The Top Easy Access Savings Discussion Area

Pompeydave1967

KevinG said:

Great excitement (not) as Atom Bank increases its Instant Saver rate from 3.95% to 4.11% AER. I keep a few pennies in there just in case it gets competitive again. 

Very uncompetitive in todays market - was it really worth it ?

SAC2334

sheffieldeagle said:

grumbler said:

liamcov said:

SirHugo said:

BestSeagull said:

SirHugo said:

BestSeagull said:

janusdesign said:

castle96 said:

Just to confirm - no£3 fee ... TRUE?if I dont bother with cashback, etc. Just want to bung £4k in there

just chatted with Santander...

14:00, Aug 17 - Sarah: The fee is applied after the conditions of the account are met for the first time.
14:01, Aug 17 - You: so if I never use the current account, there is no fee? also, is there a hard credit check done on an application for the current account ??
14:01, Aug 17 - Sarah: That's correct There is, yes

i'm not sure that I can be bothered to apply for a current account that i'm never going to use, just to access a savings account that lasts for a year for £280 in interest - i'll likely wait until there is a switch offer and then use one of my other unused current accounts for that.

I don't think I'm going to bother with this one either, too many hoops.
 And when you think about it, we're not  missing out on £280. Just on the 2% difference between Tandem at 5% and Santander at 7% so that's what, £80. Less if rates continue to rise.

No hoops - less than 10 mins to open the account, opening the Edge saver was immediate, put the 4k in and that's that.

Probably won't use the account but good to have an extra fee free card for abroad. At the end of the day it's a nice little burner account for when the next switch offer comes around that I'm eligible for. I just switched my Santander Everyday account last month.

What about the £3 fee though, and this from MSE? 

"To get it, you need a Santander Edge current account – a bills cashback account with a £3 monthly fee. And to keep the current account you must deposit at least £500 a month and have two or more active direct debits."

If you have a look through the last several pages of this thread you'll see that you don't have to fulfil the criteria you mentioned - it's only needed to activate the cashback element of the account. If you don't set up two direct debits - or pay in the £500 a month - then the £3 fee never kicks in.

The comments about this started around the morning of the 15th August.

Does this work as I also have a San Lite? Can you have both current accounts at the same time?

I have both - joint Edge and sole Lite.

Hi

Anyone have both as sole accounts? I was thinking of applying for the Edge to get the saver at 7%.

Cheers

I have a Santander Everyday current account , no charges , no cash back .I also have the Edge saver with £4k in it, funded from the Everyday Account  and its showing 6.78 % interest when I check. 

This could be a Santander glitch but I hope they honour it, if not I will switch back  to the Edge current account and try and get enough cashback to justify the bank charges.

pearl123

KevinG said:

Great excitement (not) as Atom Bank increases its Instant Saver rate from 3.95% to 4.11% AER. I keep a few pennies in there just in case it gets competitive again. 

Poor. Al Rayan is just, as bad. 

10_66

SAC2334 said:

 I have a Santander Everyday current account , no charges , no cash back .I also have the Edge saver with £4k in it, funded from the Everyday Account  and its showing 6.78 % interest when I check.

This could be a Santander glitch but I hope they honour it, if not I will switch back  to the Edge current account and try and get enough cashback to justify the bank charges.

 6.78% is the gross rate, which is 7% AER.

jak22

There have been grumbles about no PIN on the Tandem app - with access knowing the phone number is enough to get a code. After the latest update the phone now 'helpfully' offers to autofill that. This maybe OS dependent and prob uses the number from the SIM which doesn't update after porting so it's not even a good system. Autofill isn't really the direction we might want banking apps to be taking.

boingy

jak22 said:

There have been grumbles about no PIN on the Tandem app - with access knowing the phone number is enough to get a code. After the latest update the phone now 'helpfully' offers to autofill that. This maybe OS dependent and prob uses the number from the SIM which doesn't update after porting so it's not even a good system. Autofill isn't really the direction we might want banking apps to be taking.

Autobanking...

kjs31

BooJewels said:

The funny thing is, I opened a Cahoot saver a few days ago, got the 2nd letter with the security stuff in today and they didn't ask for all of it when I set up the on-line account.  Maybe they do if you hit any sort of snag.  I don't mind waiting for paper information like that, it feels a smidge more secure than everything being done digitally.  I'm not sure that instant is always good when involving money - I just plan accordingly.

I definitely had to use the code in the second letter to log on but didn’t need the password on the first letter. 

BooJewels

kjs31 said:

BooJewels said:

The funny thing is, I opened a Cahoot saver a few days ago, got the 2nd letter with the security stuff in today and they didn't ask for all of it when I set up the on-line account.  Maybe they do if you hit any sort of snag.  I don't mind waiting for paper information like that, it feels a smidge more secure than everything being done digitally.  I'm not sure that instant is always good when involving money - I just plan accordingly.

I definitely had to use the code in the second letter to log on but didn’t need the password on the first letter. 

That was what I experienced too - they asked me to set up my own password when I first 'registered' and I expected them to ask for theirs to allow me to proceed, but didn't.  But as you say, needed the security code from the latter letter.

friolento

jak22 said:

There have been grumbles about no PIN on the Tandem app - with access knowing the phone number is enough to get a code. After the latest update the phone now 'helpfully' offers to autofill that. This maybe OS dependent and prob uses the number from the SIM which doesn't update after porting so it's not even a good system. Autofill isn't really the direction we might want banking apps to be taking.

The code gets sent to the mobile you have registered and are using at the time you want to log into Tandem. What would you gain from having to manually check your message inbox, remembering the code and then manually entering it into Tandem? Or to ask the question in a different way: what do you consider the security exposure when the code is autofilled?

VNX

jak22 said:

There have been grumbles about no PIN on the Tandem app - with access knowing the phone number is enough to get a code. After the latest update the phone now 'helpfully' offers to autofill that. This maybe OS dependent and prob uses the number from the SIM which doesn't update after porting so it's not even a good system. Autofill isn't really the direction we might want banking apps to be taking.

And the person who manages to get into your tandem app can do one one of two things, see how much money you’ve got or move it all into your nominated account which they can’t access.