The Top Easy Access Savings Discussion Area

Notepad_Phil

RG2015 said:

Notepad_Phil said:

RG2015 said:

dcs34 said:

RG2015 said:

dcs34 said:

DireEmblem said:

Back to thread topic, is there by any chance a community spreadsheet or something with the best rates out there?

I’m aware Virgin do 2% up to £1000, but what comes next?

Virgin 2% up to £2000

I guess this is a humorous comment.

After this it will be Virgin 2% up to £3,000?

Well if you think it humourous I did mean it as serious advise though!

In which case, how do you get Virgin 2% on up to £2,000?

Open two accounts would be my guess.

Agreed, but why not three or four, or even more as some have reported on this site.

In my opinion though, opening more than one is clearly not an official option. Otherwise VM would have not restricted the interest to £1,000 and would have said, “open ten accounts and get 2% on £10,000”.

I didn't see anything in the T&C's to stop it when I opened our half dozen, though they may have tightened it since.

typistretired

This reminds me of the time we were opening several flexdirect accounts with Nationwide they soon put a stop to that.

adindas

I understand that Marcus - Goldman Sachs saving account interest has now dropped to 0.5%.

With 0l.5% interest, It seems there is no point to keep this account as you could easily get 0.6% (or possibly 0.78% for the balance of £5,000) across all of LBG current accounts. Moreover the transfer between LBG Current account is seamless.

Is there any disavantage to cancel the Marcus account ??

Waht is the easiest way to cancel this Marcus account ??
Thanks

colsten

Apparently, if you close your Marcus account, for some weird reason you cannot get another one in the future. I have kept mine with £1 in it.

I-LOV-MONEY

colsten said:

Apparently, if you close your Marcus account, for some weird reason you cannot get another one in the future. I have kept mine with £1 in it.

They are not taking on new customers, so if you close the account and want to start again, you would be like a new customer.

Where do you get 0.6 / 0.78% from  Is it worth moving for a few pence more each year?

Consumerist

I-LOV-MONEY said:

. . . Where do you get 0.6 / 0.78% from  Is it worth moving for a few pence more each year? . . .

Lloyds group current accounts presently pay 0.6% on first £4k + 1.5% on £4k - £5k.

No telling how much longer this may last so might not be worth the bother.

colsten

I-LOV-MONEY said:

colsten said:

Apparently, if you close your Marcus account, for some weird reason you cannot get another one in the future. I have kept mine with £1 in it.

Where do you get 0.6 / 0.78% from  Is it worth moving for a few pence more each year?

Not sure whether you are asking me but the 0.6% in Lloyds/BOS is obvious, and many people are still getting twice as much, or at least above 1%  (famous last words!)  in instant access accounts that are no longer available to new applicants. I think it's mainly those who never even jumped on the Marcus bandwagon as they weren't actually ever the top instant access provider. But hey, it's all history now.

MoneyLovesCompany

I believe that HMRC is currently paying 0.50% on overpaid tax. Plus it is tax free interest. Keep it there as long as you want and claim a refund when you need it. Simples!

I-LOV-MONEY

I tend to pay exactly the amount due.   Unfortunately they never contact me to say I have overpaid (unless it is a spam call !).

BigBlueSky

MoneyLovesCompany said:

I believe that HMRC is currently paying 0.50% on overpaid tax. Plus it is tax free interest. Keep it there as long as you want and claim a refund when you need it. Simples!

I hadn't even thought about this - Not a bad idea.