The Top Easy Access Savings Discussion Area

Member42

gunjin wrote: »

I really wish MSE would indicate which savings companies use Faster Payments and which still use BACS. Waiting 2-4 days for a transfer to complete is inefficient and tedious and a deal-stopper for me nowadays.

I have found that FP is available to/from most places; all those with a "bank" in their name as well as B.Midshsires, Post Office, Cov. BS, Notts BS to name a few.
The "nuisance" can be that the feature is not obvious or offered, but can be found in the FAQs ... or even in answers on this forum.

AirlieBird

Tesco to increase rate for new Internet Saver accounts to 1.30% later today.
Should add for those not familiar with how Tesco accounts work to wait until the website is showing the new rate before opening the account as it won't be increased on accounts opened prior to the new rate being offered.

Edit: now available

TheBanker

I have the old Tesco Internet Saver paying 1.2%. Is it permitted to open a new one at 1.3% and transfer my money across?

Malchester

The Banker

Yes it is. I have done this many times with Tesco Savings accounts. Currently on 1.35% (not available to new customers)

I-LOV-MONEY

Malchester wrote: »

The Banker

Yes it is. I have done this many times with Tesco Savings accounts. Currently on 1.35% (not available to new customers)

How do you manage to get 1.35%.? My old bonus rate just expired so I opened a new account at 1.2% I suppose I will have to do it again. Such a bother, wish they would just transfer all their customers automatically.

ColdIron

You had to get in before they raised the standard rate to 0.55% but lowered the bonus rate to 0.65%. It wasn't available for long

AirlieBird

I-LOV-MONEY wrote: »

How do you manage to get 1.35%.?

Accounts opened between 28 September 2017 and 30 November 2017 currently receive 1.35%. Accounts opened between 11 August and 27 September 2017 receive 1.31%.

gunjin

Member42 wrote: »

I have found that FP is available to/from most places; all those with a "bank" in their name as well as B.Midshsires, Post Office, Cov. BS, Notts BS to name a few.
The "nuisance" can be that the feature is not obvious or offered, but can be found in the FAQs ... or even in answers on this forum.

Do PO now offer true FP? The last time I had a savings account with them it was managed by an Irish bank and didn't support immediate FP so money still took over 24 hours to move...

Member42

Yes ... Post Office is operated through Bank of Ireland (NB, so is the AA account for FSCS purposes) and I have used the FP; almost instant tfrs - depending on day/time of transaction.

EachPenny

Just had an email from Ford Money saying the Flexible Saver interest rate is going up to 1.22% AER/Gross annual (or 1.21% AER/Gross monthly) from 24 January.

Still a little bit behind Tesco, but shows continued positive movements