The Top Easy Access Savings Discussion Area

Nick_C

t1redmonkey said:

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?

I would say you would earn interest from the date showing on the account.

I moved money on Saturday 1/10 to Lloyds and Halifax.  The money was showing on Saturday, but with a date of Monday 3rd.

Payments into Nationwide (internal transfer), YBS, and Principality, all showed online with a credit date of 1/10.

Payments to Cambridge BS, Saffron BS, and Skipton BS made on Saturday have not been credited yet.

Bridlington1

Nick_C said:

t1redmonkey said:

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?

I would say you would earn interest from the date showing on the account.

I moved money on Saturday 1/10 to Lloyds and Halifax.  The money was showing on Saturday, but with a date of Monday 3rd.

Payments into Nationwide (internal transfer), YBS, and Principality, all showed online with a credit date of 1/10.

Payments to Cambridge BS, Saffron BS, and Skipton BS made on Saturday have not been credited yet.

With Cambridge BS you can make deposits by debit card. I made 3 £500 deposits by debit card on Saturday and they were credited straight away. Though I've found they won't accept debit card deposits of £1k+ in one go.

NS&I debit card deposits earn interest from the day they are made, regardless of whether or not it is a working day. I assume faster payments are the same.

S_uk

I'm hoping Gatehouse Bank and Zopa announce rate increases in the next few days.

Bigwheels1111

S_uk said:

I'm hoping Gatehouse Bank and Zopa announce rate increases in the next few days.

Gatehouse easy access is moving one way or the other, sites been off for 2 days.

MiserlyMartin

ForumUser7 said:

Sg28 said:

ForumUser7 said:

homeless9 said:

Apparently Santander will change their rates tomorrow.

The new rate information is attached below for anyone interested, or wondering: https://www.santander.co.uk/personal/support/savings-and-investments/changes-to-your-savings-accounts

Is that isa available for new customers? 

The Good for Life ISA? I don't think so, I couldn't see it on their website, or the Rate for Life when I tried to open one just now.

It's listed in the off sale accounts. I don't remember that ISA ever coming on sale. Shame, it's a good one, linked to the base rate. (AS ALL ISA'S SHOULD BE!) We have seen government interference in markets giving away as much free money as possible lately, it's about time they 'interfered' with ISAs and savings rates, if they are going to be that socialist.

chris_the_bee

Nick_C said:

t1redmonkey said:

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?

I would say you would earn interest from the date showing on the account.

I moved money on Saturday 1/10 to Lloyds and Halifax.  The money was showing on Saturday, but with a date of Monday 3rd.

Payments into Nationwide (internal transfer), YBS, and Principality, all showed online with a credit date of 1/10.

Payments to Cambridge BS, Saffron BS, and Skipton BS made on Saturday have not been credited yet.

My payments to Cambridge are always made on 1st of a month and are credited on the statement as that day, even 1st January. Agree re, Saffron, they credit only on a normal working weekday. I don't know about Skipton.

Tom_Hendo

S_uk said:

I'm hoping Gatehouse Bank and Zopa announce rate increases in the next few days.

This. Zopa app is one of the most user friendly savings apps I've ever used, would be a shame to have to jump. Especially with the new 95 day rolling pot trick someone recently mentioned!

I'm giving it until Friday, or going best buy I reckon. 

jimexbox

Tom_Hendo said:

S_uk said:

I'm hoping Gatehouse Bank and Zopa announce rate increases in the next few days.

This. Zopa app is one of the most user friendly savings apps I've ever used, would be a shame to have to jump. Especially with the new 95 day rolling pot trick someone recently mentioned!

I'm giving it until Friday, or going best buy I reckon. 

I think Zopa will increase rates, it's just will they remain competitive. Their fixed pots are great while I wait until January for a 1-year fix, the issue now is their 95-day pot is at 2.25%, easy access at 1.85%.

wiseonesomeofthetime

I have given up waiting and my 2.25% pots that matured today have been transferred to my 2.50% EA account elsewhere.

andyhicks88

I would say hold fire on Zopa.  They didn't increase straight away after the last base rate increase, it was the week after. So I'd expect there might be some movement there this week.