The Top Easy Access Savings Discussion Area

friolento

subjecttocontract said:

I find it incredible that anyone would consider moving their money for an extra 3 pence a day ! Still the world is full of people who are all different and sometimes they surprise me.

I am very glad I could surprise you

pecunianonolet

friolento said:

subjecttocontract said:

I find it incredible that anyone would consider moving their money for an extra 3 pence a day ! Still the world is full of people who are all different and sometimes they surprise me.

I am very glad I could surprise you

0.03 x 365 days = £10.95 a year extra interest. Moving money takes 1 minute.

1 minute "work" to gain £10.95 --> 60 x £10.95 = £657 hourly rate. 

 

Wasting time watching nonsense social media videos becomes a very different perspective 

P.S. We need more MSE related smileys!  

wmb194

friolento said:

wmb194 said:

mebu60 said:

gt94sss2 said:

subjecttocontract said:

I heard today from YBS that they are launching a new easy access loyalty saver at 5.1% from tomorrow (Wednesday). It allows 3 withdrawal a year. 

Imho 5.1% is a rather disappointing rate for a YBS "loyalty" product given interest rates from others

If the Rainy Day is left at 5.0% they could see a lot of £10ks moving across.

The Barclays Rainy Day's AER is 5.12%, 5.00% gross on up to £5k. Plus, unlike YBS, it has true instant access.

https://www.barclays.co.uk/savings/instant-access/rainy-day-saver/

If you have filled it up with £5,000, you cannot achieve 5.12%.

My £5k exited the Rainy Day Saver the day Santander launched their 5.2% instant access account.

Sure you can, you withdraw the interest every month and put it in another 5%+ paying account... Anyway, it's just for comparison. I don't trust Santander not to block everything on a whim...

BlackthornU

I see the MSE email has gone out with a subject of '5.2% big-name savings, ....' and in the body of the email 'New. Top 5.2% easy-access savings & they're from a BIG name. NatWest Group's Ulster Bank* has just launched a 5.2% AER variable easy-access saver, ie, you can put money in and withdraw it when you want... as long as you've £5,000+ to open it. If not, Coventry BS also offers 5.2% from £1 but while Ulster allows unlimited withdrawals, with Coventry you can only withdraw 3 times a year; more and you pay a penalty. Full info & more options in Top savings'

Given Ulster were struggling with customer service when their account required £50K to get the top rate of interest, I can see this going pear shaped rapidly for people trying to sign up. Even the opening process was difficult and long winded - I have lived at the same address for years and have no problems getting electronically ID'd, and bank with NatWest itself but I had to either send off ID docs to Ulster or take them to a NatWest branch for them to certify and send off (which I did). I have had 30 minute waits to talk to Ulster Customer service and then again their fraud team.

NatWest should take this over otherwise it will probably end with bad reviews for Ulster Bank (a trading name of NatWest).  

martinm1

ashteadgirl said:

ColdIron said:

That's what I have. 123 Lite for DDs and inactive Edge with £0 balance

I have the above plus an everyday account 

same here

pokemaster

Yorkshire Building Society Loyalty Six Access eSaver 2023

5.10% Yearly

12 months minimum membership to YBS required to open

Source: MoneyFacts

intalex

Today being the monthiversary of when the Santander 5.08% Gross was released, opened and first funded by many (including me), when would Santander typically credit the interest? It's already past 7am and it hasn't appeared yet for me, and I'm wondering if it'll appear later today or tomorrow?

subjecttocontract

pokemaster said:

Yorkshire Building Society Loyalty Six Access eSaver 2023

5.10% Yearly

12 months minimum membership to YBS required to open

Source: MoneyFacts

I think I might open this account. It's going to suit my circumstances quite well.
* 5.1% easy access is good......and the 6 withdrawal limit won't bother me.
* I have the Santander 5.2% easy access but am near the £85K fscs limit and need somewhere else to deposit.
* Their branch is local to me if I ever need to visit.
* I'm already a customer so will be easy & quick to open & operate.

Bridlington1

pokemaster said:

Yorkshire Building Society Loyalty Six Access eSaver 2023

5.10% Yearly

12 months minimum membership to YBS required to open

Source: MoneyFacts

Now live:
Online:
https://www.ybs.co.uk/savings/product?id=YB951757W

Branch/post:
https://www.ybs.co.uk/savings/product?id=YB881756B

Section62

pokemaster said:

Yorkshire Building Society Loyalty Six Access eSaver 2023

5.10% Yearly

12 months minimum membership to YBS required to open

Source: MoneyFacts

Worth mentioning YBS electronic withdrawals operate on a next working day basis, so this account shouldn't be used for funds that may be needed same-day.