The Top Easy Access Savings Discussion Area

TomDolan

just had an email from Tandem:

"Great news! We're just about to increase the interest rate on your Instant Saver to 1.83% gross / 1.85% AER, and we can't wait to help you save and hit your money goals.

We'll apply this higher rate to your account automatically, so you don't need to do anything and you don't need to contact us. Your account will update and you'll see your new rate in the app by the end of the day on Thursday the 29th September 2022. Happy saving."

Nick_C

BigBlueSky said:

Anyone know what the Cambridge BS and Sainsburys account are like for deposits and withdrawals in terms of how long it takes?  Are they near instant?

Thanks in advance 

Withdrawals from Cambridge BS are same day if done early on a working day.  Don't know what the cut off time is, and their faster payments out take a few hours to reach the recipient.

Faster Payments in to Cambridge (through a Barclays clearing account) are processed same day, even if that is not a normal banking day.  I funded my Cambridge Regular Saver on Sunday 1 May from Chase.

ETA - Cambridge BS is particularly useful if you have the Halifax Reward Current Account, as you can deposit by Debit Card.  Skipton and Yorkshire also accept DC deposits.  Debit cards deposits usually take two days to clear though.

SJMALBA

What_time_is_it said:

alternate said:

I believe this account is a withdrawn account but many will likely still have it.

Coventry Building Society


Good news - we’re increasing the interest rate on your Limited Access Saver (Online) again.  New rate 2.25% APR.

Is that the Four Access Saver?

It applies to the 'Four Access Saver', too.

https://www.coventrybuildingsociety.co.uk/content/dam/cbs/member/pdfs/savings/rate-change-notice.pdf

janusd

with the new Cambridge BS account, does anyone know if they send the User ID in the welcome letter by post? Opened a Newcastle BS account yesterday and they sent the userid by email, but nothing arrived so far from Cambridge... if I have to wait for it by post, then I may not be able to login for another week!

ForumUser7

janusdesign said:

with the new Cambridge BS account, does anyone know if they send the User ID in the welcome letter by post? Opened a Newcastle BS account yesterday and they sent the userid by email, but nothing arrived so far from Cambridge... if I have to wait for it by post, then I may not be able to login for another week!

Unsure what the process is now, but when I opened my account in June I called up to set up online access once I got confirmation my application was accepted, then I got sent a USER ID by email and registered. Might’ve changed now, but that’s what I did a few months ago

soulsaver

Bit of an issue with Cambridge BS:

In the summary it makes no mention of limited access; but in the small print 'special terms & conditions' 

'5.2 Your Saver allows one withdrawal per calendar month'.

your-saver-september-2022.pdf (cambridgebs.co.uk)

IMO it's a big enough issue that it should be in the summary.

eta link
Ignore - was rushing around and missed it... twice lol

janusd

it's mentioned on the site and in the summary box of that PDF...

"Can I withdraw money?
After the first 14 days you can withdraw cleared funds from your account once every calendar month without giving notice or paying a fee. More frequent withdrawals are not permitted."

mebu60

What_time_is_it said:

alternate said:

I believe this account is a withdrawn account but many will likely still have it.

Coventry Building Society


Good news - we’re increasing the interest rate on your Limited Access Saver (Online) again.  New rate 2.25% APR.

Is that the Four Access Saver?

I had email saying increasing rate on Four Access Saver statement - again.

Got all excited until realised they weren't increasing rate again, just telling me again about the increase on 07:10 to 2.25%. 

mebu60

soulsaver said:

Bit of an issue with Cambridge BS:

In the summary it makes no mention of limited access; but in the small print 'special terms & conditions' 

'5.2 Your Saver allows one withdrawal per calendar month'.

your-saver-september-2022.pdf (cambridgebs.co.uk)

IMO it's a big enough issue that it should be in the summary.

eta link

It is in the summary box. Manage the account: Can I withdraw money? After the first 14 days you can withdraw cleared funds from your account once every calendar month without giving notice or paying a fee. More frequent withdrawals are not permitted. 

mebu60

Kazza242 said:

According to Moneyfacts, the Sainsbury's Bank Defined Access Saver (issue 32) rate will be increasing to 2.00%.

It is a limited access account, which allows 3 penalty free withdrawals per year.  

The 2.00% rate will be paid on balances between £1,000 - £500,000 (FSCS compensation limit £85K).

See the link below for more details: 

https://www.sainsburysbank.co.uk/savings/sav_definedsaver_skip

The current Defined Access is Issue 31 at 1.55%. Issue 32 is a new account that Issue 31 holders will have to apply for, wait a week or so for it to be linked to your account then call to go through the transfer and close rigmarole. My Issue 31 had been reduced to the minimum £1k anyway. Have set up an Issue 32 2.0% and have applied for Cambridge BS Your Saver 2.1%. 

Thanks to those who provided Al Rayan insights and info the other day. My inertia has paid dividends now I can replicate interest in an old school manner :-)