The Top Easy Access Savings Discussion Area

Nick_C

jaypers said:

Nick_C said:

jaypers said:

Santander - Usually interest is paid the day after the monthly anniversary. Also mention above about the 11:45pm thing on the same day…….I've also noticed direct debits going out after about 10:30pm the day before they are due, although dated correctly. I suspect that this is just the way they do their processing……not sure if it’s because they are Spanish and they operate on EST.

Why would a Spanish Bank be operating on Eastern Standard Time? 

Good spot…..I meant UTC

Spain is currently on CEST, which is two hours ahead of UTC. 

allegro120

intalex said:

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?

It's typically the next day with Santander, so I'm expecting to see the interest tomorrow.

SJMALBA

IME, Santander's interest is paid on the evening of the mensiversary, the exception being the Edge Saver, where I received notification of the increased balance at (IIRC) 23:15 on the night before the mensiversary; I can't remember if it was dated for the following day, but I was able to move the interest into my Santander EA at that time.

dealyboy

SJMALBA said:

IME, Santander's interest is paid on the evening of the mensiversary, the exception being the Edge Saver, where I received notification of the increased balance at (IIRC) 23:15 on the night before the mensiversary; I can't remember if it was dated for the following day, but I was able to move the interest into my Santander EA at that time.

@SJMALBA ... you get a 'thanks' for saying 'mensiversary', unfortunately you get no extra for using the word twice ... 

cadguy77

dealyboy said:

SJMALBA said:

IME, Santander's interest is paid on the evening of the mensiversary, the exception being the Edge Saver, where I received notification of the increased balance at (IIRC) 23:15 on the night before the mensiversary; I can't remember if it was dated for the following day, but I was able to move the interest into my Santander EA at that time.

@SJMALBA ... you get a 'thanks' for saying 'mensiversary', unfortunately you get no extra for using the word twice ... 

Everyday is a school day on this board

Bridlington1

@soulsaver
Virgin Money Defined Access E-Saver issue 19 (3 withdrawals max) now 5.12%. (£1 min).

wiseonesomeofthetime

Bridlington1 said:

@soulsaver
Virgin Money Defined Access E-Saver issue 19 (3 withdrawals max) now 5.12%. (£1 min).

Crucially here is that the withdrawals criteria is per calendar year, not your normal account year. So, January to December.

As such, it will reset in just three months time. That could be useful for some.

Rate drops to 2% from withdrawal four and onwards.

Also, if choosing the annual interest option, interest is paid in March, so therefore, within this tax year!


Annual interest is paid on 11 March and will be available the next working day. Monthly interest is paid on the 10th day of the month, and will be available the next working day.

pokemaster

Bridlington1 said:

@soulsaver
Virgin Money Defined Access E-Saver issue 19 (3 withdrawals max) now 5.12%. (£1 min).

Couple of things, when trying to sign up for this it told me I had to make a complete new account (even though I already have the M current/saver.. whats that about? TSB asked me to do the same for the switching deal (and told me they would do some computer magic to connect the accounts at a later date.... but then I have no access till I get a code through the post... (sorry slightly off topic)

And then with this saver it said could do initial deposit by debit card, I was like ooo £1.01 please from Natwest... Nope minimum is £100, even though the account minimum is £1....

pecunianonolet

wiseonesomeofthetime said:

Bridlington1 said:

@soulsaver
Virgin Money Defined Access E-Saver issue 19 (3 withdrawals max) now 5.12%. (£1 min).

Crucially here is that the withdrawals criteria is per calendar year, not your normal account year. So, January to December.

As such, it will reset in just three months time. That could be useful for some.

Rate drops to 2% from withdrawal four and onwards.

Also, if choosing the annual interest option, interest is paid in March, so therefore, within this tax year!


Annual interest is paid on 11 March and will be available the next working day. Monthly interest is paid on the 10th day of the month, and will be available the next working day.

So if interest is paid in March this tax year and presumably again in March next tax year I am not fully clear what the benefit would be between monthly or annual interest? 

janusd

YBS Internet Saver Plus 13 increased from 4.45% to 4.80% from today (4th October).