The Top Easy Access Savings Discussion Area

Bridlington1

@soulsaver
Secure Trust Bank Access Account now pays 4.45%.

pepsi_max2k

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?

It gives you a popup notification in the app in advance, and then you click one button to confirm relinking it.

happybagger

[Deleted User] said:

TiVo_Lad said:

No authenticator app required. Just username (you choose), password (you choose) and passcode (you choose). I sent a Faster Payment deposit and it was in the account within a couple of minutes.

Revisiting this one, who are the main providers offering leading rates which allow online logging in without an authenticator? Leeds & Coventry BS come to mind?

YBS you need a mobile to receive a text.

Or a voice call to a landline or mobile number will do for YBS

10_66

Anyone tried making a postal withdrawal from Hanley (NLA) yet?  If so, how long did it take from sending postal request in, to when you received FP into nominated account, please?

PhilFox1985

cwep2 said:

boingy said:

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%.

Inflation still way above target. Before this data market was pricing either 0.25% or 0.50% with the latter much more likely. I would be gobsmacked if they don't hike by 0.25%, but think any more is very unlikely now.

This is the first piece of good news - previous readings had seen headline inflation fall but core inflation still increasing, this time core inflation fell (unexpectedly) but it is still 6.9% and remember this doesn't include food or energy (or rent/mortgage payments) so they still need to keep rates high and this is only one piece of data, we have two more CPI readings before the September BoE meeting so if they don't raise rates on 3rd August there could be egg on their faces if the next CPI readings are high. If they get 3 benign readings in a row then no change in September is fine rather than having to course correct for not raising rates in August and adding another 0.5%. There has (justifiably IMHO) been a lot of criticism that the BoE were too slow to react and raise rates at the start of the hiking cycle, which means they have to raise them higher at the end so they will want to avoid that situation as well.

The committee will absolutely be split, there are 2 voters (Dhingra and Tenreyro) who have voted against raising rates since December 2022 when rates were 3%, so I would expect a vote of 7-2 as the previous four meetings, but we may get one or two members (Mann?) voting for a bigger increase.

Either way gilt yields are down quite a bit today so we may have seen the peak in fixes, and it is possible that August is the peak in the Bank Rate for the UK.

I'm not 100%, but I think I heard that Tenreyro had completed her term.

That's likely to mean (on balance) a stronger concensus for rate hikes (I.e you may see 8-1 votes rather than 7-2).

Probably means relatively little at this point.

13zero8

It's a slow afternoon so I decided to count how many easy access savings accounts I have......

26 at the moment. 

Out of interest, how many do you lot have?

I try to close ones that I obviously won't use anymore as the rates are stupidly low. But even doing that I'm still left with loads, most with about in a quid in them, with rates around the low 4s.

redchiz

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 may have been the case when they paid a monthly "bonus" rather than interest, as they do on a more conventional basis now. 

25_Years_On

Bridlington1 said:

@soulsaver
Secure Trust Bank Access Account now pays 4.45%.

I see this a new issue - version 8 so all the version 7 holders need to open a new account I guess.

wiseonesomeofthetime

Bigwheels1111 said:

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.

Mine expires soon too.

As I fund using Faster Payment bank transfer (not Open Banking) and as I withdraw to debit card number, I do not see the necessity to renew the OB connection, although Chip intimate that I will not be able to conduct transactions if I do not.

Let me know how your's goes please. Mine expires in 8 days

Futuristic

You don't need to renew open banking with Chip unless you try to depoisit/withdraw. I certainly have left it expired for months without any issues.