The Top Easy Access Savings Discussion Area

chris_the_bee

soulsaver said:

chris_the_bee said:

soulsaver said:

Yep - I'll unwind my comments for now - and hope someone gets through the application successfully and reports back as such.
Easy Access Saver (1 Withdrawal) | Chorley Building Society (chorleybs.co.uk) .

Successfully opened and already have the North West & Loyalty Easy Access Saver (NLA) as well. 

Opened today...?

Update:-
Having opened both the North West and the Easy Access (1 Withdrawal) accounts, and despite their T's&C's saying "Other Easy Access Accounts can be held alongside this account.", it seems that what they really mean is that you cannot have more than one (! Withdrawal) account.
Email from Chorley BS today - 
"Unfortunately you cannot hold two 1 withdrawal accounts, as you already have the North West & Loyalty Easy Access Saver you are unable to open the Easy Access Saver (1 Withdrawal)."

Krakkkers

Can someone tell me if you get interest on the original £4000 on my edge saver once you go over £4000 as i just had interest applied and it is showing £4012 and interest rate 0%.

SaveTheEuro

So this is not just 1 withdrawal a year but 1 in the life of the account. Also under the previous rules you could have made a 2nd withdrawal on 31st December and the account would have reverted back to the 5.3% rate the next day (new year) - no longer an option as account converted to another type of account.

Quite remarkable to charge the terms and conditions of the product less than a week after launching it. 

castle96

Krakkkers said:

Can someone tell me if you get interest on the original £4000 on my edge saver once you go over £4000 as i just had interest applied and it is showing £4012 and interest rate 0%.

99% certain you don't. Just transfer the £12 out

flaneurs_lobster

castle96 said:

Krakkkers said:

Can someone tell me if you get interest on the original £4000 on my edge saver once you go over £4000 as i just had interest applied and it is showing £4012 and interest rate 0%.

99% certain you don't. Just transfer the £12 out

!00% certain that you do, the interest rate shows as zero if your balance is above the interest bearing tier £1-4000.

And yes, just transfer the excess out.

gt94sss2

chris_the_bee said:

BlackthornU said:

chris_the_bee said:

soulsaver said:

chris_the_bee said:

soulsaver said:

Yep - I'll unwind my comments for now - and hope someone gets through the application successfully and reports back as such.
Easy Access Saver (1 Withdrawal) | Chorley Building Society (chorleybs.co.uk) .

Successfully opened and already have the North West & Loyalty Easy Access Saver (NLA) as well. 

Opened today...?

North West opened 6th October and Easy Access (1 Withdrawal) opened today 18th October.

Email from Chorley BS today - 

We're writing to let you know of some changes to your Easy Access Saver (1 withdrawal account).

From the 18th December 2023, if you choose to make more than one withdrawal, the account will be transferred to our Chorleian account and will no longer revert to your Easy Access Savers (1 withdrawal) account in the following January.  Please note that the Chorleian account is an easy access account with no withdrawal restrictions.

This seems to be just the generally available Easy Access (1 Withdrawal) account. No notice about the NW and Loyalty account (NLA) being changed as well. New EA (1W) accounts have this condition in from the start.
https://www.chorleybs.co.uk/saving/88ae/

So this is not just 1 withdrawal a year but 1 in the life of the account. Also under the previous rules you could have made a 2nd withdrawal on 31st December and the account would have reverted back to the 5.3% rate the next day (new year) - no longer an option as account converted to another type of account.

Having opened both the North West and the Easy Access (1 Withdrawal) accounts, and despite their T's&C's saying "Other Easy Access Accounts can be held alongside this account.", it seems that what they really mean is that you cannot have more than one (! Withdrawal) account.
Email from Chorley BS today - 
"Unfortunately you cannot hold two 1 withdrawal accounts, as you already have the North West & Loyalty Easy Access Saver you are unable to open the Easy Access Saver (1 Withdrawal)."

I had this message yesterday. I reapplied and they have since opened the second account.

I am assuming someone incorrectly interpreted the rules originally, because as far as I can see you can have both accounts

Rheumatoid

flaneurs_lobster said:

castle96 said:

Krakkkers said:

Can someone tell me if you get interest on the original £4000 on my edge saver once you go over £4000 as i just had interest applied and it is showing £4012 and interest rate 0%.

99% certain you don't. Just transfer the £12 out

!00% certain that you do, the interest rate shows as zero if your balance is above the interest bearing tier £1-4000.

And yes, just transfer the excess out.

A bit confused! So if it shows as zero you still get 7% on the 4k or you get no interest at all?

