The Top Easy Access Savings Discussion Area

soulsaver

That Skipton BoE BR minus 0.19% 24month tracker (with w/ds) may remain while others sink - but it's still available after 3 weeks.. no cost, no brainer safety net IMHO.

KevinG

Zopa_Trooper said:

Anybody else feel we've reached the top and there's only one way left to go?

In the short to medium term, yes. In the long term, who knows? My mortgage rate was over 15% back in the day!

BestSeagull

BestSeagull said:

Family BS. I planned to take out some money on Monday but when I looked at my account, there was the option to nominate the date of withdrawal. So I went ahead and made the transaction now, choosing Monday as the date of withdrawal.
The amount has been deducted already. Does anyone know if they will still pay interest for today and tomorrow?

They replied to my message. No. loss of interest. 

I can see the future dated withdrawal that has been set up, even though that amount has been taken from your balance, the funds have not left the account so no interest (the 2 days) is lost. The withdrawal will then go through on Monday. 

Zerforax

KevinG said:

Zopa_Trooper said:

Anybody else feel we've reached the top and there's only one way left to go?

In the short to medium term, yes. In the long term, who knows? My mortgage rate was over 15% back in the day!

And your house was worth a fraction compared to today - both in monetary terms and income %. The world has changed.

Reports already coming out that no change in interest rate expected from BoE (and Feds Reserve/European Central Bank) next week.

snnexus6

Zopa_Trooper said:

I was thinking that maybe now is the time to lock in those rates?

We peaked a while ago, as well as analysing the easy access rates, I've been keeping an eye of the fixed rates and have taken advantage of some of them over the last few months....

For the various fixed saving rates on offer:

5 year savings peaked in July at 6%, was 5.8% for months but has just plummeted below 5%!
3 year savings peaked a bit later in July at 6.06% now 5.2%
2 year savings peaked July 6.2% - now 5.5%
1 year savings peaked October 6.2% - now 5.8% (Metro...)
6 mth savings peaked November 5.7% - now 5.49%

cricidmuslibale

snnexus6 said:

Zopa_Trooper said:

I was thinking that maybe now is the time to lock in those rates?

We peaked a while ago, as well as analysing the easy access rates, I've been keeping an eye of the fixed rates and have taken advantage of some of them over the last few months....

For the various fixed saving rates on offer:

5 year savings peaked in July at 6%, was 5.8% for months but has just plummeted below 5%!
3 year savings peaked a bit later in July at 6.06% now 5.2%
2 year savings peaked July 6.2% - now 5.5%
1 year savings peaked October 6.2% - now 5.8% (Metro...)
6 mth savings peaked November 5.7% - now 5.49%

This is very helpful information indeed, not just for me but for many others, I suspect! Thank you very much for this!

I reckon that the interest rates available on Regular Savers are either at or very close to a peak right now, and whereas e.g. the leading 1 year fixed rate savings account offered a better return overall compared to a combination of a high interest rate, easy access feeder account plus a high interest rate Regular Saver (in most cases) when NS&I’s 6.2% 1 Year Guaranteed Growth Bond was still available in early October; at present, the high interest rate feeder account (5%+) plus high interest rate Regular Saver (7%+) combo clearly beats even the current leading 1 year fixed rate account (now 5.7%) in terms of overall return generated on an identical lump sum!

Bridlington1

@soulsaver
Beehive returns with their Limited Issue Easy Access Issue 3 at 5.1% (£1k min).

Tawny_Owl_2

Ulster Bank are a pain in the butt. Like NatWest, they use a third party called HooYu to verify your identity. I dislike HooYu because you have to upload a selfie of yourself if applying online - which I find intrusive & intimidating. I complained to Ulster Bank about this, I eventually got a reply (after about 10 weeks !). When applying for Ulster's 5.2% Easy Access Saver, I also got a letter from them which stated that if I went into a NatWest branch with a photo ID then that's another method Ulster would accept. The letter also mentioned about sending original documents to their Belfast HQ, which would all be returned to the applicant.
So I decided to take the letter to my local NatWest branch, signed it and they photocopied my driving licence and told me they'd send off the documents to Ulster. It was about 2 weeks before the application would be considered closed if no ID were received.
The deadline for the ID passed, it would appear that Ulster never received the documents.
Meanwhile, I got a phone call about my complaint, and told them that I had a second complaint about their "alternative" method of verifying ID - which was too slow/didn't work at all.
I got a second phone call a few days later apologising for their poor service, and was told a cheque for £50 would be in the post as compensation for all the hassle I've had with them. Needless to say, I'm not going to re-apply to Ulster Bank, I'm going to save with a more competent organisation.

My advice : Don't bother with Ulster/NatWest. Shop around for the next best deal. Cynergy Bank are quite good, as are Marcus by Goldman Sachs & Shawbrook Bank. Also consider Building Societies like Coventry, they're very approachable and their customer service is excellent.

PloughmansLunch

I think Ulster Loyalty Saver is generally absolutely fine once it’s up and running. I did have a problem yesterday trying to pay a cheque in at a NatWest branch though - I was told it’s not possible unless you have a paying in book (have twice tried in vain to order one via Cora), and was also told that the Anytime Banking card won’t work for the usual ‘insert card and type pin’ to bring up the account details at the counter. I’ve paid into RBS instead so will now have to wait a few extra days before the deposit ends up where it should have been. 

wiseonesomeofthetime

Bridlington1 said:

@soulsaver
Beehive returns with their Limited Issue Easy Access Issue 3 at 5.1% (£1k min).

Interestingly, unlike the issue I possess, which has a bonus of 2.55% for 12 months, this issue, whilst having a lower bonus rate of 2.45%, lasts until 14 January 2025, so more than 13 months