The Top Easy Access Savings Discussion Area

wiseonesomeofthetime

AndyTh_2 said:

https://www.ybs.co.uk/documents/productdata/YBM1607RC.pdf shows the upcoming changes to YBS now

generally only available to open accounts got the update today, the no longer available accounts getting them 7th July

Thanks, though the effective date is the day before, Thursday 6 July 

Krakkkers

So where is the promised Fordmoney rise?

Krakkkers

Oh, it only shows when you log in. 

Freedommm

Ford Money - applied and opened account last week. Updated address on Friday and requested their "authentication letter"
[EDIT 15:00. Received and authenicated]

But the rate is falling behind others now. 

trooperdore

I applied for the Newcastle account yesterday morning and got the send ID email.  Out of curiosity I tried again last night and the account was open within a few minutes with no ID check needed. 

It might just be random luck, but the things I did differently were: 1) put the deposit amount at 50k instead of £1, thinking they might be more lenient on larger balances, 2) included my middle name to match up with my nominated account, and made sure there were spaces between the initials as their example showed. Whatever the reason, hey ho, it worked. 

ForumUser7

trooperdore said:

I applied for the Newcastle account yesterday morning and got the send ID email.  Out of curiosity I tried again last night and the account was open within a few minutes with no ID check needed. 

It might just be random luck, but the things I did differently were: 1) put the deposit amount at 50k instead of £1, thinking they might be more lenient on larger balances, 2) included my middle name to match up with my nominated account, and made sure there were spaces between the initials as their example showed. Whatever the reason, hey ho, it worked. 

Glad to hear it has worked - but there will be no leniency on higher balances, if anything they should be stricter. Could be:

1. Luck
2. Perhaps they hadn't electronically searched the first time (sometimes happens with Coventry due to a glitch)
3. Perhaps the middle name helped

Arthurian

trooperdore, I tried to open the Newcastle account yesterday, too.  Can you see the balance of your account yet?  I was going to fund mine with a substantial deposit, but when I realised the opening process was not going to allow me to get into my account online until I had received an account number by post, I just sent an initial £1 to test the waters. I can't see that £1 yet, and am waiting for my account number to arrive.  I have been given a user ID, which allows me to set savings goals for my account, should I want to.

Section62

tg99 said:

My Santander esaver now showing 3.75% up from 3.25%. Assume this updated overnight unless I missed it previously.

Mine was still at 3.25% about 11:30pm last night, so I think you are right about it happening overnight.

housebuyer143

Arthurian said:

trooperdore, I tried to open the Newcastle account yesterday, too.  Can you see the balance of your account yet?  I was going to fund mine with a substantial deposit, but when I realised the opening process was not going to allow me to get into my account online until I had received an account number by post, I just sent an initial £1 to test the waters. I can't see that £1 yet, and am waiting for my account number to arrive.  I have been given a user ID, which allows me to set savings goals for my account, should I want to.

I applied at 10am yesterday, I got the email, 3 hours later with log in info and account number is on the app then you press "pay in", then sent over £1. It was in there about 4pm yesterday.

No ID check but I need to wait for nominated account code in the post before I can withdraw.

grumbler

uptdale said:

grumbler said:

loko2468 said:

spider42 said:You can choose whether you want monthly or annual when you open the account.

Thanks - in that case why would anyone chose annual over monthly? Doesn't seem there are any benefits?

If it's monthly and you don't withdraw interest the annual result is the same as if it's annual interest.

Some people prefer to see or withdraw interest monthly.

The result is the same if you keep the account open for 12 months and the annual interest is paid in 12 months time.  If you close earlier, you'd get a bit more interest opting for annual interest because you'd get the annual interest rate on closure. 

I think you are mistaken. Both monthly and yearly interests are calculated daily.