The Top Easy Access Savings Discussion Area

RedImp_2

cloud_dog said:

Bridlington1 said:

@soulsaver
Shawbrook EA Issue 36 now 5.02% (£1k min).

I really like Shawbrook, but sometimes I wish they'd stop feking about with piddle rises!

Although I’ll be more upset when the message starts we’re sorry to inform you rather than we’re pleased!

mebu60

charlie12525 said:

mebu60 said:

janusdesign said:

Futuristic said:

mebu60 said:

How rude of Cynergy! Returned from holiday last night with one of my tasks this morning to close and transfer Issue 65 to Issue 66 at 5.0% (yes, I'm sad enough to keep an eye on these things while away) only to find it's now Issue 67 at 4.95%. Hope this isn't indicative of a general reverse in the direction of travel. See what Thursday brings. 

I'm still confused why people stick around with Cynergy? Don't you have to open and close issues manually? 

Tandem is at 5% right now and very easy to use for example. 

I like Cynergy and ordinarily it would be my goto "instant" EA account - but their recent login issues and the Santander account meant that I moved a large chunk of its balance to Santander.

the opening/closure of new issues is pretty automated in the sense that it's just a couple of clicks - no big deal...

As well as Cynergy close and transfer being very straightforward, as has been pointed out many times before, there is also the benefit of accrued interest from the previous account(s) being crystallised and earning interest in the latest account. 

With Cynergy you lose a day's interest due to the 1 day withdrawal delay.
Also the open/transfer/close thing with each new issue means you get a new account number. Another entry on my spreadsheet and another account to think about when I complete my first tax return next year. This may not bother most people though.

There's no withdrawal delay on Cynergy. I took out the surplus >£85k after the last close and transfer and it arrived pretty quickly. The new account no is a bit tedious if you are depositing but you could always leave an old account open and feed the new account through that if you don't want to create a new payee with your bank. 

gt94sss2

gt94sss2 said:

My Community Finance is now paying 5.01% on balances above 20k

https://www.mycommunityfinance.co.uk/savings-accounts/easy-access-account/easy-access-savings

Increased again - now at 5.03% AER

searching4bestrates

cloud_dog said:

Bridlington1 said:

@soulsaver
Shawbrook EA Issue 36 now 5.02% (£1k min).

I really like Shawbrook, but sometimes I wish they'd stop feking about with piddle rises!

At least they're increasing (marginally) their rates regularly, I guess!

Better than no increase at all, or worse, a reduction! 

1spiral

janusdesign said:

it sometimes crosses my mind to open a second account (that I won't close) and just use that for new deposits,

I do exactly that. Setting up new payees and doing a £1 test deposit is a PITA. My Cynergy "deposit" account now only pays 1%.

gwapenut

How soon after funding Kent Reliance with the minimum opening balance of £1000 can the amount in the account dropped to the minimum operating balance of £1 ?

soulsaver

gwapenut said:

How soon after funding Kent Reliance with the minimum opening balance of £1000 can the amount in the account dropped to the minimum operating balance of £1 ?

As soon as you're happy with 0.1%...

Rollinghome

pecunianonolet said:

cloud_dog said:

Bridlington1 said:

@soulsaver
Shawbrook EA Issue 36 now 5.02% (£1k min).

I really like Shawbrook, but sometimes I wish they'd stop feking about with piddle rises!

Same here but more annoyed that you always miss out on one day of interest when you withdraw with this account, hence why I never opened one and only have an ISA with them.

I've never used or looked at Shawbrook, but it was always the case that some banks/bs paid interest for the day a deposit was received and not for the day withdrawn, while others did it the other way round, i.e. paid interest for the day of withdrawal but not for the day received.  Never both, afaik.

Does Shawbrook do neither, and is it made clear in their terms?  If so, how can they give a correct AER projection if paying a day short?

StayinAlive

Re Tandem Instant Access, I just tried to send them 8k through Open Banking from Lloyds and it failed due to above the daily limit. I then tried 5K was went through OK.

According to True Layer's web site, the limit through Lloyds is £99,999 and Lloyds own limit is £25,000.

Any ideas why there was a problem?

TIA

Futuristic

StayinAlive said:

Re Tandem Instant Access, I just tried to send them 8k through Open Banking from Lloyds and it failed due to above the daily limit. I then tried 5K was went through OK.

According to True Layer's web site, the limit through Lloyds is £99,999 and Lloyds own limit is £25,000.

Any ideas why there was a problem?

TIA

Open banking can have its own limit often lower than FPS or sometimes same, I guess Lloyds is lower.