The Top Easy Access Savings Discussion Area

granta

allegro120 said:

BooJewels said:

soulsaver said:

***NLA*** Cahoot Simple Saver Iss2 5.12% (09/10)  ***NLA 29/01*** Now Iss3 - 4.10%

Ooh, got in just in time.  At least I should get the 5% (monthly) for another 60 days - before that presumably drops.  I reckon that might just buy 2 bottles of local beer on my holibobs.  

Recent drops are in quite big chunks too - that's over 1%.

Yes, it's best to grab them asap. Almost all best EA's in my collection are now NLA.

I've opened both (simple and sunny) Cahoots 11 days ago, still didn't receive two letters with codes for online access.  Called them today. They said that they are having a problem with their system and everything is delayed.  Can fund them anyway because I have sort code and account numbers, but I'm not in a hurry because at the moment all of my EA money are in 5.20%-5.22% already. I was also told that there is no deadline for funding these accounts, can keep them at £0 balance for about a year or more and then they will send a letter with plenty of notice to make a transaction if I still want the account to be opened.

Thanks. You've saved me a call tomorrow as I've also not received anything in the post. I'd better quickly open the Sunny Saver too.

BooJewels

@allegro120 - I already have online access to Cahoot, as I already had 2 x issue 1 accounts - so for me it was up and running very quickly.  Hopefully yours won't take too long - but at least you've now secured it.

allegro120

granta said:

allegro120 said:

BooJewels said:

soulsaver said:

***NLA*** Cahoot Simple Saver Iss2 5.12% (09/10)  ***NLA 29/01*** Now Iss3 - 4.10%

Ooh, got in just in time.  At least I should get the 5% (monthly) for another 60 days - before that presumably drops.  I reckon that might just buy 2 bottles of local beer on my holibobs.  

Recent drops are in quite big chunks too - that's over 1%.

Yes, it's best to grab them asap. Almost all best EA's in my collection are now NLA.

I've opened both (simple and sunny) Cahoots 11 days ago, still didn't receive two letters with codes for online access.  Called them today. They said that they are having a problem with their system and everything is delayed.  Can fund them anyway because I have sort code and account numbers, but I'm not in a hurry because at the moment all of my EA money are in 5.20%-5.22% already. I was also told that there is no deadline for funding these accounts, can keep them at £0 balance for about a year or more and then they will send a letter with plenty of notice to make a transaction if I still want the account to be opened.

Thanks. You've saved me a call tomorrow as I've also not received anything in the post. I'd better quickly open the Sunny Saver too.

You're welcome Yes open the Sunny before it joins NLA list, there's no commitment to fund and it might become useful in future. 

The rep said that I can request the letters again, but if I do the current codes will become invalid and it can potentially delay the process of getting online access... so the advice was to give it few more days before taking any further action.  He has confirmed that the accounts are definitely opened - that's the main thing I wanted to hear.

ccdorset

Hi,

I'm looking at opening an Easy Access savings account and think I'm going to go for either the cahoot Sunny Day Saver 5.2% or the Tandem Instant Access Saver 5%.

I doubt I will save more than £3000 this year, so the cahoot account would be fine. Am I right in thinking that the only downside of the cahoot account over the Tandem is the £3000 limit? Not sure if I'm missing something!

Thanks :-)

Middle_of_the_Road

There are some regular saving accounts with higher rates available, if you're going to build these savings over a period of time. Some of them are fixed rate, which would be of benefit if rates fall throughout the year.
Only some allow withdrawals, and some are only available if you have a current account with the provider.
If you wanted the simplicity of an account you can add to and withdraw from at anytime, the Cahoot account would be ok, but be aware the rate could reduce over a period.

Regular savings accounts 2024: Earn up to 8% (moneysavingexpert.com)

allegro120

ccdorset said:

Hi,

I'm looking at opening an Easy Access savings account and think I'm going to go for either the cahoot Sunny Day Saver 5.2% or the Tandem Instant Access Saver 5%.

I doubt I will save more than £3000 this year, so the cahoot account would be fine. Am I right in thinking that the only downside of the cahoot account over the Tandem is the £3000 limit? Not sure if I'm missing something!

Thanks :-)

If £3000 is the max you envisage to save and you want it simple then Cahoot's Sunny Day is a good choice.  However, it won't do you any harm if you open Tandem too, there's no minimum amount to keep the account going.  Because the rates are variable it is good to have backups.

1spiral

ircE said:

 Metro's 4.51% account is listed as being openable with nothing on Moneyfactscompare, though the bank's website states you need £500 in the account to earn that rate - can someone confirm this please?

Don't know about 0 balance but the bonus rate is triggered the day after your balance reaches £500. Once triggered you can then drop below £500 and keep the bonus rate.

ccdorset

Middle_of_the_Road said:

There are some regular saving accounts with higher rates available, if you're going to build these savings over a period of time. Some of them are fixed rate, which would be of benefit if rates fall throughout the year.
Only some allow withdrawals, and some are only available if you have a current account with the provider.
If you wanted the simplicity of an account you can add to and withdraw from at anytime, the Cahoot account would be ok, but be aware the rate could reduce over a period.

Regular savings accounts 2024: Earn up to 8% (moneysavingexpert.com)

allegro120 said:

ccdorset said:

Hi,

I'm looking at opening an Easy Access savings account and think I'm going to go for either the cahoot Sunny Day Saver 5.2% or the Tandem Instant Access Saver 5%.

I doubt I will save more than £3000 this year, so the cahoot account would be fine. Am I right in thinking that the only downside of the cahoot account over the Tandem is the £3000 limit? Not sure if I'm missing something!

Thanks :-)

If £3000 is the max you envisage to save and you want it simple then Cahoot's Sunny Day is a good choice.  However, it won't do you any harm if you open Tandem too, there's no minimum amount to keep the account going.  Because the rates are variable it is good to have backups.

Thanks for your replies. :-) I've opened the Cahoot Sunny Day saver so far, and will open Tandem as a backup.

I have the NatWest Digital Regular Saver currently as well. I think that's as far as I'll go in terms of regular savers at the moment, as my priority is paying off my credit cards. I have to save throughout the year for things like my Service Charge and Ground Rent though, so thought these accounts would at least help earn a bit of interest along the way. :-)

HHUK

ccdorset said:

I have the NatWest Digital Regular Saver currently as well. I think that's as far as I'll go in terms of regular savers at the moment ... so thought these accounts would at least help earn a bit of interest along the way. 

Must admit I do like the NatWest Digital Regular Saver. More flexible than most, with the facility to make unlimited instant withdrawals and no requirement to close and start again after 12 months.

I had originally intended to close it after a year (having really only joined NatWest to get their switch incentive). Now that I've built up a modest sum in the Digital Regular Saver, am thinking I might as well keep it there and effectively use as an easy access account while the interest rate stays around the 6% mark. Can also continue to pay into it regularly and benefit from the higher interest unless and until the balance reaches £5,000.

And while I hang on to the NatWest Select current account (to continue to qualify for the Digital Regular Saver) I can also continue to take advantage of a couple of other features it offers (which aren't particularly well advertised) - free Rooster debit (pocket money) cards for the grandchildren, and free access to the Malwarebytes Premium anti-malware product until at least May of this year.

jaypers

Few posts in here about delayed Cahoot login details arriving. Both of my letters arrived today after 9 days. So much for them arriving separately!