The Top Easy Access Savings Discussion Area

Rollinghome

nic_c said:

Eirambler said:

Right Tandem, you're on the clock. You have until Friday morning...

Why? Either you're happy with your money being with them at 4.36% and know they'll raise at some point, or you're not as there is better elsewhere. What happens if they raise Friday afternoon?

It appears that Eirambler has decided to wait a few days to see if Tandem will improve their rate.  That doesn't seem so unreasonable to me.

Could you clarify what it is you think they should do?  Is it that they should have jumped the instant a higher rate was offered elsewhere?  Or that they should stay with Tandem indefinitely regardless of the rate being paid?  (Would that equally to banks such as AlRayan who were once top payers but seem to have shifted from that policy and currently pay an expected profit rate of just 4.00% on EA account?) Or do you have a far better approach?

Could it be that you've calculated a specific differential between rates for when it's right to move and when it's not? I'm puzzled.

soulsaver

Secure Trust Bank Access Ac £1k min op bal. (& ongoing deposits min £1k) 4.65% (07/08) Access Account (securetrustbank.com) 

BooJewels

soulsaver said:

Secure Trust Bank Access Ac £1k min op bal. (& ongoing deposits min £1k) 4.65% (07/08) Access Account (securetrustbank.com) 

I totally mis-read that as minimum opening balance £1 million.  I thought you must have better knowledge of some of the regular posters than me!

mebu60

soulsaver said:

Secure Trust Bank Access Ac £1k min op bal. (& ongoing deposits min £1k) 4.65% (07/08) Access Account (securetrustbank.com) 

My existing Issue 9 has automatically gone to this. 4.65%AER / 4.55%gross pcm.

mebu60

Charter SB.
Did I imagine it or are their rates going up +0.25%? So Issue 42 will go from 4.55% to 4.8%?
Can't find anything to confirm! If anyone can advise and from when that would be helpful. Thanks.

SeriousHoax

FishInGlass said:

SeriousHoax said:

cadguy77 said:

Rollinghome said:

alrk said:

Who else transfers money in and out as quickly as Chip? I will give them a few more days but preparing myself to have to move out for a bigger %

How much cash do you need to access instantly?
With the many of the better paying accounts, they'll only allow withdrawals to a single designated account, most often the one used to pay in.  Which is likely to be your hub current account. Once there, if it's more than £20k you could well find it not so easy to move it on to another account instantly without security checks, especially if it's a new account. Could be stuck there for a day.
If so, keeping some with a bank offering the fastest transfers but paying a smidgeon less, and one or more paying the highest rates with withdrawal times you can live with, could be the way to go.

For me, a long term Santander account holder (from alliance and Leicester days), I can do 4x 25k transfers per day without triggering extra security check bar OTP confirmation 

Alliance and Leicester that Brings back memories For me that was my very first place to save.
I used to go once a week with my pocket money that I had left Back in 1970s
My mum or dad used to take me.😛

How about Girobank. When I started work I opened an account with them. This was taken over by Alliance and Leicester and subsequently by Santanter.

I can't remember Girobank.😀

janusdesign

mebu60 said:

Charter SB.
Did I imagine it or are their rates going up +0.25%? So Issue 42 will go from 4.55% to 4.8%?
Can't find anything to confirm! If anyone can advise and from when that would be helpful. Thanks.

the announcement on their site says...

Bank of England Base Rate announcement

We’re increasing our interest rate by 0.25% on all variable rate accounts that are no longer on-sale on our website to match the recent Bank of England Base Rate increase.

The increased rates will be effective from 18 August 2023 and will be applied automatically to eligible accounts.

by the time they announced the above, Issue 42 had gone NLA - so it should be increasing to 4.80% on the 18th (week on Friday).

SeriousHoax

Secure trust bank 4.65%

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/?utm_source=mseandroid&utm_medium=mobile_app&source=MOB_MSEANDROID&utm_campaign=mse_topics#easyaccess

https://www.securetrustbank.com/

janusdesign

mebu60 said:

soulsaver said:

Secure Trust Bank Access Ac £1k min op bal. (& ongoing deposits min £1k) 4.65% (07/08) Access Account (securetrustbank.com) 

My existing Issue 9 has automatically gone to this. 4.65%AER / 4.55%gross pcm.

mine still says 0.00% as i've been waiting since last Tuesday for ST to do an internal transfer from Iss7 to Iss9 - it would have been quicker for me to withdraw and deposit it myself.

CheekyMikey

Rollinghome said:

nic_c said:

Eirambler said:

Right Tandem, you're on the clock. You have until Friday morning...

Why? Either you're happy with your money being with them at 4.36% and know they'll raise at some point, or you're not as there is better elsewhere. What happens if they raise Friday afternoon?

It appears that Eirambler has decided to wait a few days to see if Tandem will improve their rate.  That doesn't seem so unreasonable to me.

Could you clarify what it is you think they should do?  Is it that they should have jumped the instant a higher rate was offered elsewhere?  Or that they should stay with Tandem indefinitely regardless of the rate being paid?  (Would that equally to banks such as AlRayan who were once top payers but seem to have shifted from that policy and currently pay an expected profit rate of just 4.00% on EA account?) Or do you have a far better approach?

Could it be that you've calculated a specific differential between rates for when it's right to move and when it's not? I'm puzzled.

I suspect that, like me, Nic is just amused at yet another of these countless posts where people give these ultimatums that they’re off if so and so bank doesn’t up their rate…as if the banks are in any way influenced by a threat from a poster on a internet forum 😀