The Top Easy Access Savings Discussion Area

friolento

tg99 said:

Can you see current interest rate in the app or on online banking for the Metro savings account?

I can see it in the app. Probably also online but I don't log in there if I don't have to.

gwapenut

There is a risk that your money becomes temporarily inaccessible with metro Bank. When DotComunity credit union had troubles many years ago, they entered a phase where they were still trading but not allowing anyone to draw out their money. That phase lasted for a few months. It was only when they finally went insolvent that the FSA stepped in and promptly gave us and our money back, including accrued interest

soulsaver

The ToTP EA ranked-by-rate list updated, links and availability checked as at 12.30hrs, caveat added re Metro Bank. See the whole document by clicking on the link in signature box..

1 Metro Bank Limited Edition Instant Access  5.22% (10/11) **Risk? Note discussion here.**

2 Ulster Bank Loyalty Svr  5.20% £5k+ (29/09)

3 Cynergy Online EA iss 68  5.15% (05/10)

4 Hampshire Trust Bank Online E A  (Iss15) - 5.15% (13/11)

5 Close Brothers EA  5.15% £10k min (26/10).

6 Beehive Limited Issue 5.15% (inc 1st yr bonus). £1k min opening (07/11)

7 Skipton BS Single Access 5.15% £15kmin (13/10)

8 Cahoot Simple Saver 5.12% (09/10)

9 Virgin Money Defined Access E-Saver issue 19  'Tri' 5.12% (04/10) 

10 Secure Trust Access Account Issue 9  5.10% £1kmin (05/10).

11 Yorkshire BS Loyalty Six Access  5.10% (04/10)

ETA Hampshire TB: See below.

friolento

gwapenut said:

There is a risk that your money becomes temporarily inaccessible with metro Bank. When DotComunity credit union had troubles many years ago, they entered a phase where they were still trading but not allowing anyone to draw out their money. That phase lasted for a few months. It was only when they finally went insolvent that the FSA stepped in and promptly gave us and our money back, including accrued interest

It would have been the FSCS that paid people their money back. The FSA, even as the predecessor to the FCA, did not have much to do with the DotCommunity issue, as this issue happened in 2015, after the FCA got created in April 2013. But yes, all DotCommunity savers did eventually get their money back, with interest.

I suppose similar could happen with Metro though they are considerably less shady and considerably larger than DotCommunity was, and there would be much, much more publicity about the issue, and thereby much more pressure on Metro / FSCS / FCA / PRA to swiftly return any monies owed to savers.

janusdesign

@soulsaver

Hampshire Trust Bank Online Easy Access Account (Issue 15) - 5.15% (£1 -> £250,000)

soulsaver

janusdesign said:

@soulsaver

Hampshire Trust Bank Online Easy Access Account (Issue 15) - 5.15% (£1 -> £250,000)

Thanks. I'm guessing that's Moneyfacts info? It's not available on HTB's webby yet... 

janusdesign

soulsaver said:

janusdesign said:

@soulsaver

Hampshire Trust Bank Online Easy Access Account (Issue 15) - 5.15% (£1 -> £250,000)

Thanks. I'm guessing that's Moneyfacts info? It's not available on HTB's webby yet... 

it was, but it's mentioned on the HTB site now...

https://www.htb.co.uk/personal-savings/variable-rate-accounts

patpalloon

Things aren't looking too promising when Metro Bank is leading the best rates.

nightowl888

It sure doesn't !!!

mebu60

janusdesign said:

soulsaver said:

janusdesign said:

@soulsaver

Hampshire Trust Bank Online Easy Access Account (Issue 15) - 5.15% (£1 -> £250,000)

Thanks. I'm guessing that's Moneyfacts info? It's not available on HTB's webby yet... 

it was, but it's mentioned on the HTB site now...

https://www.htb.co.uk/personal-savings/variable-rate-accounts

I can't seem to insert the snip from HTB webpage that I'm looking at which says Issue 15 4.3% and 95 day term!!!!