The Top Easy Access Savings Discussion Area

jimexbox

BooJewels said:

I'm not keen on app only banking.  I do use banking apps routinely for daily management, but there are several reasons why I prefer to have the option of web based account management too.  A large one being that I have Reynauds and often have difficulty using touch screens and prefer when setting up a new payee or making transfers, where typing numbers accurately matters, to use a keyboard and mouse than rely on my tricky fingers.  Not to mention that some of the apps have really tiny numbers on some of these sorts of screens.  So for important stuff, I prefer my PC.

You may find a Samsung phone and the dex app suitable. Let's you use your phone on a pc. 

mebu60

AndrewSteele888 said:

Does any know the minimum balance for Family BS online Saver (5) struggling to find in on their website?

Minimum withdrawal is £100 which sort of implies that is the minimum balance. You can try leaving less and see what happens! 

Bigwheels1111

lcooper said:

I am a reluctant Tandem account holder - not because they are app-only, but - apart from the rate - because they are nothing like Chip. I think I am spoilt by the truly instant nature of Chip deposits and withdrawals. With Tandem, it's still faster than most other savings accounts but you have to wait for up to half an hour for a withdrawal to arrive. So if you need money in your current account for a payment, you can't complete it all in one go, like you can do with Chip. You have to withdraw from Tandem, then come back half an hour later to make your payment.

Deposits into Tandem aren't instant, either.I get a an animated circle for at least a minute, and then it takes another 10-20 minutes before you get confirmation.At Chip, it takes seconds to get confirmation for the deposit.

The other thing I noticed is that Tandem use weird payee information when using OB for deposits. In Santander, the payment shows to "Tandem Santander", in Starling it's "Instant Access Sav". My Chip desposits from Santander show my name and some gobbledegook reference. Not perfect either but more meaningful than Tandem.

The other drawback of Tandem is that my Top Up expires in January. So unless they extend it, I would be back to 4.65% which is most likely not enough to keep me there.

The current good rate at Tandem makes me put up with their drawbacks but I will still keep a small amount in Chip for convenience and emergencies. I do hope Chip will raise their rate before long, though. May be not to 5%, but 4.9% would do for me.

My top up runs until April 24, as new top up was released in April 23.

Another top up should be released at some point and if you have auto top up switched on it will extend your rate by a year again.

Stargunner

mebu60 said:

AndrewSteele888 said:

Does any know the minimum balance for Family BS online Saver (5) struggling to find in on their website?

Minimum withdrawal is £100 which sort of implies that is the minimum balance. You can try leaving less and see what happens! 

It is £100. I tried leaving less yesterday and it wouldn’t allow me.

BooJewels

jimexbox said:

BooJewels said:

I'm not keen on app only banking.  I do use banking apps routinely for daily management, but there are several reasons why I prefer to have the option of web based account management too.  A large one being that I have Reynauds and often have difficulty using touch screens and prefer when setting up a new payee or making transfers, where typing numbers accurately matters, to use a keyboard and mouse than rely on my tricky fingers.  Not to mention that some of the apps have really tiny numbers on some of these sorts of screens.  So for important stuff, I prefer my PC.

You may find a Samsung phone and the dex app suitable. Let's you use your phone on a pc. 

Thanks, just looking and can't quite make sense of it just at the moment, but I'll look at it properly later.  At the moment I just use my PC where my phone isn't suitable and am quite happy to just discount app only banks.

happybagger

Eirambler said:

How is app only banking different to online only banking in practice - are there really that many people who are capable of managing an online account but can't manage an app? Would have said an app was easier, if anything.

What is your back-up if the app/system/network is down? Or you lose your phone? I'm very comfortable with online as I can log in from something else if my laptop fails, or even go to the library and use their PC, but app only is a restriction too far for me.

I appreciate some love it but it's not for me. There are 11 in our family, siblings and their kids, and only 1 uses an app ONLY account, despite many using their bank's own app. She has had difficulty paying for stuff with her app only bank account several times and had no back-up.

Each to their own

housebuyer143

KevinG said:

Just opened a Tandem account and transferred money from Chip, the whole process was painless and took 5 minutes.

I just joined tandem but I dunno, prefer chip.. The transfers in and out are not instant for me? 

housebuyer143

KevinG said:

flaneurs_lobster said:

housebuyer143 said:

How do I check the rate I am getting at Newcastle on the app? It just links me to the website and a savings pdf from July. I want to ensure the rate has now increased with base rate rise.

Can't see it in the app, it's shown on the website (as 4.3%). NBS have 5 working days from the BoE announcement to apply the rate increase.

Looked really good when I opened it, when it increases to 4.55% it will be decidedly uncompetitive.

4.55% I can get behind for now, it's better than chip. Not sure how much longer I'll keep it there though

happybagger

Stargunner said:

BestSeagull said:

Zopa_Trooper said:

I'm wondering whether anybody else will bother challenging Tandem now. The BoE bank raise was 0.25%, anybody exceeding Tandem is going to have to raise their rate by nearly 0.5%. A step too far?

I think there are going to be a huge amount of people, even those who are rate chasers, who are not comfortable with App only banking. So the field is still wide open for the rest.

Why would people not be comfortable with app only banking. 

I prefer it, as it makes logging in far easier, especially with face recognition.

As I use cash for the vast majority of purchases, for those top app-only bank accounts, do they enable you to draw cash out? Genuine question as I haven't looked at them.

flaneurs_lobster

happybagger said:

Stargunner said:

BestSeagull said:

Zopa_Trooper said:

I'm wondering whether anybody else will bother challenging Tandem now. The BoE bank raise was 0.25%, anybody exceeding Tandem is going to have to raise their rate by nearly 0.5%. A step too far?

I think there are going to be a huge amount of people, even those who are rate chasers, who are not comfortable with App only banking. So the field is still wide open for the rest.

Why would people not be comfortable with app only banking. 

I prefer it, as it makes logging in far easier, especially with face recognition.

As I use cash for the vast majority of purchases, for those top app-only bank accounts, do they enable you to draw cash out? Genuine question as I haven't looked at them.

If the app-only bank offers a current account then yes (via a debit card). The likes of Chip and Tandem offer savings products and do not offer cash withdrawals.