The Top Easy Access Savings Discussion Area

13zero8

Kazza242 said:

The Family BS Online Saver (5) interest rate has increased from 4.35% to 4.55% w.e.f. today 03/08/2023.

The account is NLA.  

See here.

Jeez... just spent a few days emptying the account into a higher paying account, which is now 0.02% lower. I don't care about the very slightly lower rate, it's just the waste of time (and slightly elevated blood pressure waiting for the transferred funds to appear in the new account) that I can't be ***ed with anymore.

Think I'm going to settle on a rate (the highest available in the next week or so) and sit on it. If/when rates beat it by around 0.25% then I'll think about switching again.

This leaping around is doing my head in, and even if I had 85k in an account, the cash benefit per 0.1% rise is only about £4 per month if you are a higher rate tax payer. Plus, depending on the bank, you could easily lose a day's interest every time you move, which could take a month or two to recoup at the slightly higher rate of the new account.

So in the great words of the Dragons..... I'm out.

For now.

BestSeagull

Bigwheels1111 said:

BestSeagull said:

I just opened a couple of accounts with Oxbury and had a few questions. I was going to call them but apparently they don't have a phone number.  Does anyone have any experience of actually getting in touch with them? 
How long to get a response by email?
I was happy with how easy the account opening process was but I'm quite disappointed now.

First thing I check is for a phone number, old fashioned that way.

I like a contact number.

The only bank and savings I have without a number is Chip.

So far the message centre has been spot on.

Normally I do too. Dropped the ball with this one!  But turns out they're just trying to keep the volume of calls down by not publicising it on the website.. the official line is that because it's an online account, communication is by email and chat. I was told that every email response comes with the phone number on it, and I was given it when I asked so, all good now.

ranciduk

Been reading about HSBC’s online bonus saver this morning 

seems they will be raising the interest rate soon ,  but only the rate once a withdrawal has been made...? To 2%

unless I’ve got it wrong..

rubbish if it’s true anyway!

Shedman

NanookOfTheNorth said:

I dont think I've seen Cahoot mentioned on here for a while unless I've missed it.  They used to just have fixed rates, but recently they added an easy access 'Simple Saver' which currently pays 4.60% (4.51% for monthly).  £1 minimum balance.

https://www.cahoot.com/products-and-services/cahoot-simple-saver

Have you used Cahoot (surprised to hear the brand is still in use to be honest) and, if so, are the transfers out same day or next day?  As they are part of Santander are they as prone to holding transfers for checks as Santander seem to be? 

BigBlueSky

Shedman said:

Have you used Cahoot (surprised to hear the brand is still in use to be honest) and, if so, are the transfers out same day or next day?  As they are part of Santander are they as prone to holding transfers for checks as Santander seem to be? 

Their online banking works in exactly the same way as Santander.  In fact it is the same platform just the Cahoot branding and colour scheme.  Transfers are instant.  Not sure about transfer checks, haven't experienced that.

Bridlington1

@soulsaver
Aldermore double access now 4.6%
Kent Reliance EA Issue 63 now 4.5%

westv

ranciduk said:

Been reading about HSBC’s online bonus saver this morning 

seems they will be raising the interest rate soon ,  but only the rate once a withdrawal has been made...? To 2%

unless I’ve got it wrong..

rubbish if it’s true anyway!

It's true. Very generous of them.

janusdesign

NanookOfTheNorth said:

I dont think I've seen Cahoot mentioned on here for a while unless I've missed it.  They used to just have fixed rates, but recently they added an easy access 'Simple Saver' which currently pays 4.60% (4.51% for monthly).  £1 minimum balance.

https://www.cahoot.com/products-and-services/cahoot-simple-saver

worth noting that like the Santander Limited eSaver accounts, this account is only for 12 months - after which it converts to their standard savings account (NLA) currently paying 1%.

BigBlueSky said:

Shedman said:

Have you used Cahoot (surprised to hear the brand is still in use to be honest) and, if so, are the transfers out same day or next day?  As they are part of Santander are they as prone to holding transfers for checks as Santander seem to be? 

Their online banking works in exactly the same way as Santander.

except you can't use the Santander app for Cahoot accounts.

as an existing customer, my account was created immediately and added to my other Cahoot accounts - you can't apply through online banking, so I guess as long as you use the same contact details on the online application form, you should be ok.

good to know that transfers between Cahoot accounts aren't capped at £25k, so was able to instantly transfer a significant amount to the savings account while I try to work out where and when to fix.

ForumUser7

NanookOfTheNorth said:

I dont think I've seen Cahoot mentioned on here for a while unless I've missed it.  They used to just have fixed rates, but recently they added an easy access 'Simple Saver' which currently pays 4.60% (4.51% for monthly).  £1 minimum balance.

https://www.cahoot.com/products-and-services/cahoot-simple-saver

https://www.express.co.uk/finance/personalfinance/1798637/HSBC-interest-rates-increase-savings-list

chris_the_bee

Bridlington1 said:

@soulsaver
Aldermore double access now 4.6%
Kent Reliance EA Issue 63 now 4.5%

Kent Reliance EA Issue 63 currently 4.5% 
Quote from recd. email:
"We’re pleased to confirm we’re increasing the variable interest rate on your savings account by 0.25% AER*, to match the recent Bank of England Base Rate increase.

Your rate will increase automatically on 18 August 2023 – you don’t need to do anything."

Note previous issues don't automatically receive new interest rates. You need to close old & open new issue 63. Interest to date will be paid, so might create a tax issue. if so, open new issue 63 & move all except £1 from old to new.