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infoadict

1spiral said:

Rollinghome said:

Or you could open another account somewhere else paying better than 5.04%. See https://moneyfactscompare.co.uk/savings-accounts/

Coventry, Paragon and Ulster (I was actually moving from here to Skipton because this morning they were only 4.91%) I already have. ATM I subtract 0.25% from Shawbrook or Beehive rate because of the loss of interest on withdrawals due to the days delay in receiving funds so to me they're not competitive, won't use intermediaries such as Raisin so next is 5.04%.

Do you lose a days interest on withdrawals from Beehive if you instruct before 4pm?

Appears to me that they are treated the same as Coventry i.e you instruct on a working day, but the balance only reduces on the following day when the faster payment is made?

Would be grateful for some insight from someone who uses this account.

From their T&C's

refluxer

oz0707 said:

Bigwheels1111 said:

oz0707 said:

1spiral said:

Word of warning for the Skipton Bonus saver issue 9. There is an 85K balance limit. This applies to joint accounts too. I missed this in the T&Cs because I had issue 8 for which a joint account could exceed this. Rather pointlessly though, Skipton advised me that there is no limit to the number of accounts that can be opened so I have opened another to take the excess funds which were initially rejected by Skipton. First Direct credited these funds back within 2 hours so I have resent these in correct proportions. 8 hours later Nationwide have still not credited them back. I have been advised it can take up to 5 days for it to be credited.  So I can have 170K but need 2 accounts.    I just need to wait until NW give me my money back.

What happens if interest takes you over 85k

It’s at risk.
On a one year deal at 6% the max I would put in is 80k
That would pay £84,800, leaving you £200 under the limit.
I fixed 81k at 5% so risking £50.

Im not on about protection my concern is something happens to the account if go over 85k limit. No interest on balance or something strange like that?

As it says "You can save from £1 up to £85,000 per account", my guess would be that you could potentially deposit £85k and interest won't count towards that limit. To back that up, in the 'Savings account limits' section from the T&Cs, it also says there is a limit of £5,000,000 across all their accounts and "This limit can only be exceeded with any interest added to your account(s)". Only Skipton will be able to give you a definitive answer, though.

Just for the record though, I would never want to hold more than £85k in total in any one institution and would always include an allowance for interest that was due but not yet paid. It's just not worth the risk, IMO.

Bazzalona13295

Rollinghome said:

Middle_of_the_Road said:

ColdIron said:

There's nothing about that account that would tempt me. Barclays premier is similar but at least you get cheap (and free) points with Avios Rewards

Well I'd rather give Ulster a chance, and possibly get better service from a smaller banking outfit, than the dismal service I've heard about from them. ^

"Ulster Bank" is a trading name of Natwest Group plc, so not that small. In the UK, Ulster Bank lists Natwest banks as being its branches, so good chance it will use the same call centres etc. 

Don't know what the "exclusive branded card" looks like. Can't be any naffer than the standard purple and yellow Natwest one, but I gather those silver and gold coloured cards thought to impress nubile air-hostesses are now considered a bit '70's. Never did work for me.

1979 American Express ads...

Pavarotti dressed like Henry the 8th for some inexplicable reason!

RedImp_2

Just realised that my “round ups” in Chase account are actually earning less interest than my EA accounts.  

Might as well transfer the few £ out and turn them off

ColdIron

Yes, they were always a bit gimmicky but now 5% can be beaten they are just not worth the effort

crumpet_man

RedImp_2 said:

Just realised that my “round ups” in Chase account are actually earning less interest than my EA accounts.  

Might as well transfer the few £ out and turn them off

You can pause round ups but cannot transfer them, you have to wait until the 12 months are up and the funds will be transferred to your chosen Chase account.

friolento

crumpet_man said:

RedImp_2 said:

Just realised that my “round ups” in Chase account are actually earning less interest than my EA accounts.  

Might as well transfer the few £ out and turn them off

You can pause round ups but cannot transfer them, you have to wait until the 12 months are up and the funds will be transferred to your chosen Chase account.

Not so. You can close your Round-Up account whenever you wish.

From the Chase T&Cs: Closing the account: You can close the round-up account at any time without charge, in addition to any statutory cancellation rights you might have. We'll transfer any funds held in it (including interest) to you.

Rollinghome

Bazzalona13295 said:

Rollinghome said:

Middle_of_the_Road said:

ColdIron said:

There's nothing about that account that would tempt me. Barclays premier is similar but at least you get cheap (and free) points with Avios Rewards

Well I'd rather give Ulster a chance, and possibly get better service from a smaller banking outfit, than the dismal service I've heard about from them. ^

"Ulster Bank" is a trading name of Natwest Group plc, so not that small. In the UK, Ulster Bank lists Natwest banks as being its branches, so good chance it will use the same call centres etc. 

Don't know what the "exclusive branded card" looks like. Can't be any naffer than the standard purple and yellow Natwest one, but I gather those silver and gold coloured cards thought to impress nubile air-hostesses are now considered a bit '70's. Never did work for me.

1979 American Express ads...

Pavarotti dressed like Henry the 8th for some inexplicable reason!

My hunch is that dressing as Henry VIII gets him more noticed at airports than waving his American Express card.

1spiral

infoadict said:

Do you lose a days interest on withdrawals from Beehive if you instruct before 4pm?

Appears to me that they are treated the same as Coventry i.e you instruct on a working day, but the balance only reduces on the following day when the faster payment is made?

Would be grateful for some insight from someone who uses this account.

From their T&C's

They certainly deduct the withdrawal amount on the day you submit it despite not receiving it until the next day whereas Coventry don't deduct it until the next day so I can only assume that with Beehive you lose a days interest.

Bazzalona13295

Rollinghome said:

Bazzalona13295 said:

Rollinghome said:

Middle_of_the_Road said:

ColdIron said:

There's nothing about that account that would tempt me. Barclays premier is similar but at least you get cheap (and free) points with Avios Rewards

Well I'd rather give Ulster a chance, and possibly get better service from a smaller banking outfit, than the dismal service I've heard about from them. ^

"Ulster Bank" is a trading name of Natwest Group plc, so not that small. In the UK, Ulster Bank lists Natwest banks as being its branches, so good chance it will use the same call centres etc. 

Don't know what the "exclusive branded card" looks like. Can't be any naffer than the standard purple and yellow Natwest one, but I gather those silver and gold coloured cards thought to impress nubile air-hostesses are now considered a bit '70's. Never did work for me.

1979 American Express ads...

Pavarotti dressed like Henry the 8th for some inexplicable reason!

My hunch is that dressing as Henry VIII gets him more noticed at airports than waving his American Express card.

He waves a couple of severed heads for extra effect.