The Top Easy Access Savings Discussion Area

[Deleted User]

masonic said:

flobbalobbalob said:

My Tandem bonus expires next February. I'm sure they just wanted an amount of money then removed the bonus to in effect make all accounts a 6 month fix and hoping competition will hold back now.

Mine is valid until 2nd March, one year after I activated it. So it will be more than a 6 month fix for some if Tandem don't do anything to it in the mean time.

I closed my Tandem instant access with a top up about a month ago due to rates, then came back cap in hand last week but it has turned out well as I now have the top up for longer. I had fixed rate the whole time so never lost access to the platform. Jammy!

worriednoob

Am I missing something?  Tandem has dropped from 5% to 4.65%???

[Deleted User]

worriednoob said:

Am I missing something?  Tandem has dropped from 5% to 4.65%???

They are not offering the top up rate anymore from the looks. I was not aware as I have it locked in.

BestSeagull

[Deleted User] said:

worriednoob said:

Am I missing something?  Tandem has dropped from 5% to 4.65%???

They are not offering the top up rate anymore from the looks. I was not aware as I have it locked in.

Yes, they stopped it sometime yesterday. 

allegro120

grumbler said:

allegro120 said:

Rollinghome said:

Doesn't seem to be great excitement over the Chip Wealth Codes as per email, or did I miss it?  But then £20 on £5k-£10k to £200 on £85k for effecively turning your account into a 6 month fixed term isn't too exciting without a decent rate increase to go with it.

Does this translate as 5.31% AER 6 months fixed for £5k option? If it does then wouldn't it be better to fix at 6% for 1 year?  Not a very exciting offer.  I'll give it a miss whilst BoE rates are still on the rise.

As posted earlier, a better translation would be 'notice', not 'fixed'.  And  not all notice accounts allow withdrawals without a notice for a very small penalty.

Yes "notice" is a better translation, but in fact it is easy instant access.  What I meant was - if I decide to deposit £5k at lower AER for the benefit of the bonus I won't want to make a withdrawal within qualifying period, so practically for me it will be a self-imposed fix.

allegro120

Nick_C said:

Edge Saver. 

"You can only pay money into your account online from your Santander Edge current account."

I hadn't spotted that before. 

If they meant "may" or "must" they should have said so.

I funded my Edge Saver from my 123 Lite Current Account.

The Edge Saver had a standard sort code and account number so you can fund it from anywhere.  

Exactly! I funded my Edge saver from my Everyday Current.

BestSeagull

Are people just leaving their Edge Current Account completely empty? I'm tempted to put in just a bit to cover the £3 fee "just in case" even though I don't intend to put in £500 a month or set up any direct debits, so shouldn't be charged in the first place.

castle96

yes - empty

janusdesign

BestSeagull said:

Are people just leaving their Edge Current Account completely empty? I'm tempted to put in just a bit to cover the £3 fee "just in case" even though I don't intend to put in £500 a month or set up any direct debits, so shouldn't be charged in the first place.

the key document does say...

The fee for this account is £3 per month.
We’ll start charging this fee after you meet the conditions for earning cashback for the first time.
Then, we’ll take it from your account each month on the anniversary of the date you opened
it. We’ll do this every month until your account is closed. This includes any months where you
don’t earn cashback.
If you don’t have enough money available to cover the monthly fee, we’ll still take it and your
account may go into an unarranged overdraft. We won’t charge you any interest or fees on the
amount of the unarranged overdraft.

Zopa_Trooper

Wouldn't most people get more cashback than the £3 fee? I've not got the account but if I did would get £3.81.