The Top Easy Access Savings Discussion Area

soulsaver

Expotter said:

Does anyone know if Zopa request to upload a photo ID (like Chase do) to open their saver account?

Not if they can ID you electronically. Not sure of their process if they can't.

janusd

it looks like Sainsburys Bank are offering a Defined Access Saver account offering 1.4% for £1k upto £500k - three withdrawals per year, with interest dropping to 0.8% if you withdraw 4 or more times.

Patr100

phillw said:

Patr100 said:
I need evidence that interest over the 85k is also protected.

It won't be, if they have already paid the interest then it's just included in your balance. If they haven't paid the interest and go bust, then you won't get it.

Either withdraw the money to get below 85k every time interest is added or accept it as a risk, that you might lose it if they go under.

That's why I asked for evidence. I don't know where some people are getting this notion that the interest above 85k is covered.
For Zopa you get the boosted rate right up to when you wait for  access (if requested) so as long as I keep an eye on it I can extract what I need to keep under the 85k limit and only lose a day or so interest if I then boost again or move way.
I'm having to spread a substantial amount between 3 savings accounts to keep under the 85k threshold per institution but I realise that's a "problem" most would like to have.

Mr._H_2

Patr100 said:

phillw said:

Patr100 said:
I need evidence that interest over the 85k is also protected.

It won't be, if they have already paid the interest then it's just included in your balance. If they haven't paid the interest and go bust, then you won't get it.

Either withdraw the money to get below 85k every time interest is added or accept it as a risk, that you might lose it if they go under.

That's why I asked for evidence. I don't know where some people are getting this notion that the interest above 85k is covered.

It's not entirely clear. According to this gov.uk site: https://www.gov.uk/hmrc-internal-manuals/savings-and-investment-manual/saim2085 :

"If … the bank deposit paid interest then it is common for the FSCS to include in the compensation payment interest on the financial product up until the date that the bank was declared to be in default or if appropriate, up to the date of maturity of a fixed term deposit."

However, I think that in any case, a single payout would never be more than £85k, with the exception of a valid "temporary large balance". So, to be covered for interest you'd need less than £85k in the account, such that the interest due would bring the total up to £85k.

soulsaver

Has MSE got an issue with the ToTP?
While editing it, the ToTp post disappeared on page 594. 

I started to rebuild it here, and when 'saved' it disappeared again!
Technical glitch? Am I breaking a rule? Got too many links or something unknown? Conspiracy? 
I can't see anyway to contact the mods to reinstate the latest post that was on page 594?
I've tried the report button...

soulsaver

Try again:
ToTP ETA Principality BS

OK rate topsters... Easy(ish) Access top 10(ish) of the pots.. BoE base rate +0.25 =1.25% (16/06)

Updated at 23/06/2022.. c.10.40 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 Virgin Money 1.56% (03/06)Linked to M plus c.a. £25k max EASY ACCESS SAVINGS | Virgin Money UK

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

3 Zopa Smart Saver(app only) - improved rates(22/06) Access 1.4% Boosted 7day notice 1.45%.  31day 1.60%; 95day 1.8%  Smarter Savings built for real life - Zopa*
Thnx @Malchester


4 =Sainsbury Defined Access 1.4% >£1k 3 w/ds only before rate drop to 0.80%. Defined Access Saver with Sainsbury's Bank (sainsburysbank.co.uk) Thnx @janusdesign

4= Aldermore Double Access 1.4% (17/06); EA 1.35% new & existing acs;  Personal Savings Accounts - Aldermore Bank 

4= Principality BS Double Access 1.4% (23/06) Online Double Access | Online Double Access (principality.co.uk) Thnx @janusdesign

(7 Skipton Triple Access Saver 1.36% wef 27/06 (eta 19/06) no details yet 1.11% Iss5 on SBS web, but they usually apply rate increases to existing issues? Note: £5k min balance atm) Skipton Building Society | Facebook  Thnx @GalacticaActual
Easy Access Savings - Skipton Building Society  

