The Top Easy Access Savings Discussion Area

EthicsGradient

Expotter said:

Barkin said:

Justsayit7 said:

£1.00 will keep Shawbrook open at lower interest rate 

Yup, a much lower interest rate. From their website:

---x---
Interest rate where the balance falls below the minimum account opening balance;

0.05% Gross/AER (Variable)

---x---

Wow, I didn't think it'd be that low. Maybe I should just close it and withdraw all funds, is there any benefit really in keeping it open? As far as I know, they (Shawbrook) don't tend to increase the rate on existing issues, so don't you have to open a new account every time anyway?

If the plan is to keep it open with £1, then the interest rate is pretty irrelevant - you'd just get 4p a year even if it was the best currently available. Presumably your idea was to be able to quickly open another account if they did launch one with a good rate.

Expotter

EthicsGradient said:

Expotter said:

Barkin said:

Justsayit7 said:

£1.00 will keep Shawbrook open at lower interest rate 

Yup, a much lower interest rate. From their website:

---x---
Interest rate where the balance falls below the minimum account opening balance;

0.05% Gross/AER (Variable)

---x---

Wow, I didn't think it'd be that low. Maybe I should just close it and withdraw all funds, is there any benefit really in keeping it open? As far as I know, they (Shawbrook) don't tend to increase the rate on existing issues, so don't you have to open a new account every time anyway?

If the plan is to keep it open with £1, then the interest rate is pretty irrelevant - you'd just get 4p a year even if it was the best currently available. Presumably your idea was to be able to quickly open another account if they did launch one with a good rate.

I don't know how long Shawbrook 'remember' you for, but when I opened this easy access account a few weeks ago, I was able to do it quickly using my existing login details even though my last account had been closed in November last year, so that wasn't a problem really. 

Gollygumdrops

For all the Cynergy easy access account holders out there, their rate has now increased to 3.71%, so don’t forget to do the closing and opening accounts act, to get the new increase!

UncleK

Gollygumdrops said:

For all the Cynergy easy access account holders out there, their rate has now increased to 3.71%, so don’t forget to do the closing and opening accounts act, to get the new increase!

Thanks for letting us all know - most appreciated.

Gollygumdrops

UncleK said:

Gollygumdrops said:

For all the Cynergy easy access account holders out there, their rate has now increased to 3.71%, so don’t forget to do the closing and opening accounts act, to get the new increase!

Thanks for letting us all know - most appreciated.

👍 my pleasure.

SJMALBA

Charter EA issue 38 - 3.68%

https://www.chartersavingsbank.co.uk/Products/EasyAccess

@soulsaver

ForumUser7

Principality Online Double Access Issue 2 -> 3.80% according to moneyfacts @soulsaver

ranciduk

Small increase today from Shawbrook 

Gross

3.75% Annually

3.69% Monthly

JGal

Gollygumdrops said:

For all the Cynergy easy access account holders out there, their rate has now increased to 3.71%, so don’t forget to do the closing and opening accounts act, to get the new increase!

This is getting such a chore changing the cynergy account issue all the time. I think I'm on the 6th account now.

SJMALBA

ranciduk said:

Small increase today from Shawbrook 

Gross

3.75% Annually

3.69% Monthly

Thanks.
No email form Shawbrook so far, but checked online banking, and my previous issue 34 has been automatically increased.