The Top Easy Access Savings Discussion Area

wiseonesomeofthetime

Freebird53 said:

How do I bookmark so that it always shows the last (latest) page please?

In Chrome, I just hit the star button at the end of the URL bar.

You just need the saved URL to end: #latest

e.g. https://forums.moneysavingexpert.com/discussion/596724/the-top-easy-access-savings-discussion-area#latest

castle96

Bobblehat said:

castle96 said:

I transferred £000s from the ol to the new a/c. Left £1 in

If this comment was aimed towards TiVo_Lads query, I think the query was more about closing down an old account rather than just transferring funds. If your post was related to another (or none specifically), then I apologise in advance 

Yeah, forgot aboutt he interest ! £1400 !

Eirambler

RG2015 said:

Sg28 said:

Expotter said:

From The telegraph this morning:

"The Bank of England will raise interest rates to 5.75pc by the end of the year, traders are betting, as wages surged at their fastest pace on record outside of the pandemic.

Markets have fully priced in interest rates to rise over the Monetary Policy Committee’s next three meetings by 0.25 percentage points from their current level of 4.5pc.

Now traders are also increasing bets on the Bank raising rates by the same amount at the following two meetings in November and December, delivering a blow to mortgage payers.

If the rises come to pass, that would take borrowing costs to their highest level since November 2007."

https://www.telegraph.co.uk/business/2023/06/13/ftse-100-markets-news-live-ons-employment-figures-inflation/

There's an interesting bar chart in this article with rate predictions for anyone trying to use a crystal ball, but it might be just as accurate though.

I wonder if we will see 5%+ instant access by the end of the year?

We already have the instant access Barclays Rainy Day Saver at 5% for up to £5,000.

But other than gimmicky inflated rates for smaller amounts the best unlimited easy access is still less than 4%. So far it has been a case of "whatever rates are forecast, the outcome will be higher" due to the abject failure of the Bank of England to identify and address the extent of UK inflation. So 5% easy access on larger amounts is absolutely possible this year, possibly even higher than that.

RG2015

Eirambler said:

RG2015 said:

Sg28 said:

Expotter said:

From The telegraph this morning:

"The Bank of England will raise interest rates to 5.75pc by the end of the year, traders are betting, as wages surged at their fastest pace on record outside of the pandemic.

Markets have fully priced in interest rates to rise over the Monetary Policy Committee’s next three meetings by 0.25 percentage points from their current level of 4.5pc.

Now traders are also increasing bets on the Bank raising rates by the same amount at the following two meetings in November and December, delivering a blow to mortgage payers.

If the rises come to pass, that would take borrowing costs to their highest level since November 2007."

https://www.telegraph.co.uk/business/2023/06/13/ftse-100-markets-news-live-ons-employment-figures-inflation/

There's an interesting bar chart in this article with rate predictions for anyone trying to use a crystal ball, but it might be just as accurate though.

I wonder if we will see 5%+ instant access by the end of the year?

We already have the instant access Barclays Rainy Day Saver at 5% for up to £5,000.

But other than gimmicky inflated rates for smaller amounts the best unlimited easy access is still less than 4%. So far it has been a case of "whatever rates are forecast, the outcome will be higher" due to the abject failure of the Bank of England to identify and address the extent of UK inflation. So 5% easy access on larger amounts is absolutely possible this year, possibly even higher than that.

I don't see any gimmicky characteristics in an instant access savings account paying 5% on amounts up to £5,000.

I agree that it is not unlimited but it easily remains the best instant access saving rate for up to £5,000.

No other account comes anywhere near.

TheBanker

RG2015 said:

Eirambler said:

RG2015 said:

Sg28 said:

Expotter said:

From The telegraph this morning:

"The Bank of England will raise interest rates to 5.75pc by the end of the year, traders are betting, as wages surged at their fastest pace on record outside of the pandemic.

Markets have fully priced in interest rates to rise over the Monetary Policy Committee’s next three meetings by 0.25 percentage points from their current level of 4.5pc.

Now traders are also increasing bets on the Bank raising rates by the same amount at the following two meetings in November and December, delivering a blow to mortgage payers.

