The Top Easy Access Savings Discussion Area

scottishstu

I note the Paragon Bank Dbl Access Iss1 at 4.75% has been unavailable for a couple of days now. Looks like it's gone. @soulsaver

Their triple access account is still available but it's not competitive enough to be in serious consideration (currently 4.55%).

BristolVR

mebu60 said:

jaypers said:

<snipped>

Charter have increased everything up to Issue 41 only. Funny that, they said they would increase all ‘no longer on sale’ accounts. 

Issue 42 is NLA, current issue is 43 @ 4.5%. I will follow up. 

And, more to the point, even at the time when Charter issued its 'Good News' email, Issue 42 was noted by soulsaver on this forum as having been withdrawn from sale  a 'few days ago'.

It's why I decided to leave my money with them, despite the fifteen day wait.

I too have noticed the lack of promised increase today, and will also be raising a query.

soulsaver

BristolVR said:

mebu60 said:

jaypers said:

<snipped>

Charter have increased everything up to Issue 41 only. Funny that, they said they would increase all ‘no longer on sale’ accounts. 

Issue 42 is NLA, current issue is 43 @ 4.5%. I will follow up. 

And, more to the point, even at the time when Charter issued its 'Good News' email, Issue 42 was noted by soulsaver on this forum as having been withdrawn from sale  a 'few days ago'.

It's why I decided to leave my money with them, despite the fifteen day wait.

I too have noticed the lack of promised increase today, and will also be raising a query.

Charter Iss 42 4.55% £5k min (27/07) was posted as NLA at 01/08 and confirmed on their webby.
The Top Easy Access Savings Discussion Area - Page 1580 — MoneySavingExpert Forum

Zopa_Trooper

I've often thought, you know when you go down to your local PC World (suppliers are available) to say, buy a TV and when you tell them you can get the set £25 cheaper down the road or on the internet, they often will reduce the price to match. They don't give this price to the next person who walks through the door, just you. I wonder why banks don't do this? I mean, they may have £85,000 of your money, but a rival account up their rate and you start the process to move it to them. Why doesn't the bank offer you a "personal bonus" to match the one on offer? They wouldn't have to do it for everybody, wouldn't have to advertise it and it would be far cheaper than increasing the overall rate. Just wondering. Maybe they do but I haven't got enough money stashed to make it worth their while?

inkydolphin

The banks could adapt the John Lewis strapline - "Never knowingly underinterested"

masonic

Zopa_Trooper said:

I've often thought, you know when you go down to your local PC World (suppliers are available) to say, buy a TV and when you tell them you can get the set £25 cheaper down the road or on the internet, they often will reduce the price to match. They don't give this price to the next person who walks through the door, just you. I wonder why banks don't do this? I mean, they may have £85,000 of your money, but a rival account up their rate and you start the process to move it to them. Why doesn't the bank offer you a "personal bonus" to match the one on offer? They wouldn't have to do it for everybody, wouldn't have to advertise it and it would be far cheaper than increasing the overall rate. Just wondering. Maybe they do but I haven't got enough money stashed to make it worth their while?

For a lot of the smaller players, the name of the game is showing their investors that they can grow market share, which is measured more in number of customers than volume of cash on deposit. In some cases leading rates may be offered at a loss, hence the less money deposited per customer the better. Even for the more established ones, the name of the game is usually to launch new competitive issues of an account while letting the older ones wither away - this is something the FCA is currently taking action on (probably to the detriment of those of us who actively move our cash around), so I'd expect them to take a dim view of haggling also.

Zopa_Trooper

But it does happen in other walks of life so why not banking?

Section62

uptdale said:

Catplan said:

Some mobile providers offer a widget for wifi calling and texting (at a price) and some don't (mine doesn't).  There are 40 or 50 of us in our not-spot and some of my neighbours pay for it - mostly people who travel daily outside the not spot and so use their mobiles for calling and texting a lot.  I don't and for me it's not worth the cost.  I have an app (Voxist) for getting voicemail to my mobile, but it does not work for texts.  Most banks now offer an alternative to SMS for OTPs (voice call to landline or push notification to an app) or give you a widget for 2FA.  Beehive seems to be one of the few that don't - others I know of are Principality, Oak North, Investec and Close Brothers.  Plenty of other banks and building societies available.

Nottingham's approach to online services and the nonsensical restrictions they apply are simply pants.  Existing Nottingham members cannot get online access to their accounts full stop, nor apply for a Beehive account without jumping through the same 3rd-party photo ID hoop as non-members.

As you say, there are plenty of other banks and building societies and Nottingham risk vanishing from the scene unless they get their act together on this.

If they were a one or two branch local building society then they might just cope without online services - but with a sizeable branch network to support they need to at least attempt to keep up with the competition. Ironically, in 1983 The Nottingham were at the cutting edge of 'online' banking. They appear somewhat stuck in that era.

There are signs the Board are waking up to this, but the message doesn't seem to permeate the organisation very well, and progress is painfully slow.

TwiceNightly

Sorry to go over old ground here about the Santander Edge account, but if I’m reading this right and change my current account to an Edge account and don’t transfer money in each month or set up a direct debit then I’ll pay £3 a month for:

• A current account it can use abroad with no transaction fees

• a savings account at 7% where I can put £4k

Is that right? I wouldn’t get the other benefits but would have access to their ‘boosts, if I wanted to use it as a spending account.

Thanks!

Mr._H_2

TwiceNightly said:

Sorry to go over old ground here about the Santander Edge account, but if I’m reading this right and change my current account to an Edge account and don’t transfer money in each month or set up a direct debit then I’ll pay £3 a month

No. The point is that if you don't set up any DDs, you won't get cashback, but you also won't be charged the £3* and you'll still have access to the Edge saver. If you do this, it's possible that after a few months Santander might revert your Edge account to a normal account, but that is just speculation and no-one knows for sure.

When you say "change" your current account, if you mean that you already have a Santander account you are thinking of changing into an Edge account, then you don't have to do that if you don't want to; you can just open a new Edge account.

* I should add that in an overabundance of caution, I have left £3 in my Edge account in case I'm erroneously charged the fee. If I get charged, I would dispute it because the T&Cs are very clear: "We’ll start charging this fee after you meet the conditions for earning cashback for the first time."