The Top Easy Access Savings Discussion Area

eskbanker

Primrose said:

Given all the work done on NHS ID apps and digital ID, one would think it was not beyond the competence of the financial regulatory bodies to come up with an acceptable "electoral roll" type of digital register which once individuals were signed onto the system, would work for all subsequent ID verification.

does anybody know whether this has ever been considered?   It would surely make life much simpler for all parties involved.

That's effectively what the credit ratings agencies provide, so financial institutions will typically conduct electronic ID verification checks with their preferred CRA, as a separate exercise from an actual credit check.  However, there's nothing forcing smaller players to use this method....

uptdale

eskbanker said:

That's effectively what the credit ratings agencies provide, so financial institutions will typically conduct electronic ID verification checks with their preferred CRA

I guess that's where the problem is.  There's so much incorrect and incomplete info on the CRA's records that it's surprising that anyone puts too much faith in them.  Trying to correct it is pretty frustrating and hardly worth doing unless it really matters.

soulsaver

What happened to the 'Top Easy Access Savings' discussion? 

eskbanker

uptdale said:

eskbanker said:

That's effectively what the credit ratings agencies provide, so financial institutions will typically conduct electronic ID verification checks with their preferred CRA

I guess that's where the problem is.  There's so much incorrect and incomplete info on the CRA's records that it's surprising that anyone puts too much faith in them.  Trying to correct it is pretty frustrating and hardly worth doing unless it really matters.

Sounds like a pretty jaundiced view, presumably based on a poor personal experience, but yes, I'm not defending the CRA databases as perfect, although I believe that most issues will relate to the data provided by the institutions - I was just pointing out that they're already acting as the centralised verification databases that the previous poster was suggesting be developed.  The fact that there are multiple versions is undoubtedly unhelpful though....

Anyway, this is all getting a bit off-topic for a thread about easy access accounts so I'll leave it there!

I-LOV-MONEY

soulsaver said:

What happened to the 'Top Easy Access Savings' discussion? 

You are in it !!

UncleK

I’m not sure it’s too off-topic. The best account isn’t just interest rates - if they are painful to access that’s a consideration - for me, at least. 

MarsdenCuckoo

Haven't been on here for a while so apologies if this has already been asked......

MSE is the first place I check for financial advice so I was surprised recently when I found that Yorkshire Building Society have been offering 0.5% interest on their instant access E-Saver account since June 2021.  Why isn't that included in the MSE Top Easy Access Savings Accounts?

refluxer

MarsdenCuckoo

MSE is the first place I check for financial advice so I was surprised recently when I found that Yorkshire Building Society have been offering 0.5% interest on their instant access E-Saver account since June 2021.  Why isn't that included in the MSE Top Easy Access Savings Accounts?

It's because the top 4 accounts all pay more than that and the tables are usually limited to the top 3-4 accounts.

UncleK

Charter offer 0.6% - although we applied a month ago and haven't heard back.

Tesco also offer 0.6%

Aldermore offer 0.6% as well, although limited to two withdrawals a year

Buckinghamshire also 0.6% with one withdrawal a year

Then Investec with 0.58% and Leeds BS with 0.55% both beat the YBS.

I guess how long should the list be........?

MarsdenCuckoo

UncleK said:

Charter offer 0.6% - although we applied a month ago and haven't heard back.

Tesco also offer 0.6%

Aldermore offer 0.6% as well, although limited to two withdrawals a year

Buckinghamshire also 0.6% with one withdrawal a year

Then Investec with 0.58% and Leeds BS with 0.55% both beat the YBS.

I guess how long should the list be........?

So Charter maybe OK - eventually.  Tesco Bank are closing their accounts soon.  Aldermore and Buckinghamshire are limited withdrawals.  Investec and Leeds BS?