The Top Easy Access Savings Discussion Area

refluxer

Bridlington1 said:

I believe I've already sent you the link in my reply to your message this morning. Just in case it didn't arrive for whatever reason please find the link below:

https://moneyfacts.co.uk/savings-accounts/easy-access-savings-accounts/?quick-links-first=false&id=null&business-type=16&activity-type=null&investment-amount=5000&investment-type=1&account-types=2048&interest-paid-frequencies=null&terms=null&account-opening-methods=null&account-management-methods=null&notice-periods=null&include-notice-period=true&include-term=true&age=21&has-withdrawal-restrictions=2&existing-customers-only=2&joint-account-only=2

As you will see it is the Family Savings Account at 1.5% (about 7th from the top). I have telephoned my local branch and they have confirmed that they are offering this account. They said it was mainly designed for grandparents saving for grandchildren, however anyone over the age of 18 can open it and use it for their own personal savings. Please feel free to verify this yourself be telephoning YBS using one of the numbers on their website. It will probably be quickest to find the number for your local branch and use that.

That's an unusual tiered interest system - seems like the account is geared towards people who have less than £10k to save. Anyone wanting to save larger sums with the Yorkshire would need to get the calculator out and work out if they'd be better off with an Internet Saver Plus account - there are no withdrawal restrictions in that one, too.

Aidanmc

soulsaver said:

Aidanmc said:

Anyone managed to successfully open an Al Rayan Issue 3 saver?

I tried, as an existing issue 2 holder, and at the end of application process just received a message that they will be in touch.

edit. just had email, account now open.All good

Your next mission, should you choose... is to transfer funds from Issue 2 to issue 3. (I have done it).
Flaky, non intuitive app... nearly as bad as the hold 'music'... and NB: I'm a long standing AR fan.
I'm introducing an award for poorly designed apps...  called The (Cr)app Award..lol

Done that. I actually use the desktop and hard token option, find it quite easy.

I don't use apps

soulsaver

Bridlington1 said:

soulsaver said:

Bridlington1 said:

I've discovered Yorkshire Building Society has just launched a new savings account called the Family Savings Account. It's showing up on the moneyfacts website but it's not showing up on their website yet but I have just spoken to someone from my local branch who has confirmed it is available to anyone over the age of 18.

A brief summary:
-Can be opened in branch or by post only
-Can be managed online, by post or in branch
-Allows 3 withdrawal days/year including account closure
-Instant access
-Interest paid monthly and is variable
-You do not need to be an existing YBS member to open this account

Providing the account balance is £1 or more interest paid is tiered:
-The first £9999.99 pays 1.5%
-The portion between £10k and £19999.99 pays 1.4%
-The portion between £20k and £29999.99 pays 1.3%
-The portion above £30k pays 1%

Have you got a link? Or are you gonna Tell Me Its Just A Rumour Baby- Isley Brothers - Bing video

I believe I've already sent you the link in my reply to your message this morning. Just in case it didn't arrive for whatever reason please find the link below:

https://moneyfacts.co.uk/savings-accounts/easy-access-savings-accounts/?quick-links-first=false&id=null&business-type=16&activity-type=null&investment-amount=5000&investment-type=1&account-types=2048&interest-paid-frequencies=null&terms=null&account-opening-methods=null&account-management-methods=null&notice-periods=null&include-notice-period=true&include-term=true&age=21&has-withdrawal-restrictions=2&existing-customers-only=2&joint-account-only=2

As you will see it is the Family Savings Account at 1.5% (about 7th from the top). I have telephoned my local branch and they have confirmed that they are offering this account. They said it was mainly designed for grandparents saving for grandchildren, however anyone over the age of 18 can open it and use it for their own personal savings. Please feel free to verify this yourself be telephoning YBS using one of the numbers on their website. It will probably be quickest to find the number for your local branch and use that.

Sorry, I didn't receive any notification. I changed my post before seeing this reply, thinking it originally seemed bit frivolous - it wasn't intended that way. Just a bit of great music IMHO. 
Thanks for the info. 

soulsaver

Ps
ToTP: I've included the YBS FSA as a an addendum to the Internet Saver Plus Iss11... as it's 0.25% better for deposits below £10k. After that ISP11 wins on all other tiers, without w/d restrictions or postal/branch opening.

Zerforax

k_man said:

Why not both (or all 4).
Chase for current cashback offer, Zopa for better rates (currently), Zopa also have the boosted pots.

