The Top Easy Access Savings Discussion Area

TiVo_Lad

The problem too often is lack of consistency. I suspect no single address database is 100% accurate, but if everyone used the Royal Mail database, at least everything would be consistent. Yes I am sure there are plenty of errors there too, but it's a baseline that everyone can use.

For 20 years I've lived in two rural houses whose address consisted of:

House Name
Village Name
Postal Town
Postal Code

You'd be amazed by the number of systems (presumably written by urbanised techies) who made "Street Name" a mandatory field. Not helpful when you don't have one. Or where correspondence turns up addressed to:

House Name Village Name
Postal Town
Postal Code

Because clearly the system assumed everyone lives at "1 High Street" so they stick the data in the fields that suits their design.

Then of course there's those that give you an address lookup and then the address you select (which they offered) doesn't meet their mandatory field requirements!

Newcastle Building society (and all that use the same crappy system, such as Ford, Charter etc), where you enter

House Name
Village Name
Postal Town
Postal Code

And the correspondence turns up addressed to:

House Name
Village Name
Postal Code

Luckily, in both cases the local postie is able to decipher these mangled addresses and get it to the right place.

Rant over..

BestSeagull

Donegal_Paul said:

Hi all, I've just noticed the TSB are offering a monthly saver account with 5% interest rate (£25 minimum deposit) 
The 5% is fixed for a year, pay in £25 to £250 a month but after a year it stops the 5% and converts to only 1.35%
It's instant access and you already need to have a current account. Hope it helps someone.

@Donegal_Paul As mentioned, this is no longer a competitive account, but if you pop over to the thread linked below, you'll find discussion on the current best regular savers.

https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p932

sheslookinhot

Freedommm said:

Re. Ford Money. I opened the account a few weeks ago and after fully funding it received request to send in proof of ID and UK residence. They insisted it be done via postal mail, any bank statement must be original (not printed PDF). I complied with everything they wanted, had to pay money for courier to deliver bank statement etc.
Sent them the lot, and they are still unhappy, saying it wasn't good enough.
I don't know what their problem is, but stay away from Ford Money, or they'll be pestering you with impossible requests.
Now, my understanding is, I can't "withdraw" funds, however, if need be - they'll simply return everything to my account used for deposit in any case. Therefore, same as a full withdrawal. Unless, they decide to do so without asking me.
You've been warned. Stay away from Ford Money! 

I have 3 accounts with Ford Money and the OH also has 3 accounts. I have found them to be an excellent bank. Communication, interest rate rises to existing accounts etc. Everything about them is first class.

Mevlock

Freedommm said:

Re. Ford Money. I opened the account a few weeks ago and after fully funding it received request to send in proof of ID and UK residence. They insisted it be done via postal mail, any bank statement must be original (not printed PDF). I complied with everything they wanted, had to pay money for courier to deliver bank statement etc.
Sent them the lot, and they are still unhappy, saying it wasn't good enough.
I don't know what their problem is, but stay away from Ford Money, or they'll be pestering you with impossible requests.
Now, my understanding is, I can't "withdraw" funds, however, if need be - they'll simply return everything to my account used for deposit in any case. Therefore, same as a full withdrawal. Unless, they decide to do so without asking me.
You've been warned. Stay away from Ford Money! 

Why would I stay away from Ford money? I have two accounts opened almost instantly with zero issues. No issues with withdrawals or deposits and a competitive rate which is often updated. No messing about with new "issues".

Given the issues you've had previously with other banks something at your end of obviously triggering security checks. You'd be better off sorting that out rather than blaming institutions who are under constant pressure to keep customers money secure and prevent money laundering.

Malchester

Freedommm said:

Re. Ford Money. I opened the account a few weeks ago and after fully funding it received request to send in proof of ID and UK residence. They insisted it be done via postal mail, any bank statement must be original (not printed PDF). I complied with everything they wanted, had to pay money for courier to deliver bank statement etc.
Sent them the lot, and they are still unhappy, saying it wasn't good enough.
I don't know what their problem is, but stay away from Ford Money, or they'll be pestering you with impossible requests.
Now, my understanding is, I can't "withdraw" funds, however, if need be - they'll simply return everything to my account used for deposit in any case. Therefore, same as a full withdrawal. Unless, they decide to do so without asking me.
You've been warned. Stay away from Ford Money! 

Like others I have had numerous Ford Money accounts over the past few years. I have never had any problems with them. Everything has been done at speed, if not instantly and I have been very impressed. Would highly recommend them. And what I find very attractive is that they use the Newcastle Building Society online platform rather than the one used by many Building Societies. It is, in my view, far superior.

Sea_Shell

Barkin said:

Just noticed that Shawbrook EA is now 4.93%

Will an issue 33 get increased too automatically?  I currently only have £5 in there, but will move some in if so.

csw5780

TiVo_Lad said:

The problem too often is lack of consistency. I suspect no single address database is 100% accurate, but if everyone used the Royal Mail database, at least everything would be consistent. Yes I am sure there are plenty of errors there too, but it's a baseline that everyone can use.

For 20 years I've lived in two rural houses whose address consisted of:

House Name
Village Name
Postal Town
Postal Code

You'd be amazed by the number of systems (presumably written by urbanised techies) who made "Street Name" a mandatory field. Not helpful when you don't have one. Or where correspondence turns up addressed to:

House Name Village Name
Postal Town
Postal Code

Because clearly the system assumed everyone lives at "1 High Street" so they stick the data in the fields that suits their design.

Then of course there's those that give you an address lookup and then the address you select (which they offered) doesn't meet their mandatory field requirements!

Newcastle Building society (and all that use the same crappy system, such as Ford, Charter etc), where you enter

House Name
Village Name
Postal Town
Postal Code

And the correspondence turns up addressed to:

House Name
Village Name
Postal Code

Luckily, in both cases the local postie is able to decipher these mangled addresses and get it to the right place.

Rant over..

Always best to check the Royal Mail address list on their address/postcode finder page.  This can be updated by contacting them. 

Barkin

Sea_Shell said:

Barkin said:

Just noticed that Shawbrook EA is now 4.93%

Will an issue 33 get increased too automatically?  I currently only have £5 in there, but will move some in if so.

Just send them a Secure Message, asking to change the account to the latest issue. 

cadguy77

Sea_Shell said:

Barkin said:

Just noticed that Shawbrook EA is now 4.93%

Will an issue 33 get increased too automatically?  I currently only have £5 in there, but will move some in if so.

Probably not, but send quick secure message once logged in and they'll upgrade you to the latest issue

PixelPound

Wheres_My_Cashback said:

Donegal_Paul said:

Hi all, I've just noticed the TSB are offering a monthly saver account with 5% interest rate (£25 minimum deposit) 
The 5% is fixed for a year, pay in £25 to £250 a month but after a year it stops the 5% and converts to only 1.35%
It's instant access and you already need to have a current account. Hope it helps someone.

It’s a now poor Regular Saver that’s been around for a long time and not an Easy Access a/c so not for this thread, though you can make withdrawals/close.

Considering at least one more BoE raise is expected 5% could soon be below what several EAS offer.