The Top Easy Access Savings Discussion Area

dekkard

darren72 wrote: »

MSE are still listing Ulster Bank at 1.25% but this has been withdrawn from sale for new customers.

Thanks. Best to email MSE directly if you want them to update the page.

brotherbarry

Just reading through these comments, I'm struggling to see which accounts are actually worth the effort:
- Birmingham Midshire: Can't use faster payments
- Post Office: Apalling customer service, and risk of not being able to transfer money out
- Ulster Bank: Apalling customer service

Think I'll get rid of my Post Office account, before I suddenly lose access to my money.

Has anybody got any experience with the following;
- Bank of Cyprus
- ICICI Banks
- Virgin Money

Neil_Jones

Bank of Cyprus, excellent, grabbed their 1.3% rate during the two days it was available in August, faster payments are available and I haven't had a need to speak to customer services. Only gripe was their "service activation code" letter which didn't work and wasn't particularly clear to read in the first place but it was easy enough to reset.

Virgin Money, only have experience of the Regular Savers and haven't had to speak to anybody, system practically runs itself.

ButtersUK

Neil_Jones wrote: »

Bank of Cyprus, excellent, grabbed their 1.3% rate during the two days it was available in August, faster payments are available and I haven't had a need to speak to customer services. Only gripe was their "service activation code" letter which didn't work and wasn't particularly clear to read in the first place but it was easy enough to reset.

Virgin Money, only have experience of the Regular Savers and haven't had to speak to anybody, system practically runs itself.

Plenty experience with Virgin Money...obviously you'll check the current rates but the Mrs. and I both find the customer service to be good. As with almost all the providers the time spent in the phone queue can vary but it's not been unacceptable and the advisors substantially better than the PO.

skitskut

G_M wrote: »

Birm Midshires web page says you have to use DD (3 days) to transfer £ in. Is that right or can you use Faster Payments?

They say you can use Faster Payments to transfer out. But even that is next day...

You can use faster payments to pay in and out. Both happen same day.

soulsaver wrote: »

What's not so good is first deposit must be by cheque from your nominated linked account in your name.

If you already hold an account with them the cheque is not necessary to open another account.

brotherbarry wrote: »

Just reading through these comments, I'm struggling to see which accounts are actually worth the effort:
- Birmingham Midshire: Can't use faster payments
- Post Office: Apalling customer service, and risk of not being able to transfer money out
- Ulster Bank: Apalling customer service

Think I'll get rid of my Post Office account, before I suddenly lose access to my money.

Has anybody got any experience with the following;
- Bank of Cyprus
- ICICI Banks
- Virgin Money

You can definitely use faster payments with bham midshires - both in and out.
http://www.birminghammidshires.co.uk/existing-savers/managing-your-account/general-account-management/?WT.ac=BMESMYAGAM3#bank-details

Laff

serendipityinvestor wrote: »

I just followed the link to ICICI Bank on the easy access account list and after completing the application form to open an account on the final page I received an alert that the URL was not recognised. Has anyone else experienced this? I know it is unlikely but I worry as to whether the link from MSE may have been hacked and so whether I was on the correct website.

Me too, so I closed down and went direct. Hope it doesn't lose Martin his divi!

Laff

Just opened a BM account and got my acceptance email.
I quote:-

"We're pleased to confirm your internet application has been processed and you'll receive a letter requesting a cheque for your opening deposit, along with your confirmation slip and your account number within the next 10 banking days.

You'll also receive a letter confirming your Linked Account details, you'll need to allow 10 banking days for this to be set up.

Once we've deposited your initial cheque and received your signed confirmation slip, you'll receive a welcome letter by post with your username and your access token by email.

When you've received both your username and your access token you can then activate your account by going to https://www.birminghammidshires.co.uk and selecting activate."

So it's going to be a while before I'm up and running BUT at least they accept cheques. (NOT annoying at all, Martin!)
So do ICICI whose emailed acceptance was same day with full details of how to send the cheque which has gone today.
Sadly, Bank of Cyprus only accept electronic payments.
We need savings banks to accept cheques because of the very low daily online outgoing transfer limits applied by most banks, meaning large sums would take several days to send.
This is particularly relevant to people who have large sums to invest for perhaps short term, after a house sale or inheritance etc

polymaff

Laff wrote: »

We need savings banks to accept cheques because of the very low daily online outgoing transfer limits applied by most banks, meaning large sums would take several days to send.
This is particularly relevant to people who have large sums to invest for perhaps short term, after a house sale or inheritance etc

You can FPS very large sums in the time a cheque in the post might take to start earning interest, let alone clear.

uptdale

You can FPS very large sums in the time a cheque in the post might take to start earning interest, let alone clear.

Except that you can't use FP until you have the account details, and you don't get those from Birmingham Midshires until they've sent you a letter by post asking for a cheque, then you've sent the cheque, then they've sent you another letter by post giving you your user name (and an email giving you a code number). Still waiting for the second letter 3 weeks after applying for the account online, so still can't pay any money in beyond the initial cheque!

I know account security is important, but 3 weeks to get an account operational is bizarre.

ColdIron

There's a new 1.31% easy access saver from Paragon, available tomorrow

http://www.thisismoney.co.uk/money/saving/article-5062309/Paragon-Bank-launches-new-easy-access-saver-1-31.html