The Top Easy Access Savings Discussion Area

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

alrk

Which instant accounts / sources really are INSTANT

i have found santander to and from chip very very fast

cwep2

Almost no savings accounts matched the last 0.5% BoE increase - we saw a few raise by 0.25% and eventually the best rate a couple of weeks after nudged up by about 0.35% vs best rate a week before.

Whilst a BoE increase of at least 0.25% is expected, if they do raise by 0.5% I don't expect any (apart from the trackers) to match it in the next few days. It is competition between them that drives rates higher as much as anything else and last time there almost seemed a gentleman's agreement to not go too high.

sheslookinhot

I keep expecting / hoping Tesco increase their rate of 3.45% on the Internet Saver, if no movement in a few days then I’ll be moving savings elsewhere 

jaceyboy

ranciduk said:

Just waiting on Shawbrook reaching 4%+ now

cant believe the account was paying 0.89% when I opened it about a year or so ago!

Pinch me 😳

Shawbrook have been pretty good in the past at raising rates promptly, hopefully there Easy Access will rise to over 4% soon

AmityNeon

alrk said:

Which instant accounts / sources really are INSTANT

i have found santander to and from chip very very fast

Chip currently pays the highest rate of the unrestricted instant accounts. Atom, Chase, and any of the high street banks all provide instant accounts too. Marcus isn’t reliably instant over the weekend, and Kroo is known to persistently hold innocuous payments for review.

Other providers have delays ranging from minutes to days.

Rudyson

Bigwheels1111 said:

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

I had exactly the same experience with my first Coventry account, a quick phone call and the account was opened in seconds.

Rheumatoid

0.5 as expected

Kazza242

Bank of England base rate has increased to 5.00%