The Top Easy Access Savings Discussion Area

[Deleted User]

jaceyboy said:

poppystar said:

I looked at Oxbury but it seemed to suggest to do anything you need to have both laptop and smartphone with you in order to get past security - have I interpreted that wrong? Can you just use their online site or just use an App? 

No you can just use the app if you wish, or just use online banking if you wish, when you log into online via laptop/pc etc if makes you verify using the app also so yes will need your phone with you...

Am I right in saying you need two devices to sign up?

masonic

jaceyboy said:

masonic said:

janusdesign said:

i've received same day withdrawals from them (but it was many hours) - so you may have to decide whether it's easier to have the flexibility of the instant access accounts with a slightly lower rate, or the slightly higher interest of Oxbury, but delayed withdrawals (or split between both).

personally, I only have £1k in the Oxbury EA, but will probably put more in next week - no point doing it now, as it wouldn't get processed until Monday anyway.

I'm not sure why you would think that. While withdrawals are only processed on working days, deposits seem to be 24/7. I sent one earlier today and received notification that it was credited within minutes.

Wonder if they start paying interest immediatley or has to be a working day?

The terms and conditions (or in this case the Product Summary document) will outline when interest is paid, so there is never any need to wonder. In this case (as with most accounts) it is it is calculated daily on the balance of your account. They are not future dating weekend transactions, either.

masonic

[Deleted User] said:

jaceyboy said:

poppystar said:

I looked at Oxbury but it seemed to suggest to do anything you need to have both laptop and smartphone with you in order to get past security - have I interpreted that wrong? Can you just use their online site or just use an App? 

No you can just use the app if you wish, or just use online banking if you wish, when you log into online via laptop/pc etc if makes you verify using the app also so yes will need your phone with you...

Am I right in saying you need two devices to sign up?

For sign-up you need a device with a camera to capture an on-screen image, so that would be a challenge without two devices. After this, you could use a web browser and app on the same device.

SAC2334

mayweather said:

Oxbury increased to 4.46, worth moving 85k from chip?

what are Oxbury like, instant access like chip? I really like the instantaneous access and transfer with chip 

That is what I will be doing if Chip don t move by next Friday .£85 k monthly Chip interest is £302  at 4.26 . Oxbury at 4.46 % is £316...This is monthly interest before tax.
£14 more a month is worth the time .

Stargunner

SAC2334 said:

mayweather said:

Oxbury increased to 4.46, worth moving 85k from chip?

what are Oxbury like, instant access like chip? I really like the instantaneous access and transfer with chip 

That is what I will be doing if Chip don t move by next Friday .£85 k monthly Chip interest is £302  at 4.26 . Oxbury at 4.46 % is £316...This is monthly interest before tax.
£14 more a month is worth the time .

Certainly worth it on that amount of money. Can you not shelter some from tax or have you already done that for this tax year?

ForumUser7

For those of us who have Coventry BS Four Access Saver 1 and 2, which one would be best to prioritise funding please?

1. 2, because rate increases are likely to put 1 above 2 based on previous Coventry behaviour. This would mean any withdrawals in the meantime would not detract from the long term account
2. 1, because if funds were in 2 and 1 went higher and funds were transferred out from 2 to 1, it'd waste a withdrawal on 2.

I'm leaning towards funding issue 1, but can't make my mind up

RosieRooBear

I’ve got both the Coventry BS Four Access Savers and having the same dilemma, but like you have been leaning towards funding issue 1. Personally, I’m thinking of leaving funds in an easy access account as only 0.2% lower then Coventry, and waiting until the next interest rate decision as not long to go, and see what Coventry do with their rates afterwards

Freebird53

BooJewels said:

Freebird53 said:

FindingBBob said:

BooJewels said:

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.

I am like you. I dont have the time to constantly move money about, or faff around with different account opening requirements. Keep my money in constantly competitive providers where i dont have to jump from issue to issue.. 

My thoughts exactly, which is why i'd been wondering for a long time, why banks & BS's did not appear to offer base rate trackers.

