The Top Easy Access Savings Discussion Area

TiVo_Lad

mebu60 said:

Expotter said:

Regarding Hampshire Trust Easy Access, does anyone know whether they tend to increase rates for their existing accounts, or do they keep releasing new issues and if so, how easy is to transfer to the new accounts every time?

I came in on Issue 9 and it has been new Issue 11 for uplift to 3.82%. I did over the phone this morning, can take up to 48 working hours to show online apparently. There is also an email option for existing savers. 

Ditto for me. They did say that if the account had been open for less than 14 days they would "upgrade" the existing issue, but otherwise it's a new account for the new issue. Think of it as a manual version of Cynergy's online process.

PloughmansLunch

Expotter said:

HSBC announces its Online Bonus Saver is going up to 4% for balances up to £10k on Jun 8th (other rates also increasing)

Shame I cleared it out yesterday as I'll only get a whisker's worth of interest for the rest of the month

mebu60

PloughmansLunch said:

Expotter said:

HSBC announces its Online Bonus Saver is going up to 4% for balances up to £10k on Jun 8th (other rates also increasing)

Shame I cleared it out yesterday as I'll only get a whisker's worth of interest for the rest of the month

As did I! Will wait until very end of June to add back. Why oh why didn't they announce in the week prior to 1 June. Or were they waiting to see the level of outflow on 1 June before acting? 

Malchester

First experience of trying to close an easy accent account with RCI Bank (Freedom Account). Closure request accepted yesterday afternoon (Thursday 1 June). Rang them to query when the funds would arrive in my nominated account. Answer end of business Monday 5th June. That's taking 96 hours to transfer funds electronically! I could have walked there, collected my cash and walked to building society and deposited the funds quicker than that!

mebu60

TiVo_Lad said:

mebu60 said:

Expotter said:

Regarding Hampshire Trust Easy Access, does anyone know whether they tend to increase rates for their existing accounts, or do they keep releasing new issues and if so, how easy is to transfer to the new accounts every time?

I came in on Issue 9 and it has been new Issue 11 for uplift to 3.82%. I did over the phone this morning, can take up to 48 working hours to show online apparently. There is also an email option for existing savers. 

Ditto for me. They did say that if the account had been open for less than 14 days they would "upgrade" the existing issue, but otherwise it's a new account for the new issue. Think of it as a manual version of Cynergy's online process.

I nearly said 'Like Cynergy but not as slick' on my response! 

RG2015

mebu60 said:

PloughmansLunch said:

Expotter said:

HSBC announces its Online Bonus Saver is going up to 4% for balances up to £10k on Jun 8th (other rates also increasing)

Shame I cleared it out yesterday as I'll only get a whisker's worth of interest for the rest of the month

As did I! Will wait until very end of June to add back. Why oh why didn't they announce in the week prior to 1 June. Or were they waiting to see the level of outflow on 1 June before acting? 

I generally keep £1 in my “abandoned” savings accounts just in case.

ForumUser7

Hanley EBS quoting 10 W.D. time frame for processing of postal applications, due to the 'success of [their] Branch Saver account'

https://thehanley.co.uk/

There is likely a different team that processes withdrawal requests, but regardless with the high volume of post they'll be receiving, it feels likely postal withdrawal requests may be delayed. Ultimately, there will be a huge pile to sort through before it is sent to the relevant teams. Glad I decided to keep my RS funds for this month handy.

saverkev

Virgin ISA

Good news - from 1 June 2023 we increased the amount of interest we pay on your Easy Access Cash ISA Exclusive Issue 2 account.

The interest rate on your account is now 3.75% Tax-free1/AER2 variable

aaj123

saverkev said:

Virgin ISA

Good news - from 1 June 2023 we increased the amount of interest we pay on your Easy Access Cash ISA Exclusive Issue 2 account.

The interest rate on your account is now 3.75% Tax-free1/AER2 variable

If rates still creep up, expect the Virgin ISA to soon lag behind. They have tended to increase their rate after long gaps, in 75bps increments.

AmityNeon

RG2015 said:

mebu60 said:

PloughmansLunch said:

Expotter said:

HSBC announces its Online Bonus Saver is going up to 4% for balances up to £10k on Jun 8th (other rates also increasing)

Shame I cleared it out yesterday as I'll only get a whisker's worth of interest for the rest of the month

As did I! Will wait until very end of June to add back. Why oh why didn't they announce in the week prior to 1 June. Or were they waiting to see the level of outflow on 1 June before acting?

I generally keep £1 in my “abandoned” savings accounts just in case.

The act of withdrawal reduces the interest rate to the standard rate for the whole calendar month in which the withdrawal was made, so those who withdrew yesterday will not receive the bonus rate of 4% on 8th June, specifically because they withdrew and their accounts remain open (whether with £1 or nothing). In fact, closing the account and opening another would be the only possible workaround.