The Top Easy Access Savings Discussion Area

UVRay

flaneurs_lobster said:

UVRay said:

The worry I have with the Tandem/Chip apps is that they seem to have no security other than the possession of the SIM of the mobile number associated with the account. So all this discussion about phone security is irrelevant if a thief can simply put the SIM in a new phone and get access to your accounts using freshly installed apps on that phone?

The app for my main bank account is locked to the phone & would require access to that phone (or a call to customer services) to move it. However Tandem & Chip don't seem to have this security (or am I wrong about this)?

Maybe they have added security around setting up a new linked account to transfer your money out to, but this isn't obvious with the ease with which I set up my linked account (only security was on the other end within the linked account app).

Lock the SIM with a PIN code.

Yes, very good advice (which the apps should strongly encourage you to do if it is not possible to enforce). It's not something I had previously thought worth bothering with, and I would guess it's not something most people do?

PSA: If like me you just went to set a PIN and it asks for the current PIN, don't worry you are not suffering from dementia and have forgotten that you previously set one but can't remember it. For O2 at least, SIMs have a default PIN of 0000 which you will need to enter before setting up your own. The new PIN does not have to be just 4 digits either.

Stargunner

Justsayit7 said:

Ulster Bank now 4.90%  EA

Only for balances over £50k

mobfant

Justsayit7 said:

Ulster Bank now 4.90%  EA

Thanks. Worth flagging that Ulster shares FSCS protection with NatWest so if you’ve got a NatWest account (e.g. the 1 year ISA best buy) then you’re not protected if you have more than £85000 collectively. Almost got caught out by that just now!

soulsaver

Ulster Bank link to the  £50k+ for 4.90% rate Loyalty Saver - Savings | Ulster Bank Northern Ireland

See below for link to ranked-by-rate  Easy(ish) Access accounts 

MichaelAP

I am a bit confused in what Tandem show in App with deposits. ZOPA,Marcus,Chip show entries separately with a running balance but all I see in the App is a total amount.

Eirambler

It shows each individual deposit, withdrawal and interest payment, as well as your current balance. But it doesn't show the historic balance after each previous payment if that's what you were looking for.

BestSeagull

MichaelAP said:

I am a bit confused in what Tandem show in App with deposits. ZOPA,Marcus,Chip show entries separately with a running balance but all I see in the App is a total amount.

If you can figure out how to make it scroll down, you'll see the transaction history.

TiVo_Lad

Monument Bank Easy Access savings up a smidge to 4.65% AER effective now. Minimum £25K Deposit/Balance.

https://www.monument.co/savings/easy-access-savings

@soulsaver

PixelPound

csw5780 said:

pecunianonolet said:

Did we not have the same discussion who prefers app only, online only, a combination of both, etc. only a few weeks back which turned into a 10-20 page Chip discussion after?

Concerned about your phone getting lost or stolen? Get a cheap second hand phone and keep at home only. Make sure you not get burgled either.

Online customer? Is your computer, laptop, tablet, or even phone, free of any malware, spyware, viruses, keylogger, tracking cookies, etc? Are you using a specific browser for banking login only and always delete all cached data, cookies?

Two factor authentication and biometrics enabled wherever possible? 

Are you using for any account a different password, memorable words, phrases, pins, etc. which are totally random, without any connection or traceability to you? For those with many accounts of 20+, can you remember them all or do you write it down somewhere?

Phones and laptops can be encrypted, e.g. Bitlocker. On Android you can install banking apps into a secure folder and have it locked on top of the normal phone login and the apps in this folder are not easily visible as being installed.

Remote location tracking enabled so in case phone is lost or stolen you have a chance to track current or last location and lock remotely or even wipe it?

While we're on it, please disable contactless on each and every card you use. As it is near field technology, all I need is a small card machine and walk around in a busy environment, e.g. bus, train, tram, city centre and I just need to hold the machine near enough to your wallet / pocket to get cash transferred. 

Don't see this as criticism, as we have to look carefully after our funds and it is good to have a discussion about it but perhaps a separate "How to secure my digital banking access best" thread might be a better place instead of having the same debate over and over again. 

P.S. I myself could be much more creative with my passwords, pins, etc. and I know that I could reduce this risk further but for me it's a calculated risk and I am aware of it.

Thanks for your understanding!

Re: contactless - you don’t even need a card reader anymore. Apple iphones and most androids can now “accept contactless” with an appropriate app!

You can get purses/wallets or even card sleeves that block the NFC signal. So if that's a concern it can be countered.

PixelPound

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.

The savings PDF seems to have June & July's rates rather than Augusts.

If you log into the website, rather than just use the app, and click on interest statement it shows the interest rate. Though it does say

Interest Rate (gross pa):4.30% (Rate guarantee: bank base rate view here - 0.70%)