The Top Easy Access Savings Discussion Area

wiseonesomeofthetime

AndyTh_2 said:

Annoyingly, like they also did for the YBS Loyalty Regular Saver, their online apply doesn't think I've been with them for 12 months (consecutively I've had accounts overlapping periods with them since 2020, but the oldest account was closed), so my only option is the postal version, which they allowed for the regular saver.

Anyway, I'm not making that mistake again, and so am keeping my current oldest account open.

Hmm. I wonder if I would have the same issue again as well.

I have been a YBS customer since 2019, however, no continuous account since then, but certainly overlapping ones. I had to apply for the Loyalty RS by phone and post to get it added to my online accounts.

Timing is right though, as I have a five-figure sum being freed from Zopa's 95 day notice account at 2.25% next week. The way I see it, if I can allow 95 days to pass before I can access that sum, then I can certainly cope with a restriction of only six penalty free access withdrawals a year

Edit:
Remarkably, I did not have the same issues as with the Loyalty RS and have just opened an account quickly and smoothly as an existing online customer

AndyTh_2

wiseonesomeofthetime said:

Edit:
Remarkably, I did not have the same issues as with the Loyalty RS and have just opened an account quickly and smoothly as an existing online customer

Oh, thank you for mentioning that. I tried again as I suspected something might have changed in the last few hours as it allowed you, and I was able to open my account!

I guess I can just ignore the postal application then

Masetw

Currently have 95% of my savings with Zopa at 1.85%.... with the recent increase at BoE should I hang tight for a week or so or start to move my money now?

jimexbox

Masetw said:

Currently have 95% of my savings with Zopa at 1.85%.... with the recent increase at BoE should I hang tight for a week or so or start to move my money now?

I'm with zopa, I spread my cash across their boosted pots. Zopa have passed on a percentage of recent base rate increases. So personally I'll wait, probably bump them up next week. 

Bridlington1

Masetw said:

Currently have 95% of my savings with Zopa at 1.85%.... with the recent increase at BoE should I hang tight for a week or so or start to move my money now?

Move it now. Not only will you earn more interest but it will incentivise Zopa to put their interest rates up.

Sg28

So the loyalty saver has no max? Looks like ybs currently top spot for my zopa money when it matures next week.

Will it be beaten???

Beddie

Masetw said:

Currently have 95% of my savings with Zopa at 1.85%.... with the recent increase at BoE should I hang tight for a week or so or start to move my money now?

Personally I'd wait a week or two to see what all the providers come up with, then be in a better position to see whether to stick with them or move it.

AndyTh_2

Sg28 said:

So the loyalty saver has no max? Looks like ybs currently top spot for my zopa money when it matures next week.

Will it be beaten???

It’s difficult to say, but the previous highest rate easy access was Al Rayan at 2.1%

Savings products aren’t known to always give the full basic rate increase, so whether we’ll see any 2.6% before the next base rate movement is unlikely, but notice accounts may end up higher.

Saying that though, banks/BS might start factoring in a possible 1% base rate increase early due to the way things are going.

noh

Sg28 said:

So the loyalty saver has no max? Looks like ybs currently top spot for my zopa money when it matures next week.

Will it be beaten???

The maximum balance is £500,000

where_are_we

For quite a while I have kept £10 in my Yorkshire BS Six Access E Saver to make sure I qualify for their very competitive Loyalty products. Their various Regular Saver products mature after 1 year and I`m not sure if having one of these would qualify for these conditions even if you start a new RS when an old one matures.

"To be eligible to open a Loyalty Six Access eSaver you must have had an open account (Savings or Mortgage) with Yorkshire Building Society as either Main Holder, Other holder or Trustee for at least the 12 consecutive months prior to applying and already be registered for online access." 

 Like "Wiseonesomeofthetime" I have a large sum in Zopa 95 day access account which when free I will transfer to the new Yorkshire Loyalty Six Access e Saver unless a better product comes along.

One has to be careful with locking your cash in notice and fixed rate accounts that appear to be offering a good rate of interest at the time only to be bettered by subsequent new savings products. It is difficult to predict when interest rate will plateau.