The Top Easy Access Savings Discussion Area

ColdIron

Blandiblub said:

ColdIron said:

Blandiblub said:

Are they likely to stay there now?

Who knows, they may not even know themselves yet

Might move the balance over to Santander...

I would have moved as soon as I opened the account

I guess I was focussed on the variable status of the Santander account, thinking that they could drop that even for those who opened it at 5.2%.

Chip is variable as well so they could drop their rate. Santander didn't drop the rate on the older Edition 1 when it was market leading. They just let it lag behind when it was overtaken by, well, nearly everyone, though they did increase the rate a few times in the end

You need to be on your toes in these turbulent times

flaneurs_lobster

ColdIron said:

Blandiblub said:

ColdIron said:

Blandiblub said:

Are they likely to stay there now?

Who knows, they may not even know themselves yet

Might move the balance over to Santander...

I would have moved as soon as I opened the account

I guess I was focussed on the variable status of the Santander account, thinking that they could drop that even for those who opened it at 5.2%.

Chip is variable as well so they could drop their rate. Santander didn't drop the rate on the older Edition 1 when it was market leading. They just let it lag behind when it was overtaken by, well, nearly everyone, though they did increase the rate a few times in the end

You need to be on your toes in these turbulent times

At least Santander will give you 2 months notice of any rate reduction.

SeriousHoax

Blandiblub said:

ColdIron said:

Blandiblub said:

Are they likely to stay there now?

Who knows, they may not even know themselves yet

Might move the balance over to Santander...

I would have moved as soon as I opened the account

Yeah, fair. I guess I was focussed on the variable status of the Santander account, thinking that they could drop that even for those who opened it at 5.2%. ML has suggested that's unlikely so yeah, time to move then. Ta.

I've left £1 in my chip account.
Chip > santander.

friolento

Blandiblub said:

Grabbed the 5.2% Santander account thanks to Martin's message. Currently have most of my savings in Chip. They were keen to keep competitive by increasing their rate regularly. That seems to have stopped at 4.84% - I kinda forgot about them. Are they likely to stay there now? Might move the balance over to Santander...

I used to be a fan of Chip whilst they had the leading rate, and did put up with their odd way of paying interest, which includes not paying interest for the day of deposit. I liked the truly instant nature of deposits and withdrawals, and think they still have an edge over most easy access savers, though not over Santander, in that regard. Chip are also easy and quick to open, which can't be said for others, incl. Santander.

But I moved my money out of Chip the day they got stuck on 4.51% (or thereabouts), first to Tandem, then from there to Santander, where I already had an account. If Chip ever offer market-leading rates again, I might go back. I am not tied to Santander, either - should anything better emerge, I'll move instantly.

refluxer

Tandem have reintroduced the 0.35% top-up rate, so their Instant Access Saver is now back up to 5.00%

https://www.tandem.co.uk/save/iasa

Eirambler

Must have lost a fair chunk of their deposits to Santander in the last two weeks.

Bridlington1

@soulsaver
Paragon Double Access Issue 2 will pay 5.05% from tomorrow (£1k min).

silvercue

YBS looks good at 5%.  I think I have missed out on Santander as they have not got back to me.  If not I will use the YBS account.  5% is still very decent.  

badger09

silvercue said:

YBS looks good at 5%.  I think I have missed out on Santander as they have not got back to me.  If not I will use the YBS account.  5% is still very decent.  

It is a decent rate but it is only on £10k & you are limited to 2 withdrawals a year (+ closure) so has its limitations 

refluxer

silvercue said:

YBS looks good at 5%.  I think I have missed out on Santander as they have not got back to me.  If not I will use the YBS account.  5% is still very decent.  

If you applied before the deadline, it's probably only a matter of time before Santander get back to you. They'll have been deluged by all the last-minute applications so any that require manual intervention (eg. a failed ID check) will presumably take longer to sort than those which didn't.