The Top Easy Access Savings Discussion Area

polymaff

uptdale wrote: »

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.

Oh, I, too, am stuck in the time-warp that is Birmingham Midshires - but my point stands.

badger09

ColdIron wrote: »

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

But can you fund it by DD?

Sorry, couldn't resist:p

polymaff

Looks like Premium Bonds should be somewhere up the list as of December, with, for substantial holders paying basic rate tax on their returns, an equivalent rate of 1.575%

I-LOV-MONEY

polymaff wrote: »

Looks like Premium Bonds should be somewhere up the list as of December, with, for substantial holders paying basic rate tax on their returns, an equivalent rate of 1.575%

Isn't the 'problem' with Premium Bonds, that if you don't win they don't pay any interest on your money. Okay, you maybe lucky and win within the first couple of months and you would obviously be quids in, but otherwise your money is just sitting there.

eskbanker

I-LOV-MONEY wrote: »

Isn't the 'problem' with Premium Bonds, that if you don't win they don't pay any interest on your money. Okay, you maybe lucky and win within the first couple of months and you would obviously be quids in, but otherwise your money is just sitting there.

Even if you do win they don't pay any interest on your money!

It's not a problem as such, their entire premise is that the return on the investment comprises winnings rather than interest, and the proposition is based on a truly random draw so it's unpredictable when (if at all) you'd get a return on your money, but with a large holding over a long time, it should approximate to the quoted rate of return.

fermi

Test reply. Ignore

dekkard

polymaff wrote: »

Oh, I, too, am stuck in the time-warp that is Birmingham Midshires - but my point stands.

Applied to open a Birmingham Midshires account on 21st October. I returned all the docs/cheque they asked for by return of post.

Today, 14th November, still waiting for the final letter from them so I can operate the account. 24 days since I applied !

Have now opened a Paragon account instead.

uptdale

Applied to open a Birmingham Midshires account on 21st October. I returned all the docs/cheque they asked for by return of post.
Today, 14th November, still waiting for the final letter from them so I can operate the account. 24 days since I applied !
Have now opened a Paragon account instead.

I don't blame you. I have had a similar experience, so I went with Paragon too. With Paragon I could transfer money by Faster Payments within 2 hours of applying. And Paragon acknowledged the payment by email immediately.

I am still waiting for the Paragon log in details, coming by post, to give me ready access to the money, so I am wary of making large deposits yet, but so far I'm impressed by Paragon.

dekkard

uptdale wrote: »

I don't blame you. I have had a similar experience, so I went with Paragon too. With Paragon I could transfer money by Faster Payments within 2 hours of applying. And Paragon acknowledged the payment by email immediately.

I am still waiting for the Paragon log in details, coming by post, to give me ready access to the money, so I am wary of making large deposits yet, but so far I'm impressed by Paragon.

I was with Paragon before for over a year and only left as better rates were on offer elsewhere.

I had no probs with them so happy to go back.

soulsaver

Bank of Cyprus UK have passed on in full the BoE rate rise on the Online Easy Access Ac. - So if you caught the 1.3% launch it's now 1.55%.
And if you just missed it 1.40

" Following recent changes in market conditions we have taken the opportunity to review your interest rate.

We are delighted to inform you that on 13 November 2017 we increased the underlying variable interest rate on your Online Easy Access Account from 0.60% AER/Gross* to 0.85% AER/Gross.

In addition to this increase you will also continue to receive the fixed rate bonus applicable for the first 12 months from the date of your initial deposit.
Your new total rate, including bonus, is now 1.40% AER/Gross."

PS For accounts opened on or after 14 Nov: 1.35%
http://www.bankofcyprus.co.uk/personal-savings-everyday-banking/compare-accounts/