The Top Easy Access Savings Discussion Area

ForumUser7

RogerPensionGuy said:

The government is going on about savings rates rise too slowly and by not enough. 

Why don't they increase NS&I rates?

If indeed savings interest was generally increased like mortgage and other loan rates it would sure help achieve the plan of government and reduce spending helping inflation flatten and fall sooner.

In summary, it’s to do with competition and the unlimited protection of NS&I deposits

jak22

mayweather said:

So moved money from shawbrook at 1:00am this morning, still nothing  received , balance debited immediately at the time though.

Regardless of how early in the morning it was requested the transfer will occur next working day - this is mentioned https://help.shawbrook.co.uk/hc/en-gb/articles/5600849314322-When-will-I-receive-my-withdrawn-funds- and a few pages back - and not early in the day either.

iNeed2P

soulsaver said:

I've had a few suggestions/requests to start a separate 'No Chat' thread, as the ToTP list gets drowned in 'chat' in the 'Top EA discussion' thread.

The aim is to maintain an easy-to-find ranked list of the Top 10 or so, available Easy Access accounts, with links.

The purpose of this thread is to ONLY REPORT on  the top available Easy Access accounts and the list will be always easy to find as it's anchored on page one.

There is already a hugely popular 'discussion' thread: The Top Easy Access Savings Discussion Area  — MoneySavingExpert Forum

It would be great if people continued to engage in the related discussion over there, keeping this thread clear, purely for reporting.

Key: NLA = No Longer Available; WEF =With Effect From (date); EA - Easy Access; O/l =Online; Tri = Triple Access; DBL = Double Access; EPR = Expected Profit Rate (Sharia)

Happy hunting, trappers.  

Has it ever been anchored onto page one?

housebuyer143

mayweather said:

So moved money from shawbrook at 1:00am this morning, still nothing  received , balance debited immediately at the time though.

I don't think you can hold it against shawbrook for not moving your money at 1am...
Lots of companies and building societies only process payments in working hours.

simon_or

kaMelo said:

The problem only exisrs if you don't believe in a free market economy. Hunt's comments sums up the problem with the current Government, they are interventionists not Conservatives.

Quite frankly the last thing I want is a political solution to a non problem as it will no doubt be half arsed and full of unintended consequences.

Tbf the big/mega banks are more of a glorified utility than a free market business.

Heavily regulated, too big to fail, underpinned by implicit government/taxpayer guarantees and a business model essentially predicated on the expectation that they will be bailed out by the government/taxpayer or central bank when in trouble.

It's not just the UK, it's pretty similar across the entire western banking system in a party agnostic manner. No one's really been able to solve this conundrum.

I don't think there's an easy way to guarantee that big banks will pass on base rate rate hikes, perhaps they could make banks send out periodic updates to their customers highlighting the market leading FSCS protected savings rates available with other providers. That might encourage more people to switch and thus force the big banks to pay more to retain customers.

RogerPensionGuy

I think the big old banking outfits just know plenty of their loyal customers don't tend to keep moving money about so they endeavour to pay as least as possible. 

A good example is lots of cash parked in mini cash ISAs tend to get low rates as the banks see it as a pretty captive cash pot and people are slow to hop around trying to get best rates.

Also plenty of people just don't like switching cash all over the place especially with all the scams in full swing and only getting more and more as time goes by.

janusdesign

jak22 said:

mayweather said:

So moved money from shawbrook at 1:00am this morning, still nothing  received , balance debited immediately at the time though.

Regardless of how early in the morning it was requested the transfer will occur next working day - this is mentioned https://help.shawbrook.co.uk/hc/en-gb/articles/5600849314322-When-will-I-receive-my-withdrawn-funds- and a few pages back - and not early in the day either.

also, either after you login and certainly when you make a withdrawal (as I did yesterday morning), it clearly states that any withdrawals made after 9:30pm on a Friday should be in your nominated account on Tuesday.

System

This discussion was created from comments split from: Top Easy Access acs Ranked: Top of The Pots - **No Chat**.

mayweather

housebuyer143 said:

mayweather said:

So moved money from shawbrook at 1:00am this morning, still nothing  received , balance debited immediately at the time though.

I don't think you can hold it against shawbrook for not moving your money at 1am...
Lots of companies and building societies only process payments in working hours.

It wasn’t processed yesterday, spoke to shawbrook today and they said 48 hours for a withdraw….don’t honk I’ll bother using them again tbh.

Barkin

mayweather said:

housebuyer143 said:

mayweather said:

So moved money from shawbrook at 1:00am this morning, still nothing  received , balance debited immediately at the time though.

I don't think you can hold it against shawbrook for not moving your money at 1am...
Lots of companies and building societies only process payments in working hours.

It wasn’t processed yesterday, spoke to shawbrook today and they said 48 hours for a withdraw….don’t honk I’ll bother using them again tbh.

You requested the withdrawal prior to the cutoff on 26th. It wasn't over a weekend, so It should be complete by midnight the next day (27th, today) just like it says in their documentation.