The Top Easy Access Savings Discussion Area

allegro120

ForumUser7 said:

I've gone for the 5.20% Santander Account but not really sure what to do about the 7% one. I have no intention of paying a fee and setting up the DDs etc., as I do not spend enough to recover it through cash back. This means I am ineligible although I am aware of the loophole. It seems some have successfully utilised it, but I'm not sure if it is worth the risk of being banned from Santander to have 1.80% extra for 1 year only. Any thoughts? Anyone else also feeling uncomfortable about this one?

I feel comfortable about Edge Saver. Opened 2 for myself and 2 for my spouse. I don't think there is a risk to be banned.  Few Edge holders on here reported that they never had to pay a fee.  If it comes to fee than it is still worth it (6.1%, if my calculation is not wrong).  I don't intend to set up DDs because the cash back will cover only about 65% of the fee, but can do it if they enforce the fee.  As TSB and Co-op bonuses have now been paid and there is no real need for Barclays Blue Rewards anymore I've got 6 spare DDs

Sparkymark70

So simple to open & fund this account - the only downside is how quickly will it be withdrawn ??  GO GO GO !!!

Zopa_Trooper

I've moved mine over too (easy-peasy) and unlike so many am quite happy to pay the £3 fee as that will easily be recouped from my direct debits. My only gripe, I wanted to switch my Barclays account but as I already had a Santander account they said I had to do this in a branch. Couldn't be arsed with that so I've switched the Barclays to my CHASE account and have moved the direct debits over manually. Just one left to do.

fabsaver

cadguy77 said:

Why has the MSE savings page listed both monthly and annual interest as AER at different rates? Somewhat misleading if you ask me.

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#easyaccessanalysis

To be fair they've just repeated what Santander have stated in their Key Facts document for the account. General consensus on here seems to be that Santander have made a mistake and the AER for both interest options should be 5.20%. Hopefully they'll realise and correct it.

https://forums.moneysavingexpert.com/discussion/comment/80271537/#Comment_80271537

tiger70

Do I need to close my EASY ACCESS SAVER LIMITED EDITION (ISSUE 1) and then apply for Issue 3 to get the new rate.

gt94sss2

tiger70 said:

Do I need to close my EASY ACCESS SAVER LIMITED EDITION (ISSUE 1) and then apply for Issue 3 to get the new rate.

No, you can have both at the same time

tiger70

gt94sss2 said:

tiger70 said:

Do I need to close my EASY ACCESS SAVER LIMITED EDITION (ISSUE 1) and then apply for Issue 3 to get the new rate.

No, you can have both at the same time

Just applied for Issue 3 (took a matter of seconds).  Santander are saying  

• We'll complete some final checks before we open your account

• These can take up to 3 working days, but are usually done within a couple of hours.  

 I'll check in the morning .

granta

CHIP

I've moved most of my funds to Santander today but left the account open.
Today I received a bonus payment direct to my linked account. It's not the monthly interest so I can't work out what it is as I've not had that in previous months or paid direct to my linked account. 
Any ideas??

MikeJXE

tiger70 said:

gt94sss2 said:

tiger70 said:

Do I need to close my EASY ACCESS SAVER LIMITED EDITION (ISSUE 1) and then apply for Issue 3 to get the new rate.

No, you can have both at the same time

Just applied for Issue 3 (took a matter of seconds).  Santander are saying  

• We'll complete some final checks before we open your account

• These can take up to 3 working days, but are usually done within a couple of hours.  

 I'll check in the morning .

Thats the message I received yet my account is visible 

I have had no further contact from Santander except for it's now showing by deposit of £5000 half hour later. 

Steve_xx

granta said:

CHIP

I've moved most of my funds to Santander today but left the account open.
Today I received a bonus payment direct to my linked account. It's not the monthly interest so I can't work out what it is as I've not had that in previous months or paid direct to my linked account. 
Any ideas??

granta said:

CHIP

I've moved most of my funds to Santander today but left the account open.
Today I received a bonus payment direct to my linked account. It's not the monthly interest so I can't work out what it is as I've not had that in previous months or paid direct to my linked account. 
Any ideas??

Possibly. A while back Chip were offering joining bonus' if you deposited and kept varying amounts in your account for 6 months, I think.