The Top Easy Access Savings Discussion Area

Section62

Old Virgin Money savings accounts...

Not seen it mentioned before, but it seems as part of their branch/store closures certain old passbook accounts are being converted to their Easy Access Saver issue 39 which will have statements rather than the passbook.

The reason for mentioning here it is the interest rate (on balances over £999) is 5% (annual, gross) - some forum members might find that useful. The rate on balances £1-£999 is 0.1%.

Issue 39 is only available to those with an existing eligible passbook account (VM are writing to those customers).

It appears the account can still only be managed in store/branch (for now) or by post, so is of limited use for easy access, but if you were thinking of closing an old passbook account it might be worth checking whether it would otherwise be converted to the issue 39 account in due course.

I'd also be surprised if VM were making this change without the account ultimately being available for online/app management, although by then the rate may plummet.

dekkard

Thinking of opening a Tandem savings account. Is there anything in particular to be aware of, any drawbacks?

twadds123

dekkard said:

Thinking of opening a Tandem savings account. Is there anything in particular to be aware of, any drawbacks?

not really,  it's app only so don't use if you like actual online or branch banking.

deposits and withdrawals are not instant but are still pretty quick, usually less than 20mins in my experience.

BestSeagull

dekkard said:

Thinking of opening a Tandem savings account. Is there anything in particular to be aware of, any drawbacks?

I was apprehensive but I'm glad I did it. It was my first app only account and I've gone on to open Monument since.

I will say that the app, although simple, is not the most intuitive to operate but I'm getting better at it with practice.

It has to be linked to a current account but you can link to several, which I found useful when trying to fill up the account quickly. I had some problems with Santander repeatedly blocking payments in but Halifax didn't seem to mind.

You have to actively click a box to add your bonus rate, don't forget to do that.

castle96

Re Edge Saver
I have a regular saver and a 123 a/c. Have applied on line for the Edge Saver but it declines me. Why?

n3ophyte

castle96 said:

Re Edge Saver
I have a regular saver and a 123 a/c. Have applied on line for the Edge Saver but it declines me. Why?

Because you need an “Edge” current account not a 123 account.

castle96

OOps sorry - I DO havean Edge current account as well

ForumUser7

castle96 said:

OOps sorry - I DO havean Edge current account as well

Edge, or Edge Up? Former is eligible, second isn't.

castle96

it was an Edge I had, it was an easy access saver. Have now opened an Edge and 2 mins later an edge saver - success. Just to confirm - no£3 fee ... TRUE?if I dont bother with cashback, etc. Just want to bung £4k in there

castle96

  EDIT - it WASN'T an Edge I had,