The Top Easy Access Savings Discussion Area

KevinG

kjs31 said:

How are people doing the transfers from one account to another relatively quickly? I can transfer 85k from a savings account to my linked current account in one hit but then it takes me 4 days to get it into the new account as I'm restricted to 25k per day. I've asked if that can be increased and have been told to do it in branch which is massively inconvenient. I know I can do the outgoing transfers over 4 days too but it's quite a faff. 

I'm just living with these type of restrictions, it's a different amount for each bank and if it takes 4 days, so be it.

kjs31

How many people 'risk' putting more than 85k into a single organisation? I try to keep below that but do have a couple of accounts with more than that in them just now (I've got house funds on easy access deposit that I will need out fairly soon before people think I'm a billionaire  ).  

kjs31

Futuristic said:

Its your banks imposed limits.

FPS limit is £1m, many banks now have £50-100k limits or ability to increase. (Chase, Nationwide, Santander, Barclays Premier, Monzo, Starling etc)

Thanks. Looks like Kroo allows more too so looks like I'll be swapping my linked account. 

jaceyboy

kjs31 said:

How many people 'risk' putting more than 85k into a single organisation? I try to keep below that but do have a couple of accounts with more than that in them just now (I've got house funds on easy access deposit that I will need out fairly soon before people think I'm a billionaire  ).  

I’ve got £90k in Tandem, hope they don’t go !!!!!!!!

Zaul22

So that's what we have been doing wrong, instead of people posting here about moving their money from Chip to Tandem, we should be doing it on Chips own customer forums. 

r6mile

On the Santander Edge Saver, what does the £4000 maximum balance mean? Presumably if I put in the max, the interest will take it over the limit? Or how does it work?

Is there a way to get the interest paid into the current account?

Hattie627

r6mile said:

On the Santander Edge Saver, what does the £4000 maximum balance mean? Presumably if I put in the max, the interest will take it over the limit? Or how does it work?

Is there a way to get the interest paid into the current account?

I don't think so. I think you have to manually move the interest out each month. The interest is paid on the month-versary of the date you open it. 

Malchester

r6mile said:

On the Santander Edge Saver, what does the £4000 maximum balance mean? Presumably if I put in the max, the interest will take it over the limit? Or how does it work?

Is there a way to get the interest paid into the current account?

You can transfer the interest monthly into the current account or elsewhere to keep the balance at £4000

DeLaSole

Hi r6,

No interest is paid on the balance above £4k so I assume you move your interest elsewhere - that's my plan, anyway.

Best wishes.

Zopa_Trooper

Kroo have announced their interest rate on the current account will now track the BOE rate less 0.9%. Starts in 2 months.