The Top Easy Access Savings Discussion Area

allegro120

Zaul22 said:

Kroo also now has pots like Zopa and Tandem. I guess this is gonna be a thing from now on. 

The scheme is designed for people who are struggling to manage their finances. My balances in Kroo, Zopa, and Tandem accounts are £0 and won't increase until they will offer leading rates again.  Renewed my bonus rate on Tandem today just in case it will become useful in the next 12 months.

jaypers

allegro120 said:

Zaul22 said:

Kroo also now has pots like Zopa and Tandem. I guess this is gonna be a thing from now on. 

The scheme is designed for people who are struggling to manage their finances. My balances in Kroo, Zopa, and Tandem accounts are £0 and won't increase until they will offer leading rates again.  Renewed my bonus rate on Tandem today just in case it will become useful in the next 12 months.

Pots are even a great idea for people who have no issue managing their finances. For me it’s a case that I struggle allowing myself to spend sometimes on something I really would like to buy. If the money is allocated to different pots, I no longer have that emotional fight. Perhaps a strange psychological subtlety, or maybe I’m just weird! 

Pompeydave1967

I wish there was some incentive to open pots , had an email a while back from tandem explaining they are doing them now but no real advantages for me…rate etc.

allegro120

jaypers said:

allegro120 said:

Zaul22 said:

Kroo also now has pots like Zopa and Tandem. I guess this is gonna be a thing from now on. 

The scheme is designed for people who are struggling to manage their finances. My balances in Kroo, Zopa, and Tandem accounts are £0 and won't increase until they will offer leading rates again.  Renewed my bonus rate on Tandem today just in case it will become useful in the next 12 months.

Pots are even a great idea for people who have no issue managing their finances. For me it’s a case that I struggle allowing myself to spend sometimes on something I really would like to buy. If the money is allocated to different pots, I no longer have that emotional fight. Perhaps a strange psychological subtlety, or maybe I’m just weird! 

No, you are not weird What you've described is very common.  This pot system is designed to help people to manage their spending. 

Qyburn

allegro120 said:

My balances in Kroo, Zopa, and Tandem accounts are £0 and won't increase until they will offer leading rates again.  

Tandem's not far off at 5.00%. We have Santander (5.2%) and Shawbrook (5.11%) but I think those are both no longer available.

allegro120

Qyburn said:

allegro120 said:

My balances in Kroo, Zopa, and Tandem accounts are £0 and won't increase until they will offer leading rates again.  

Tandem's not far off at 5.00%. We have Santander (5.2%) and Shawbrook (5.11%) but I think those are both no longer available.

I have Santander, Ulster and DF paying 5.2%. Metro 5.22%, Chorley (1 withdrawal) 5.3%, and a number of others paying above 5%. Gatehouse is still paying 5.23% for the next 9 days. I have 5% of my savings in Gatehouse EA and can't decide where this money will go - probably split between Ulster (to delay interest until the next financial year) and RCI 95 days' notice (5.6%).
Tandem is not far off, but quite low down in the queue for me to make a deposit at the moment.

MrFrugalFever

allegro120 said:

Zaul22 said:

Kroo also now has pots like Zopa and Tandem. I guess this is gonna be a thing from now on. 

The scheme is designed for people who are struggling to manage their finances. My balances in Kroo, Zopa, and Tandem accounts are £0 and won't increase until they will offer leading rates again.  Renewed my bonus rate on Tandem today just in case it will become useful in the next 12 months.

Pots are absolutely not for 'people who are struggling to manage their finances'. In fact, they are great for people who have a rather structured and OCD financial management style.

Tandem at 5% is incredibly competitive as an Instant Access account and the pots feature is a welcome one at that.

dingling68

allegro120 said:

Renewed my bonus rate on Tandem today just in case it will become useful in the next 12 months.

Did you renew it on the app? I have looked but can't seem to find how? 

MrFrugalFever

dingling68 said:

allegro120 said:

Renewed my bonus rate on Tandem today just in case it will become useful in the next 12 months.

Did you renew it on the app? I have looked but can't seem to find how? 

It was a button underneath the interest rate on the app for me. It did state in their email that not everyone would be eligible for it.

Bazzalona13295

My 7% Santander rate is due to expire on or around the 25th January (a day before I usually get my interest).

I've been looking on this thread but can't find the posts about renewing at the same rate (or closing then re-opening) - who here has managed to do this successfully?