The Top Easy Access Savings Discussion Area

mebu60

jaypers said:

Not that anyone with any sense still uses it anyway, but……..

Excuse me, I have £500 in there! The Virgin Money M Plus current account (with about £5 in there) is the back-up to my main current account held elsewhere so I keep £500 in the saver just in case as it's 0.5% more than the current account.

pokemaster

Makes you wonder if Nationwide do purchase it they will put it back up to the current one and say how good they are for doing that? 

TheBanker

pokemaster said:

Makes you wonder if Nationwide do purchase it they will put it back up to the current one and say how good they are for doing that? 

It'll be several years before Nationwide take control of Virgin, if the deal goes ahead at all. I think the savings market will look very different by then and nobody will even remember this rate cut. 

happybagger

And Nationwide "we're different because we're a mutual" scarcely ever appear in best buy savings rates, whereas Virgin Money are often there. Personally I hope the deal doesn't get done.

liamcov

Barclays Rainy Day saver - my statement says 5% but some places here say 5.12% - what is the difference here?

janusdesign

liamcov said:

Barclays Rainy Day saver - my statement says 5% but some places here say 5.12% - what is the difference here?

the gross rate is 5%, the AER is 5.12%
Rainy Day Saver rates | Barclays

Qyburn

allegro120 said:

This makes the total number of my Virgin profiles 4.  They still haven't managed to bring Claydesdale and Yorkshire profiles together,  I wonder if this will change when Nationwide will complete the purchase.

Probably just add to it.

Mr._H_2

janusdesign said:

liamcov said:

Barclays Rainy Day saver - my statement says 5% but some places here say 5.12% - what is the difference here?

the gross rate is 5%, the AER is 5.12%
Rainy Day Saver rates | Barclays

At the risk of over-complicating matters, but to be completely accurate, the 5.12% AER rate is not achievable if you deposit anything more than £4793.44 at account opening and don't make any withdrawals over the next year.

This is because the 5.12% AER rate assumes compounding, i.e. "interest on interest": at the end of the month, interest is added to the account, increasing the balance and then the next month, you are earning interest on your original deposit, plus the previous month's interest. However, because the interest on the account is 5% only up to £5000, and 1.15% on balances above that, you would earn 5.03% AER if you deposited £5000 at account opening and left it there for a year.

Bridlington1

@soulsaver
Monument EA  5.11% £25k min (across all accounts) now NLA

soulsaver

Bridlington1 said:

@soulsaver
Monument EA  5.11% £25k min (across all accounts) now NLA

Still available on their webby atm 15.54 hrs. No doubt it will disappear shortly if Moneyfacts are correct (usually)...