The Top Easy Access Savings Discussion Area

General_Grant

Daliah said:

Malchester said:

Just a couple of questions re Al Rayan Instant Access Account.

1. Are transfers out to a nominated account instant - can't see anything on their website about it.

2. If you open an account online is identification done electronically or do you still need to send them certified copies of documents? On line the conditions only talk about opening by post or in branch.

TIA

Withdrawals arrive in linked current account within 10-30 minutes but only during business hours on working days. You can schedule a payment for a future date, in which case it arrives just after 9am on that date, or the next working day if the scheduled date is not a working day.

I didn‘t need to send them any ID documents when I applied online for my first account with them several years ago. This doesn‘t mean they never request additional ID.

I opened one recently.  They didn't require me to send ID documents but did send a form using the Royal Snail for me to check, sign and return.

When I transferred my first payment into the account they kindly sent a text to confirm its receipt.  

Rollinghome

Malchester said:

Just a couple of questions re Al Rayan Instant Access Account.

1. Are transfers out to a nominated account instant - can't see anything on their website about it.

2. If you open an account online is identification done electronically or do you still need to send them certified copies of documents? On line the conditions only talk about opening by post or in branch.

TIA

1. No nominated account as such, at least when I used them.  You just have to set up payees and there's no limit s far as I'm aware. I had a list of about half a dozen.

2. Didn't send them any documents when I opened an account.

Ifts

RCi Freedom Savings Account has increased its rate from 0.9% to 1.10%

Received this from RCi today:

We are pleased to let you know that we have recently increased the interest rate on our Freedom Savings Account
.
As usual, RCI Bank will increase the rate we offer to our existing Freedom Savings Account customers to match the higher rate we are offering to our new customers. This means the rate on your Freedom Savings Account was automatically increased from 0.90% AER gross variable to 1.10% AER gross variable on the 12th of May 2022.

soulsaver

ToTP

OK rate pouncers... Easy Access(ish) top 10(ish) of the pots.. BoE base rate 1.0% (05/05)

As at 13/05/2022.. c.23:00 hrs - Starter for 10; not meant to be comprehensive, DYOR.
Latest changes in bold.
Links added for all accounts. Thanks for all contributions.
Bracketed dates = date rate added/amended here.

1 Chase: Saver 1.50% App only Home | Chase UK

2 Al Rayan:1.31% ( 10/05) Min £2.5k App only(ish) Everyday Saver (Issue 2) | Islamic banking | Sharia compliant & ethical (alrayanbank.co.uk) Note check if applied to existing acs? thnx @SJMALBA

3 Gatehouse Bank 1.30% (04/05) - Sharia; £1k min initial deposit.  Easy access account | Gatehouse Bank | Gatehouse Bank plc 

4 Atom: 1.25% (06/05) App only Instant Saver 1.25% Interest Rate - Easy Access Savings | Atom bank

5 Aldermore: 1.25% Double Access (29/04) or 0.85% EA . £1k to open Double Access Account, Instant Access Savings Account - Aldermore Bank

6 Cynergy: 1.20% (14/04) digipass or app for on line access. Existing customers only  Cynergy Bank 

7 Zopa: Smart Saver (app only) 1.20% £85k max (19/04) (NB 7,31,95 day notice, rate boosted options). Smarter Savings built for real life - Zopa

8 Ford Money Flexi 1.15% (13/05) Applied to existing acs.  Flexible Savings Account - Easy access savings | Ford Money Thnx @Section62

9 Tesco Internet Saver 1.11% (11/05) Note: Not applied to existing acs Internet Saver - Savings Accounts - Tesco Bank Thnx @littlemissbossy

10= Tandem: 1.10% App only A greener way to save for the future (tandem.co.uk) 

10= RCI 1.10% (13/05) Freedom Savings Account | RCI Bank Thnx @Ifts

Investec 1.06%, Marcus & Saga 1.0% usurped. See prior ToTP for detail. 

Check terms for yourself - DYOR.
Note: These rates may not be applied to existing accounts...DYOR

Other than VM 2.0% £1k limit, others  of note?

Also see Regular Savings Accounts: The Best Currently Available List! — MoneySavingExpert Forum

And Cash ISAs: The Best Currently Available List — MoneySavingExpert Forum

ETA typo correction

mlc2009

[Removed by Forum Team].

The last batch of raises probably priced in this base rate increase. Be interested to see the reaction if they raise rates in June

veryintrigued

mlc2009 said:

andyhicks88 said:

Tumbleweed. 

The last batch of raises probably priced in this base rate increase. Be interested to see the reaction if they raise rates in June

Seriously?

RG2015

mlc2009 said:

andyhicks88 said:

Tumbleweed. 

The last batch of raises probably priced in this base rate increase. Be interested to see the reaction if they raise rates in June

By your own statement, it is likely that providers will be pricing in rate increases before the BOE June decision.

Consumerist

I think it's more likely they'll be waiting to see what others do.

RG2015

Consumerist said:

I think it's more likely they'll be waiting to see what others do.

These are not mutually exclusive.

As soon as one raises its rates then others will follow.

I believe that today's news of 9% inflation will be the trigger for FIs and the BoE.

ranciduk

There will be at least four more interest rate rises this year and a surge of insolvencies as inflation takes its toll on an increasingly shaky UK economy.

That’s the latest City betting on the day inflation went to a 40% year high, jumping from 7% to 9% for the year to April.

In response Bank of America told clients to expect interest rates to double from 1%. The Bank of Englandwill now raise rates by 0.25 percentage points in June, August, September and November.