The Top Easy Access Savings Discussion Area

lhsecons

Deleted_User said:

canaldumidi said:

Yes but my High Street, and many other High Streets, does not have a YBS branch.

Who needs a branch to operate bank & savings accounts? I use a thing called Internet through which I do all my banking without ever needing to clamber up a branch. Branches are now mainly for birds to sit on!

That may be the reason why all accounts are listed first and then high street ones. The clue is in the name!!

Daliah

MarsdenCuckoo said:

Deleted_User said:

MarsdenCuckoo said:

So I checked back why I commented.....

Nationwide is included as the Top High Street instant access account @ 0.45% but it's limited to 3 withdrawals a year at that rate.  YBS definitely beats that surely?

Maybe, but https://moneyfacts.co.uk suggests there are 14 others that beat YBS.

Had a quick look and got to say am not a fan.  It includes accounts that are not exactly comparable e.g. some accounts whilst you may get instant access only pay interest on maturity so effectively are fixed term IMHO.

I think you are confusing accessibility with the date interest is paid. Just because some accounts only pay interest once a year, as opposed to monthly, doesn't mean you don't have access to your capital. The time the interest is paid does not determine whether an account is fixed term or instant access, and this is not a matter of opinion but a matter of fact.

Whether interest is paid monthly or annually, the AER compares the interest paid on a like for like basis.

Primrose

Deleted_User said:

canaldumidi said:

Yes but my High Street, and many other High Streets, does not have a YBS branch.

Who needs a branch to operate bank & savings accounts? I use a thing called Internet through which I do all my banking without ever needing to clamber up a branch. Branches are now mainly for birds to sit on!

This method may be very convenient for you but the reality is there are thousands of elderly and disabled individuals who don,t have internet access or computer skills whose lives are being seriously distressed and inconvenienced by the closure of their local banks.

  In the last six months we have seen two national  bank branches close in our local area and I cant tell you how much anxiety and distress it has caused for such people.  Like the use of cash rather than credit cards I feel it's important to keep  all banking methods in constant use so that this section of the  community are still able to function effectively.

canaldumidi

Deleted_User said:

canaldumidi said:

Yes but my High Street, and many other High Streets, does not have a YBS branch.

Who needs a branch to operate bank & savings accounts? I use a thing called Internet through which I do all my banking without ever needing to clamber up a branch. Branches are now mainly for birds to sit on!

You've missed the point. Whether you, or I, need a branch is irrelevant.

I was responding to

MarsdenCuckoo said:

So I checked back why I commented.....

Nationwide is included as the Top High Street instant access account @ 0.45% but it's limited to 3 withdrawals a year at that rate.  YBS definitely beats that surely?

The moneysaving expert website lists Nationwide as the top High Street account here: It excludes YBS as YBS is not a High Street bank, which is what MarsdenCuckoo was queryimg.

Daliah

canaldumidi said:

The moneysaving expert website lists Nationwide as the top High Street account here: It excludes YBS as YBS is not a High Street bank, which is what MarsdenCuckoo was queryimg.

Nationwide is not a High Street Bank

Both, Nationwide and YBS are Building Societies with High Street branches.

lhsecons

Daliah said:

canaldumidi said:

The moneysaving expert website lists Nationwide as the top High Street account here: It excludes YBS as YBS is not a High Street bank, which is what MarsdenCuckoo was queryimg.

Nationwide is not a High Street Bank

Both, Nationwide and YBS are Building Societies with High Street branches.

I think we know this. Nobody said it was a bank. The point is it has a high street presence, for people who prefer that.

Daliah

lhsecons said:

Daliah said:

canaldumidi said:

The moneysaving expert website lists Nationwide as the top High Street account here: It excludes YBS as YBS is not a High Street bank, which is what MarsdenCuckoo was queryimg.

Nationwide is not a High Street Bank

Both, Nationwide and YBS are Building Societies with High Street branches.

I think we know this. Nobody said it was a bank. The point is it has a high street presence, for people who prefer that.

@canaldumidi implied they were by pointing out that YBS are not a bank and are therefore not listed under High Street accounts.

 Not sure why you seem to imply that YBS don’t have a presence in the High Street. They don’t have as many branches as Nationwide but excluding a company based on numbet of Branches or other size factors would seem rather odd.

murphydavid

• Just noticed the Shawbrook easy access at 0.67% on MSE best buy list . 
• Went to their website and under How to manage the account it says:  
• "Once your account is open, you can operate the account through secure message or by telephone on 0345 266 6611".
• How does that work?
• Does anyone know if this indicates that you can't go to a normal online accounts page or app; look at your dated balance sheet and request a withdrawal?

uptdale

murphydavid said:

• Just noticed the Shawbrook easy access at 0.67% on MSE best buy list . 
• Went to their website and under How to manage the account it says:  
• "Once your account is open, you can operate the account through secure message or by telephone on 0345 266 6611".
• How does that work?
• Does anyone know if this indicates that you can't go to a normal online accounts page or app; look at your dated balance sheet and request a withdrawal?

You can operate it online like other online accounts.

If you already have a Shawbrook easy access account at 0.62% you can't open the new one online, because Shawbrook only allows one easy access account at a time.  But if you message them via the website, they will upgrade your account to the new one.

murphydavid

uptdale said:

murphydavid said:

• Just noticed the Shawbrook easy access at 0.67% on MSE best buy list . 
• Went to their website and under How to manage the account it says:  
• "Once your account is open, you can operate the account through secure message or by telephone on 0345 266 6611".
• How does that work?
• Does anyone know if this indicates that you can't go to a normal online accounts page or app; look at your dated balance sheet and request a withdrawal?

You can operate it online like other online accounts.

If you already have a Shawbrook easy access account at 0.62% you can't open the new one online, because Shawbrook only allows one easy access account at a time.  But if you message them via the website, they will upgrade your account to the new one.

Good. Thank you. Most helpful.