The Top Easy Access Savings Discussion Area

ircE

janusdesign said:

that said, there is someone in this thread who periodically posts a screenshot of their excel table showing "True EA accounts" and soulsaver's list (sorry I can't remember who) - that might be the closest thing to what you want i've seen here, though no guarantees that list meets your stipulations.

Oh hello, that's me!   I mentioned last time I wasn't going to update it again given the lack of churn in accounts - and also individuals' definition of "true" easy access will be different anyway (e.g. I take any "bonuses" as the interest rate, same as soulsaver). 

I can certainly keep posting the table here if @OllyStreet and others would find it helpful. But note that I'm not doing anything special, just what @janusdesign and others have suggested: applying the appropriate filters on Moneyfactscompare and then checking for instant access on the individual account websites.

soulsaver

Close Brothers EA  5.15% £10k min (26/10). ***NLA 05/12***

'Sorry we aren’t currently offering any Easy Access Accounts'

happybagger

HTB looked good and I opened it as a hedge-my-bets, with cahoot and Santander expiring after one year.
HTB don't have a habit of increasing old accounts when rates rise so they may not be too fast when they fall.

janusd

@soulsaver
DF Capital Easy Access Account - 5.20% AER - monthly interest (paid on1st) - £1k -> £250k
Easy Access | DF Capital

nb - when you open an account, it shows as "1 Day Easy Access Account (Issue 2)" - withdrawals are next working day (e.g you give 1 day's notice to withdraw).

janusd

Tandem news from their latest email...

Savings Pots are coming to the app very soon, giving you the power to divvy up your savings and track multiple goals. With this exciting addition, we have updated how we display your interest in your Instant Saver Summary Box, to account for any pots you have open.

Pompeydave1967

Also just received this Janus , wondering what they are offering ? Only 5% on easy access at present and their fixes have dive bombed like everyone else’s so intrigued as to what additions they have added apart from pots.

ToastLady

Pompeydave1967 said:

Also just received this Janus , wondering what they are offering ? Only 5% on easy access at present and their fixes have dive bombed like everyone else’s so intrigued as to what additions they have added apart from pots.

You are not joking when you mention fixed savers dive bombing. I can't see why anyone would take their "top" fix of 5.05% for a year, over 5% for easy access.
I do think the pots will be handy though, provided their EA doesn't dive bomb too.

refluxer

ToastLady said:

Pompeydave1967 said:

Also just received this Janus , wondering what they are offering ? Only 5% on easy access at present and their fixes have dive bombed like everyone else’s so intrigued as to what additions they have added apart from pots.

You are not joking when you mention fixed savers dive bombing. I can't see why anyone would take their "top" fix of 5.05% for a year, over 5% for easy access.

Banks just set their fixed rates according to how much money they need and for how long. It presumably suits Tandem at the moment to have savers using an account that they can easily cut the rate on (such as their Instant Access Saver) rather than one they can't..

Saying that - most 1 year fixed rates are heading down towards easy access rates at the moment and even normally competitive banks like Shawbrook have got there already. This obviously gives a good indication of where they think rates will be in 12 months time, in which case opting for a 1 year fix (or longer) at around current easy access rates could end up looking like a good option in the not-too-distant future for anyone with a large easy access balance who starts to reassess whether they actually need easy access to all of it.

I think there'll be a lot of savers paying close attention to the next few BoE meetings (now that things have levelled off) and they'll need to react quickly in the even of a rate cut if they want to hold on to the current 5%+ rates (even if that means moving to a different type of account), as I can't imagine many banks will hesitate for a second to reduce their easy access rates once that base rate starts to fall !

Angelica123

Pompeydave1967 said:

Also just received this Janus , wondering what they are offering ? Only 5% on easy access at present and their fixes have dive bombed like everyone else’s so intrigued as to what additions they have added apart from pots.

I think one of the main advantages of tandem is that it is instant access. As someone who puts salary straight into savings account and then withdraws money as the SO and DD come through, I found it useful to keep Tandem open just for when quick withdrawal is desired (my other EA accounts are slower re withdrawal). 

Pompeydave1967

Looking at the new app it looks like new pots only . Not sure what advantages these have ? Interest gets put into primary a/c so assume 5% still.