If the rises come to pass, that would take borrowing costs to their highest level since November 2007."

https://www.telegraph.co.uk/business/2023/06/13/ftse-100-markets-news-live-ons-employment-figures-inflation/

There's an interesting bar chart in this article with rate predictions for anyone trying to use a crystal ball, but it might be just as accurate though.

I wonder if we will see 5%+ instant access by the end of the year?

We already have the instant access Barclays Rainy Day Saver at 5% for up to £5,000.

But other than gimmicky inflated rates for smaller amounts the best unlimited easy access is still less than 4%. So far it has been a case of "whatever rates are forecast, the outcome will be higher" due to the abject failure of the Bank of England to identify and address the extent of UK inflation. So 5% easy access on larger amounts is absolutely possible this year, possibly even higher than that.

I don't see any gimmicky characteristics in an instant access savings account paying 5% on amounts up to £5,000.

I agree that it is not unlimited but it easily remains the best instant access saving rate for up to £5,000.

No other account comes anywhere near.

There's the fact that you can only open it if you also have a current account with two direct debits (or are happy to pay a £5 monthly fee) is a bit gimicky.

I think what we're talking about is a rate which doesn't require holding other products and doesn't quite a low maximum balance. We're a long way off those accounts paying 5%. 

RG2015

TheBanker said:

RG2015 said:

Eirambler said:

RG2015 said:

Sg28 said:

Expotter said:

From The telegraph this morning:

"The Bank of England will raise interest rates to 5.75pc by the end of the year, traders are betting, as wages surged at their fastest pace on record outside of the pandemic.

Markets have fully priced in interest rates to rise over the Monetary Policy Committee’s next three meetings by 0.25 percentage points from their current level of 4.5pc.

Now traders are also increasing bets on the Bank raising rates by the same amount at the following two meetings in November and December, delivering a blow to mortgage payers.

If the rises come to pass, that would take borrowing costs to their highest level since November 2007."

https://www.telegraph.co.uk/business/2023/06/13/ftse-100-markets-news-live-ons-employment-figures-inflation/

There's an interesting bar chart in this article with rate predictions for anyone trying to use a crystal ball, but it might be just as accurate though.

I wonder if we will see 5%+ instant access by the end of the year?

We already have the instant access Barclays Rainy Day Saver at 5% for up to £5,000.

But other than gimmicky inflated rates for smaller amounts the best unlimited easy access is still less than 4%. So far it has been a case of "whatever rates are forecast, the outcome will be higher" due to the abject failure of the Bank of England to identify and address the extent of UK inflation. So 5% easy access on larger amounts is absolutely possible this year, possibly even higher than that.

I don't see any gimmicky characteristics in an instant access savings account paying 5% on amounts up to £5,000.

I agree that it is not unlimited but it easily remains the best instant access saving rate for up to £5,000.

No other account comes anywhere near.

There's the fact that you can only open it if you also have a current account with two direct debits (or are happy to pay a £5 monthly fee) is a bit gimicky.

I think what we're talking about is a rate which doesn't require holding other products and doesn't quite a low maximum balance. We're a long way off those accounts paying 5%. 

I agree that is what the original poster meant although they did not say that. I also agree that a fully unrestricted 5% easy access account is unlikely in the near future.

However, I only have a Barclays account to get the 5% saver and the two DDs are ones I would pay anyway. I generally don't dip into it but have done so on occasion so it has been very useful.

Any finally, I love the idea of getting something from a bank without giving them anything.

Eirambler

That account is just a hook to get you onto their current account. The additional interest is the equivalent of a current account switch bribe that other banks offer. I don't class it as a genuine easy access savings account in that respect - they're still current around the 3.8% to 3.9% mark, but will no doubt be rising again in the coming weeks.

Zaul22

Opening a Coventry account has now become as massive faff involving mailing in an application form with photos of yourself holding your ID. No mention of just taking it into a branch. Last year I had an easy access account and it just opened online, there was none of this faff. Must be new KYC rules that have come in since then. 

masonic

Zaul22 said:

Opening a Coventry account has now become as massive faff involving mailing in an application form with photos of yourself holding your ID. No mention of just taking it into a branch. Last year I had an easy access account and it just opened online, there was none of this faff. Must be new KYC rules that have come in since then. 

I think you've just been unlucky this time. It is not the norm to have to do this.

Zaul22

oh yeh... just did the whole thing all over again and this time it opened the account. Odd.