The Top Easy Access Savings Discussion Area

Molehusband

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 ...

castle96

always keep an account open. Just in case

changearound1

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....

10_66

Cynergy increased to 1.60%

https://www.cynergybank.co.uk/personal-savings/online-easy-access-account/online-easy-access-account-issue-53/

adindas

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.

SeriousHoax

10_66 said:

Cynergy increased to 1.60%

https://www.cynergybank.co.uk/personal-savings/online-easy-access-account/online-easy-access-account-issue-53/

Thanks Just done the Fast-Track.😛

SpanishBlue

10_66 said:

Cynergy increased to 1.60%

https://www.cynergybank.co.uk/personal-savings/online-easy-access-account/online-easy-access-account-issue-53/

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

Will anyone increase their savings rates by 0.50%?

subjecttocontract

Yes.....those that track the BoE base rate will raise by 0.5%.

RG2015

subjecttocontract said:

Yes.....those that track the BoE base rate will raise by 0.5%.

Any examples?