The Top Easy Access Savings Discussion Area

KevinG

flobbalobbalob said:

KevinG said:

Opened a Tandem account for my wife yesterday to max out the interest. It didn't quite go according to plan as the app wouldn't link her account to our joint bank account (the one I used successfully) as it wasn't in her name (which it is, she just isn't the first named). Bit of a pain so we linked it to her Halifax personal account instead and had to shift money to that first. But like someone else earlier, it wouldn't allow a transfer of a large amount using open banking, we managed £50 but not £10,000. Halifax's daily transfer limit is £25,000 and the error message it gave was extremely unhelpful. Anyway, in the end we just moved the money successfully using faster payment but it's still a nuisance only being able to do £25K per day. It is also annoying that some banks, including Tandem, only accept faster payments from the linked account as that would have been a way round the open banking problem.

I am the second named of our joint NatWest account and linked to Tandem OK. In my case my spouse does not have a Tandem account.

Yes, strange that it wouldn't work, her full name is on the account. 

jaceyboy

patpalloon said:

Shawbrook have raised their EA rate by a whopping 0.05%.

Drained mine and put in Oxbury...

Rollinghome

NameWithheld said:

I prefer monthly over annual for taxable interest because at the moment I have a not to exceed target of £1000 taxable interest per tax year. This is partly because it is the maximum I can get without paying tax, and partly because having a target makes it easier to budget how much income to salary sacrifice to ensure that my overall taxable income remains in the 20% tax band. Having monthly interest on accounts that have rapidly changing rates and balances makes the target easier to track.

Any excess savings goes in an ISA at BR - 0.9%. That pays annually, but that doesn't matter

As I said earlier, there can be tax reasons why it might be preferable to maximise your earnings in one year rather than the next. That could be done with an annual interest account, but it could possibly avoid doing some sums and closing accounts, but involve adding up all those monthly payments, so I could understand that.

What I'm curious about is why someone would put money into an ISA at 0.90%, when it could go into an MMF at around SONIA, or into a taxable account paying 5.00% or so which would still be more than 0.9% after tax. Or perhaps, depending on circumstances, into an annual account that would pay interest the following year?

BestSeagull

Rollinghome said:

NameWithheld said:

I prefer monthly over annual for taxable interest because at the moment I have a not to exceed target of £1000 taxable interest per tax year. This is partly because it is the maximum I can get without paying tax, and partly because having a target makes it easier to budget how much income to salary sacrifice to ensure that my overall taxable income remains in the 20% tax band. Having monthly interest on accounts that have rapidly changing rates and balances makes the target easier to track.

Any excess savings goes in an ISA at BR - 0.9%. That pays annually, but that doesn't matter

As I said earlier, there can be tax reasons why it might be preferable to maximise your earnings in one year rather than the next. That could also be done with an annual interest account, but it might avoid doing the sums and closing accounts, so I could understand that.

What I'm curious about is why someone would put money into an ISA at 0.90%, when it could go into an MMF at around SONIA, or into a taxable account paying 5.00% or so which would still be more than 0.9% after tax. Or perhaps, depending on circumstances, into an annual account paying interest that wouldn't be payable until the following year?

It's base rate minus 0.9% ( I thought that too on first reading)

BooJewels

Rollinghome said:

NameWithheld said:

I prefer monthly over annual for taxable interest because at the moment I have a not to exceed target of £1000 taxable interest per tax year. This is partly because it is the maximum I can get without paying tax, and partly because having a target makes it easier to budget how much income to salary sacrifice to ensure that my overall taxable income remains in the 20% tax band. Having monthly interest on accounts that have rapidly changing rates and balances makes the target easier to track.

Any excess savings goes in an ISA at BR - 0.9%. That pays annually, but that doesn't matter

As I said earlier, there can be tax reasons why it might be preferable to maximise your earnings in one year rather than the next. That could be done with an annual interest account, but it might avoid doing the sums and closing accounts, so I could understand that.

What I'm curious about is why someone would put money into an ISA at 0.90%, when it could go into an MMF at around SONIA, or into a taxable account paying 5.00% or so which would still be more than 0.9% after tax. Or perhaps, depending on circumstances, into an annual account that would pay interest the following year?

I think they mean that it's at 0.9% below the Base Rate - like my Skipton BR Tracker account.

Apologies, I was too slow @BestSeagull beat me to it.

linz

linz said:

Is anyone else having issues with linking their funding account with the Tandem app? Their fingerprint log in is proving to be a nightmare and it's not linking to HSBC, i'm just getting the whirl.

Think I've solved this. Gave them a call & they said their app isnt compatible with biometric log in so for anyone who hasnt done it switch it off for Tandem app.

PixelPound

linz said:

linz said:

Is anyone else having issues with linking their funding account with the Tandem app? Their fingerprint log in is proving to be a nightmare and it's not linking to HSBC, i'm just getting the whirl.

Think I've solved this. Gave them a call & they said their app isnt compatible with biometric log in so for anyone who hasnt done it switch it off for Tandem app.

I use biometric login for tandem no issue whatever 

BreakingGlass

nic_c said:

linz said:

linz said:

Is anyone else having issues with linking their funding account with the Tandem app? Their fingerprint log in is proving to be a nightmare and it's not linking to HSBC, i'm just getting the whirl.

Think I've solved this. Gave them a call & they said their app isnt compatible with biometric log in so for anyone who hasnt done it switch it off for Tandem app.

I use biometric login for tandem no issue whatever 

My understanding is that the app needs a text message to login, but once logged in you can use biometrics to unlock the app (i.e if exiting and re-opening the app without logging out).  This is based on the IOS app on an iPhone.

linz

BreakingGlass said:

nic_c said:

linz said:

linz said:

Is anyone else having issues with linking their funding account with the Tandem app? Their fingerprint log in is proving to be a nightmare and it's not linking to HSBC, i'm just getting the whirl.

Think I've solved this. Gave them a call & they said their app isnt compatible with biometric log in so for anyone who hasnt done it switch it off for Tandem app.

I use biometric login for tandem no issue whatever 

My understanding is that the app needs a text message to login, but once logged in you can use biometrics to unlock the app (i.e if exiting and re-opening the app without logging out).  This is based on the IOS app on an iPhone.

It might be my crappy phone then, galaxy s8. Had to get them to manually add my bank account as the app kept logging me out. Sorted now hopefully

refluxer

Post Office Online Saver (Issue 68) @ 4.70% (includes a bonus rate of 3.15% for 12 months)

I'm presuming this is pretty recent, as it isn't showing on the comparison sites yet.

https://www.postoffice.co.uk/savings-accounts/online-saver?