The Top Easy Access Savings Discussion Area

Bridlington1

ForumUser7 said:

ircE said:

The forum will go down temporarily, we are told, at 2pm next Tuesday ahead of an upgrade. I'll be on holiday at the time (and hopefully not thinking about interest rates...) but do we have a contingency in case something goes wrong?

Where have you seen that?

https://forums.moneysavingexpert.com/discussion/6458292/the-forum-is-getting-a-new-look/p1

2010

aaj123 said:

Any decent tracker out there at the moment? I missed the recent BR-0.7% and only have the Skipton BR-1.1%.

Also, does Chase at 3.8% remain the highest paying 'proper account' that is truly instant access?

No Marcus is instant and increased rates today to 4%.

SonOfPearl

aaj123 said:

Any decent tracker out there at the moment? I missed the recent BR-0.7% and only have the Skipton BR-1.1%.

Also, does Chase at 3.8% remain the highest paying 'proper account' that is truly instant access?

Tesco Internet Saver is 4% and transfers out to my current account arrive instantly (within seconds).

Nick_C

aaj123 said:

...

Also, does Chase at 3.8% remain the highest paying 'proper account' that is truly instant access?

Kroo is 4.1%

If you haven't already opened a Kroo account, go via Top Cashback and get a free £15

allegro120

aaj123 said:

Any decent tracker out there at the moment? I missed the recent BR-0.7% and only have the Skipton BR-1.1%.

Also, does Chase at 3.8% remain the highest paying 'proper account' that is truly instant access?

Kroo pays 4.1%.

housebuyer143

Eirambler said:

Absolutely, it will only be a relatively small number of people that shift their savings around like this, most people will just have their few thousand of savings in the Nationwide or Nat West at 1% (if even that) and will have never heard or Shawbrook or Tandem etc.

I have a friend with £200k in the bank from a house sale. It's in her current account earning no interest and she also hasn't split it between banks for the protection...

Her response being it's too hard to move it. 

BooJewels

@housebuyer143  A few years ago when we came into some funds and went into the bank to make some changes and pay off the mortgage, the lady we saw advised to put everything except what you immediately needed into a savings account, just so that if your debit card was stolen or skimmed, the thief would be limited in how much they could steal from you.  So I've done it that way ever since - treat my bank savings account as the supply tank to my current account.  With the phone apps these days you can move it in seconds.  A thief wouldn't do very well from me.  So regardless of the interest lost, it's a major security risk for her.

aaj123

BooJewels said:

@housebuyer143  A few years ago when we came into some funds and went into the bank to make some changes and pay off the mortgage, the lady we saw advised to put everything except what you immediately needed into a savings account, just so that if your debit card was stolen or skimmed, the thief would be limited in how much they could steal from you.  So I've done it that way ever since - treat my bank savings account as the supply tank to my current account.  With the phone apps these days you can move it in seconds.  A thief wouldn't do very well from me.  So regardless of the interest lost, it's a major security risk for her.

How does a debit card allow large amounts to be stolen? They have fairly small cash withdrawal limits. 

BooJewels

aaj123 said:

BooJewels said:

@housebuyer143  A few years ago when we came into some funds and went into the bank to make some changes and pay off the mortgage, the lady we saw advised to put everything except what you immediately needed into a savings account, just so that if your debit card was stolen or skimmed, the thief would be limited in how much they could steal from you.  So I've done it that way ever since - treat my bank savings account as the supply tank to my current account.  With the phone apps these days you can move it in seconds.  A thief wouldn't do very well from me.  So regardless of the interest lost, it's a major security risk for her.

How does a debit card allow large amounts to be stolen? They have fairly small cash withdrawal limits. 

By buying expensive luxury goods, like jewellery and watches.  I don't know how they'd get around the PIN etc. but I'm not a thief.

Doctor_Who

aaj123 said:

BooJewels said:

@housebuyer143  A few years ago when we came into some funds and went into the bank to make some changes and pay off the mortgage, the lady we saw advised to put everything except what you immediately needed into a savings account, just so that if your debit card was stolen or skimmed, the thief would be limited in how much they could steal from you.  So I've done it that way ever since - treat my bank savings account as the supply tank to my current account.  With the phone apps these days you can move it in seconds.  A thief wouldn't do very well from me.  So regardless of the interest lost, it's a major security risk for her.

How does a debit card allow large amounts to be stolen? They have fairly small cash withdrawal limits. 

I use my debit card to transfer large sums to my stock broker. Admittedly, I am then sent to my online banking app to authorise the transaction. I don't know what the limit is for the extra authorisation step, but small debit card payments don't trigger it. You might get away with £100 to £1000 before the authorisation step is triggered.