The Top Easy Access Savings Discussion Area

pecunianonolet

MiserlyMartin said:

I wasn't just talking about Chorley but all the other accounts you just mentioned. Market conditions are 'higher for longer'. Everything about the world economy is inflationary, especially in the UK with the huge public sector payrises and the huge minimum wage increase, which all businesses have to pass the costs on to their prices.
This is likely to get worse after the Labour government takes over as they concede to their unions. There really is no justification for rate cuts by any provider especially as most are not even giving base rate as it is.

Seems like you don't understand how economics and in particular financial markets work. A lot in finance is about expectation and anticipation and markets are usually ahead of what is going to happen so it is a simple anticipation of events to come and to price them in ahead of time. Won't be long until we find out what's going to happen with rates.

If BOE does cut the rate in June they will be accused of being political because a lot of claims made, especially on various funding claims and promises across the political spectrum, are based on lower rates as this will reduce the burden to repay dead, hence more funds available for pre election promises and post election bribes. If they don't cut the rates it will be the same accusation but from the other side. The question about how independent the BOE really is will be raised once again. A true dilemma indeed. 

Despite of those marginal cuts, there are still many competitive accounts and rates around and the market has been rather stable recently compared to very high volatility and near daily movements around a year ago. 

I'll leave it at this so we not derail much further away from the subject here. 

masonic

I seem to recall savings rates being above the base rate for long periods of time, including periods under both parties. I also recall sensible base rates under those earlier governments. History suggests that what happens in a few weeks time is not something to be concerned about in respect of this issue. Andrew Bailey is going to be around for quite a while longer, and he is influencing policy to a significant degree.

Aidanmc

Regarding Skipton FA Bonus Saver, am i correct in saying that the 6 month bonus interest period starts from when you make first deposit?

Bridlington1

Aidanmc said:

Regarding Skipton FA Bonus Saver, am i correct in saying that the 6 month bonus interest period starts from when you make first deposit?

That is correct. 

Bridlington1

@soulsaver
I appreciate it won't get a ranking but may be of interest to some:
Smart Save currently have an EA account at 5.07% via Flagstone (£10k min).

BryDav2

Re: Chase saver account 1% bonus rate.
I've just been to apply and the app says ""This limited offer is now closed", so it's now just 4.1%

jaypers

BryDav2 said:

Re: Chase saver account 1% bonus rate.
I've just been to apply and the app says ""This limited offer is now closed", so it's now just 4.1%

If you’re on Android, try updating the App.

Growingold

adindas said:

Also for withdrawal, even it says instant withdrawal but in my personal experience it will typically take at least two working days.

I disagree with this.  I find if you action a withdrawal from YBS one day it is in your account the following day.  From personal experience I have actioned a withdrawal on a Saturday and it is in my account on the Sunday!  Not all building societies do this.

1spiral

Has anyone made a second withdrawal from Skipton's "Single Access Saver". Their T&Cs state that a second withdrawal results in closure of the account. On a different forum someone stated that closing the account took several days for the money to be withdrawn. I personally have never had a problem closing an account with Skipton but the poster on the other forum replied regarding this account that "closing can’t be same day".

I need to make a withdrawal from mine so was wondering if anyone else has closed this account and can confirm or refute the statement.

Bridlington1

@soulsaver
Kent Reliance Easy Access Account - Issue 70 4.96% NLA, replaced by issue 71 at 4.85%