The Top Easy Access Savings Discussion Area

BestSeagull

and their FAQ says..

Q. What are the online limits?

• The standard daily user limit for Personal users is £10,000 (subject to available funds).
• The standard daily user limit for Business users is £50,000 (subject to available funds).

I don't think i've ever tried to pull >£10k from Cynergy so I don't know if that above limit is enforced.

I'm not sure I have either as they are so good at keeping their rates competitive.

I confused myself with my last post on the subject so I thought I'd better call to clarify and was told that for the easy access account there is no daily limit subject to balance for online transactions. She did say to call if there was a limit imposed and they would remove it so maybe there are problems in practice? Don't know.

uptdale

Catplan said:

uptdale said:

SaveTheEuro said:

Beehive Bonus Saver now paying 4.8%. Includes a 2.15% bonus until 31 August 2024. Minimum £1,000.

https://www.beehivemoney.co.uk/savings/easy-access/

Shame you can't open or operate it online without a mobile phone signal (Beehive has just confirmed that to me by chat).  Another one off the list for me!

Hmm I think that depends on definition of mobile phone signal. I use an iPad that doesn’t have cellular / sim to administer this account. I’ve just removed the sim from phone and connected phone via wifi and can access. It is of course app only, but if you mean a 3,4 or 5G signal is required that’s not my experience, as long as the device can run the app and has internet access it works for me.

Interesting.  The link took me to a page which gave me the option of downloading the app or "open an account online", and as I was on my laptop I went for that. I couldn't see anything to say it was app only. Got a code to verify my email, then it asked for my mobile to send a code to verify my mobile number.  That was the problem - without a mobile phone signal I can't get an SMS.  In the chat I asked if I went somewhere with a signal to open the account, could I then operate the account at home without a signal?  She said no, because you needed to receive an SMS to withdraw money and operate the account.

I've just downloaded the app and tried to register that way, but hit the same problem.  Were you able to register and open the account without receiving an SMS?

WBCPB

In April, as an existing customer, I opened the Edge current account and then the Edge saver [ filled up]  but as of today still no debit card or pin & only the saver account showing in online banking, i assume because i did not fill in the forms attached to the email telling me the account is open and ready to use because i do not have any I.D documents from their list 1.

gt94sss2

uptdale said:

That was the problem - without a mobile phone signal I can't get an SMS. 

Most mobile phone networks now support sending/receiving SMS over WiFi (as well as WiFi calling)

infoadict

Santander Edge Account - just tried opening this and also received the email saying we think you are an existing customer and you will need to send in photocopies of documents etc. etc.

Been a customer for over 10 years, so called them, as a previous poster had suggested. After 47 minutes on the phone, sure enough there had been a mismatch with my application details and my existing details. When questioned what the mismatch was, it turned out to be a comma in the address line!!!!. It's their damn system that generates the address, not something I'd typed incorrectly.

Hopefully this will be corrected overnight and I'll no longer have 2 profiles.

Oh, and applied via the app and it didn't automatically add my details, as had been suggested earlier by someone

Rollinghome

BestSeagull said:

janusdesign said:

UncleK said:

Rollinghome said:

A bugbear for me with Cynergy was that they had a withdrawal limit of just £10k.  So, if that's still the case, and it might have improved, becomes a major operation if you've £85k to pull out or want a decent sum urgently.

You could take out £50k in June

as a personal user? I know the business daily limit is £50k, but thought the personal one was still set at £10k.

if that limit is still in place, it's not a problem for me as I have other EA accounts that I can take larger sums from should the need arise.

I've just had a look at the T&C for the Cynergy easy access account and they say-

1. You may make unlimited withdrawals of the account balance. You do not need to provide notice and we will not charge you.

   
   

   But the general savings T&C say - 

   
   

   Payments to the UK in pounds (£)

   Faster Payments

   When you ask us to send money in pounds (£) to another account in the UK, we'll usually send your payment using Faster Payments.

   Faster Payments can be made using Online Banking 24 hours a day, seven days a week, 365 days a year.

   There are some exceptions. For example, we won't use Faster Payments if:

   •   you're making an internal transfer, or

   •   your payment is over the Faster Payments limit. CHAPS payments

     CHAPS payments are usually used for large payments in pounds (£) in the UK. You can ask us to make a CHAPS payment either via your Online Banking or in writing.

     We make all payments over £50,000 using CHAPS. Even if your payment is under £50,000, you can still ask us to make your payment using CHAPS if you want to.

     You'll have to pay us a fee for making a CHAPS payment. All of our fees and charges are set out in our Fee Information Document. Please see the "Our fees and charges" section for details of how to find this.

     
     

     https://www.cynergybank.co.uk/personal/online-easy-access-account/online-easy-access-account/
     

     
     

     ETA Which confused me so I called to check and they said that the first quote is correct and for that account there is no limit to the amount which can be withdrawn online in one day.

Thanks BS, that's very helpful.

I found the same documents, but gave up on phoning for clarification after 8 mins so sent a message.  Probably not as patient as you.

poshrule_uk

janusdesign said:

poshrule_uk said:

Bit of a no brainer to open this account.

never a more annoying sentence to read in this place... sighs.

BestSeagull said:

janusdesign said:

UncleK said:

Rollinghome said:

A bugbear for me with Cynergy was that they had a withdrawal limit of just £10k.  So, if that's still the case, and it might have improved, becomes a major operation if you've £85k to pull out or want a decent sum urgently.

You could take out £50k in June

as a personal user? I know the business daily limit is £50k, but thought the personal one was still set at £10k.

if that limit is still in place, it's not a problem for me as I have other EA accounts that I can take larger sums from should the need arise.

I've just had a look at the T&C for the Cynergy easy access account and they say-

and their FAQ says..

Q. What are the online limits?

• The standard daily user limit for Personal users is £10,000 (subject to available funds).
• The standard daily user limit for Business users is £50,000 (subject to available funds).

I don't think i've ever tried to pull >£10k from Cynergy so I don't know if that above limit is enforced.

If that annoys you then it was absolutely a no brainer to make that comment 🤣

tg99

Re cynergy comments above - have withdrawn full £85k in one go multiple times over years and no issue. Same speed of arrival as when doing £1000.

AndyTh_2

janusdesign said:

poshrule_uk said:

Bit of a no brainer to open this account.

never a more annoying sentence to read in this place... sighs.

BestSeagull said:

janusdesign said:

UncleK said:

Rollinghome said:

A bugbear for me with Cynergy was that they had a withdrawal limit of just £10k.  So, if that's still the case, and it might have improved, becomes a major operation if you've £85k to pull out or want a decent sum urgently.

You could take out £50k in June

as a personal user? I know the business daily limit is £50k, but thought the personal one was still set at £10k.

if that limit is still in place, it's not a problem for me as I have other EA accounts that I can take larger sums from should the need arise.

I've just had a look at the T&C for the Cynergy easy access account and they say-

and their FAQ says..

Q. What are the online limits?

• The standard daily user limit for Personal users is £10,000 (subject to available funds).
• The standard daily user limit for Business users is £50,000 (subject to available funds).

I don't think i've ever tried to pull >£10k from Cynergy so I don't know if that above limit is enforced.

you might find those online limits are for other types of transfer than nominated account. The easy access saver only allows nominated account transfers via a different transfer form. I've definitely done over £20k transfers several times since I've used them

tg99

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.

That’s what I did for the Lite account - put in initial £2 to cover £2pm fee just incase and still sitting there untouched a few years later.