The Top Easy Access Savings Discussion Area

ForumUser7

Principality BS Online Double Access Saver Issue 2 from 3.80%(?) -> 3.88% ~ source moneyfacts @soulsaver

MDMD

allegro120 said:

Swipe said:

allegro120 said:

oz0707 said:

Swipe said:

oz0707 said:

Not sure if the below quote will show from no chat thread but glad I didn't bother shifting the HSBC OBS funds now, going up to 4%

Wheres_My_Cashback said:

HSBC Bonus Saver up from 3.50% > 4.00% up to £10K and 2.30% above £10K effective 08 June

https://www.theguardian.com/money/2023/jun/02/hsbc-increases-interest-rates-savings-accounts

Nice one, I have two of these from many years ago. Both now maxed out.

2 online bonus saver accounts? Is one in your other halfs name?

Also "from many years ago" - the account was launched in October 2022.

HSBC online bonus savers have been around for donkey's years. Here's an article from 2012:

https://citywire.com/funds-insider/news/dont-be-fooled-by-these-misleading-savings-account-names/a559234

I never knew.  I didn't look at anything below 3.25% in 2012.

It launched back in 2007 when it paid 6%

https://forums.moneysavingexpert.com/discussion/582168/hsbc-online-bonus-saver/p1

allegro120

ForumUser7 said:

Principality BS Online Double Access Saver Issue 2 from 3.80%(?) -> 3.88% ~ source moneyfacts @soulsaver

It's on the website now. 3.88%, only two withdrawals per year allowed.

refluxer

Paragon Triple Access Savings Account (Issues 11 to 13) now at 3.75% AER (3.69% gross monthly)

Save between £1 to £500k. Rate drops to 0.75% on the 4th withdrawal.

https://www.paragonbank.co.uk/savings/triple-access-account

jaypers

This is going to sound like a really stupid question but why would anyone consider a limited access account that pays less interest than an unlimited easy access account? Paragon 3.75% for 3 withdrawals. Investec EA pays 3.82%. 

Do these Banks think we are stupid? They make an increase in what like seems a hope that people won’t shop around. Or perhaps people don’t. 

It’s a bit like Zopa increasing their 95 day pot to a level way below the completion. 

Sorry but it’s my current bug bear around savings interest rates at the moment. 

BooJewels

For me personally, it's not just about the bottom line number on the interest rate - there are other criteria that are important to me - like withdrawal limits, how many nominated accounts you can have, monthly interest etc.  There are many accounts I've disregarded because they don't meet my personal requirements.   So what might feel like a restriction to you, might be a useful feature to someone else.

happybagger

Indeed. For me, requiring a smartphone (which Investec does) is a restriction. For other people, it's essential (and for some, the only thing they need).

AmityNeon

BooJewels said:

For me personally, it's not just about the bottom line number on the interest rate - there are other criteria that are important to me - like withdrawal limits, how many nominated accounts you can have, monthly interest etc.  There are many accounts I've disregarded because they don't meet my personal requirements.   So what might feel like a restriction to you, might be a useful feature to someone else.

Those features are certainly important like-for-like, but the comparison was between limited access vs unlimited access, i.e. why someone would choose limited access at a lower rate compared to unlimited access at a higher rate.

susanann_2

Secure Trust Bank paying 3.88% not used them before. For a joint account they send an email to the second account holder with a link for them to fill out their details. Was concerned with this as never had this before with any bank does not feel very secure. Has anyone had the same thing happen. 

ranciduk

jaypers said:

This is going to sound like a really stupid question but why would anyone consider a limited access account that pays less interest than an unlimited easy access account? Paragon 3.75% for 3 withdrawals. Investec EA pays 3.82%. 

Do these Banks think we are stupid? They make an increase in what like seems a hope that people won’t shop around. Or perhaps people don’t. 

It’s a bit like Zopa increasing their 95 day pot to a level way below the completion. 

Sorry but it’s my current bug bear around savings interest rates at the moment. 

Why would you have a notice account @ 2.5% with Shawbrook - when their EA account pays 3.75%????