The Top Easy Access Savings Discussion Area

jaypers

My predictions for today (strictly personal thoughts)……….

1) Charter will announce an increase on closed accounts in line with whatever base rate increase is. Could mean some easy access going to 4.25% if BOE increase is 0.5%
2) Zopa will make some sort of move at EOD
3) Chase will bump their savings rates but suspect will be something like 3.75%
4) Atom…….absolutely nothing!!!

Goung to be an interesting day and busy forum.

mlc2009

jaypers said:

My predictions for today (strictly personal thoughts)……….

1) Charter will announce an increase on closed accounts in line with whatever base rate increase is. Could mean some easy access going to 4.25% if BOE increase is 0.5%
2) Zopa will make some sort of move at EOD
3) Chase will bump their savings rates but suspect will be something like 3.75%
4) Atom…….absolutely nothing!!!

Goung to be an interesting day and busy forum.

Do they act that quick? If I recall after past few boe increases we got no announcements for a few weeks. 

jaypers

mlc2009 said:

jaypers said:

My predictions for today (strictly personal thoughts)……….

1) Charter will announce an increase on closed accounts in line with whatever base rate increase is. Could mean some easy access going to 4.25% if BOE increase is 0.5%
2) Zopa will make some sort of move at EOD
3) Chase will bump their savings rates but suspect will be something like 3.75%
4) Atom…….absolutely nothing!!!

Goung to be an interesting day and busy forum.

Do they act that quick? If I recall after past few boe increases we got no announcements for a few weeks. 

I would be amazed if Charter don’t put their usual notice up on their website today. Seems to be their process now on rate review day. I also do think that the others mentioned have been waiting for today to act. Not like the 0.5% increase is going to be a surprise, which personally I think is the wrong course of action in this supply based inflationary period, but that’s another discussion for a different forum! 

VNX

MiserlyMartin said:

VNX said:

I understand continually moving monies to chase the best EA rates can be a little time consuming it’s no biggie. 

It’s all very individual some will move accounts for a 0.1-0.3% gain, and that’s either because their balance is high or they just do it out of principal and whatever each of us decide is right for us.

what I’m not as sure on is why some seem to aggrieved at certain institutions not passing in rate raises. 

Every lender has their own goals and criteria for how much money they need and want to bring in at any one time based on what they need the money for. If an institution isn’t upping rates it’s easy as pie to switch 

The point is that we shouldn't have to keep switching. They get us in on a good rate, then don't raise the rates even though the BoE rate has moved up 1% in some cases, eg Virgin Money

But we live in a free market economy. Unless you have one state run bank you will always have varying mortgage and savings rates. If everyone is forced to offer the same savings rates at all times then all lenders would have to offer the same one mortgage rate too. 

allegro120

TiVo_Lad said:

ForumUser7 said:

soulsaver said:

Maybe a busy day ahead...?

Fingers crossed - hoping YBS and Coventry will announce their increases on the day again. Easy Access competition is mad right now, hoping to see similar levels of activity in the regular saver thread too!

Hanley EBS Branch Saver will likely be increasing 1st July - hoping for 5.00% (a 50 basis point bank base rate increase)

YBS certainly need to. The Rainy Day A/C is looking seriously off the mark.

Last time they announced the increase 1 day after BoE meeting.  I'll wait until Monday before using up my 1st withdrawal allowance in case they will raise rainy day to a competitive level (they did each time it in the past, that's why I still keep £5k there). The one with restrictions should be higher than no strings attached account so it has to be more than 4.1%, otherwise there's no point keeping money there.

Freedommm

Applied to open Oxbury EA savings account at 4.11%. But not received anything. How long do they take to respond with an outcome? Oh and I hope they don't do a hard credit check that can affect credit rating. 

wiseonesomeofthetime

Freedommm said:

Applied to open Oxbury EA savings account at 4.11%. But not received anything. How long do they take to respond with an outcome? Oh and I hope they don't do a hard credit check that can affect credit rating. 

There is no credit check for savings accounts.

Freedommm

wiseonesomeofthetime said:

Freedommm said:

Applied to open Oxbury EA savings account at 4.11%. But not received anything. How long do they take to respond with an outcome? Oh and I hope they don't do a hard credit check that can affect credit rating. 

There is no credit check for savings accounts.

I thought so, but something like Coventry and Chase did those checks, perhaps soft ones and declined. My understanding was that an address I used was previously used by someone with a poor rating. 

Sg28

Freedommm said:

wiseonesomeofthetime said:

Freedommm said:

Applied to open Oxbury EA savings account at 4.11%. But not received anything. How long do they take to respond with an outcome? Oh and I hope they don't do a hard credit check that can affect credit rating. 

There is no credit check for savings accounts.

I thought so, but something like Coventry and Chase did those checks, perhaps soft ones and declined. My understanding was that an address I used was previously used by someone with a poor rating. 

They will only do ID checks. Which dont show to any third party's or effect your score. 

Someone else at the same address with poor credit wont effect you.

Bigwheels1111

Freedommm said:

wiseonesomeofthetime said:

Freedommm said:

Applied to open Oxbury EA savings account at 4.11%. But not received anything. How long do they take to respond with an outcome? Oh and I hope they don't do a hard credit check that can affect credit rating. 

There is no credit check for savings accounts.

I thought so, but something like Coventry and Chase did those checks, perhaps soft ones and declined. My understanding was that an address I used was previously used by someone with a poor rating. 

I applied for Coventry last year and got back I need to send loads of forms as id.

I called as this had never been asked for before by the 30/40 accounts I have.

Turns out their system had not run the checks on me.

3 mins later my account was up and running.

Call and ask