The Top Easy Access Savings Discussion Area

fearbeag

Marcus Bank have increased their instant access rates to 1.8% which is quite good. Unlike some of the challenger banks, moving money from them into your nominated account is literally instant.  i.e. if you transfer money by the time you log on to your nominated account the money is in there. With most of the challenger banks it is by close of business the following working day which can be problematic if over the weekend. 

RG2015

Nick_C said:

refluxer said:

I think it's safe to say that Chase's recent UK launch campaign has been successful in attracting new customers and that they have no reason/need to increase the rate on their Chase Saver account any time soon - presumably doing so would just add to their predicted losses.

JP Morgan's digital bank Chase hits 1 million UK customers

The savings account is brilliant.  I have 14 scheduled monthly payments going out of it to feed Regular Savers and current accounts with other institutions.  Just need to make one payment in each month from a high interest instant access account to keep the whole thing going.  I don't know of any account that would give me that level of functionality and 1.5% interest.  And it processes payments at the weekends and on bank holidays.

This is a valid point. It is probably unique for an interest paying account at this level of interest.

From my perspective, I have plenty of spare time and my number one goal is rate maximisation.

I guess you keep the Chase balance to a minimum and have any other savings in an account offering much more than 1.50%

AndyTh_2

RG2015 said:

Nick_C said:

refluxer said:

I think it's safe to say that Chase's recent UK launch campaign has been successful in attracting new customers and that they have no reason/need to increase the rate on their Chase Saver account any time soon - presumably doing so would just add to their predicted losses.

JP Morgan's digital bank Chase hits 1 million UK customers

The savings account is brilliant.  I have 14 scheduled monthly payments going out of it to feed Regular Savers and current accounts with other institutions.  Just need to make one payment in each month from a high interest instant access account to keep the whole thing going.  I don't know of any account that would give me that level of functionality and 1.5% interest.  And it processes payments at the weekends and on bank holidays.

This is a valid point. It is probably unique for an interest paying account at this level of interest.

From my perspective, I have plenty of spare time and my number one goal is rate maximisation.

I guess you keep the Chase balance to a minimum and have any other savings in an account offering much more than 1.50%

Yes, the only thing I’ve used close to that in the past was the 123 current account when it gave 3% on £20k, and so for the forceable future my chase savings account is my fake main current account, and not my savings account.

RG2015

AndyTh_2 said:

RG2015 said:

Nick_C said:

refluxer said:

I think it's safe to say that Chase's recent UK launch campaign has been successful in attracting new customers and that they have no reason/need to increase the rate on their Chase Saver account any time soon - presumably doing so would just add to their predicted losses.

JP Morgan's digital bank Chase hits 1 million UK customers

The savings account is brilliant.  I have 14 scheduled monthly payments going out of it to feed Regular Savers and current accounts with other institutions.  Just need to make one payment in each month from a high interest instant access account to keep the whole thing going.  I don't know of any account that would give me that level of functionality and 1.5% interest.  And it processes payments at the weekends and on bank holidays.

This is a valid point. It is probably unique for an interest paying account at this level of interest.

From my perspective, I have plenty of spare time and my number one goal is rate maximisation.

I guess you keep the Chase balance to a minimum and have any other savings in an account offering much more than 1.50%

Yes, the only thing I’ve used close to that in the past was the 123 current account when it gave 3% on £20k, and so for the forceable future my chase savings account is my fake main current account, and not my savings account.

I had two with £20k in each earning £100 per month and cashback which easily covered the monthly fee of £2.00 on each one.

Moreover, I did not have to keep moving money to better paying savings accounts.

Oh Happy Days!

Section62

fearbeag said:

Marcus Bank have increased their instant access rates to 1.8% which is quite good.

I think that happened a while back, not sure exactly when though.

Edit: 22nd September.

AndyTh_2

RG2015 said:

AndyTh_2 said:

RG2015 said:

Nick_C said:

refluxer said:

I think it's safe to say that Chase's recent UK launch campaign has been successful in attracting new customers and that they have no reason/need to increase the rate on their Chase Saver account any time soon - presumably doing so would just add to their predicted losses.

JP Morgan's digital bank Chase hits 1 million UK customers

The savings account is brilliant.  I have 14 scheduled monthly payments going out of it to feed Regular Savers and current accounts with other institutions.  Just need to make one payment in each month from a high interest instant access account to keep the whole thing going.  I don't know of any account that would give me that level of functionality and 1.5% interest.  And it processes payments at the weekends and on bank holidays.

This is a valid point. It is probably unique for an interest paying account at this level of interest.

From my perspective, I have plenty of spare time and my number one goal is rate maximisation.

I guess you keep the Chase balance to a minimum and have any other savings in an account offering much more than 1.50%

Yes, the only thing I’ve used close to that in the past was the 123 current account when it gave 3% on £20k, and so for the forceable future my chase savings account is my fake main current account, and not my savings account.

I had two with £20k in each earning £100 per month and cashback which easily covered the monthly fee of £2.00 on each one.

Moreover, I did not have to keep moving money to better paying savings accounts.

Oh Happy Days!

I had 2 as well. I called my second one the “2 3 4 current account” and still remember a call centre person giggling when they saw it.

Kazza242

According to Moneyfacts, the Cambridge Building Society Your Saver account interest rate will be increasing, from 1.75% to 2.10%. 

This is a limited access account, as it permits only one penalty-free withdrawal per calendar month.  

https://www.cambridgebs.co.uk/savings/easy-access/your-saver

Bridlington1

Tandem's instant access saver account is now paying 1.85%.

Thumbs_Up

Bridlington1 said:

Tandem's instant access saver account is now paying 1.85%.

Over the last 3 days I took out 85k and transfer to Atom at 1.90%.

Every little helps.

Desk

Is there a limit on the sum that can be withdrawn at any one time?

That is, if the withdrawal limit was £30,000 and you had transferred £85,000 would you have to move it over there consecutive months or otherwise just close the account?

Desk