The Top Easy Access Savings Discussion Area

elkiedee

Someone who wants branch access should maybe find out about what's available on their own local high street/somewhere reasonably close by and accessible by preferred mode of transport and/or where they would go for other reasons. And look at local building societies.

Some regional building societies offer some accounts with at least some reasonable rates, monthly access and branch access - however, I've opened a couple of Coventry savings accounts because I can manage them online, but I'm nowhere near any of their branches. I also use Nationwide - the rates are mostly not high enough to be top rates but there's a branch just over a mile away (at the moment) and enough branches within a bus journey of home for me to hope that visiting remains an option for a while. 4 o4 5 miles away seems a bit far for me, but savers in rural areas and small towns might want somewhere that they can drive in and park nearby.

crumpet_man

mebu60 said:

crumpet_man said:

I'm looking for some help to find the best/highest interest paying easy access savings account which pays monthly interest and does not require internet or app to manage the account as the user of said account prefers branch and telephone access.  It would also be a bonus if the monthly interest is automatically paid to an external account.  Failing that, I need to be able to setup a standing order from the savings account to an external account.

Any suggestions?  Possibly some of you are using a savings account in this way.

TIA.

Aren't you going to be limited to the institutions with accessible branches for the user? 

That's exactly the issue.  To get the best rate you generally need online and/or app and there will definitely not be branch access and possibly no telephone access.

I see that Halifax and Lloyds have restrictive (limited withdrawals) easy access  for about 4%.  

Anything local and without restrictions is no more than 2%.

If I expand my search to include no branch access but must have telephone and online (but not app as no smartphone) then I can get about 5% with Secure Trust and a bit less with Marcus.

The Secure Trust one might fit the bill as it has:

• Unlimited withdrawals can be made to your Nominated Account without notice
• Interest paid monthly into a Nominated Account or credited to this account

This account is for someone without a smartphone, limited use of internet (I can help but would prefer them to be completely independent) and they can visit a branch if it is a bus ride away and they can use the telephone.

Other people must have had the same issue when looking for savings accounts for older people and/or those with no smartphone/internet access.

CuparLad

What about the Hampshire Trust Bank Online Easy Access Account (Issue 17) @ 5.06%? Although it has to be opened online, it can be managed by telephone or post (plus online).

Bobblehat

Not knowing where the person lives and how far they are willing to travel (and by what mode of transport) means it is hard to recommend specific Banks/Building Socs etc.

For example I am willing to visit branches in my over-60's travel pass area no matter how far they are away from my home, provided the bus or train journey is covered by the pass. That can be over 30 miles away, in several different directions. That covers a huge number of potential Banks/BS's. I just regard it as a day out or combine it with a shopping trip. Your would be saver might not be willing or able to do that, so it's hard to recommend a particular Bank/BS.

happybagger

I think we could give better suggestions knowing the location really

mebu60

crumpet_man said:

This account is for someone without a smartphone, limited use of internet (I can help but would prefer them to be completely independent) and they can visit a branch if it is a bus ride away and they can use the telephone.

Other people must have had the same issue when looking for savings accounts for older people and/or those with no smartphone/internet access.

Yup. While the elderly lady was still independent just continued with the high street bank she'd always used. Managed to persuade her to let me put £50k into premium bonds for her to reduce the >£85k balance though was still over FSCS limit. The winnings went back into the bank account.

Sadly she has succumbed to dementia, very happy in her own world in a lovely care home near the niece who has PoA. Money now invested to help with the care home fees. 

tr7phil

mebu60 said:

crumpet_man said:

This account is for someone without a smartphone, limited use of internet (I can help but would prefer them to be completely independent) and they can visit a branch if it is a bus ride away and they can use the telephone.

Other people must have had the same issue when looking for savings accounts for older people and/or those with no smartphone/internet access.

Yup. While the elderly lady was still independent just continued with the high street bank she'd always used. Managed to persuade her to let me put £50k into premium bonds for her to reduce the >£85k balance though was still over FSCS limit. The winnings went back into the bank account.

Sadly she has succumbed to dementia, very happy in her own world in a lovely care home near the niece who has PoA. Money now invested to help with the care home fees. 

Maybe worth considering a carehome annuity, they have the advantage of being free of income tax when paid directly to the home which is a big consideration when considering the amount of income required to pay the fees.

gt94sss2

My Community Bank (https://mycommunitybank.co.uk/,)

On February 22, 2024, we increased the interest rate on our Easy-Access savings accounts from an AER of 5.08% to 5.13%, for balances above £20,000.

Following this, on February 23, 2024, we further increased the interest rate on our Easy-Access accounts for balances above £20,000. The interest rate has now been raised from an AER of 5.13% to 5.17%.

lr1277

crumpet_man said:

I'm looking for some help to find the best/highest interest paying easy access savings account which pays monthly interest and does not require internet or app to manage the account as the user of said account prefers branch and telephone access.  It would also be a bonus if the monthly interest is automatically paid to an external account.  Failing that, I need to be able to setup a standing order from the savings account to an external account.

Any suggestions?  Possibly some of you are using a savings account in this way.

TIA.

It might be antithetical to say this on this particular thread, but here goes.....
There are Income bonds from National Savings. Not the best interest rate but can be opened and operated online, by phone or by post.

InvesterJones

lr1277 said:

crumpet_man said:

I'm looking for some help to find the best/highest interest paying easy access savings account which pays monthly interest and does not require internet or app to manage the account as the user of said account prefers branch and telephone access.  It would also be a bonus if the monthly interest is automatically paid to an external account.  Failing that, I need to be able to setup a standing order from the savings account to an external account.

Any suggestions?  Possibly some of you are using a savings account in this way.

TIA.

It might be antithetical to say this on this particular thread, but here goes.....
There are Income bonds from National Savings. Not the best interest rate but can be opened and operated online, by phone or by post.

Income bonds can't be accessed though until they mature, they're not easy access accounts.