The Top Easy Access Savings Discussion Area

mebu60

Zaul22 said:

Is that a typo or have Secure Trust gone up to 3.8 today and are going up again to 3.85 tomorrow?

I don't know what the source of the 3.8% was but I too have received the 3.85% wef 3/6 text this evening. 

Zaul22

3.8% is what the website is showing right now. Going to 3.85 is just playing chicken with Mr Chip, but maybe he won't consider ST as real competition because of the (one small) string attached. 

Rate increase on a Saturday though... 

tg99

Can anyone advise how long withdrawals take from a Secure Trust and whether there is a cut off time each day or 24/7 etc? Thx 

SJMALBA

tg99 said:

Can anyone advise how long withdrawals take from a Secure Trust and whether there is a cut off time each day or 24/7 etc? Thx 

Secure Trust Bank

'Withdrawals can be made without providing notice. Instructions received by 2pm will be processed on the same business day. Instructions received after 2pm or on a non-business day will be processed on the next business day.'

https://www.securetrustbank.com/savings/access-accounts/access-account

SJMALBA

mebu60 said:

Zaul22 said:

Is that a typo or have Secure Trust gone up to 3.8 today and are going up again to 3.85 tomorrow?

I don't know what the source of the 3.8% was but I too have received the 3.85% wef 3/6 text this evening. 

Guilty as charged! 
It was showing 3.8% on their website this morning.

ForumUser7

SJMALBA said:

mebu60 said:

Zaul22 said:

Is that a typo or have Secure Trust gone up to 3.8 today and are going up again to 3.85 tomorrow?

I don't know what the source of the 3.8% was but I too have received the 3.85% wef 3/6 text this evening. 

Guilty as charged! 
It was showing 3.8% on their website this morning.

and MoneyFacts

Eirambler

Any guesses on who'll be first to 4% easy access with no strings attached? Must be coming soon now. Chip or Al Rayan would be my guess.

Malchester

AmityNeon said:

Malchester said:

AmityNeon said:

Malchester said:

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!

Timescales for withdrawals are clear:

If you make a transfer by 2pm on a business day the money should be available in your linked account by the end of the following business day. Where the 24th and/or the 31st of December fall on a business day, an earlier withdrawal cut off time of 11am will apply.

This is fairly common practice for working-day-only providers who don't offer individual instant access accounts, and process deposits/withdrawals in batches.

Thanks for that explanation which I was aware of. My comment was really about the desperately slow speed of transfers by RCI (and others) in this day of electronic transfers when they can be done very quickly, even by those banks/building societies who are not clearing banks. 

Yes, they are slow, but their slow timescales are clearly published so you should have been aware of them before you opened the account, not by phoning RCI after requesting closure. Your withdrawal is only taking 96 hours because you timed your closure poorly.

If you don’t like working-day-only withdrawals with early afternoon cutoff times, simply don’t use accounts with such limitations, or work around them by planning ahead.

Again you have missed the point. I am saying that with all the technology available today it should never take 96 hours for a withdrawal. The only reason it does so is the penny pinching that provides an inferior service. Others manage a much speedier performance but RCI and others have deliberately chosen to provide an inferior service 

Ifts

Zaul22 said:

Is that a typo or have Secure Trust gone up to 3.8 today and are going up again to 3.85 tomorrow?

No, not a typo.

The 3.85% was the text that I received this morning from STB, change taking place 3rd June.

I went to their website and their easy access was displaying 3.80% rate, as this rate was not showing on the 'Top of The Pots' thread (3.65% when I looked), I thought I would let others know.

StayinAlive

Could someone just clarify what happens when your notice is up on a Zopa boosted pot. I get that the underlying capital is now fully accessible but what happens to the interest that has built up since the last interest was credited as this does not show up as available? I see there is a delete option for the pot - I assume, if pressed, that would then "close" the pot and transfer that interest into the primary pot but before pressing I thought I would check.