For instant access, you can the follow the rates.

Well if we'll only have like £20k saved, seemed a lot of admin to split across multiple accounts!

Yes we would keep the Chase current accounts open as the perks are great but just whether we keep a substantial amount in their saver account or not.

Daliah said:

Zerforax said:

We currently have our house deposit saved between Chase, Zopa, Cynergy and Marcus. We'll be withdrawing all except maybe 20k for our rainy day fund. Any suggestions on which might be the preferred bank to stay with?

At the moment I'm thinking either Chase or Zopa. Chase because we're using their 1% cashback spending cards and so ease of convenience. Zopa because they seem to have better service and also increase their rates regularly and without having to select a new issue.

Not entirely sure what you are planning to do but be aware that Chase do not do CHAPS, and your daily withdrawal limit is £25k. 

Also, there‘s the FSCS limit of £85k, which you are probably aware of, but I mention it just in case

We're buying a house so need to withdraw. Yes planning to do a 25k a day transfer (so 4 days) and Marcus is also only 20k a day withdrawal. Once all funds in main account, we'll do a CHAPS payment to the solicitors from Santander.

Will be 2-3 days where we are over the 85k (x2 as joint account) FCSC limit but I don't think any easy way to avoid for a short period without trying to do CHAPS from multiple accounts.

CheekyMikey said:

I have only used Chase as a savings account so far, but I moved some money into the current account before I went on holiday to Croatia recently and used the Chase card to pay for everything and withdraw cash. No transaction fees and a really very good conversion rate, plus a few quid cash back. Even as I undoubtedly move my savings out of Chase soon, I’m keeping the account just to have this foreign transaction benefit as I’ve a few more trips lined up.

Oh very nice. I forgot about that but will mention to family who are going to Italy next week.

wiseonesomeofthetime

@Zerforax

I would spread between at least two accounts of similar status just in case one of the banks systems are down when you need access to some. 

At least that is how my savings are set up. 

k_man

Zerforax said:

k_man said:

Why not both (or all 4).
Chase for current cashback offer, Zopa for better rates (currently), Zopa also have the boosted pots.

For instant access, you can the follow the rates.

Well if we'll only have like £20k saved, seemed a lot of admin to split across multiple accounts!

Yes we would keep the Chase current accounts open as the perks are great but just whether we keep a substantial amount in their saver account or not.

Daliah said:

Zerforax said:

We currently have our house deposit saved between Chase, Zopa, Cynergy and Marcus. We'll be withdrawing all except maybe 20k for our rainy day fund. Any suggestions on which might be the preferred bank to stay with?

At the moment I'm thinking either Chase or Zopa. Chase because we're using their 1% cashback spending cards and so ease of convenience. Zopa because they seem to have better service and also increase their rates regularly and without having to select a new issue.

Not entirely sure what you are planning to do but be aware that Chase do not do CHAPS, and your daily withdrawal limit is £25k. 

Also, there‘s the FSCS limit of £85k, which you are probably aware of, but I mention it just in case

We're buying a house so need to withdraw. Yes planning to do a 25k a day transfer (so 4 days) and Marcus is also only 20k a day withdrawal. Once all funds in main account, we'll do a CHAPS payment to the solicitors from Santander.

Will be 2-3 days where we are over the 85k (x2 as joint account) FCSC limit but I don't think any easy way to avoid for a short period without trying to do CHAPS from multiple accounts.

CheekyMikey said:

I have only used Chase as a savings account so far, but I moved some money into the current account before I went on holiday to Croatia recently and used the Chase card to pay for everything and withdraw cash. No transaction fees and a really very good conversion rate, plus a few quid cash back. Even as I undoubtedly move my savings out of Chase soon, I’m keeping the account just to have this foreign transaction benefit as I’ve a few more trips lined up.

Oh very nice. I forgot about that but will mention to family who are going to Italy next week.

It's not a lot of admin to keep savings in 2 banks!

Regarding getting the money our via faster payments, I strongly advise you do this a couple of weeks before you need the money.
Large faster payments often trigger fraud/money laundering checks, which can delay the payment for quite a while 

soulsaver

Family BS 1.5% Exclusive Easy Access Savings Account | Family Building Society

Confusingly this mentions a 'cut off' for deposits (16 Aug IIRC), and can't put back any previous w/ds after that date?

