The Top Easy Access Savings Discussion Area

alternate

I have real world experience of why the high street can keep their rates low.

A family friend solicited advice from me about where to put their life savings.  I pointed them to the best rates list.  Said thanks but they dont trust "internet banks".  Ended up making an appointment at Barclays with one of their "ad visors".  They will end up getting buttons.

Nick_C

For anyone else considering opening an account with Ford Money.

Deposits must be made (normally by faster payment, no debit cards) from a single linked current account with a UK bank or building society.  

Deposits made before 4pm are credited same day.  After 4pm, next day.

Withdrawals made before 2pm will reach your linked account on the next business day.  After 2pm, the following business day.

https://www.fordmoney.co.uk/help/managing-your-account/moving-money

Freedommm

Why would you deposit funds into any of them now? Wait until the imminent rate hike of 0.75% is effective, then pick the best account reflecting the latest interest official rate, which is about to reach 2.5%

Sg28

Freedommm said:

Why would you deposit funds into any of them now? Wait until the imminent rate hike of 0.75% is effective, then pick the best account reflecting the latest interest official rate, which is about to reach 2.5%

Ill be waiting another 2 weeks. See where things settle.

Speculator

Nick_C said:

For anyone else considering opening an account with Ford Money.

Deposits must be made (normally by faster payment, no debit cards) from a single linked current account with a UK bank or building society.  

Deposits made before 4pm are credited same day.  After 4pm, next day.

Withdrawals made before 2pm will reach your linked account on the next business day.  After 2pm, the following business day.

https://www.fordmoney.co.uk/help/managing-your-account/moving-money

Also texts confirming deposits are sent out at  16:06 to 16:08 each day.

Thumbs_Up

Can the banks network servers handle the to-and-fro of peoples cash that gets taken from one bank and added to another? I guess so.

Personal opinion but I won’t get to excited until savings rates are 5%

 

refluxer

Thumbs_Up said:

Can the banks network servers handle the to-and-fro of peoples cash that gets taken from one bank and added to another? I guess so.

It's very easy to get a distorted view of savers and their habits when you hang out in this forum. AFAIK, the majority of my friends and family don't move money around anywhere near as often as the typical Savings and Investment forumite - I suspect we're in the minority !

Thumbs_Up

refluxer said:

Thumbs_Up said:

Can the banks network servers handle the to-and-fro of peoples cash that gets taken from one bank and added to another? I guess so.

It's very easy to get a distorted view of savers and their habits when you hang out in this forum. AFAIK, the majority of my friends and family don't move money around anywhere near as often as the typical Savings and Investment forumite - I suspect we're in the minority !

Regarding bank savings I thought the word apathy was old fashion and dated. Apparently not, I have 2 siblings with cash savings over £150k each on 0.1% rates, they do not and will not listen to me. I have given up with them.

Patr100

Thumbs_Up said:

refluxer said:

Thumbs_Up said:

Can the banks network servers handle the to-and-fro of peoples cash that gets taken from one bank and added to another? I guess so.

It's very easy to get a distorted view of savers and their habits when you hang out in this forum. AFAIK, the majority of my friends and family don't move money around anywhere near as often as the typical Savings and Investment forumite - I suspect we're in the minority !

Regarding bank savings I thought the word apathy was old fashion and dated. Apparently not, I have 2 siblings with cash savings over £150k each on 0.1% rates, they do not and will not listen to me. I have given up with them.

 If they they were offered hundreds of pounds for an  hour's work sitting front of a PC switching for the difference in income they would jump at it - but they can't see it that way .
We're moving money around all time time to chase the rates but some  like mine First Direct offer a pathetic
0.55% for their Annual fixed rate. It's almost insulting how they rely on customer inertia.

Bridlington1

Harpenden BS have launched a triple access account at 1.9% variable for 3 or less withdrawals.