Some do - about half my EA money is with the first version of the Skipton Base Rate Tracker, at 0.9% below BR.  They then did a new issue at 1.1% below and the new Newcastle one is I think 0.7% below - hence the flurry of activity here to sign up for that account.

Hence why I said 'did not'

david72

ForumUser7 said:

For those of us who have Coventry BS Four Access Saver 1 and 2, which one would be best to prioritise funding please?

1. 2, because rate increases are likely to put 1 above 2 based on previous Coventry behaviour. This would mean any withdrawals in the meantime would not detract from the long term account
2. 1, because if funds were in 2 and 1 went higher and funds were transferred out from 2 to 1, it'd waste a withdrawal on 2.

I'm leaning towards funding issue 1, but can't make my mind up

To be pedantic, you presumably mean the Coventry Four Access Saver (Online) accounts, as there is still an older Four Access Saver account (NLA) which many members have, and which pays a good rate of interest and was always regularly increased whenever Coventry increased rates (It now pays 4.3% compared to the newer Online accounts' 4.5%, so is no longer their best rate for this sort of account. However, it is/was useful to retain on the basis of having more than one of these sorts of accounts so that you could effectively increase the number of potential withdrawals available to you). Many bsocs and banks have all sorts of similarly named accounts, in a form of 'confusion marketing', so sometimes you do need to be quite specific when referring to an account name!  

From the recent history of the various issues of the similar Limited Access Saver (Online) accounts (which allow 6 wdr/yr rather than 4), it does seem, as you say, that sometimes Coventry increase the interest rates for older issues of an account more than for the newest issue (presumably to reward more longstanding loyal members a little more), and this was the case for several of the recent rate rises, but on the most recent rise the interest rate for all of the most recent issues of the LASO accounts was made the same.

I expect you might be right that similar will apply to the 4ASO accounts, with issue 1 possibly (still?) getting priority for rate rises, although as both are currently the same they may both have reached the stage in their lifespan where they decide to treat them the same. So my guess would be to possibly prioritise issue 1 for funds that you have lower intention of withdrawing, but it may no longer make any difference for these specific accounts now?

simonsmithsays

david72 said:

ForumUser7 said:

For those of us who have Coventry BS Four Access Saver 1 and 2, which one would be best to prioritise funding please?

1. 2, because rate increases are likely to put 1 above 2 based on previous Coventry behaviour. This would mean any withdrawals in the meantime would not detract from the long term account
2. 1, because if funds were in 2 and 1 went higher and funds were transferred out from 2 to 1, it'd waste a withdrawal on 2.

I'm leaning towards funding issue 1, but can't make my mind up

To be pedantic, you presumably mean the Coventry Four Access Saver (Online) accounts, as there is still an older Four Access Saver account (NLA) which many members have, and which pays a good rate of interest and was always regularly increased whenever Coventry increased rates (It now pays 4.3% compared to the newer Online accounts' 4.5%, so is no longer their best rate for this sort of account. However, it is/was useful to retain on the basis of having more than one of these sorts of accounts so that you could effectively increase the number of potential withdrawals available to you). Many bsocs and banks have all sorts of similarly named accounts, in a form of 'confusion marketing', so sometimes you do need to be quite specific when referring to an account name!  

From the recent history of the various issues of the similar Limited Access Saver (Online) accounts (which allow 6 wdr/yr rather than 4), it does seem, as you say, that sometimes Coventry increase the interest rates for older issues of an account more than for the newest issue (presumably to reward more longstanding loyal members a little more), and this was the case for several of the recent rate rises, but on the most recent rise the interest rate for all of the most recent issues of the LASO accounts was made the same.

I expect you might be right that similar will apply to the 4ASO accounts, with issue 1 possibly (still?) getting priority for rate rises, although as both are currently the same they may both have reached the stage in their lifespan where they decide to treat them the same. So my guess would be to possibly prioritise issue 1 for funds that you have lower intention of withdrawing, but it may no longer make any difference for these specific accounts now?

They both pay 4.5%