The Top Easy Access Savings Discussion Area

AmityNeon

susanann_2 said:

AmityNeon said:

susanann_2 said:

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. 

What security concerns do you have?
(Are you sure it's 3.88%?)

Apologies typing too quick 3.85% must have been wishful thinking.

Security concern is link for second applicant on the account a link is sent to their email to click and fill it in. Never had this with any other saving account clicking links in emails just sounds a little insecure.

The NatWest Group does this when adding a person to a current account; the second applicant is sent a genuine email from NatWest/RBS, which contains a link to 'Get started' directing them to a genuine website to complete the process. Monzo's login process from new devices requires clicking on a link sent in an email.

Clicking links in emails isn't inherently dangerous. If you're ever concerned about a link, you can always use https://urlscan.io/ to perform a deep scan of the link first.

FishInGlass

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. 

Maybe someone doesn't have a spare £5000 to hand. Ford might suit them better if they don't want a limited access account.

poppystar

refluxer said:

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

Wish they’d done that before I’d opened an issue 13 and moved the contents of 12 over as they hadn’t previously updated 12 to match🙄. 

fourmarks

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. 

Probably the biggest reason is that people don't shop around, certainly not with the fervent zeal of contributors to this forum.

Many will also feel that small differences, in this case 0.07%, are not worth faffing about with, especially in the current climate when todays top deal is to-morrows 5th place. 

Plus, if you are fortunate enough to have cash reserves in excess of £85k (house equity perchance), then you may be looking for a lot more than the single top paying account in which to park your treasures.

wiseonesomeofthetime

I-LOV-MONEY said:

Hi guys.   Firstly thank you all for the work you do for this forum.  Some of you seem to work 24/7!  

My 'problem' is there is too much information and often it changes day by day (if not hour by hour!). I dread when there is a Bank Rate change as I know that is going to start another chain of "this one...that one"!!    I don't have a lot of free time to keep moving my money from one account to another.  At present I am with Marcus and Santander (e-saver).    I am a person of simple needs.  I just need somewhere to park money at a 'reasonable' rate of interest and can access it as and when I need it (normally to pay bills).

Maybe I should unsubscribe from receiving e-mails from this forum, and just look in when I have some time available and see what is going, knowing this could change within 24 hours.

Thank you for reading my 'moan'.   I love you all !!!!!

@I-LOV-MONEY

Perhaps check out here instead: https://forums.moneysavingexpert.com/discussion/6392978/top-easy-access-acs-ranked-top-of-the-pots-no-chat

allegro120

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. 

Not a stupid question. People have different needs, different attitudes to savings, different banking styles/preferences, different budgets etc.

It has been very hectic since spring last year.  New better offers come monthly, weekly, daily and sometimes hourly. Can't complain, but I'm getting a bit tired moving money around and for now decided to avoid opening any new EAs with caveats unless they offer the rate that I believe won't be beaten in the next few months. I don't want any more accounts with limited access, minimum operating balances, restricted withdrawals, posting letters, receiving cheques, next working day deliveries and so on for a sake of 0.1% more interest that I already getting from my EA pot.  For example, I can open Principality double access (3.88%), move money there and then Chip will raise to 3.9% tomorrow so I will be closing it or withdrawing leaving £1 there for a chance that it will go up one day - too much hassle for me.  I might put £10k in HSBC OBS on the 8th if nobody offers any better, but that's only because I already have it opened.

Barkin

allegro120 said:

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. 

Not a stupid question. People have different needs, different attitudes to savings, different banking styles/preferences, different budgets etc.

Indeed. I don't keep huge amounts in EA accounts, and reshuffling things every few days in order to get an additional 3 quid/year just isn't good use of my time. 

ranciduk

allegro120 said:

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. 

Not a stupid question. People have different needs, different attitudes to savings, different banking styles/preferences, different budgets etc.

It has been very hectic since spring last year.  New better offers come monthly, weekly, daily and sometimes hourly. Can't complain, but I'm getting a bit tired moving money around and for now decided to avoid opening any new EAs with caveats unless they offer the rate that I believe won't be beaten in the next few months. I don't want any more accounts with limited access, minimum operating balances, restricted withdrawals, posting letters, receiving cheques, next working day deliveries and so on for a sake of 0.1% more interest that I already getting from my EA pot.  For example, I can open Principality double access (3.88%), move money there and then Chip will raise to 3.9% tomorrow so I will be closing it or withdrawing leaving £1 there for a chance that it will go up one day - too much hassle for me.  I might put £10k in HSBC OBS on the 8th if nobody offers any better, but that's only because I already have it opened.

If you put £10k in the HSBC OBS - once you get your first interest payment it will take you over £10k - so from month two , you won’t get 4%??

PowerSavingMode

I-LOV-MONEY said:

Hi guys.   Firstly thank you all for the work you do for this forum.  Some of you seem to work 24/7!  

My 'problem' is there is too much information and often it changes day by day (if not hour by hour!). I dread when there is a Bank Rate change as I know that is going to start another chain of "this one...that one"!!    I don't have a lot of free time to keep moving my money from one account to another.  At present I am with Marcus and Santander (e-saver).    I am a person of simple needs.  I just need somewhere to park money at a 'reasonable' rate of interest and can access it as and when I need it (normally to pay bills).

Maybe I should unsubscribe from receiving e-mails from this forum, and just look in when I have some time available and see what is going, knowing this could change within 24 hours.

Thank you for reading my 'moan'.   I love you all !!!!!

The following forum is a 'no chat' forum that might be best suited to you:

https://forums.moneysavingexpert.com/discussion/6392978/top-easy-access-acs-ranked-top-of-the-pots-no-chat/p30

Wheres_My_Cashback

ranciduk said:

allegro120 said:

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. 

Not a stupid question. People have different needs, different attitudes to savings, different banking styles/preferences, different budgets etc.

It has been very hectic since spring last year.  New better offers come monthly, weekly, daily and sometimes hourly. Can't complain, but I'm getting a bit tired moving money around and for now decided to avoid opening any new EAs with caveats unless they offer the rate that I believe won't be beaten in the next few months. I don't want any more accounts with limited access, minimum operating balances, restricted withdrawals, posting letters, receiving cheques, next working day deliveries and so on for a sake of 0.1% more interest that I already getting from my EA pot.  For example, I can open Principality double access (3.88%), move money there and then Chip will raise to 3.9% tomorrow so I will be closing it or withdrawing leaving £1 there for a chance that it will go up one day - too much hassle for me.  I might put £10k in HSBC OBS on the 8th if nobody offers any better, but that's only because I already have it opened.

If you put £10k in the HSBC OBS - once you get your first interest payment it will take you over £10k - so from month two , you won’t get 4%??

That s why you should only put £9.5K to £9.8K in it depending how long you need the funds in there.