The Top Easy Access Savings Discussion Area

Patr100

Matt1510 said:

Patr100 & Mr._H_2 Thanks for your responses,
Another question about Notice Accounts, what happens if you give the required notice and then decide you no longer wish to withdraw funds when reaching the notice period, and simply leave it in the account? (obviously)

As others have mentioned , you can cancel the notice at any time.
if you let it run the full notice period, as I understand it , it reverts to the main account at the lowest rate until you decide to boost it all (or any specified amounts) again eg you might decide to change the boost from 95 to 30 days etc or leave it at instant access.

Matt1510

Patr100 said:

Matt1510 said:

Patr100 & Mr._H_2 Thanks for your responses,
Another question about Notice Accounts, what happens if you give the required notice and then decide you no longer wish to withdraw funds when reaching the notice period, and simply leave it in the account? (obviously)

As others have mentioned , you can cancel the notice at any time.
if you let it run the full notice period, as I understand it , it reverts to the main account at the lowest rate until you decide to boost it all (or any specified amounts) again eg you might decide to change the boost from 95 to 30 days etc or leave it at instant access.

Ok that makes sense thanks.

Mr._H_2

Matt1510 said:

Mr._H_2 said:

Matt1510 said:

Patr100 & Mr._H_2 Thanks for your responses,
Another question about Notice Accounts, what happens if you give the required noticed and then decide you no longer wish to withdraw funds when reaching the notice period, and simply leave it in the account? (obviously)

I think jimexbox's post, above yours, pretty much answers that question, but just for avoidance of doubt: after you give notice, you then have the option to "cancel" that notice. So if you give notice today 29th June, then in 30 days (29th July) "cancel" that notice, the earliest you could then access your money would be November 1 (for a 95 day boost), by immediately giving notice again on 29th July.

Ok, so once notice is given the bank would also arrange at their end  for the transaction to be carried out.
I was thinking of along the lines of giving the bank notice of withdrawal via automated email on say a two day basis, therefore once you reach 95 days and you decide to leave it in your account it becomes available to withdraw every second day after the notice period, lol.
Isn't feasible if you need to cancel pending transactions though.
Unless, day 1 arrange withdrawal, day 2 cancel withdrawal, day 3 arrange withdrawal, day 4 cancel withdrawal and so forth lol.
TBH I don't even know if it's possible to set up auto email.

Nah, madness personified!


Edit
Hindsight, Impossible to auto email, dates need changing daily on the emails.

Well, on the simplest of practical reasons, you couldn't do that because notice is given by pressing a button, not by email.

But also, that plan just wouldn't work. You cannot arrange a "rolling" notice whereby it will become available at any time you like after the initial 95 days. 

For example, I believe you are saying that your plan would be to:
Deposit money today (29th Jun), and immediately give notice (so money would be available on 2nd Oct)
Then cancel that notice on 30th Jun and give notice on 1st July (so money would be available on 4th Oct)
Then cancel that notice on 2nd July and give notice on 3rd July (so money would be available on 6th Oct)
etc...

such that, according to your plan, the money would be available on any of 2nd, 4th, 6th Oct etc. as you choose.

However, what you appear to be forgetting is that to get the 6th Oct withdrawal date, you have to cancel the previous notices. So the money becomes available 95 days after the very last date that you gave notice. All other earlier potential withdrawal dates would have been cancelled.

Matt1510

Mr._H_2 said:

Matt1510 said:

Mr._H_2 said:

Matt1510 said:

Patr100 & Mr._H_2 Thanks for your responses,
Another question about Notice Accounts, what happens if you give the required noticed and then decide you no longer wish to withdraw funds when reaching the notice period, and simply leave it in the account? (obviously)

I think jimexbox's post, above yours, pretty much answers that question, but just for avoidance of doubt: after you give notice, you then have the option to "cancel" that notice. So if you give notice today 29th June, then in 30 days (29th July) "cancel" that notice, the earliest you could then access your money would be November 1 (for a 95 day boost), by immediately giving notice again on 29th July.

Ok, so once notice is given the bank would also arrange at their end  for the transaction to be carried out.
I was thinking of along the lines of giving the bank notice of withdrawal via automated email on say a two day basis, therefore once you reach 95 days and you decide to leave it in your account it becomes available to withdraw every second day after the notice period, lol.
Isn't feasible if you need to cancel pending transactions though.
Unless, day 1 arrange withdrawal, day 2 cancel withdrawal, day 3 arrange withdrawal, day 4 cancel withdrawal and so forth lol.
TBH I don't even know if it's possible to set up auto email.

Nah, madness personified!


Edit
Hindsight, Impossible to auto email, dates need changing daily on the emails.

Well, on the simplest of practical reasons, you couldn't do that because notice is given by pressing a button, not by email.

But also, that plan just wouldn't work. You cannot arrange a "rolling" notice whereby it will become available at any time you like after the initial 95 days. 

For example, I believe you are saying that your plan would be to:
Deposit money today (29th Jun), and immediately give notice (so money would be available on 2nd Oct)
Then cancel that notice on 30th Jun and give notice on 1st July (so money would be available on 4th Oct)
Then cancel that notice on 2nd July and give notice on 3rd July (so money would be available on 6th Oct)
etc...

such that, according to your plan, the money would be available on any of 2nd, 4th, 6th Oct etc. as you choose.

However, what you appear to be forgetting is that to get the 6th Oct withdrawal date, you have to cancel the previous notices. So the money becomes available 95 days after the very last date that you gave notice. All other earlier potential withdrawal dates would have been cancelled.

