The Top Easy Access Savings Discussion Area

Daliah

Molehusband said:

Bridlington1 said:

According to Moneyfacts, Gatehouse Bank's easy access account will soon be paying 2% EPR.

Yes, I see it says that. I have some confusion about it because, while it indicates the account can be opened online (presumably through website), yet apparently it can only be managed by App. Also it suggests "Easy Access" is not available but doesn't give details about that.

Go to https://gatehousebank.com/personal/savings/easy-access/easy-access

razord

Daliah said:

Question to those with a Gatehouse Easy Access accounts: how long do withdrawals take? Do they process them 7 days a wekk?

I'd also like to know this. I signed up, but it looks like deposits all go through one primary account, rather than direct into your own account number like Zopa and Chase - which I assume will slow things down.

Molehusband

Daliah said:

Molehusband said:

Bridlington1 said:

According to Moneyfacts, Gatehouse Bank's easy access account will soon be paying 2% EPR.

Yes, I see it says that. I have some confusion about it because, while it indicates the account can be opened online (presumably through website), yet apparently it can only be managed by App. Also it suggests "Easy Access" is not available but doesn't give details about that.

Go to https://gatehousebank.com/personal/savings/easy-access/easy-access

Thanks, I see it's operated under Shariah principles. Strangely, Moneyfacts suggests under their Early Access Allowed this is not available, yet the Gatehouse site gives the impression it's instant access, so I'm still a little confused.

Daliah

razord said:

Daliah said:

Question to those with a Gatehouse Easy Access accounts: how long do withdrawals take? Do they process them 7 days a wekk?

I'd also like to know this. I signed up, but it looks like deposits all go through one primary account, rather than direct into your own account number like Zopa and Chase - which I assume will slow things down.

Agree, it's likely to slow things down. Plus, the deposit details they give you at the end of the application seem to be wrong - - -  you can't actually enter the Reference in your payment instructions as it's too many digits. Once you have the app installed, they give you different payment details, some that look usable. I have sent £1 now.....

This from their FAQ:

Not sure whether £1 test payments work. I shall find out…

soulsaver

ToTP updated to include new table topper, Gatehouse.

Investec 1.70% (£5k min for the rate) fails to make the cut. Online Flexi Saver from Investec | Instant Access Savings Account

Note table is on page 700 now. For those with signature blocking, see here..

janusdesign

with Gatehouse, i've seen large deposits appears within tens of minutes (e.g 20-30 mins) in the mornings... though I don't think i get any notification (sms, email etc) when a deposit arrives - so i'm working from memory and can't comment on withdrawals.

infoadict

@ Daliah - Re  Gaetehouse here is a post I did regarding this on August 16th

Now I'm confused.

I took a screenshot of my application and it gives me my Account Reference Number - as 95.......(9 digits). Further down it tells you how to make a deposit from your bank using their account sort code and account number and this reference number followed by surname.

But when I login to my account as you suggest it gives my Account Number as EAA66..........+ first 3  letters of my surname.

Which of the two do I use to set up from my bank?

EDIT - Sorry - why should I ask you when I should simply have asked Gatehouse

They say both are fine, so it doesn't matter.

Also asked if a test payment below £1,000 would be accepted, but it won't and will be rejected. But you will receive an email telling you this, so you will know the account has been set up correctly.

KTF

I already have an Al Ryan account so have no concerns about the profit/interest aspect. 

Hopefully their app will be better than the Al Ryan one. Cant be much worse

Molehusband

KTF said:

I already have an Al Ryan account so have no concerns about the profit/interest aspect.

How does the EPR work in real life - at what point do you actually find out what you will receive? Nowhere have I seen any description. So, after you've opened your account, at what stage do you find out what profit £ you will actually get on your savings? Is a £xxx figure added to your balance at particular times (eg annually)? If so, will you retain that figure or can they later say, sorry, we're removing £yyy from what we've previously paid you as the EPR has reduced?

mebu60

Re closing old Tesco Bank Internet Saver accounts using the form rather than phoning, you can only use the form if the balance is zero. Which it may show as zero but if you have residual bonus or variable rate interest still to be paid there is no clarity on what happens or anywhere to say where you wish the accumulated interest to be paid.

I used to move the capital online to the new Internet Saver and leave the old accounts showing at zero or £1 then call at some random point to get them closed altogether with the interest added to the latest Internet Saver.

However! I now have a Tesco Cash ISA. To get the latest interest rate you have to ring each time to apply which takes 15 minutes or so as they have a lot to read out to you, then wait up to 5 days for the internal ISA transfer to happen. You do at least get the new rate from the application date. And of course it's on a slightly increased capital sum with the interest accrued having been added. 

So I now open the new Internet Saver before making the ISA call and get the old Internet Saver closed at the same time. 

As someone said on here recently, all the providers seem to have their own idiosyncrasies, your judgement if the reward is worth the effort.