The Top Easy Access Savings Discussion Area

SeriousHoax

It would be nice if chip gave us a boost today.😎

TiVo_Lad

I think the problem for CHIP is that average rates are getting closer to the Base Rate which means their profit margin is getting squeezed. Having an Instant Access product makes the funds very flighty, so the only way they can keep funds is to keep the rates higher which are less profitable. It's basically where their business model starts to fall apart. We've seen Atom and Zopa drop out of the Instant Access market and move more into Bonds and more restricted products. I can see CHIP going the same way.

jaceyboy

SeriousHoax said:

It would be nice if chip gave us a boost today.😎

More chance of Sinner beating Djok than that

TiVo_Lad

t33 said:

Leeds BS Online Access Account Issue 47 4.40%

I just noticed this today by accident when logging in.   Done without announcement?  Thought Leeds usually gave notice.  Good one though.

Gawd bless 'em. They were in my sights for the Monday cull but have earned themselves a (small) reprieve!

FindingBBob

Ford Money going up again next week.. Linkedin Post 

BooJewels

Woohoo!  That's good with Ford.  I see they've added an 18 month fixed saver since yesterday too.

FindingBBob

BooJewels said:

Woohoo!  That's good with Ford.  I see they've added an 18 month fixed saver since yesterday too.

Yup they seem to be keeping themselves competitive at least, on less move I have to worry about, just need to chip to be a bit braver.. 

BooJewels

FindingBBob said:

BooJewels said:

Woohoo!  That's good with Ford.  I see they've added an 18 month fixed saver since yesterday too.

Yup they seem to be keeping themselves competitive at least, on less move I have to worry about, just need to chip to be a bit braver.. 

I'm not a habitual rate tart and don't bother moving money for rates (I admire those that have the nerve), but I am happy when the place I have it stays up there and holds its own.

friolento

Mr._H_2 said:

A note for any Santander customers wary of moving large amounts of money via their Santander account (i.e. using Santander CA as a "conduit" when chasing rates):

Santander's anti-fraud systems used to be rather "trigger happy" making it a bit of a pain - I would often get frozen out of my Santander account after setting up a new payee and trying to transfer a large amount, even when that new payee was in my own name. This would necessitate a phone call, often waiting in a long queue, and then having to go through the standard anti-fraud checklist with the customer support person before they OKed the transaction and re-enabled my access.

Anyway, lately this situation appears to have improved significantly, for me at least. I just opened a Coventry four-access account and transferred £14k from Chip via Santander. When setting up the payee in Santander, I was taken through a series of those standard “anti-fraud” questions inside the app (that’s a first for me), and then the payment went through just fine. I imagine that the fact that Coventry support COP and the account was in my name helped here.

Like you, I had a period of several weeks when Santander let all my many payments sail through without questions. I usually make the payments on the app, and Santander had started sending me OTPs for each payment, in addition to the questions about 3rd party involvement etc. I could live with that.

This afternoon, I wanted to shift my balance, low 5 digits, from Chip to Tandem, as fed up with Chip not raising their rate. For some time now, I have to use Faster Payments when moving money from Santander to Tandem as OB has stopped working for me between Tandem and Santander. I used the payee I had used on several previous occasions, I got my OTP from Santander, and completed the payment. The payment didn't show in the transaction list, and neither my available nor my pending balance had changed. No message from Santander, no block on my account. Nothing had arrived in Tandem, either. So I made the payment again. Same process, same result.

I then rang Santander Security who told me that their fraud system had canceled both my payments. They couldn't explain why they had not sent me any notification of the cancellation. After the usual inquisition - did anyone ask you to send the money, how long have you had the Tandem account, why are you sending the money, are you lying to us blah blah - they then offered to make the payment for me and it all went through fine. Another hour of my life wasted.

Eirambler

I gave up on Santander a few months ago because of the security hassle. I wouldn't go back to them now even if they were offering the best rate again, it's just not worth the effort. So the balance sits at zero and hopefully at some point they might notice that I've given up on them and just close the account. 

Wouldn't consider them for a current account now after my experience with them either.