Precisely the reason for myself deleting the post after realising canceling a transaction every other day means only the latest withdrawal request becomes available.

I hoped that no one had seen the post  haha.

Never mind, Worse things happen!

Mr._H_2

Matt1510 said:

Mr._H_2 said:

Matt1510 said:

Mr._H_2 said:

Matt1510 said:

Patr100 & Mr._H_2 Thanks for your responses,
Another question about Notice Accounts, what happens if you give the required noticed and then decide you no longer wish to withdraw funds when reaching the notice period, and simply leave it in the account? (obviously)

I think jimexbox's post, above yours, pretty much answers that question, but just for avoidance of doubt: after you give notice, you then have the option to "cancel" that notice. So if you give notice today 29th June, then in 30 days (29th July) "cancel" that notice, the earliest you could then access your money would be November 1 (for a 95 day boost), by immediately giving notice again on 29th July.

Ok, so once notice is given the bank would also arrange at their end  for the transaction to be carried out.
I was thinking of along the lines of giving the bank notice of withdrawal via automated email on say a two day basis, therefore once you reach 95 days and you decide to leave it in your account it becomes available to withdraw every second day after the notice period, lol.
Isn't feasible if you need to cancel pending transactions though.
Unless, day 1 arrange withdrawal, day 2 cancel withdrawal, day 3 arrange withdrawal, day 4 cancel withdrawal and so forth lol.
TBH I don't even know if it's possible to set up auto email.

Nah, madness personified!


Edit
Hindsight, Impossible to auto email, dates need changing daily on the emails.

Well, on the simplest of practical reasons, you couldn't do that because notice is given by pressing a button, not by email.

But also, that plan just wouldn't work. You cannot arrange a "rolling" notice whereby it will become available at any time you like after the initial 95 days. 

For example, I believe you are saying that your plan would be to:
Deposit money today (29th Jun), and immediately give notice (so money would be available on 2nd Oct)
Then cancel that notice on 30th Jun and give notice on 1st July (so money would be available on 4th Oct)
Then cancel that notice on 2nd July and give notice on 3rd July (so money would be available on 6th Oct)
etc...

such that, according to your plan, the money would be available on any of 2nd, 4th, 6th Oct etc. as you choose.

However, what you appear to be forgetting is that to get the 6th Oct withdrawal date, you have to cancel the previous notices. So the money becomes available 95 days after the very last date that you gave notice. All other earlier potential withdrawal dates would have been cancelled.

Precisely the reason for myself deleting the post after realising canceling a transaction every other day means only the latest withdrawal request becomes available.

I hoped that no one had seen the post  haha.

Never mind, Worse things happen!

Well, I think it's an easy enough trap to fall in to, so worth leaving there for anyone else who's new to this sort of thing and thinking about it.

soulsaver

I knew the Zopa Smart Saver was going to need it's own thread.
Don't know if the mods are up for extracting the foregoing  posts to a dedicated Zopa thread....?

soulsaver

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

Updated at 29/06/2022.. c.23.20 hrs - Starter for 10; not 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 Al Rayan Everyday Saver iss 2. 1.45% (29/06) App onlyish. Everyday Saver (Issue 2) | Islamic banking | Sharia compliant & ethical (alrayanbank.co.uk)  

4 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*

5= Gatehouse Easy Access 1.40% (Shariah) 28/06 £1k initial. Easy access account | Gatehouse Bank | Gatehouse Bank plc

5= Secure Trust Bank Access ac1.40% 02/07) £1k min thnx @BigBlueSky
https://www.securetrustbank.com/savings/access-accounts/access-account

5= Sainsbury Defined Access 1.4% >£1k (24/06) 3 w/ds only before rate drop to 0.80%. Defined Access Saver with Sainsbury's Bank (sainsburysbank.co.uk) 

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

5= Principality BS Double Access 1.4% (23/06) Online Double Access | Online Double Access (principality.co.uk) 

10 Skipton Triple Access Saver Iss5; 1.36% wef 27/06 (19/06) Note: £5k min balance  
Easy Access Savings - Skipton Building Society  

11= Coventry BS Easy Access 4 1.35% wef 01/07 (22/06) Easy Access (Online) (4) (coventrybuildingsociety.co.uk)   eta (06/07) NLA!

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

13 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 

See prior ToTPs for detail on recent 'drop offs...' last posts, pages 601/595/591.  

 Cynergy, RCI, Marcus/Saga, Paragon, Ford Money, Tandem, Investec. 

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

SonOfPearl

Tesco have released another issue of their internet saver with a tiny increase in the rate. It's only gone up from 1.31% to 1.33% (includes a 1.08% bonus for 1 year) but I've opened it anyway as it only takes a few seconds online and transferred most of the old balance into the new one. After all, every little helps 😉 Maybe they're trying to make the next soulsaver list? 😜

wiseonesomeofthetime

Well spotted.

I cba for rate increases that minimal though. Still have several easy access accounts paying more.

Might reconsider Tesco Bank when they become competitive again. Meanwhile .......

wiseonesomeofthetime

Zopa Smart Saver

Joined in with the hype around this provider and have opened an account and created a 95 day notice pot, activated straight away, showing funds available 3 Oct 2022. Fits in okay with my savings strategy.

Of note though, was the time it takes for my bank transfers to reach my Zopa account.

Not unmanageably long, however, a lot slower than many other providers I have accounts with.

For example, the money from my Atom to Monzo was instant.

Monzo to Zopa, however, twenty minutes.

Like I say, something I can cope with when money not needed to be moved instantly. May annoy others.