The Top Easy Access Savings Discussion Area

chris_the_bee

10_66 said:

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.

Not sure as I received the email before I had the chance to fund it. Perhaps someone will be bold enough to try funding it.

10_66

chris_the_bee said:

10_66 said:

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.

Not sure as I received the email before I had the chance to fund it. Perhaps someone will be bold enough to try funding it.

I did so on the 17th, but as it was late in the day it wouldn't have been actioned until yesterday, so won't appear until tomorrow - unless declined.  It's not been bounced back into my bank account - yet 🙄

ranciduk

C’mon Shawbrook 

no rise for a couple of weeks at least

🧐

inkydolphin

ranciduk said:

C’mon Shawbrook 

no rise for a couple of weeks at least

🧐

If this were a cycle race we would have just reached a plateau after a steep climb, unsure if there's another incline around the corner or a steady slope down to the village. Hopefully we won't be taking a wrong turning and riding off a cliff edge...

pookey

flaneurs_lobster said:

allegro120 said:

n3ophyte said:

Re: Santander Edge Current Account

I got the same message but will ignore it until I get charged.

The same here.  I will ignore it. Some people on here said that they were running Edge for a long time without DDs and never had to pay a fee.  I opened mine on 16th Aug, wasn't charged in September.  I've put £3 in each of my accounts just in case, but it turned to be unnecessary so I reduced my balances to zero.

Bit more on this from Andy @ Be Clever with your Cash

Santander Edge Saver hack update

A quick one here. Last time I shared a potential hack that suggested you could open a Santander Edge account and avoid the monthly fee – meaning you’d get the full 7% on the linked Edge Saver account (on up to £4,000).

It entailed not adding any direct debits or paying in the required minimum, which the terms and conditions suggested wouldn’t trigger the fee.

Sadly Santander have confirmed to me that this isn’t likely to work. Here’s what their press office told me:

“The fee for the Edge Account is charged once a customer qualifies for cashback for the first time. If after opening, the customer’s circumstances change and the account is no longer right for them or they don’t meet the requirements of the terms and conditions they can, or we may, switch them to a different account within our range which doesn’t charge a fee.“

The choice of “may” in the wording could be interpreted as not a guarantee you’ll be downgraded if you don’t pay the fee. So you might want to still give it a try. Let me know what happens if you do.

https://becleverwithyourcash.com/october-2023s-savings-round-up--news/?utm_source=D2Cmail&utm_medium=email&utm_campaign=Banking_savings&utm_content=2023_10_12_hyperlink#Santander_Edge_Saver_hack_update

Do people still have this without paying the fee please? The Santander edge 7% account 


I'm tempted to do it and if it gets downgraded just move the money to another account 

10_66

pookey said:

 Do people still have this without paying the fee please? The Santander edge 7% account 

I'm tempted to do it and if it gets downgraded just move the money to another account 

Yes, still got it.  I do keep getting Santander's nudges suggesting that I haven't received or don't understand the Edge Current Account terms, but nothing detrimental has happened - yet.

flaneurs_lobster

10_66 said:

pookey said:

 Do people still have this without paying the fee please? The Santander edge 7% account 

I'm tempted to do it and if it gets downgraded just move the money to another account 

Yes, still got it.  I do keep getting Santander's nudges suggesting that I haven't received or don't understand the Edge Current Account terms, but nothing detrimental has happened - yet.

Ditto. Running since 04/09.

wmb194

pookey said:

flaneurs_lobster said:

allegro120 said:

n3ophyte said:

Re: Santander Edge Current Account

I got the same message but will ignore it until I get charged.

The same here.  I will ignore it. Some people on here said that they were running Edge for a long time without DDs and never had to pay a fee.  I opened mine on 16th Aug, wasn't charged in September.  I've put £3 in each of my accounts just in case, but it turned to be unnecessary so I reduced my balances to zero.

Bit more on this from Andy @ Be Clever with your Cash

Santander Edge Saver hack update

A quick one here. Last time I shared a potential hack that suggested you could open a Santander Edge account and avoid the monthly fee – meaning you’d get the full 7% on the linked Edge Saver account (on up to £4,000).

It entailed not adding any direct debits or paying in the required minimum, which the terms and conditions suggested wouldn’t trigger the fee.

Sadly Santander have confirmed to me that this isn’t likely to work. Here’s what their press office told me:

“The fee for the Edge Account is charged once a customer qualifies for cashback for the first time. If after opening, the customer’s circumstances change and the account is no longer right for them or they don’t meet the requirements of the terms and conditions they can, or we may, switch them to a different account within our range which doesn’t charge a fee.“

The choice of “may” in the wording could be interpreted as not a guarantee you’ll be downgraded if you don’t pay the fee. So you might want to still give it a try. Let me know what happens if you do.

https://becleverwithyourcash.com/october-2023s-savings-round-up--news/?utm_source=D2Cmail&utm_medium=email&utm_campaign=Banking_savings&utm_content=2023_10_12_hyperlink#Santander_Edge_Saver_hack_update

Do people still have this without paying the fee please? The Santander edge 7% account 


I'm tempted to do it and if it gets downgraded just move the money to another account 

From many years ago the same term was on the 123 accounts and they are clear that the fee will only begin to be charged once you've added two DDs. I've had 123 accounts and now this Edge account and have never been charged a fee or had an account downgraded because I didn't add DDs.

simonsmithsays

NORTH WEST & LOYALTY EASY ACCESS SAVER (1 WITHDRAWAL)

Has anyone got a copy of the T&Cs please?

Specifically I'd like to know what the minimum opening and operating balance is and also if the 1 withdrawal is one per year or one for the lifetime of the account

TIA

infoadict

Minimum Opening is £1,000

The minimum account balance to be maintained is £1,000. Should the balance reduce below £1,000 the account will be closed.

Can't see if the withdrawal period