8= Coventry BS Easy Access 4 1.35% wef 01/07 (22/06) Easy Access (Online) (4) (coventrybuildingsociety.co.uk) Thnx @SJMALBA

8= Atom (App only) Instant Saver 1.35% (17/06): https://www.atombank.co.uk/instant-saver thnx @Kazza242

10 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 

11= Cynergy: 1.32% (27/05) digipass or app for on line access. l (25/05) Cynergy Bank 

11= RCI Freeddom Savings 1.32% (17/06) Savings Accounts | RCI Bank thnx @infoadict (ETA Note their 1.35% 14 day notice ac)


See prior ToTPs for detail on recent 'drop offs...' last page 591:  

Al Rayan, Marcus/Saga, Paragon, Ford Money, Gatehouse, Tandem, Investec,  Principality BS. 

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

VM 2.0% £1k limit, Nationwide FlexDirect 5% on £1.5k (1st year only) 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

RG2015

soulsaver said:

Has MSE got an issue with the ToTP?
While editing it, the ToTp post disappeared on page 594. 

I started to rebuild it here, and when 'saved' it disappeared again!
Technical glitch? Am I breaking a rule? Got too many links or something unknown? Conspiracy? 
I can't see anyway to contact the mods to reinstate the latest post that was on page 594?
I've tried the report button...

I assume that you save it elsewhere like Word and just copy and paste it here.

AlwaysLearnin

soulsaver said:

Has MSE got an issue with the ToTP?
While editing it, the ToTp post disappeared on page 594. 

I started to rebuild it here, and when 'saved' it disappeared again!
Technical glitch? Am I breaking a rule? Got too many links or something unknown? Conspiracy? 
I can't see anyway to contact the mods to reinstate the latest post that was on page 594?
I've tried the report button...

I think the gremlins are at work today. For example, I've just had a notification to say I've been 'promoted' to a "Forumite".  I thought that was the standard allocation when they moved to this need version of the forum though...

Patr100

Mr._H_2 said:

Patr100 said:

phillw said:

Patr100 said:
I need evidence that interest over the 85k is also protected.

It won't be, if they have already paid the interest then it's just included in your balance. If they haven't paid the interest and go bust, then you won't get it.

Either withdraw the money to get below 85k every time interest is added or accept it as a risk, that you might lose it if they go under.

That's why I asked for evidence. I don't know where some people are getting this notion that the interest above 85k is covered.

It's not entirely clear. According to this gov.uk site: https://www.gov.uk/hmrc-internal-manuals/savings-and-investment-manual/saim2085 :

"If … the bank deposit paid interest then it is common for the FSCS to include in the compensation payment interest on the financial product up until the date that the bank was declared to be in default or if appropriate, up to the date of maturity of a fixed term deposit."

However, I think that in any case, a single payout would never be more than £85k, with the exception of a valid "temporary large balance". So, to be covered for interest you'd need less than £85k in the account, such that the interest due would bring the total up to £85k.

Yes I saw that before I last replied and almost posted the link. As you also found
it's still not clear if interest that pushes the amount over and above the 85k would be covered
though I also suspect it wouldn't. Certainly strictly speaking, it wouldn't, and I dont 
want to be in a position to test it.

RG2015

AlwaysLearnin said:

soulsaver said:

Has MSE got an issue with the ToTP?
While editing it, the ToTp post disappeared on page 594. 

I started to rebuild it here, and when 'saved' it disappeared again!
Technical glitch? Am I breaking a rule? Got too many links or something unknown? Conspiracy? 
I can't see anyway to contact the mods to reinstate the latest post that was on page 594?
I've tried the report button...

I think the gremlins are at work today. For example, I've just had a notification to say I've been 'promoted' to a "Forumite".  I thought that was the standard allocation when they moved to this need version of the forum though...

The post on the link below may explain this.


https://forums.moneysavingexpert.com/discussion/6367014/notifications-from-mse#latest