The Top Easy Access Savings Discussion Area

Zopa_Trooper

As nobody has risen to the challenge of Metro Bank at the top of the table I think its fair to say the other institutions don't see them as a threat or a real competitor in the Easy Access market.

OllyStreet

I think the "easy access" section needs an overhaul, perhaps an additional section is required because currently not a single one of the options is easily accessible and the Natwest and Close Brothers accounts both pay crap interest up to 5K and 10k respectively. We need a section for accounts that have zero stipulations, like my Chip account that pays 4.84%

janusd

Bridlington1 said:

Cahoot Sunny Day Saver 5.2% (£3k max)

nice spot - someone's been playing with the Moneyfacts investment amount settings!

• No interest paid over £3k - though you can have £1 -> £2,000,000 in it.
  
• Interest is monthly or annually (paid on anniversary).
  
• Interest is compounded into the savings account and not paid away - so like the edge saver, for any monthly interest that takes the balance over £3k, you would need to transfer the excess elsewhere manually.
  
• Account lasts for 12 months and then gets converted to a Cahoot Savings Account (currently 1.2% I think)
• 2 months notice if the interest rate drops.

as an existing Cahoot customer, the new account was opened immediately.

Malchester

janusdesign said:

Bridlington1 said:

Cahoot Sunny Day Saver 5.2% (£3k max)

nice spot - someone's been playing with the Moneyfacts investment amount settings!

• No interest paid over £3k - though you can have £1 -> £2,000,000 in it.
  
• Interest is monthly or annually (paid on anniversary).
  
• Interest is compounded into the savings account and not paid away - so like the edge saver, for any monthly interest that takes the balance over £3k, you would need to transfer the excess elsewhere manually.
  
• Account lasts for 12 months and then gets converted to a Cahoot Savings Account (currently 1.2% I think)
• 2 months notice if the interest rate drops.

as an existing Cahoot customer, the new account was opened immediately.

Same here. The instant withdrawals and deposits are the main pull for me as I will use it as immediate instant funding if needed. Also not having restrictions on just one nominated account for withdrawals is a plus. Not keen on the need for a OTP every time you log in. 

janusd

OllyStreet said:

I think the "easy access" section needs an overhaul, perhaps an additional section is required because currently not a single one of the options is easily accessible and the Natwest and Close Brothers accounts both pay crap interest up to 5K and 10k respectively. We need a section for accounts that have zero stipulations, like my Chip account that pays 4.84%

it might be easier for you to just go to the Moneyfacts EA page (setting the minimum amount to £1 and sorting by rate) and that would give you a dozen options paying more than Chip - granted, some of them will have "stipulations" (as you call it), but it's just a case of working through each of them to see which ones meet your needs.

gwapenut

SickGroove said:

So, my £1 test deposit into Gatehouse EA account which was sent around 1pm yesterday, had arrived when I checked first thing this morning.

It was also showing it was credited effective yesterday too 😁

This doesn't necessarily mean interest is earned from then, I had a phone call with either Gatehouse or Cynergy about this. I came at it form the point of view of "I'm surprised you credited it on weekends as I thought it was working days only", and after a few minutes checking she confirmed that although it may show, it won't earn interest until a working day.

flaneurs_lobster

Malchester said:

janusdesign said:

Bridlington1 said:

Cahoot Sunny Day Saver 5.2% (£3k max)

nice spot - someone's been playing with the Moneyfacts investment amount settings!

• No interest paid over £3k - though you can have £1 -> £2,000,000 in it.
  
• Interest is monthly or annually (paid on anniversary).
  
• Interest is compounded into the savings account and not paid away - so like the edge saver, for any monthly interest that takes the balance over £3k, you would need to transfer the excess elsewhere manually.
  
• Account lasts for 12 months and then gets converted to a Cahoot Savings Account (currently 1.2% I think)
• 2 months notice if the interest rate drops.

as an existing Cahoot customer, the new account was opened immediately.

 Not keen on the need for a OTP every time you log in. 

Is it just me or does the Cahoot OTP entry screen disallow paste into the input field? Bloody annoying.

janusdesign said:

Bridlington1 said:

Cahoot Sunny Day Saver 5.2% (£3k max)

nice spot - someone's been playing with the Moneyfacts investment amount settings!

• No interest paid over £3k - though you can have £1 -> £2,000,000 in it.
  
• Interest is monthly or annually (paid on anniversary).
  
• Interest is compounded into the savings account and not paid away - so like the edge saver, for any monthly interest that takes the balance over £3k, you would need to transfer the excess elsewhere manually.
  
• Account lasts for 12 months and then gets converted to a Cahoot Savings Account (currently 1.2% I think)
• 2 months notice if the interest rate drops.

as an existing Cahoot customer, the new account was opened immediately.

Yes, was quick to open. Account also gives (at least) 60 days notice of rate reduction, is that on a par with the Santander / Ulster 5.2% EA accounts?

Malchester

flaneurs_lobster said:

Malchester said:

janusdesign said:

Bridlington1 said:

Cahoot Sunny Day Saver 5.2% (£3k max)

nice spot - someone's been playing with the Moneyfacts investment amount settings!

• No interest paid over £3k - though you can have £1 -> £2,000,000 in it.
  
• Interest is monthly or annually (paid on anniversary).
  
• Interest is compounded into the savings account and not paid away - so like the edge saver, for any monthly interest that takes the balance over £3k, you would need to transfer the excess elsewhere manually.
  
• Account lasts for 12 months and then gets converted to a Cahoot Savings Account (currently 1.2% I think)
• 2 months notice if the interest rate drops.

as an existing Cahoot customer, the new account was opened immediately.

 Not keen on the need for a OTP every time you log in. 

Is it just me or does the Cahoot OTP entry screen disallow paste into the input field? Bloody annoying.

janusdesign said:

Bridlington1 said:

Cahoot Sunny Day Saver 5.2% (£3k max)

nice spot - someone's been playing with the Moneyfacts investment amount settings!

• No interest paid over £3k - though you can have £1 -> £2,000,000 in it.
  
• Interest is monthly or annually (paid on anniversary).
  
• Interest is compounded into the savings account and not paid away - so like the edge saver, for any monthly interest that takes the balance over £3k, you would need to transfer the excess elsewhere manually.
  
• Account lasts for 12 months and then gets converted to a Cahoot Savings Account (currently 1.2% I think)
• 2 months notice if the interest rate drops.

as an existing Cahoot customer, the new account was opened immediately.

Yes, was quick to open. Account also gives (at least) 60 days notice of rate reduction, is that on a par with the Santander / Ulster 5.2% EA accounts?

Yes you are right- you can't copy and paste the OTP passcode into the box to log in 

snowqueen555

OllyStreet said:

I think the "easy access" section needs an overhaul, perhaps an additional section is required because currently not a single one of the options is easily accessible and the Natwest and Close Brothers accounts both pay crap interest up to 5K and 10k respectively. We need a section for accounts that have zero stipulations, like my Chip account that pays 4.84%

Chip need to increase their rate

janusd

flaneurs_lobster said:

Is it just me or does the Cahoot OTP entry screen disallow paste into the input field? Bloody annoying.

I had assumed for years it was case-sensitive... found out last month that it isn't.

flaneurs_lobster said:

Account also gives (at least) 60 days notice of rate reduction, is that on a par with the Santander / Ulster 5.2% EA accounts?

yes - Santander & Cahoot Simple all state 'at least 2 months'; Ulster is 'at least 60 days'.