The Top Easy Access Savings Discussion Area

canaldumidi

Daliah said:

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.

Fair enough.

Then can I suggest you either come up with an alternative explanation, or email the site and ask why they've omitted YBS from that particular list? I don't speak for MSE so simply answered the question as best I could, and no one seems to have a better suggestion....!

I-LOV-MONEY

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?

The only negative things I have noticed is that you must withdraw a minimum of £500.   I often withdraw much less at a time.    Also you have to make your withdrawal by 14:30 on the day.

soulsaver

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?

Compare Our Personal Savings Accounts (shawbrook.co.uk)

How do I open and manage the account?

• You can only apply for this product online. This account can be operated online, through secure message and by telephone on 0345 266 6611. You may be required to provide specific instructions via post. 
• Minimum account opening balance of £1,000.
• Minimum account operating balance £1,000.
• Maximum account deposit is £20,000.
• Maximum account balance is £250,000.

Can I withdraw money?

• Withdrawals can be made online at any time without notice and there are no limitations on the number of withdrawals you can make.
• The Cash ISA is not flexible and you may not be able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual Cash ISA subscription limit in that specific tax year.
• Withdrawals are made to your nominated account only.
• The minimum account withdrawal amount is £500. Where a withdrawal request is received prior to 2:30pm on a working day, your funds should be received into your nominated account on the next working day.
• For full details see our Terms and Conditions for Personal Savings Accounts.

 

murphydavid

soulsaver 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?

Compare Our Personal Savings Accounts (shawbrook.co.uk)

How do I open and manage the account?

• You can only apply for this product online. This account can be operated online, through secure message and by telephone on 0345 266 6611. You may be required to provide specific instructions via post. 
• Minimum account opening balance of £1,000.
• Minimum account operating balance £1,000.
• Maximum account deposit is £20,000.
• Maximum account balance is £250,000.

Can I withdraw money?

• Withdrawals can be made online at any time without notice and there are no limitations on the number of withdrawals you can make.
• The Cash ISA is not flexible and you may not be able to re-deposit withdrawn funds if the re-deposit amount takes you above the maximum annual Cash ISA subscription limit in that specific tax year.
• Withdrawals are made to your nominated account only.
• The minimum account withdrawal amount is £500. Where a withdrawal request is received prior to 2:30pm on a working day, your funds should be received into your nominated account on the next working day.
• For full details see our Terms and Conditions for Personal Savings Accounts.

 

Thanks for finding that. I didn't see that page and still can't find it (though I haven't time to search for it).
Thought I must be loosing my observation skills. so I just re-checked and when I went via their pages in the following order. Google result for "Shawbrook" then "Savings" - "Compare personal savings accounts".- "Easy Access Learn More and Apply" The relevant line says "

• Once your account is open, you can operate the account through secure message or by telephone on 0345 266 6611."

I copy pasted it here for accuracy. As you can see No mention of online. Weird they don't put it in on that page or direct me to the one you got to.

Thanks again. 

where_are_we

Shawbrook rate of .67% is best buy at the moment but with limitations on functionality.

(1) £1000 minimum or rate drops to .05% below £1000.

(2) £500 minimum withdrawal

(3) Withdrawals must be made before 2.30pm to ensure it takes one working day before money arrives in nominated account. I presume if you make a withdrawal after 2.30pm it would take 2 working days to arrive in nominated account?

If the above 3 conditions suit you then this account might be for you.

I will stick with Tesco Internet Saver @ .6% because

(1) £1 minimum to get .6%

(2) £1 minimum withdrawal

(3) Instant withdrawals anytime 24/7 including Saturdays and Sundays. (Marcus doesn`t do this)

Ok - there is a .5% bonus on Tesco IS for first 12 months but you can open a new IS anytime and restart the 12 month bonus time period.

If you have a large cash sum you could keep most in Shawbrook and a keep small amount in Tesco for instant needs.

kaMelo

where_are_we said:

Shawbrook rate of .67% is best buy at the moment but with limitations on functionality.

(1) £1000 minimum or rate drops to .05% below £1000.

(2) £500 minimum withdrawal

(3) Withdrawals must be made before 2.30pm to ensure it takes one working day before money arrives in nominated account. I presume if you make a withdrawal after 2.30pm it would take 2 working days to arrive in nominated account?

If the above 3 conditions suit you then this account might be for you.

I will stick with Tesco Internet Saver @ .6% because

(1) £1 minimum to get .6%

(2) £1 minimum withdrawal

(3) Instant withdrawals anytime 24/7 including Saturdays and Sundays. (Marcus doesn`t do this)

Ok - there is a .5% bonus on Tesco IS for first 12 months but you can open a new IS anytime and restart the 12 month bonus time period.

If you have a large cash sum you could keep most in Shawbrook and a keep small amount in Tesco for instant needs.

Marcus is pretty instant when withdrawing even Saturdays and Sundays. Not to say it's any better than Tesco but it's certainly not worse

wiseonesomeofthetime

kaMelo said:

Marcus is pretty instant when withdrawing even Saturdays and Sundays. Not to say it's any better than Tesco but it's certainly not worse

Marcus' limitation, for me, is the restriction to withdraw to a single linked account.

With my Tesco account I can withdraw to any of my accounts and therefore eliminates an extra unnecessary step when moving my money.

Oh and one's guaranteed minimum rate is 0.10% for 12 months and the other 0.50%, but the amounts I have in each are not great so the bonus element isn't a deal-breaker either way for me.

That said, I have both anyway 😁

I-LOV-MONEY

kaMelo said:

Marcus is pretty instant when withdrawing even Saturdays and Sundays. Not to say it's any better than Tesco but it's certainly not worse

Try withdrawing cash after 23:00 and you find it isn't actioned until after 00:01 the next day.

At weekends, sometimes it doesn't happen until Monday morning.

It always amuses me that the e-mail receipt you receive says if "it wasn't you... contact the office between 9am - 8pm Monday to Friday".   If an unauthorised withdrawal had been made, I think I would want to contact someone in the least amount of time !

typistretired

Cynergy Bank have been offering 0.70% on easy access since 19 November only just spotted. Includes bonus of 0.40% and it looks like they are paying monthly interest as next interest on account I opened today is 4th January 2022. No end date to bonus showing yet. Another bank that should be like Marcus as I keep opening accounts and transferring internally

where_are_we

Tescobank have just launched a new Internet Saver account paying .69% with a bonus element which lasts 12 months. Minimum balance of £1 and easy access to a linked account.