The Top Easy Access Savings Discussion Area

Thumbs_Up

RG2015 said:

Eleven days on, and no one is getting anywhere near Chase.

Can others not afford it? Do they believe that the Chase rate is not sustainable?

It would be interesting to see how much money is being moved into Chase, and also when it tails off.

Maybe a lot some would be savers have crappy mobile phones so Chase can't meet their targets.

soulsaver

Maybe they're fishing to get the spill over from dislike of app only, not suiting older phones, excess over £85k fscs limit... so the scrap is for 2nd place?

The Chase round up and cash back will need deep pockets if people decide to milk it.

2010

Thumbs_Up said:

RG2015 said:

Eleven days on, and no one is getting anywhere near Chase.

Can others not afford it? Do they believe that the Chase rate is not sustainable?

It would be interesting to see how much money is being moved into Chase, and also when it tails off.

Maybe a lot some would be savers have crappy mobile phones so Chase can't meet their targets.

What`s a crappy mobile phone?
One that can`t download the Chase app?

I can`t imagine many savers would be putting vast amounts into an easy access account to warrant buying an un-crappy phone.
The other thing is you have to open Chase`s current account to get their savings account.

I`ll pass.

Daliah

soulsaver said:

The Chase round up and cash back will need deep pockets if people decide to milk it.

The round up will cost them next to nothing. Perhaps £5 on average per customer. Cashback and the savings account interest is where their real costs will be, and a fair chunk seems to get sunk into advertising.

Mr._H_2

2010 said:

What`s a crappy mobile phone?
One that can`t download the Chase app?

I can`t imagine many savers would be putting vast amounts into an easy access account to warrant buying an un-crappy phone.

You could get a very cheap second-hand phone able to run the Chase app. The account pays 0.4% more than the next-best account. If you were saving the maximum £250,000, that's £83 more per month than the next best account. That's more than enough in one month to pay for a phone able to run the app.

2010 said:

The other thing is you have to open Chase`s current account to get their savings account.

So?

Nick_C

2010 said:

The other thing is you have to open Chase`s current account to get their savings account.

I`ll pass.

1) But you don't have to use it.  You don't have to fund it.  You don't need to set up any DDs.

2)  Your loss

3)  The functionality of the savings account is brilliant, with the ability to set up Standing Orders (to Regular Savers 😊), Direct Debits, and multiple future dated scheduled payments.  The Savings Account gives you all the functionality of a current account apart from a cheque book (anyone remember those) and a debit card.  

Mr._H_2

Nick_C said:

3)  The functionality of the savings account is brilliant, with the ability to set up Standing Orders (to Regular Savers 😊), Direct Debits, and multiple future dated scheduled payments.

Yes; that was a very pleasant surprise.

quirkydeptless

I'm so addicted to this game I'd move money from a 1.00% savings to a 1.01%

You'd usually get a pattern in a rising at environment of someone bringing out a 1.02%, and then a rival 1.03%, just to get to the top of a best buy table.

The Chase rate though has blown all of that out of the water. They should rename it the Chase Me account

Most of my lower rate easy access is there now and there has been some long overdue ruthless culling of some accounts. The 1% YBS is currently quivering in its boots as I approach... "but please, not me, I have a prize draw... "

CheekyMikey

2010 said:

Thumbs_Up said:

RG2015 said:

Eleven days on, and no one is getting anywhere near Chase.

Can others not afford it? Do they believe that the Chase rate is not sustainable?

It would be interesting to see how much money is being moved into Chase, and also when it tails off.

Maybe a lot some would be savers have crappy mobile phones so Chase can't meet their targets.

What`s a crappy mobile phone?
One that can`t download the Chase app?

I can`t imagine many savers would be putting vast amounts into an easy access account to warrant buying an un-crappy phone.
The other thing is you have to open Chase`s current account to get their savings account.

I`ll pass.

What’s the issue with having to open a Chase current account? I’ve just ignored it and the accompanying debit card and am viewing Chase purely as a savings account…

Wheres_My_Cashback

For many the thought of app only banking scares them, but to me its the future and if it means lower overheads and better rates I'm all for it.

For many, assumptions are made that it's too difficult and too complicated, but those people tend to be those with their head in the sand and not willing to move with the times. Generally speaking modern technology makes life a lot easie and more convenient than older methods.

Traditional high street banks and banking methods are being left behind and will continue to move further behind as technology improves further.

As for cheques......

Chase since the 1.5% was announced and it's been plain sailing apart from a few error messages due high volumes on day1.
All funds kept in the saver and current a/c at  £0, moving funds when required. Someone earlier in the thread stated that moving funds daily was too much faffing and hard work. Yea, the 29 seconds it just took me to move money was exhausting!!