The Top Easy Access Savings Discussion Area

sparkyspark

Coventry Building Society Savings

On 1 May 2022, we will increase most of our variable savings rates, by up to 0.25%. You can see if the rate on your account will go up here.

 If the rate on your account has been affected, we will contact you by 29 April 2022.

SeriousHoax

Cynergy Bank Online Easy Access Account 1.20% AER

https://www.cynergybank.co.uk/personal-savings/online-easy-access-account/

ranciduk

SeriousHoax said:

Cynergy Bank Online Easy Access Account 1.20% AER

https://www.cynergybank.co.uk/personal-savings/online-easy-access-account/

Only for the first year?

UncleK

SeriousHoax said:

Cynergy Bank Online Easy Access Account 1.20% AER

https://www.cynergybank.co.uk/personal-savings/online-easy-access-account/

Ho hum - I guess it's been nine days so a long time coming

jimexbox

I pulled everything out of Coventry bs for Chase. They only react when they see savings removed. 

FatherTireseus

Molehusband said:

I've had a Kent Reliance easy access account (D31) for a number of years. Over that time the interest rate has started to fall behind most of the competition and is now languishing at 0.45%. So yesterday I decided to take action to improve the rate by opening a new account (issue 48). This is paying 0.7%, which is not brilliant but certainly significantly better than the 0.45% I'm currently getting.

I've just had a phone chat with their agent and was amazed by what they told me. They tell me that tomorrow (14th) the rate on my D31 is being increased to an amazing 0.85%. This is even significantly better than the 0.7% being offered on the new account I've just opened. They tell me they are not aware of any plans to increase the 0.7% rate on my newly opened issue 48.

So the bottom line is that (unless I've misunderstood / been misinformed) I see no point in funding the new Issue 48 and prefer to stick with my old D31. It may be worth anyone else here with an old Kent Reliance savings account checking with them in case the rate for their old account may also suddenly take off like a rocket!

Yes, I got an email today saying my old D31 account interest rate was being improved from 0.45% to 0.85%, with effect from tomorrow.

I hadn't got much in it (really I was only keeping a very small amount in it to keep one account open with Kent Reliance to make it easier to open up new accounts if they ever had competitive interest rates again).  Their email came about 24 hours after I had pulled out almost all of my remaining balance to put into my Marcus account.  “¯\_(ツ)_/¯ “

Edit: and I also got an email from Coventry saying they were improving interest rates on their Four Access Saver, again a day or two after I'd made a significant withdrawal to move into Marcus....

Bobblehat

UncleK said:

SeriousHoax said:

Cynergy Bank Online Easy Access Account 1.20% AER

https://www.cynergybank.co.uk/personal-savings/online-easy-access-account/

Ho hum - I guess it's been nine days so a long time coming

.... and only half a day since I pulled the money out of their 0.9% and put it into the 1.1% (I was waiting for that digipass device to arrive for 14 days!). 

 :'(

Daliah

FatherTireseus said:

Yes, I got an email today saying my old D31 account interest rate was being improved from 0.45% to 0.85%, with effect from tomorrow.

I have a very ancient D31 which sits on 0.1% as my balance is significantly lower than the min £1K required for the higher AER.  I am still not tempted by 0.85% and won't keep the account any longer as it was only meant as a placeholder in case they launch something worthwhile for existing customers. I reckon the chances for that are now next to nil, so I am calling it a day with KRBS.

UncleK

And from Ford Money "I can confirm the current interest rate is 0.73% on the Flexible Saver product. We review our interest rates regularly and will contact you regarding any interest rate changes to your product." Not encouraging............

VKE

AndyTh_2 said:

murphydavid said:

Glad you said that. I was naively thinking that my existing Cynergy account rate had gone up to 1.1% but no it is/was still stuck at 0.7%. No loyalty goes unpunished. New account - transfer done. Its a bit annoying that I now have to set up a new payee in my current account and test it with a small amount to make sure I don't do a typo. etc.  

Someone might have said on here already, but you could keep one of the older Cynergy accounts open (only transfer the money out) and keep using that as the payee from your current account.

 Its a little bit extra effort as 2 transfers (current -> old cynergy, then old cynergy - new cynergy), but also ensures less mistakes in entering payee details, and probably less fraud flag scoring.

My husband does what AndyTh 2 said; it gives him something to do on his lunch break where as I have all info logged on my excel FInance Tracker; just a case of whats best person-2-person