The Top Easy Access Savings Discussion Area

Bridlington1

@soulsaver
Secure Trust Bank Access Account has just nudged up to 4.5% with the launch of Issue 8. 

EDIT: Also Cambridge BS Your Saver will rise to 4.4% from tomorrow.

janusd

it seems the Chorley BS (1 Withdrawal) 4.65% account has been pulled.

also, this won't reach the top rate options, but Dudley BS launched an Easy Access account yesterday paying 4.00% (min £250).

refluxer

The latest version of the Tesco Internet Saver is up to 4.35% (including a 12 month bonus).

This is obviously a little off the pace compared with the best available at the moment, but still substantially higher than the likes of other popular options such as Zopa or Atom and could be of interest to anyone already with the account who'd presumably want to switch to the latest issue.

I don't have this account myself any more, but one thing I do like about Tesco Bank in general is that payments in and out really are instant and, on the few occasions in the past where I've needed to speak to them, I've been able to get through to a human in minutes which is rare these days !

Rollinghome

Zopa_Trooper said:

 Surely not the time (yet) to fix?

Not necessarily.  When banks set their rate for a 12 month fix, they take into account rates over the whole period.   So it wouldn't be impossible for the base rate to rise next week, but for retail fixed rates to fall due to expectations for rates further down the line. In the meantime, you'd be missing out on the higher rate while waiting.

It's not an easy guess, which is why some people will be spreading their bets.

poppystar

Bridlington1 said:

@soulsaver
Secure Trust Bank Access Account has just nudged up to 4.5% with the launch of Issue 8. 

EDIT: Also Cambridge BS Your Saver will rise to 4.4% from tomorrow.

How do SecureTrust work on upgrading issue? Do you send a secure message, phone, or have to open a completely new account? 

linz

Thanks for the Ford Money info, opened an account last night as want a separate pot from Chip - funded with an initial £10 from linked account last night and transferred a bit more about an hour ago and it's not showing yet - for those who already have an account with Ford; how long do the incoming bank transfers usually take? I'm used to instant payments like Chase, Chip  Thanks!

ircE

So I've been meaning to look at this for a while, and I figured it might be of interest to others based on @refluxer's tip off on Tesco Bank today but also earlier discussions around "what do we actually mean by easy access accounts" (@Hattie627 etc).

The first section shows soulsaver's top pots as they currently stand. 

The second section shows the top rates for what I've referred to as "True EA": easy access savings accounts that have no minimum balances and allow unlimited withdrawals. 

The third section shows the top "True EA" accounts that also allow instant access, by which I mean the providers advertise deposit and withdrawal times as being up to 2 hours but usually less than this, 24/7.

Some observations that jumped out to me: 

* competition is cut-throat to be the top rate, but more segmented for the rest, and at the cost of access/minimum balances

* Chip is likely to remain popular even not being in the top spot

* recent decisions from Tandem, Tesco and Kroo make much more sense considering their access and their part of the market

* the new digital banks that attracted savers (and current account holders!) with their erstwhile high interest rates might have decided they are comfortable enough where they are now, relatively speaking

Anyway, would be interested to see what others think and if I've missed anything obvious.

13zero8

linz said:

Thanks for the Ford Money info, opened an account last night as want a separate pot from Chip - funded with an initial £10 from linked account last night and transferred a bit more about an hour ago and it's not showing yet - for those who already have an account with Ford; how long do the incoming bank transfers usually take? I'm used to instant payments like Chase, Chip  Thanks!

In my experience deposits have always taken somewhere between 1 to 3 hours to show in my Ford account.

refluxer

linz said:

Thanks for the Ford Money info, opened an account last night as want a separate pot from Chip - funded with an initial £10 from linked account last night and transferred a bit more about an hour ago and it's not showing yet - for those who already have an account with Ford; how long do the incoming bank transfers usually take?

Faster payments between my Ford Flexible Saver and current account take between 1 and 4 hours when made on a working day during working hours, although I haven't made one for a few months and I believe this may have got quicker recently. IIRC, payments made late evening may not be processed until the following day and I don't think payments are processed over the weekend - at least this used to be the case.

dgpur

ircE said:

So I've been meaning to look at this for a while, and I figured it might be of interest to others based on @refluxer's tip off on Tesco Bank today but also earlier discussions around "what do we actually mean by easy access accounts" (@Hattie627 etc).

The first section shows soulsaver's top pots as they currently stand. 

The second section shows the top rates for what I've referred to as "True EA": easy access savings accounts that have no minimum balances and offer unlimited withdrawals. 

The third section shows the top "True EA" accounts that also allow instant access, by which I mean the providers advertise deposit and withdrawal times as taking up to 2 hours but usually less, 24/7.

Some observations that jumped out to me: 

* competition is cut-throat to be the top rate, but more segmented for the rest

* Chip is likely to remain popular even not being in the top spot

* recent decisions from Tandem, Tesco and Kroo make much more sense considering their access

* the new digital banks that attracted savers (and current account holders!) with their erstwhile high interest rates might have decided they are comfortable enough where they are now, relatively speaking

Anyway, would be interested to see what others think and if I've missed anything obvious.

I’m only interested in instant access. I have no time for accounts with limited withdrawals or minimum balances, and week day only next day access/deposit is positively antediluvian. That’s why my money is shared between only Chip and Tandem right now, even if technically higher rates are available.