The Top Easy Access Savings Discussion Area

Molehusband

isasmurf said:

Molehusband said:

Nick_C said:

Molehusband said:

Nick_C said:

Plenty of providers allow you to keep savings accounts open with a zero balance.  TSB, Lloyds, Nationwide, Tesco, Chip, Virgin Money ....

I repeat why is it necessary to keep lots of defunct accounts open when all you need is one single easy access account with the very same provider (in this case Cynergy) to hold your money?

Various reasons, depending on the provider.

Lloyds allow you to reuse a dormant account (sort code and account number) for a new product, which is convenient.

TSB don't have an online function to close an account - they used to ask you to write to them, it might now be possible to send a secure message.  It's easier to just leave the account open.

An account with no money in it keeps your continuous membership with Nationwide, which occasionally gives access to better interest rates for long standing members.

A dormant account with no money in it means you are an existing customer with access to online banking, allowing you to immediately open new accounts if good ones become available.

I have said numerous times in this thread that I feel it can be useful to keep a single account open with minimal balance with any provider and I do the same thing. Key here being single account, but I was querying why someone apparently kept a truckload of defunct accounts open with the same provider.

The poster didn't say they had a truckload of defunct accounts open with a single bank.  They were referring to their experience over their whole time as a customer that they have received notifications of interest rate changes for accounts they had open at the time of that change

You're mistaken. The discussion started because in the last day or two after several of us posted the fact that we are Cynergy customers. We were all astonished that, for the very first time ever, Cynergy had sent us an email about an interest rate change on one of our accounts. Then out of a crack this individual appeared saying that had over time they "had loads of Cynergy interest movement email notifications". We queried why none of us ever experienced this. This individual responded saying that, since they had a large number of open Cynergy accounts, they were regularly sent interest rate related emails by Cynergy.

I confirm again the discussion was purely about Cynergy and no other provider. If you still have doubts about what I've said, feel free to go back and search for the words
"loads of Cynergy interest movement email notifications" earlier in this thread.

Bobblehat

Molehusband said:

You're mistaken. The discussion started because in the last day or two after several of us posted the fact that we are Cynergy customers. We were all astonished that, for the very first time ever, Cynergy had sent us an email about an interest rate change on one of our accounts. Then out of a crack this individual appeared saying that had over time they "had loads of Cynergy interest movement email notifications". We queried why none of us ever experienced this. This individual responded saying that, since they had a large number of open Cynergy accounts, they were regularly sent interest rate related emails by Cynergy.

I confirm again the discussion was purely about Cynergy and no other provider. If you still have doubts about what I've said, feel free to go back and search for the words
"loads of Cynergy interest movement email notifications" earlier in this thread.

Seems like a fair summary of the situation .... to which we have still not had a definitive answer, only veiled hints, as to the nature of these "loads of Cynergy interest movement email notifications" ....and we probably never will get a detailed answer to this!

Nick_C

Molehusband said:

I confirm again the discussion was purely about Cynergy and no other provider. 

But you went off at a tangent

Molehusband said:

How do you keep a savings account open with zero balance? The savings providers I use always demand a minimum balance be kept. 

And then you quoted a post from me which was not quoting your comments on Cynergy, but which was answering your general point about other providers.

Not that any of this is of any benefit to anyone anyway.

SJMALBA

UncleK said:

SJMALBA said:

Charter Savings Bank EA Issue 27 - 1.75% (5k min.)

https://chartersavingsbank.co.uk/Products/EasyAccess

Good luck with that. Very painful experience trying to open an account with them earlier in the year.

I've opened and operated a number of accounts with Charter, without encountering any problems (touch wood!).

soulsaver

SJMALBA said:

UncleK said:

SJMALBA said:

Charter Savings Bank EA Issue 27 - 1.75% (5k min.)

https://chartersavingsbank.co.uk/Products/EasyAccess

Good luck with that. Very painful experience trying to open an account with them earlier in the year.

I've opened and operated a number of accounts with Charter, without encountering any problems (touch wood!).

Added into ToTP top Easy Access acs list page 671 this thread. Ta Muchly

OceanSound

ScarletBea said:

BigBlueSky said:

Does Yorkshire Building Society offer almost near instant bank transfers (in and out) of their account ? - Or do they rely on third parties to do their transfers which delays things ?

Thanks in advance

Any transfer out of the account reaches the target on the following day.
I never found this to be a big problem, though...

Is it definitely the 'following day' as opposed to the 'following WORKING day'?

I've just transferred from Yorkshire building society (YBS) savings account to Halifax reward current account using YBS app. 

Received an email soon afterward from YBS saying:

If you sent funds to an external account, they will normally reach the destination bank by the end of the following day, so don't worry if this hasn't happened straight away.

Find out tomorrow (Saturday) I guess (if it's the 'following day' or 'following WORKING day').

Bridlington1

Principality's Online Double Access Issue 2 account is now paying 1.65% variable for balances of £1-£1,000,000.

refluxer

Expotter said:

Bridlington1 said:

Principality's Online Double Access Issue 2 account is now paying 1.65% variable for balances of £1-£1,000,000.

Do you know if it accepts transfers? It looks to me like it doesn't.

It's a normal savings account, not an ISA.

Expotter

refluxer said:

Expotter said:

Bridlington1 said:

Principality's Online Double Access Issue 2 account is now paying 1.65% variable for balances of £1-£1,000,000.

Do you know if it accepts transfers? It looks to me like it doesn't.

It's a normal savings account, not an ISA.

Sorry, my mistake!

Bigwheels1111

Why list 1.65% with Principality listed when you can get 1.9% Al Ryan.

I dont get it ?.