The Top Easy Access Savings Discussion Area

vjsuk

I always check here for the best savings interest rates.
The best 1year savings account today (20.03.19)was with a new bank called Smartsave.
I clicked the link and filled in their online application form, but on completion I get an error message "We can't set up your savings account right now"
This is very odd as I have had loads of accounts with various banks, and have seven at this moment, all because of being in the top interest payers here on moneysavingexpert.
I did email smartsave and got a reply in part saying "we are in a test phase at the moment and some of our checks are a little sensitive"
They must be overly sensitive as I have an excellent credit rating and lived at the same address for just under 30 years. And as I say have never ever had any application refused in the past.
Is anyone else having a problem? And if this is a problem with several people, maybe they shouldn't show up on the top interest rate table.

eskbanker

vjsuk wrote: »

I always check here for the best savings interest rates.
The best 1year savings account today (20.03.19)was with a new bank called Smartsave.
I clicked the link and filled in their online application form, but on completion I get an error message "We can't set up your savings account right now"
This is very odd as I have had loads of accounts with various banks, and have seven at this moment, all because of being in the top interest payers here on moneysavingexpert.
I did email smartsave and got a reply in part saying "we are in a test phase at the moment and some of our checks are a little sensitive"
They must be overly sensitive as I have an excellent credit rating and lived at the same address for just under 30 years. And as I say have never ever had any application refused in the past.
Is anyone else having a problem? And if this is a problem with several people, maybe they shouldn't show up on the top interest rate table.

A couple of posters report similar problems at https://forums.moneysavingexpert.com/discussion/5977949/unable-to-open-smartsave-1-yr-fix - if it was three unsuccessful applicants out of three that would clearly be an issue, but three out of, say, three thousand, somewhat less so....

vjsuk

Thanks for the reply. I have checked out the other thread.
Seems Smartsave have withdrawn that deal anyway, so have invested in firstsave which was the 2nd best deal.

adindas

Could we have multiple Marcus Saving Accounts ??
Thx

I-LOV-MONEY

Marcus -


I don't think so, unless you can open it in a relative's name!

soulsaver

adindas wrote: »

Could we have multiple Marcus Saving Accounts ??
Thx

WE could...

I-LOV-MONEY

adindas wrote: »

Is it specifically mentioned that can not be done ??

You can have two separate individual accounts. What you can't have is a joint account. You could give them a ring just to check.

soulsaver

adindas wrote: »

Is it specifically mentioned that can not be done ??

Why do you need more than one?

adindas

soulsaver wrote: »

Why do you need more than one?

The same principles with Tesco internet accounts.

I opened marcus AC#1 (say) since October 2018 with the interest rate of 1.5%. But this interest rate includes bonus of 0.15% for 12 months, so in october it will drop to 1.35%.

If I open a new AC#2 now and keep a small balance on it, I could move the money from AC#1 to AC#2 in October 2019 when the interest rate of AC#1 drop in October 2019.

I will repeat this iteration again by opening AC#3 and close AC#1.

I am aware that interest rate is variable, but at least we are hoping that they will maintain the same interest for at least one year before they drop it.

I-LOV-MONEY

With Tesco Internet accounts you can open more than one. When the interest rates drops, you can open a new account and transfer your money from old to new account. Leave the old account open so that you can pick up any interest from that.


I don't know whether Marcus will allow you to open a new account when they drop their bonus interest rate.;