The Top Easy Access Savings Discussion Area

stojom

Martin Seems to have missed co-op bank Britannia access 11 account pays 1.3% up to 4 withdrawals per year. It is variable and operates by post if you wish.

sarahemmm

Moneybox 95-day savings account
Just been looking at this, and I can't see any information about when/how the interest rate may change. I want to put some money away for a while, but I don't want to have to keep checking if they have suddenly dropped the rate.

Does anyone have good or bad things to say about this one?

colsten

sarahemmm said:

Moneybox 95-day savings account
Just been looking at this, and I can't see any information about when/how the interest rate may change. I want to put some money away for a while, but I don't want to have to keep checking if they have suddenly dropped the rate.

Does anyone have good or bad things to say about this one?

Moneybox don't have any easy access accounts. Their only savings account is a 95-day notice account. They state "We will inform you as soon as possible, via the Moneybox app, of any change to the interest rate." You'd expect that they will be decent enough to give you at least 95 days notice but they don't commit to that.

sjwajw

I can't really see the point of saving cash nowadays. Both the world & this country are in a dreadful state. The banks don't want our money & they don't look after it carefully & they treat customers woefully (I wanted to write a much ruder word here!). We are sick & tired of having to jump thro hoops to get access to OUR money when it's in a bank. Just spend it & worry about the future if the future ever comes !

eskbanker

sjwajw said:

I can't really see the point of saving cash nowadays. Both the world & this country are in a dreadful state. The banks don't want our money & they don't look after it carefully & they treat customers woefully (I wanted to write a much ruder word here!). We are sick & tired of having to jump thro hoops to get access to OUR money when it's in a bank. Just spend it & worry about the future if the future ever comes !

This cheery note has the makings of a country and western song....

RedSkywalker

@sjwajw - sadly, I very much agree with you!

sarahemmm

colsten said:

They state "We will inform you as soon as possible, via the Moneybox app, of any change to the interest rate." You'd expect that they will be decent enough to give you at least 95 days notice but they don't commit to that.

It does rather smack of an attempt to get to the top of the recommendation lists, doesn't it! Still, I daresay it can't drop so badly that losing 95 days' interest makes it a worse bet than others, so here goes...

murphydavid

For what it's worth: a candle in the gloom. Charter; Paragon and PCF (I quickly add no longer a good investment) have all had notice accounts at the top of the list and all of them have taken their eye off the ball so to speak and left their slightly inflated interest rates for existing accounts to drag beyond the point where they could have fallen in line with newer lower rates. They have all also held the existing rate for the notice period after notification of intent by email. So maybe this one will do the same.
Personally I have never heard of Moneybox (except as a BBC radio 4 commentary program) although MSE seems to say it is a traditional account. I also note it shares the 85k protection between 2 but does not appear in the MSE are your savings safe linked banks list. This list shows investec (which I believe may be the other 85k sharer) as not sharing with anyone so who does Moneybox share with? This discrepancy would either stop me investing with them or cause me to do more investigation if I was interested.

Connie

Another one!

Email from ICICI today says the interest on their 95-day and 45-day Hi-Save Notice Accounts will drop as follows:

Effective from	Notice Period	AER*       |    Gross**
15th June 2020	95 Days	1.40%     |      1.39%
01st May 2020	45 Days	1.25%     |      1.24%

 (Sorry  -  just noticed this is an Easy Access Accounts thread.  I clicked the link at the end of  the Top Savings Accounts page, which said "Join the MSE Forum Discussion:  Top Savings Accounts"  -  and it took me here.).

Tim11111000111

Looks like Moneybox have just dropped their interest rate on the notice account to 1.45% for new customers - no longer a best buy. I don't know if this applies to existing customers as well (I am not one).
murphydavid I believe LISA savings with MoneyBox are held in an OakNorth Bank account and so receive protection that way.