The Top Easy Access Savings Discussion Area

ColdIron

yaddayadda wrote: »

I don't really understand why the best buy section of this article doesn't include the first direct regular saver with 5% interest

That'll be because it's about easy access savings accounts and the First Direct Regular Saver Account is a regular savings account and not an easy access account. Technically you can access your savings quite easily but since you lose most of the interest it's not much use in that department

It is however the top account in the regular savings account section

https://www.moneysavingexpert.com/savings/best-regular-savings-accounts

yaddayadda

Ah ok thanks

Reed_Richards

Yorkshire Building Society just released Issue 9 of their Single Access Saver account with an interest rate of 1.25% (up 0.05% from Issue 8). The account runs for a year from the date of opening and must be closed to access your savings early, but this can be done at any time (after the first 14 days) without penalty.

FB13

I'm trying to decide between Cyprus and Paragon if they are both offering 1.31% now. Other than needing to switch away from Cyprus after a year, is there any reason to pick one over the other?

I saw that Paragon's T&Cs say that withdrawing money takes at least a day. Does that mean that you lose a day or two of interest?
"We’ll transfer money to your Nominated Account by the end of the next Business Day as along as we receive your request before 2pm on a Business Day – if not; the transfer will be done on the next Business Day"

dekkard

FB13 wrote: »

I'm trying to decide between Cyprus and Paragon if they are both offering 1.31% now. Other than needing to switch away from Cyprus after a year, is there any reason to pick one over the other?

I saw that Paragon's T&Cs say that withdrawing money takes at least a day. Does that mean that you lose a day or two of interest?
"We’ll transfer money to your Nominated Account by the end of the next Business Day as along as we receive your request before 2pm on a Business Day – if not; the transfer will be done on the next Business Day"

Did you mean Kent Reliance, not Paragon? The latter doesn't seem to be offering 1.31% rn.

ColdIron

dekkard wrote: »

Did you mean Kent Reliance, not Paragon? The latter doesn't seem to be offering 1.31% rn.

It is from today, Limited Edition

https://www.paragonbank.co.uk/savings/savings-accounts?tabid=Easy-Access

FB13

ColdIron wrote: »

It is from today, Limited Edition

https://www.paragonbank.co.uk/savings/savings-accounts?tabid=Easy-Access

Yeah, that is the account I was asking about. Since the rates are the same, I was looking for some reason to differentiate them.

FB13 wrote: »

Other than needing to switch away from Cyprus after a year, is there any reason to pick one over the other?

I saw that Paragon's T&Cs say that withdrawing money takes at least a day. Does that mean that you lose a day or two of interest?

garwen57

Just opened a new account yesterday (Saturday) and transferred money online from my old account (which went out immediately) but still my balance shows £0.00 in Paragon. Do I need to worry?

george4064

garwen57 wrote: »

Just opened a new account yesterday (Saturday) and transferred money online from my old account (which went out immediately) but still my balance shows £0.00 in Paragon. Do I need to worry?

It probably just hasn’t gone through yet, if it still doesn’t show on Wednesday I would investigate.

AirlieBird

garwen57 wrote: »

Just opened a new account yesterday (Saturday) and transferred money online from my old account (which went out immediately) but still my balance shows £0.00 in Paragon. Do I need to worry?

Paragon only allocate deposits to the holders account during working hours, so it won't appear until some time during Tuesday. Although it won't be visible in your account until Tuesday it will be given a posted date and interested earned from the day that Paragon receive it, which should be yesterday.