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razord said

I'm doing the same... but I've already opened the Zopa account as I'm currently awaiting review of the docs to prove I own the account I'm sending money from (and to) which seems to take up to 48 hours in usual times, so presumably could be longer at the mo... might be worth opening the account now so you start that process.

We are talking Zopa Smart Saver App account linked with a Chase Current Account? My linked current account (not Chase) was accepted immediately. There wasn`t a "confirmation of payee" when I did a £1 test transfer, but I went ahead with the transfer anyway and that was OK. I used faster payments and it took about 10 minutes. I moved more money afterwards. All done in the same day.

janusdesign

razord said:

Sg28 said:

I think Ill give Chase until the end of the week before moving to Zopa. 

Shame they've been slow to adjust.

I'm doing the same... but I've already opened the Zopa account as I'm currently awaiting review of the docs to prove I own the account I'm sending money from (and to) which seems to take up to 48 hours in usual times, so presumably could be longer at the mo... might be worth opening the account now so you start that process.

My Smart Saver is linked to my main current account (not Chase) and also the Chase Savings account - if memory serves, approval of the Chase account took about an hour after I sent them a statement PDF (though this was a month ago).

sadly, I can't really take full advantage of the SS account, as i'm overmaxed with Zopa re FSCS, so I primarily use it for multiple 95-day pots that I transfer monthly interest to from lower interest paying accounts, e.g if I left the Chase monthly interest, i'd get 1.5% on it, moving it to Zopa means getting 2.05% - plus hopefully making things simpler when I come to calculate the interest amount for the tax return next year.

just curious, does anyone know if any of the other high interest paying savings accounts support deposits from accounts other than the default nominated one ?

soulsaver

Olinda99 said:

Coventry 1.55 from 1st Sept

Hi Olinda - I can't see that on their web: EA Saver (7) is going to 1.1%.. The EA 1.25% going to 1.55% that I can see... is an ISA?

Easy Access | Savings (coventrybuildingsociety.co.uk)

SonOfPearl

soulsaver said:

Olinda99 said:

Coventry 1.55 from 1st Sept

Hi Olinda - I can't see that on their web: EA Saver (7) is going to 1.1%.. The EA 1.25% going to 1.55% that I can see... is an ISA?

Easy Access | Savings (coventrybuildingsociety.co.uk)

The full rate changes notification is here: https://www.coventrybuildingsociety.co.uk/content/dam/cbs/member/pdfs/savings/rate-change-notice.pdf

Rollinghome

To be fair to Chase, it's offering more than just a basic savings account.

It's a major bank, so arguably less likely to fail than the smaller banks, offering a limited service current account that's linked to a savings account with some of the facilities of a current account. Virgin is perhaps the closest competitor. Virgin pays more on a limited balance but the 1% cashback from Chase pushes up the return, particularly for a smallish balance. Both Virgin and Chase pay way more than the full service clearing banks.

They got our attention nicely, and I think most of us guessed what their strategy might be with interest rates. I doubt it was ever to compete with such as Shawbrook and Gatehouse.

In the meantime it's still of use to me so I'll keep accounts for myself and Mrs R, but move out money to better paying accounts as they come along and watch how it pans out

soulsaver

soulsaver said:

Olinda99 said:

Coventry 1.55 from 1st Sept

Hi Olinda - I can't see that on their web: EA Saver (7) is going to 1.1%.. The EA 1.25% going to 1.55% that I can see... is an ISA?

Easy Access | Savings (coventrybuildingsociety.co.uk)

It apparently refers to an online ea issue 4 - not available to new applications - the current being iss 7.

Olinda99

soulsaver said:

Olinda99 said:

Coventry 1.55 from 1st Sept

Hi Olinda - I can't see that on their web: EA Saver (7) is going to 1.1%.. The EA 1.25% going to 1.55% that I can see... is an ISA?

Easy Access | Savings (coventrybuildingsociety.co.uk)

Hi - abject apologies - yes you are right - it is the ISA that is going to 1.55%, not the non-ISA

Strange, it is usually the non-ISA that has a higher rate.

soulsaver

Olinda99 said:

soulsaver said:

Olinda99 said:

Coventry 1.55 from 1st Sept

Hi Olinda - I can't see that on their web: EA Saver (7) is going to 1.1%.. The EA 1.25% going to 1.55% that I can see... is an ISA?

Easy Access | Savings (coventrybuildingsociety.co.uk)

Hi - abject apologies - yes you are right - it is the ISA that is going to 1.55%, not the non-ISA

Strange, it is usually the non-ISA that has a higher rate.

You weren't that far away - see above - there is an EA account going 1.55% but NLA.

PS as it happens - I do have iss4 amongst my collection...

S_uk

I had one other questions re Zopa. If i opened an account on say the 10th, I know that the interest is expected on the 10th of every month. But if say next week (say on the 17th) I boosted the access pot to a 31 day notice pot, would the interest still be paid on the 10th every month or on the 17th? Thanks

jimexbox

S_uk said:

I had one other questions re Zopa. If i opened an account on say the 10th, I know that the interest is expected on the 10th of every month. But if say next week (say on the 17th) I boosted the access pot to a 31 day notice pot, would the interest still be paid on the 10th every month or on the 17th? Thanks

I opened another pot 10 days after the opening pot. All interest was paid on the same day.