The Top Easy Access Savings Discussion Area

Bridlington1

bertsilver said:

Is it worth moving 12k from Chase to Zopa, or do people think Chase will up their rate?

You might as well move it to get as much interest as you can. If chase do increase their rates you can always move it back and if anything it may encourage them to up their rate to prevent the exodus of customers. There's little point rewarding them with your custom if they aren't going to keep up with interest rate rises.

polymaff

kaMelo said:

polymaff said:

Olinda99 said:

Nationwide (for example) give you interest from the switch application date no matter how long it takes the ISA to switch to them

Nationwide took over a year to pull the cash out of my old ISA provider.  They've promised the backdating - but we'll see.  Over a year!  For a Loyalty ISA !!!

So you will, in effect, get double interest on the money?

No, as the money had to stay in the nominated maturity ISA by then paying something like zero percent.

Nationwide still don't accept what they did wrong. I made ISA applications for my wife and myself mid-April 21,  Each for £1, with instructions to fill them up from the just-about-to-mature ISAs at the Halifax.  What they actually did was to open two £1 ISAs in my wife's name.  Maybe illegal?  Then, correctly hauled the cash from my wife's expiring ISA to one of these ISAs.  Then stopped.

Knowing Nationwide's renowned incompetence, I screen-shot every screen during the original application.  I've sent them these  screen shots quite a few times, but the penny never drops.  Then, they lose the shots and we start all over again.

All of this has left a £1 ISA in my wife's name with backdating to the original application date and a  £16k ISA in my wife's name backdated to the date they eventually received the content of her matured ISA.  Wrong.  As for me, the ISA they've belatedly set up and loaded from my old ISA shows the  account began with the day that money eventually arrived - May 22.  I have their verbal confirmation that the "right" interest will be paid at maturity.

You couldn't make it up!

Oasis1

bertsilver said:

Is it worth moving 12k from Chase to Zopa, or do people think Chase will up their rate?

Yes, I think well worth it.

ericlered7

GreenCustomer said:

Sg28 said:

Anyone have experience moving 10k+ sums to zopa. Did 2 transfers this morning and neither are showing up. My test transfer yesterday was there in about 10 minutes.

Hi Sg28, Did you get this resolved in the end? I am having similar problem. £1 transaction appeared  from First Direct to Zopa within 40 mins but 2 subsequent  larger transactions not arrived 3 hours later.

I had the same problem with HSBC. Smaller payments went through fine, larger one got held up by fraud squad, went though an awful phone call while they asked me at least 15 to 20 times if anyone had contacted mt to make the payments, and if i had been trained in what to say to them!

jwelly

Atom have finally responded to rate rises.

However, a little disappointing in my view:

1.49% Gross | 1.50% AER

GreenCustomer

@ericlered7
I didn't get a phone call from First Direct Fraud in the end. But both larger payments were credited back to my FD account at about 9pm. Tried the payments this morning using the TruLayer direct payment system in Zopa app and the payments went through in 20mins.

soulsaver

Bridlington1 said:

According to moneyfacts, RCI bank are going to be increasing the interest rate on their "freedom savings account" to 1.67%:
Minimum deposit: £100
Maximum deposit: £250k
Withdrawals: unlimited

The account can be managed online or on the app.

On their Webby now: Savings Accounts | RCI Bank
Edited into ToTP. 

Sg28

bertsilver said:

Is it worth moving 12k from Chase to Zopa, or do people think Chase will up their rate?

According their customer services, there are no plans currently to increase rates. Doesnt mean it wont happen but no point hanging around to see. Ive moved to Zopa 31 day notice account at 1.95. As soon as something better comes ill give notice. 

soulsaver

Chase: I'm shovelling money out at my daily £35k max - impressed with the speed of the w/d: made the transaction, launched my linked bank app... and there it was ... Literally seconds.

And same yesterday.

Tailender_Investor

I’m sure this has probably been covered in previous pages but I think it’s easier for me to just ask rather than search for hours. 

Do zopa perform any credit checks when opening a savings account?

Do zopa pay the interest monthly?