The Top Easy Access Savings Discussion Area

RosieRooBear

KevinG said:

1spiral said:

I had a Newcastle tracker a few years back which tracked 0.7% above base rate. At the point in time it became too competitive, they closed it to new funding. The account had already been long withdrawn but they reached a point where they wouldn't let even existing holders add new funds.

Below, not above. I still have mine with about £1 in it, paying 4.55%, 0.7% below 5.25%.

@KevinG, 1spiral is referring to a Newcastle Tracker they had a few years back at 0.7% above the base rate, not the most recent one which is tracking 0.7% below the base rate 😊

happybagger

That's what they do, if it becomes too expensive to run they first make it NLA, then if it still costs a lot close them to further deposits to existing customers (like Hanley's Branch account did recently) so the balances naturally reduce over time as customers withdraw.

I remember a Shepshed BS account paying BBR +3% in the past...

There's no guarantee Skipton's tracker won't do the same.

1spiral

RosieRooBear said:

KevinG said:

1spiral said:

I had a Newcastle tracker a few years back which tracked 0.7% above base rate. At the point in time it became too competitive, they closed it to new funding. The account had already been long withdrawn but they reached a point where they wouldn't let even existing holders add new funds.

Below, not above. I still have mine with about £1 in it, paying 4.55%, 0.7% below 5.25%.

@KevinG, 1spiral is referring to a Newcastle Tracker they had a few years back at 0.7% above the base rate, not the most recent one which is tracking 0.7% below the base rate 😊

Exactly, I think when BR was 0.5, they closed it to new deposits. When BR was 0.1, they were still paying 0.8 whereas the best you could get elsewhere was 0.5.

patpalloon

I was able to auto renew my top up with Tandem - so have 5% for another 12 months.

Futuristic

patpalloon said:

I was able to auto renew my top up with Tandem - so have 5% for another 12 months.

Where can you renew the top up bonus? Thx

KevinG

RosieRooBear said:

KevinG said:

1spiral said:

I had a Newcastle tracker a few years back which tracked 0.7% above base rate. At the point in time it became too competitive, they closed it to new funding. The account had already been long withdrawn but they reached a point where they wouldn't let even existing holders add new funds.

Below, not above. I still have mine with about £1 in it, paying 4.55%, 0.7% below 5.25%.

@KevinG, 1spiral is referring to a Newcastle Tracker they had a few years back at 0.7% above the base rate, not the most recent one which is tracking 0.7% below the base rate 😊

OK, my mistake.

where_are_we

patpalloon said:

I was able to auto renew my top up with Tandem - so have 5% for another 12 months.

 " The Top Up of 0.35% AER1 (variable) on your Instant Access Savings Account will expire on 19-Jan-24 and your rate will reduce to the underlying rate of 4.65% AER1 (variable).

Check the Tandem app to see if you can top up your rate again.The Top Up of 0.35% AER1 (variable) on your Instant Access Savings Account will expire on 19-Jan-24 and your rate will reduce to the underlying rate of 4.65% AER1 (variable).

Check the Tandem app to see if you can top up your rate again.

Log into your app and look for the 'Renew Top Up’ button:"

Got the above email today and renewed my top up. I then got the following reply email:

"Your rate of 5.0% AER1 (variable) including a top up of 0.35% AER1 (variable) will be applied to your account from 19-Jan-24 until 19-Jan-25."

However their wording above is ambiguous and I think "patpallon" is mistaken thinking that they "have 5% for another 12 months". My reading of it is that the 5% is variable and can change at any time, most probably in a downward direction.

refluxer

Yep - the only bit of the Tandem Instant Access Saver rate that is fixed (and therefore guaranteed) is the 0.35% bonus, unfortunately.

...or so i presumed ! (see comments below)

patpalloon

where_are_we said:

patpalloon said:

I was able to auto renew my top up with Tandem - so have 5% for another 12 months.

 " The Top Up of 0.35% AER1 (variable) on your Instant Access Savings Account will expire on 19-Jan-24 and your rate will reduce to the underlying rate of 4.65% AER1 (variable).

Check the Tandem app to see if you can top up your rate again.The Top Up of 0.35% AER1 (variable) on your Instant Access Savings Account will expire on 19-Jan-24 and your rate will reduce to the underlying rate of 4.65% AER1 (variable).

Check the Tandem app to see if you can top up your rate again.

Log into your app and look for the 'Renew Top Up’ button:"

Got the above email today and renewed my top up. I then got the following reply email:

"Your rate of 5.0% AER1 (variable) including a top up of 0.35% AER1 (variable) will be applied to your account from 19-Jan-24 until 19-Jan-25."

However their wording above is ambiguous and I think "patpallon" is mistaken thinking that they "have 5% for another 12 months". My reading of it is that the 5% is variable and can change at any time, most probably in a downward direction.

Fair point, but I was happy to see the top up could be renewed as I seem to remember they limited this when first launched. Remember how they were miles ahead wh3n they brought out 5% EA?

flobbalobbalob

refluxer said:

Yep - the only bit of the Tandem Instant Access Saver rate that is fixed (and therefore guaranteed) is the 0.35% bonus, unfortunately.

Unfortunately the 0.35% is a top up and the terms say is also variable. 30 days notice for a reduction.