaced them.

AmityNeon

t1redmonkey said:

Will be interesting to see if Chip up their rates now another genuinely easy access account has displaced them.

They should. When Chip were previously displaced by Tandem, then later by Shawbrook, on each occasion they immediately climbed back to the top. (They don’t care about Hanley though.)

karlie88

ForumUser7 said:

karlie88 said:

ForumUser7 said:

karlie88 said:

Opened a Hanley Economic branch saver instore. Took 15 minutes. Even received online banking details within an hour via email. They have a mobile app too which is good to see.

Deposits can be made via debit card as well FP, SO, cheques etc. Withdrawals are not as bad as I thought; you can set up a nominated account and ask for payments to be sent across over the phone.

Overall very good service especially with such a big gap to the next best rate.

I'm chancing my luck by posting in the forms - hoping they'll open it for me. Did they tell you which number to call to request withdrawals over the phone please? They told me that the passbook must be present for the branch saver withdrawals to be processed, but I'm wondering if perhaps I need to speak to a different team to organise that.

They told me to phone the local branch and that the passbook was not required to withdraw. They did complete a form to link a nominated account, which I also had to sign.

@Karlie88 Did they say in particular which branch to call please? In order to help me decide how much to deposit, based on ease of withdrawal, I just called a couple and asked - the response was they can never take verbal instructions to move funds to a nominated account, they require the passbook and a wet signature through the post.

Thank you for alerting me to this.

I have contacted my local branch and I was given incorrect information by the staff member. Feel somewhat annoyed.

Bridlington1

AmityNeon said:

t1redmonkey said:

Will be interesting to see if Chip up their rates now another genuinely easy access account has displaced them.

They should. When Chip were previously displaced by Tandem, then later by Shawbrook, on each occasion they immediately climbed back to the top. (They don’t care about Hanley though.)

Well I've just emptied Chip so hopefully that'll give them a bit of a nudge.

wiseonesomeofthetime

Bridlington1 said:

AmityNeon said:

t1redmonkey said:

Will be interesting to see if Chip up their rates now another genuinely easy access account has displaced them.

They should. When Chip were previously displaced by Tandem, then later by Shawbrook, on each occasion they immediately climbed back to the top. (They don’t care about Hanley though.)

Well I've just emptied Chip so hopefully that'll give them a bit of a nudge.

Curious.

Did you empty Chip for an extra 0.04%, or a different reason?

ForumUser7

Chip going up, rate TBC (@bridlington1 - your magical nudge must have worked 😂)

https://twitter.com/Get_Chip/status/1661010796233764865?s=20

jimmynoton

Chip is going up to 3.82%