The Top Easy Access Savings Discussion Area

happybagger

Cahoot - Regarding the Simple Saver, I can't see anywhere that this is restricted to one account in the same way the Sunny Day Saver is. For £1, I was thinking of opening a second to start another 12 month period since my first has been open 3.5 months already.

Anyone see anything in the t&c's I've missed?

Bazzalona13295

Zaul22 said:

I do slightly wonder if EA rates will drop so low that the currently bad notice accounts around 5% will actually turn out to be good after all. 

Some of the regular savers allow withdrawals so in effect they are also easy access.......which is nice.

trickydicky14

Just opened a Skipton 'easy access Member bonus saver' have put £5 in just to start it off but it's only showing a rate of 3.80%, it should be 5.50% anyone know why?

Stargunner

trickydicky14 said:

Just opened a Skipton 'easy access Member bonus saver' have put £5 in just to start it off but it's only showing a rate of 3.80%, it should be 5.50% anyone know why?

it wont show 5.5% until your funds have cleared. If you paid in by debit card it could be 2-3 days.

sheslookinhot

trickydicky14 said:

Just opened a Skipton 'easy access Member bonus saver' have put £5 in just to start it off but it's only showing a rate of 3.80%, it should be 5.50% anyone know why?

A common post on here. If folks could just wait a day or two.

BooJewels

happybagger said:

Cahoot - Regarding the Simple Saver, I can't see anywhere that this is restricted to one account in the same way the Sunny Day Saver is. For £1, I was thinking of opening a second to start another 12 month period since my first has been open 3.5 months already.

Anyone see anything in the t&c's I've missed?

I have 2 of the Cahoot Savers, both funded.   In my case, it was by accident, as there was a glitch when first opening the account and I just ended up with 2, so used them to separate savings pots for different purposes. I was actually thinking of opening a third for the same reason, plus there's something else I want to save for, now one has got to target and the purpose probably postponed too.

trickydicky14

sheslookinhot said:

trickydicky14 said:

Just opened a Skipton 'easy access Member bonus saver' have put £5 in just to start it off but it's only showing a rate of 3.80%, it should be 5.50% anyone know why?

A common post on here. If folks could just wait a day or two.

Do you really need to come out with comments like that.

janusd

happybagger said:

Cahoot - Regarding the Simple Saver, I can't see anywhere that this is restricted to one account in the same way the Sunny Day Saver is. For £1, I was thinking of opening a second to start another 12 month period since my first has been open 3.5 months already.

Anyone see anything in the t&c's I've missed?

there's nothing I can see in there that should prevent this - I already have both Issue 1 and Issue 2 still open... never occurred to me that I could open another Issue 2 (don't need to though).

remember that the rate on this account is variable - so you're not necessarily buying yourself another 3.5 months @ 5.20%... I imagine the rate to drop before my Issue 2's expiry in October (60 days notice in rate drop).

BooJewels

janusdesign said:

happybagger said:

Cahoot - Regarding the Simple Saver, I can't see anywhere that this is restricted to one account in the same way the Sunny Day Saver is. For £1, I was thinking of opening a second to start another 12 month period since my first has been open 3.5 months already.

Anyone see anything in the t&c's I've missed?

[Snip]
remember that the rate on this account is variable - so you're not necessarily buying yourself another 3.5 months @ 5.20%... I imagine the rate to drop before my Issue 2's expiry in October (60 days notice in rate drop).

The advantage with these Cahoot accounts - and the Santander equivalent - is that whilst variable - they have to give you 60 days notice of interest rate decreases, so they become like pseudo short term fixes. In my case, I opened mine early (end August) and the current rate is slightly better just now, so perhaps worth adding a new account, as I'd expected to have spent the funds by now, but I'll be holding onto them for a bit longer. 

janusd

BooJewels said:

The advantage with these Cahoot accounts - and the Santander equivalent - is that whilst variable - they have to give you 60 days notice of interest rate decreases, so they become like pseudo short term fixes. In my case, I opened mine early (end August) and the current rate is slightly better just now, so perhaps worth adding a new account, as I'd expected to have spent the funds by now, but I'll be holding onto them for a bit longer. 

Ulster has the same 60 days notice too - though you'd have to open a current account to get it now. If you have a couple of Issue 1's, then I can see it would make sense to open an Issue 2 asap (in case it goes NLA).