The Top Easy Access Savings Discussion Area

Daliah

Nick_C said:

ForumUser7 said:

Freebird53 said:

Nick_C said:

YBS often has competitive savings products.  

Do you know of any other account where you can put £5k and get 2.5% interest with access to your money should you need it?

And if you do join YBS and maintain an account with them (you only need to lend them a pound), then a year from now you may be able to stick half a million in something like their Loyalty Six account.

In the meantime, you could stick quarter of a million in the Family Building Society's two year tracker which is currently paying 3.1% with a monthly interest option.

But most people with substantial savings invest their money.  Whatever savings account you open, your money is guaranteed to lose value.

Surely the financial lanscape will be significantly different in six months, let alone a year?

I can see a 2yr tracker currently @ 2.6%. Does seem interesting though.

Perhaps most would, but unfortunately after much reading, i decided i possessed neither the knowledge, nor expertise to invest there, which is why i'm here.

Is that two year tracker open to new customers? If so, where please? Thank you

The FBS tracker is now 3.1pc - as of today.  I expect the Web site will be updated on Monday.

https://www.moneysavingexpert.com/news/2022/09/family-bs-base-rate/

https://www.familybuildingsociety.co.uk/savings/bonds/product-detail/2-year-tracker-rate-bond-(11)

Why are there posts about 2-year fixes in the easy access thread? There's an existing thread for fixed term savings.

alternate

Bigwheels1111 said:

alternate said:

is al ryan 5k in one go or can you do the one pound test transfer?

also how do you get your login details?

thanks

Yes £1 test payment is fine.
Apply, get your account details and go to the app.
Select the second option, log in with account details.
Something like that.
Then you are up and running same day, no waiting for details in the post.

thanks for that

Bigwheels1111

alternate said:

Bigwheels1111 said:

alternate said:

is al ryan 5k in one go or can you do the one pound test transfer?

also how do you get your login details?

thanks

Yes £1 test payment is fine.
Apply, get your account details and go to the app.
Select the second option, log in with account details.
Something like that.
Then you are up and running same day, no waiting for details in the post.

thanks for that

Your welcome, my profit arrived this morning like clockwork.
Plus the rate is now 2.35%.

Daliah

Ref Al Rayan:

In my 5+ years experience with them, they don't operate Sat, Sun and bank holidays. Deposits and withdrawals made on those days will be processed the next working day. They have the customary maintenance downtimes outside main hours but otherwise their app has always been available.

Deposits usually show within a couple of hours during business hours on working days. Not sure whether everyone now gets a text when payments arrive - I didn't, for years, but last week they have started to send me texts, without me making any changes to my settings (not that I could find any for deposit notifications).

Withdrawals also arrive within a couple of hours during business hours on working days. You can also schedule future payments, which will arrive [on working days] around 10am. Note these are singleton payments, not SOs (which they have sadly withdrawn) but it looks like you can set up any number of scheduled payments.

I have held Al Rayan easy access savers for some 5 years on and off.  They have paid the expected profit (EPR)  as regular as clockwork on the 1st of every month. When the EPR dropped, they gave plenty of notice before the drop came into effect, and the previous EPR always got paid until the new effective day. When rates rise, they rise on your account on the effective date without you having to do anything - except if they launch a new account, in which case, it's easy to apply for it, and to move your existing balance to it. Closing a redundant account involves messaging them but they act quite swiftly.

For many months, when the savings rates were in the doldrums and it was hard to get more than 0.5%, they kept paying 1.1%. I am delighted to see them tops again. It takes a bit of getting used to their app but generally, it's really easy to do what you need to do. If they randomly block outgoing payments (as all banks do these days), you might have to spend considerably time on the phone, or just be patient, to get your payment cleared. No different to other banks in that regard. Their phone CS is courteous, skilled and efficient. I have never used any of their branches, not least because there's none within 100 miles from where I live. I also have not used, or researched, any other accounts they offer.

Withdrawals are limited to £20k online, or £10K on the phone per day. You can get CHAPS transfers for higher amounts for a charge of £15.

For people who dislike apps, there's some sort of hardware-token based online access which I never investigated further as I prefer apps, anyway. So you'll have to DYOR if you'd rather do online banking.

I can't remember what if any proof of ID I had to provide but it wasn't anything painful or I would remember. https://www.alrayanbank.co.uk/sites/default/files/media/file-uploads/2021-02/lit-per-proof-id.pdf

mebu60

Aidanmc said:

The cut off time for deposits to be credited in Charter is 1pm, so if you sent it yesterday, friday, at 4pm it won't show up until Monday.

Thanks A, would have been useful if they'd put that info under 'How do I make a deposit' which is on the account summary page or in the product summary rather than hidden away in the FAQs where I have now found it. Hopefully it will be credited from the  Friday. 

Thanks too to 2010, hopefully I will receive an email on Monday as I should be able to access that Monday evening. 

Your respective inputs much appreciated. 

jaypers

As a Barclays customer, just rejoined Blue Rewards and opened a Rainy Day Saver and paid in £5k for the 5% interest. All immediate. No brainer and only found out because of this thread. Thanks. 

I-LOV-MONEY

With the  Blue Rewards account, you have to deposit £800 pm.   Can I deposit it and then withdraw it the same/next day?

soulsaver

I-LOV-MONEY said:

With the  Blue Rewards account, you have to deposit £800 pm.   Can I deposit it and then withdraw it the same/next day?

Same minute if you're quick enough.. 
I CBA logging in to do it/having to remember, so I automate it by a transfer in, and back out by standing order on consequetive days; but you can manually do it in seconds and qualify.

snnexus6

This is hardly going to affect much apart from the back end of the Top 12, but Investec Online Flexi Saver is now at 1.95% AER for balances of £5k or more. (Less than £5k = 0%)

unlimited withdrawals.

t1redmonkey

Question; if you move money on the weekend to a savings account where the money won't show in your account until the Monday, does the interest earned get 'backdated' to the weekend day when the transfer was initiated, or does it only begin once it appears in the new account on the Monday?