ColdIron

The interest is tiered

Tier 1) £1-£4,000, 7.00%

Tier 2) >£4,000, 0%

So anything above £4,000 earns nothing while the rest earns 7.00% AER

chris_the_bee

gt94sss2 said:

chris_the_bee said:

BlackthornU said:

chris_the_bee said:

soulsaver said:

chris_the_bee said:

soulsaver said:

Yep - I'll unwind my comments for now - and hope someone gets through the application successfully and reports back as such.
Easy Access Saver (1 Withdrawal) | Chorley Building Society (chorleybs.co.uk) .

Successfully opened and already have the North West & Loyalty Easy Access Saver (NLA) as well. 

Opened today...?

North West opened 6th October and Easy Access (1 Withdrawal) opened today 18th October.

Email from Chorley BS today - 

We're writing to let you know of some changes to your Easy Access Saver (1 withdrawal account).

From the 18th December 2023, if you choose to make more than one withdrawal, the account will be transferred to our Chorleian account and will no longer revert to your Easy Access Savers (1 withdrawal) account in the following January.  Please note that the Chorleian account is an easy access account with no withdrawal restrictions.

This seems to be just the generally available Easy Access (1 Withdrawal) account. No notice about the NW and Loyalty account (NLA) being changed as well. New EA (1W) accounts have this condition in from the start.
https://www.chorleybs.co.uk/saving/88ae/

So this is not just 1 withdrawal a year but 1 in the life of the account. Also under the previous rules you could have made a 2nd withdrawal on 31st December and the account would have reverted back to the 5.3% rate the next day (new year) - no longer an option as account converted to another type of account.

Having opened both the North West and the Easy Access (1 Withdrawal) accounts, and despite their T's&C's saying "Other Easy Access Accounts can be held alongside this account.", it seems that what they really mean is that you cannot have more than one (! Withdrawal) account.
Email from Chorley BS today - 
"Unfortunately you cannot hold two 1 withdrawal accounts, as you already have the North West & Loyalty Easy Access Saver you are unable to open the Easy Access Saver (1 Withdrawal)."

I had this message yesterday. I reapplied and they have since opened the second account.

I am assuming someone incorrectly interpreted the rules originally, because as far as I can see you can have both accounts

I opened mine online yesterday and it appeared in my accounts that day, but this morning I received the email. I phoned and was basically told that I could have any number of accounts as long as the number of withdrawals was different. Hence two accounts each with one withdrawal per year is not allowed. I had not funded mine & CS said it would eventually close.

10_66

chris_the_bee said:

gt94sss2 said:

chris_the_bee said:

BlackthornU said:

chris_the_bee said:

soulsaver said:

chris_the_bee said:

soulsaver said:

Yep - I'll unwind my comments for now - and hope someone gets through the application successfully and reports back as such.
Easy Access Saver (1 Withdrawal) | Chorley Building Society (chorleybs.co.uk) .

Successfully opened and already have the North West & Loyalty Easy Access Saver (NLA) as well. 

Opened today...?

North West opened 6th October and Easy Access (1 Withdrawal) opened today 18th October.

Email from Chorley BS today - 

We're writing to let you know of some changes to your Easy Access Saver (1 withdrawal account).

From the 18th December 2023, if you choose to make more than one withdrawal, the account will be transferred to our Chorleian account and will no longer revert to your Easy Access Savers (1 withdrawal) account in the following January.  Please note that the Chorleian account is an easy access account with no withdrawal restrictions.

This seems to be just the generally available Easy Access (1 Withdrawal) account. No notice about the NW and Loyalty account (NLA) being changed as well. New EA (1W) accounts have this condition in from the start.
https://www.chorleybs.co.uk/saving/88ae/

So this is not just 1 withdrawal a year but 1 in the life of the account. Also under the previous rules you could have made a 2nd withdrawal on 31st December and the account would have reverted back to the 5.3% rate the next day (new year) - no longer an option as account converted to another type of account.

Having opened both the North West and the Easy Access (1 Withdrawal) accounts, and despite their T's&C's saying "Other Easy Access Accounts can be held alongside this account.", it seems that what they really mean is that you cannot have more than one (! Withdrawal) account.
Email from Chorley BS today - 
"Unfortunately you cannot hold two 1 withdrawal accounts, as you already have the North West & Loyalty Easy Access Saver you are unable to open the Easy Access Saver (1 Withdrawal)."

I had this message yesterday. I reapplied and they have since opened the second account.

I am assuming someone incorrectly interpreted the rules originally, because as far as I can see you can have both accounts

I opened mine online yesterday and it appeared in my accounts that day, but this morning I received the email. I phoned and was basically told that I could have any number of accounts as long as the number of withdrawals was different. Hence two accounts each with one withdrawal per year is not allowed. I had not funded mine & CS said it would eventually close.

So are they refusing the payments that have been made into the account then?  I opened the Easy Access on the 17th (having checked that it was ok to do so in their T&Cs as I already held the NW&L Easy Access).  I also received a secure message from them saying the account opening was being processed.  They're making a real pig's ear of it.