The Top Easy Access Savings Discussion Area

veryintrigued

Daliah said:

veryintrigued said:

duckson said:

veryintrigued said:

duckson said:

veryintrigued said:

polymaff said:

https://www.chase.co.uk/gb/en/legal/round-ups/

Knockout iinterest rate - but you'll knock yourself out with all those £1.01 debit card spends...

How is round up setting chosen post account set up please?

You just enable it and that is it, there is no 'level' to pick. Anything gets rounded up to the nearest pound and it sits in a seperate round up pot.

And how do you do that post set up...

Click the 'Add +' on the home page to add a new account.

So you can't do it on an existing account post initial set up..

What can't you do on an existing account post initial set up?

Bless you - thought you stated you blocked me.

duckson

veryintrigued said:

duckson said:

veryintrigued said:

duckson said:

veryintrigued said:

polymaff said:

https://www.chase.co.uk/gb/en/legal/round-ups/

Knockout iinterest rate - but you'll knock yourself out with all those £1.01 debit card spends...

How is round up setting chosen post account set up please?

You just enable it and that is it, there is no 'level' to pick. Anything gets rounded up to the nearest pound and it sits in a seperate round up pot.

And how do you do that post set up...

Click the 'Add +' on the home page to add a new account.

So you can't do it on an existing account post initial set up..

Yes, I've done it about an hour ago on an account i set up yeasterday (on Apple iOS).
Click home at the bottom of the screen and then click 'Add +' to the right of where it says 'Accounts', you are then given the option to add an account which one will be 'Round up'.

DragonQ

A Chase SO I set up from the savings account went out today as expected. Refreshing to have a savings account with SO capability again, it's probably been 10 years since the last one.

andyhicks88

Zopa are up to 1% now.

Wheres_My_Cashback

Daliah said:

polymaff said:

https://www.chase.co.uk/gb/en/legal/round-ups/

Knockout iinterest rate - but you'll knock yourself out with all those £1.01 debit card spends...

If you forced yourself to make huge numbers of £1.01 payments, don't be surprised if one or another of your accounts gets closed. You might even end up with a CIFAS marker for abuse of facility.

Can you actually back that up? I believe it's completely unnecessary scaremongering and is highly unlikely to happen.

RG2015

Wheres_My_Cashback said:

Daliah said:

polymaff said:

https://www.chase.co.uk/gb/en/legal/round-ups/

Knockout iinterest rate - but you'll knock yourself out with all those £1.01 debit card spends...

If you forced yourself to make huge numbers of £1.01 payments, don't be surprised if one or another of your accounts gets closed. You might even end up with a CIFAS marker for abuse of facility.

Can you actually back that up? I believe it's completely unnecessary scaremongering and is highly unlikely to happen.

I agree. I opened a new Chase account on Monday but have yet to transfer in any significant amounts.

The main reason is the number of users reporting requested payments being held and challenged as fraud.

When a very long standing and experienced MSE user comes up with comments like this it concerns me.

I know that multiple £1.01 payments and large transfers to a new (unverified) account are not the same, and yet I am being influenced by comments on a social media site.

In fact the blocked transfers are actual (although unverified) reports, whereas the £1.01 assertion is pure speculation.  

Daliah

Wheres_My_Cashback said:

Daliah said:

polymaff said:

https://www.chase.co.uk/gb/en/legal/round-ups/

Knockout iinterest rate - but you'll knock yourself out with all those £1.01 debit card spends...

If you forced yourself to make huge numbers of £1.01 payments, don't be surprised if one or another of your accounts gets closed. You might even end up with a CIFAS marker for abuse of facility.

Can you actually back that up? I believe it's completely unnecessary scaremongering and is highly unlikely to happen.

Feel free to consider it scaremongering. I trust you will help anyone whose accounts got closed and who might have got landed with a CIFAS market after making countless £1.01 payments.

gwapenut

Daliah said:

Wheres_My_Cashback said:

Daliah said:

polymaff said:

https://www.chase.co.uk/gb/en/legal/round-ups/

Knockout iinterest rate - but you'll knock yourself out with all those £1.01 debit card spends...

If you forced yourself to make huge numbers of £1.01 payments, don't be surprised if one or another of your accounts gets closed. You might even end up with a CIFAS marker for abuse of facility.

Can you actually back that up? I believe it's completely unnecessary scaremongering and is highly unlikely to happen.

Feel free to consider it scaremongering. I trust you will help anyone whose accounts got closed and who might have got landed with a CIFAS market after making countless £1.01 payments.

Where in the T&Cs does it say this is not allowed? Where in the CIFAS guidance does it state that spending £1.01 warrants a fraud marker? Do you have any precedents to suggest that repeatedly spending £1.01 is considered fraud, as must be the case if CIFAS get involved?

Surely one of your favourite past-times of switching what lenders often describe as your "main" current account, when in fact it's a useless donor account, is more fraudulent? I've not seen any scaremongering about that (nor do I think there should be). I know they may not ask you to tick a box saying it's your main account, but no one has ever proactively handed back the money and said "Sorry old chap but you mistakenly gave me this for switching my MAIN current account when in fact I was just killing a bit of time to relieve the boredom of retirement".

Wheres_My_Cashback

Daliah said:

Wheres_My_Cashback said:

Daliah said:

polymaff said:

https://www.chase.co.uk/gb/en/legal/round-ups/

Knockout iinterest rate - but you'll knock yourself out with all those £1.01 debit card spends...

If you forced yourself to make huge numbers of £1.01 payments, don't be surprised if one or another of your accounts gets closed. You might even end up with a CIFAS marker for abuse of facility.

Can you actually back that up? I believe it's completely unnecessary scaremongering and is highly unlikely to happen.

Feel free to consider it scaremongering. I trust you will help anyone whose accounts got closed and who might have got landed with a CIFAS market after making countless £1.01 payments.

Ludicrous comment.

Feel free to provide any evidence of any bank putting CIFAS markers on anybodies credit file due to making multiple transactions (of any amount) to make use of an incentive being offered by a financial institution.

Oh to see Lloyds Save the Change again when it was first offered. Now that was very lucrative and funnily enough never heard of any outrageous claims of CIFAS markers.

Daliah

My only remaining comment on the matter is to refer you back to the one you have commented on