What's that about if it's easy access? 

Bridlington1

soulsaver said:

Bridlington1 said:

soulsaver said:

Bridlington1 said:

I've discovered Yorkshire Building Society has just launched a new savings account called the Family Savings Account. It's showing up on the moneyfacts website but it's not showing up on their website yet but I have just spoken to someone from my local branch who has confirmed it is available to anyone over the age of 18.

A brief summary:
-Can be opened in branch or by post only
-Can be managed online, by post or in branch
-Allows 3 withdrawal days/year including account closure
-Instant access
-Interest paid monthly and is variable
-You do not need to be an existing YBS member to open this account

Providing the account balance is £1 or more interest paid is tiered:
-The first £9999.99 pays 1.5%
-The portion between £10k and £19999.99 pays 1.4%
-The portion between £20k and £29999.99 pays 1.3%
-The portion above £30k pays 1%

Have you got a link? Or are you gonna Tell Me Its Just A Rumour Baby- Isley Brothers - Bing video

I believe I've already sent you the link in my reply to your message this morning. Just in case it didn't arrive for whatever reason please find the link below:

https://moneyfacts.co.uk/savings-accounts/easy-access-savings-accounts/?quick-links-first=false&id=null&business-type=16&activity-type=null&investment-amount=5000&investment-type=1&account-types=2048&interest-paid-frequencies=null&terms=null&account-opening-methods=null&account-management-methods=null&notice-periods=null&include-notice-period=true&include-term=true&age=21&has-withdrawal-restrictions=2&existing-customers-only=2&joint-account-only=2

As you will see it is the Family Savings Account at 1.5% (about 7th from the top). I have telephoned my local branch and they have confirmed that they are offering this account. They said it was mainly designed for grandparents saving for grandchildren, however anyone over the age of 18 can open it and use it for their own personal savings. Please feel free to verify this yourself be telephoning YBS using one of the numbers on their website. It will probably be quickest to find the number for your local branch and use that.

Sorry, I didn't receive any notification. I changed my post before seeing this reply, thinking it originally seemed bit frivolous - it wasn't intended that way. Just a bit of great music IMHO. 
Thanks for the info. 

No worries, I'll blame whoever failed to update the YBS website in time for the launch of the Family Savings Account and a breakdown in communications.

uptdale

Zerforax said:

k_man said:

Why not both (or all 4).
Chase for current cashback offer, Zopa for better rates (currently), Zopa also have the boosted pots.

For instant access, you can the follow the rates.

Well if we'll only have like £20k saved, seemed a lot of admin to split across multiple accounts!

Yes we would keep the Chase current accounts open as the perks are great but just whether we keep a substantial amount in their saver account or not.

Daliah said:

Zerforax said:

We currently have our house deposit saved between Chase, Zopa, Cynergy and Marcus. We'll be withdrawing all except maybe 20k for our rainy day fund. Any suggestions on which might be the preferred bank to stay with?

At the moment I'm thinking either Chase or Zopa. Chase because we're using their 1% cashback spending cards and so ease of convenience. Zopa because they seem to have better service and also increase their rates regularly and without having to select a new issue.

Not entirely sure what you are planning to do but be aware that Chase do not do CHAPS, and your daily withdrawal limit is £25k. 

Also, there‘s the FSCS limit of £85k, which you are probably aware of, but I mention it just in case

We're buying a house so need to withdraw. Yes planning to do a 25k a day transfer (so 4 days) and Marcus is also only 20k a day withdrawal. Once all funds in main account, we'll do a CHAPS payment to the solicitors from Santander.

Will be 2-3 days where we are over the 85k (x2 as joint account) FCSC limit but I don't think any easy way to avoid for a short period without trying to do CHAPS from multiple accounts.

CheekyMikey said:

I have only used Chase as a savings account so far, but I moved some money into the current account before I went on holiday to Croatia recently and used the Chase card to pay for everything and withdraw cash. No transaction fees and a really very good conversion rate, plus a few quid cash back. Even as I undoubtedly move my savings out of Chase soon, I’m keeping the account just to have this foreign transaction benefit as I’ve a few more trips lined up.

Oh very nice. I forgot about that but will mention to family who are going to Italy next week.

When you go over £85k it looks like you will be protected by the temporary high balances rule if you are buying your main residence.

https://www.fscs.org.uk/making-a-claim/claims-process/temporary-high-balances/