The Top Easy Access Savings Discussion Area

razord

Bigwheels1111 said:

martinm1 said:

If you do ditch chip after 4th working day of month you don't get the interest.  Is that correct how I read their terms?  Just something to be aware of.

That’s not correct, I ditched Chip for Coventry last month. Then went back after Chips rate rise.
I got all the interest I was owed. I was board and had been taking screenshots every day to see 
my interest grow. I had a shot of the day I moved and the last day of the month.
The amount was correct when I got paid on the 06-07-23.

This will be if you fully close the account, not just reduce the balance to £0 or £1.

wiseonesomeofthetime

"Inflation in the UK dropped to 7.9% in the year to June from 8.7% in May, according to the Office for National Statistics." - BBC

Let's see what effect that has on decision making at the next BoE interest rate meeting in a few weeks' time.

Section62

Emails now arriving from Ford Money confirming the Flexible Saver increase to 4.35% (gross, annual) effective today.

boingy

wiseonesomeofthetime said:

"Inflation in the UK dropped to 7.9% in the year to June from 8.7% in May, according to the Office for National Statistics." - BBC

Let's see what effect that has on decision making at the next BoE interest rate meeting in a few weeks' time.

Slightly better than predicted but still stubbornly high. I think it will split the BoE committee but they'll still go for an increase, probably 0.25%.

cheesemason

wiseonesomeofthetime said:

"Inflation in the UK dropped to 7.9% in the year to June from 8.7% in May, according to the Office for National Statistics." - BBC

Let's see what effect that has on decision making at the next BoE interest rate meeting in a few weeks' time.

More likely to be a 0.25% rise now you would think. And we may not see much movement in savers rates until then as banks take stock

MichaelAP

With Chip; what happens when your linked bank is approaching the end of its connection. In other words, to maintain connection what must be done?

Bigwheels1111

MichaelAP said:

With Chip; what happens when your linked bank is approaching the end of its connection. In other words, to maintain connection what must be done?

I will let you know in a few days when mine ends.

Did not make any difference with Tandem.

TisMeBill

MichaelAP said

With Chip; what happens when your linked bank is approaching the end of its connection. In other words, to maintain connection what must be done?

They notify you it needs re-linking.

bertsilver

4justice2 said:

Ford up to 4.35% annual, 4.27% monthly from today. Not had the email but shows on app.

Its not bad but I'm moving from Ford, far to long for deposits and withdrawals.

TiVo_Lad

TiVo_Lad said:

[Deleted User] said:

TiVo_Lad said:

The money arrives very quickly, but it's in status pending subject to verification of the sending account. Whether this is because it's my first deposit and they do a manual verification, or this is standard practice for all deposits I can't say.

Ah - so this is where the interest only accruing on day 2 comes from? Or did someone refute that above.

Possibly. The initial deposit generated this instant secure message:

Dear TiVo_Lad,
Your DF Capital Savings Account - Initial Deposit Received
Account number: XXXXXXXX
This is to let you know that we’ve received and are processing your initial deposit for your Easy Access Account.
The interest rate on this account is 4.55% AER.
Please note, all payments are matched against your nominated account details when they are applied to your Savings account. We will contact you within 2 working days if we are unable to match the payment details. You may be asked to provide proof of bank account or the funds could be returned.

It suggests they always do a verification but maybe the intitial deposit triggers a more manual process?

Quick follow up. The deposit that I sent yesterday cleared whatever verification process DF Capital had. It's no longer showing as Pending and has been fully credited, dated yesterday (the date the deposit was sent). So it suggests in normal operation deposits are received and credited the same day.