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The Top Easy Access Savings Discussion Area

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  • Bigwheels1111
    Bigwheels1111 Posts: 3,048 Forumite
    1,000 Posts Third Anniversary Name Dropper
    Yellowman said:
    Today I registered for the Al Rayan Everyday Saver Account (Issue 3) but there are technical problems affecting many similar applications (confirmed by telephone), so there may be a delay in getting the account up and running.
    I tried to open my account with them on the 1/8/22, Got to step 4 and stopped working.
    Called on the second and account was up and running in less than 10 minutes.
    So far their customer service has been great.
    Only made payments in so far, at around 06.30am and credited within 10 mins.

  • adindas
    adindas Posts: 6,856 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Post Office does not allowed payment by Direct Debit any more. Payment by debit card is hit and miss and it pays inferior interest rate. So I do not  see any point to keep it ?
    What is your opinion ? Have I missed something, is there any point to keep this account ?
    If you have a few of them what is the less time consuming way to close it ??
    TIA


  • Molehusband
    Molehusband Posts: 265 Forumite
    100 Posts Second Anniversary Name Dropper Photogenic
    edited 4 August 2022 at 6:45PM
    adindas said:
    Post Office does not allowed payment by Direct Debit any more. Payment by debit card is hit and miss and it pays inferior interest rate. So I do not  see any point to keep it ?
    What is your opinion ? Have I missed something, is there any point to keep this account ?
    If you have a few of them what is the less time consuming way to close it ??
    TIA

    In the past I had a number of different savings accounts with Post Office and they paid a decent rate of interest. Then suddenly (I can't remember the date) their products deteriorated and I decided to move most of my money elsewhere. However, I've kept one account open with a minimal amount of money. OK, the interest is poor (0.45% I think), but better than nothing and I get a quid or so of interest per year. For me the big potential advantage of keeping the account open is that, maybe in future a miracle will happen and they offer a new well paying account. I won't then have to go through the hassle of opening a totally new account with all the identification bureaucracy which sometimes can take weeks. In addition, if the new account is only available to existing customers I can be at the front of the queue.
    Of course the decision to close is entirely up to you, but I'm happy to keep mine open just in case ...
    Reginald Molehusband






  • castle96
    castle96 Posts: 2,993 Forumite
    Part of the Furniture 1,000 Posts
    always keep an account open. Just in case

  • adindas said:
    Post Office does not allowed payment by Direct Debit any more. Payment by debit card is hit and miss and it pays inferior interest rate. So I do not  see any point to keep it ?
    What is your opinion ? Have I missed something, is there any point to keep this account ?
    If you have a few of them what is the less time consuming way to close it ??
    TIA


    I was able to close mine online. It's a while ago now but I think when you do a withdrawal there's an option to withdraw the full amount and close the account.

    As Molehusband says, it may be worthwhile keeping one open....

  • adindas
    adindas Posts: 6,856 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    castle96 said:
    always keep an account open. Just in case


    I have 10+ I think I will close close them and keep one of them to maintain access and personal detail in their internet banking.
    I remember Bank of Ireland which control the post office account are very complicated and unpredictable when come to security in opening a new product.
  • SpanishBlue
    SpanishBlue Posts: 643 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    10_66 said:

    Thanks, opened, although I suspect a new account with a higher rate from them will be along before the end of the month.
    It's a bi monthly dance with Cynergy.
  • RG2015
    RG2015 Posts: 6,064 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
    Will anyone increase their savings rates by 0.50%?
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