The Top Easy Access Savings Discussion Area

MartusJK

soulsaver said:

tg99 said:

MartusJK said:

HI there, hope its ok if I jump on here about this but I was seriously shocked and inconvenienced today when I discovered theres a hard, non-negotiable £25K daily limit on moving funds out of the 1.5% Chase account, when MSE states Yes to Unlimited withdrawals, and their own blurb says "You can take out some or all of your money anytime with no fees. You can't spend with your card from this account, so you'll need to transfer money to another Chase or UK bank account.". So what is going on here, I put a £250K stash in there on the main assumption it was instantly withdrawable, in part or whole, now it seems that will take 10 days of withdrawal payments, are they allowed to say such seemingly contradictory/misleading wording and is MSE aware??

If needed faster could use the Chase current account to deposit into an instant access savings account that accepts payment by debit card …..although don’t think there are too many around these days.

There are at least two 'cos I have them - but using a debit card deposit won't give you instant access to those funds from an instant access account; it usually needs 3 working days to be showing as 'available'.

thats very interesting, can you please let me know which ones they are? Generally how do you go about identifying them? BUT.... is there still some sort of daily or amount limit on how much can be transferred in this way?

pedrodelgado

jaypers said:

I’ve personally stopped depositing into Chase. Too limiting and by the end of this month I suspect many savings institutions will have easy access rates above 1.5%

virgin linked saver 1.56% up to 25k

tg99

soulsaver said:

tg99 said:

MartusJK said:

HI there, hope its ok if I jump on here about this but I was seriously shocked and inconvenienced today when I discovered theres a hard, non-negotiable £25K daily limit on moving funds out of the 1.5% Chase account, when MSE states Yes to Unlimited withdrawals, and their own blurb says "You can take out some or all of your money anytime with no fees. You can't spend with your card from this account, so you'll need to transfer money to another Chase or UK bank account.". So what is going on here, I put a £250K stash in there on the main assumption it was instantly withdrawable, in part or whole, now it seems that will take 10 days of withdrawal payments, are they allowed to say such seemingly contradictory/misleading wording and is MSE aware??

If needed faster could use the Chase current account to deposit into an instant access savings account that accepts payment by debit card …..although don’t think there are too many around these days.

There are at least two 'cos I have them - but using a debit card deposit won't give you instant access to those funds from an instant access account; it usually needs 3 working days to be showing as 'available'.

Yep but still quicker than 10 days for £250k.

Bigwheels1111

tg99 said:

soulsaver said:

tg99 said:

MartusJK said:

HI there, hope its ok if I jump on here about this but I was seriously shocked and inconvenienced today when I discovered theres a hard, non-negotiable £25K daily limit on moving funds out of the 1.5% Chase account, when MSE states Yes to Unlimited withdrawals, and their own blurb says "You can take out some or all of your money anytime with no fees. You can't spend with your card from this account, so you'll need to transfer money to another Chase or UK bank account.". So what is going on here, I put a £250K stash in there on the main assumption it was instantly withdrawable, in part or whole, now it seems that will take 10 days of withdrawal payments, are they allowed to say such seemingly contradictory/misleading wording and is MSE aware??

If needed faster could use the Chase current account to deposit into an instant access savings account that accepts payment by debit card …..although don’t think there are too many around these days.

There are at least two 'cos I have them - but using a debit card deposit won't give you instant access to those funds from an instant access account; it usually needs 3 working days to be showing as 'available'.

Yep but still quicker than 10 days for £250k.

Great quote, 10 days.
Who in there right mind puts more than 85K in any one account.
So in realistic terms 4 days. Not 10.

Mr._H_2

Bigwheels1111 said:

tg99 said:

soulsaver said:

tg99 said:

MartusJK said:

HI there, hope its ok if I jump on here about this but I was seriously shocked and inconvenienced today when I discovered theres a hard, non-negotiable £25K daily limit on moving funds out of the 1.5% Chase account, when MSE states Yes to Unlimited withdrawals, and their own blurb says "You can take out some or all of your money anytime with no fees. You can't spend with your card from this account, so you'll need to transfer money to another Chase or UK bank account.". So what is going on here, I put a £250K stash in there on the main assumption it was instantly withdrawable, in part or whole, now it seems that will take 10 days of withdrawal payments, are they allowed to say such seemingly contradictory/misleading wording and is MSE aware??

If needed faster could use the Chase current account to deposit into an instant access savings account that accepts payment by debit card …..although don’t think there are too many around these days.

There are at least two 'cos I have them - but using a debit card deposit won't give you instant access to those funds from an instant access account; it usually needs 3 working days to be showing as 'available'.

Yep but still quicker than 10 days for £250k.

Who in there right mind puts more than 85K in any one account.

Someone who has a "temporarily high balance" as defined by the FSCS, and is therefore covered for up to £1 million with a single institution for up to 6 months.

tg99

Bigwheels1111 said:

tg99 said:

soulsaver said:

tg99 said:

MartusJK said:

HI there, hope its ok if I jump on here about this but I was seriously shocked and inconvenienced today when I discovered theres a hard, non-negotiable £25K daily limit on moving funds out of the 1.5% Chase account, when MSE states Yes to Unlimited withdrawals, and their own blurb says "You can take out some or all of your money anytime with no fees. You can't spend with your card from this account, so you'll need to transfer money to another Chase or UK bank account.". So what is going on here, I put a £250K stash in there on the main assumption it was instantly withdrawable, in part or whole, now it seems that will take 10 days of withdrawal payments, are they allowed to say such seemingly contradictory/misleading wording and is MSE aware??

If needed faster could use the Chase current account to deposit into an instant access savings account that accepts payment by debit card …..although don’t think there are too many around these days.

There are at least two 'cos I have them - but using a debit card deposit won't give you instant access to those funds from an instant access account; it usually needs 3 working days to be showing as 'available'.

Yep but still quicker than 10 days for £250k.

Great quote, 10 days.
Who in there right mind puts more than 85K in any one account.
So in realistic terms 4 days. Not 10.

The person who initiated the conversation. £250k divided by £25k = 10.

Thaddeus_Wagstaff

4 Yorkshire BS **Tiered** Internet Saver Plus iss 11 1.33% (1.1%<£10k 1.38%>£50k) (03/06) View our Easy Access Savings Accounts | Savings | YBS Thnx @Molehusband

Please be aware that YBS don't automatically increase rates to the latest ones on offer. You have to apply for a new "issue" when that happens. Should be straightforward (although they can insist on seeing ID at a branch, even if you're already a customer. This can be a PITA), but something to be aware of.,

Zerforax

The Bank of England's monetary policy committee has announced interest rates are rising by 0.25% from 1% to 1.25%.

Cammie50

4 Yorkshire BS **Tiered** Internet Saver Plus iss 11 1.33% (1.1%<£10k 1.38%>£50k) (03/06) View our Easy Access Savings Accounts | Savings | YBS Thnx @Molehusband

I opened this account 2 weeks ago as I had the “Issue 10”account and YBS don’t increase the interest rate to match. It was straightforward to do online but you cannot make a withdrawal for the first 14 days, so I paid in a small amount to open the account then transferred all of my savings from Issue 10 to Issue 11. Did it all online with no problem. I then closed the Issue 10 account and the interest was paid into my linked bank account. 

jimexbox

Zerforax said:

The Bank of England's monetary policy committee has announced interest rates are rising by 0.25% from 1% to 1.25%.

A 1.70% easy access account would be nice. Come on chase....