The Top Easy Access Savings Discussion Area

Bobblehat

Futuristic said:

Bobblehat said:

I got slightly excited when I got 2 similar emails from Coventry today, thinking there was another (2nd) increase! But then I realised that we were informed of these rises already, here on this forum & topic, back on 29th June (would you believe as far back as page 1445!). The poster put links to Coventry's webpages for anyone to read ..... so, no double increase, just Coventry making good opportunities for advertising via email!

It's a account rate change notification thats sent out just like any other provider, hardly advertising. Do you expect every customer to read MSE & their website every day? 

Could sending notification twice (12 days apart as mentioned by grumbler) possibly confuse someone in thinking the rates were to be raised twice? It's not as if rate rises are few and far between these days. OK. I admit it  ..... they got me excited for a few seconds!

S_uk

A payment I made into my Newcastle BS account has just cleared and I noticed it has the date of 5/7 (tomorrow) but the payment description says "Faster Payment Posted: 04/07/2023". Will interest still apply from the 4th even though it's dated the 5th? And if it's cleared this evening into the account, why has it got tomorrow's date?

allegro120

Bobblehat said:

Email from CBS

I got slightly excited when I got 2 similar emails from Coventry today, thinking there was another (2nd) increase! But then I realised that we were informed of these rises already, here on this forum & topic, back on 29th June (would you believe as far back as page 1445!). The poster put links to Coventry's webpages for anyone to read ..... so, no double increase, just Coventry making good opportunities for advertising via email!

First email is to say "don't withdraw yet, we are on the case and there will be increase", the second is to reveal the new rates 

tg99

S_uk said:

A payment I made into my Newcastle BS account has just cleared and I noticed it has the date of 5/7 (tomorrow) but the payment description says "Faster Payment Posted: 04/07/2023". Will interest still apply from the 4th even though it's dated the 5th? And if it's cleared this evening into the account, why has it got tomorrow's date?

Similar to me in that I wanted to test whether there was any cut off for deposits to count as starting to receive interest on the day of deposit so made a small deposit in middle of day around lunchtime and as expected shows on my account with the same day’s date. Also did one not long before midnight on 3rd and shows on my account with date of 4th but ‘posted 3rd’. I am guessing that the 4th reflects the date of processing and it being added to my account but the posting date of the 3rd reflects that it was actually received before midnight via faster payment and therefore would start to earn interest on the 3rd rather than 4th…..but don’t know this for sure.

liamcov

wiseonesomeofthetime said:

Skipton Tracker 3 to reach 4.10% on 3 July 2023

Other accounts here:

https://www.skipton.co.uk/-/media/skipton-co-uk/pdf/savings/changes-to-variable-accounts.ashx

Is this the 

Skipton Base Rate Tracker Account Issue 4 ??

liamcov

ForumUser7 said:

Skipton Tracker Account Issue 3 increase to 4.10% now in effect.

What about issue 4?

wiseonesomeofthetime

liamcov said:

wiseonesomeofthetime said:

Skipton Tracker 3 to reach 4.10% on 3 July 2023

Other accounts here:

https://www.skipton.co.uk/-/media/skipton-co-uk/pdf/savings/changes-to-variable-accounts.ashx

Is this the 

Skipton Base Rate Tracker Account Issue 4 ??

Did you look at the document in the link you quoted?

Issue 4 is BoE rate -1.10%

So, answer to your question is, unfortunately, no.

Issue 4 goes to 3.90% AER

2010

tg99 said:

S_uk said:

A payment I made into my Newcastle BS account has just cleared and I noticed it has the date of 5/7 (tomorrow) but the payment description says "Faster Payment Posted: 04/07/2023". Will interest still apply from the 4th even though it's dated the 5th? And if it's cleared this evening into the account, why has it got tomorrow's date?

Similar to me in that I wanted to test whether there was any cut off for deposits to count as starting to receive interest on the day of deposit so made a small deposit in middle of day around lunchtime and as expected shows on my account with the same day’s date. Also did one not long before midnight on 3rd and shows on my account with date of 4th but ‘posted 3rd’. I am guessing that the 4th reflects the date of processing and it being added to my account but the posting date of the 3rd reflects that it was actually received before midnight via faster payment and therefore would start to earn interest on the 3rd rather than 4th…..but don’t know this for sure.

From the T&C.
Please note: For all transactions, except cheques, interest will be paid from the date we receive the transaction.

Another point is, even if they get the money at say at noon, do you get interest for that day because they`ve not actually had it for 24 hours.
Also they calculate interest daily but is that at close of business or midnight?

Section62

Emails arriving from Ford Money confirming their Flexible Saver pays 4.25% (gross, annual) effective today.

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