The Top Easy Access Savings Discussion Area

jimexbox

What extra above their current rate would tempt folk to switch accounts?

Myself, probably 0.2.

janusdesign

soulsaver said:

janusdesign said:

soulsaver said:

castle96 said:

what a fool I am. Sorry. Yes it is Gatehouse I have opened. 1.3 is ? OK for easy access, and on a PC as well.. (dont do apps)

Make sure you're clear when you fund it:
It's one of those where you pay their holding bank sort code 20 32 53 & ac no 93511057 
(as per email from them when you open the ac).
In ac name: Gatehouse Bank PLC - will be confirmed by your bank.
And then in the reference, your savings ac number they give you (includes part of your name). 
IIRC must be from your linked account.

it was simple and painless to open an account with them... the only quirk I ran into is that their reference says you put a hyphen between the account number and surname, but my nominated bank wouldn't allow special characters in the reference, so removed it.. sent at 1pm, so will hopefully see it deposited tomorrow morning.

For clarity I edited the original quoted post... Note: Be guided by Gatehouse's  requirements in the reference format as it may have changed since I opened mine some time ago.. 

seems the hyphen isn't needed in the reference as the £1k is showing in the account this morning.

typistretired

Bank of England increased rate to 1% today hopefully we will see some increase in savings rates. Just noticed how high an interest banks charge for an overdraft but measly amount for savings

fwdrew

Wonder who's going to be first with the increase...
  

mlc2009

fwdrew said:

Wonder who's going to be first with the increase...
  

Is it possible that the current rates are already priced in? old rate was 0.75 and we had 1.5 with chase, which is double the base rate. 

I do remember in 2015, the base rate was 0.5 but natwest had a 2.8 percent saver. I don't see that happening now, but I could be wrong

Mr._H_2

mlc2009 said:

fwdrew said:

Wonder who's going to be first with the increase...
  

Is it possible that the current rates are already priced in? old rate was 0.75 and we had 1.5 with chase, which is double the base rate.

I'm not expecting any increase from Chase. We might however see some competitors get closer to matching them.

jimexbox

If competitors get within touching distance from chase, hopefully they'll bump up their rates by 0.1. 

Olinda99

3 members of MPC voted for 0.5% so rates could go even higher soon

Mr._H_2

Olinda99 said:

3 members of MPC voted for 0.5% so rates could go even higher soon

They are expecting to reach 2.5% at some point in 2023.

castle96

Mr._H_2 said:

Olinda99 said:

3 members of MPC voted for 0.5% so rates could go even higher soon

They are expecting to reach 2.5% at some point in 2023.

source?.......................

source?..........