The Top Easy Access Savings Discussion Area

soulsaver

soulsaver said:

Cambridge BS has made the 2.1% Your Saver 'temporarily' NLA.
Our Your Saver Account is Temporarily Unavailable (cambridgebs.co.uk)

"We appreciate your patience and sincerely hope you will visit us again on Monday afternoon when the account will be available for new applications."

Cambridge available again as they promised... probably best to be quick, it'll be popular with Reward trappers...
Ford Money offer hasn't reappeared & is about to lose its place in the ToTP.

the_goon

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. 

Could someone point me towards this "95 day rolling pot trick" for Zopa. Must have missed that one.

Tom_Hendo

the_goon said:

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. 

Could someone point me towards this "95 day rolling pot trick" for Zopa. Must have missed that one.

First this assumes you have time to set it up and assumes Zopa is best in market or a competitive account you would want to keep either way. 

Zopa allows you to add money to a pot even if you have given notice on it, and this is the step you can take advantage of. Especially as they always update the interest rate to whatever the latest top rate is.

Depending on effort you can turn a 95 day notice account into a 7 day notice, 10 day, 30 day etc with the following steps. For purposes of this I will assume you want 10 day notice. 

Set up 10 x 95 day notice accounts with £1 in. Give notice on the first, then give notice every 10 days on accounts 2-10. At the point you get to 85 days later, you have 1 account 'maturing' every 10 days, so you can effectively put money into the top rate now, with 10 days notice. When it 'matures' create a new 95 pot and give notice, and put your money into pot 2 which will now be on 10 days notice. Rinse and repeat through these rotating accounts, thus having 95 day interest rate with 10 days notice. 

the_goon

Tom_Hendo said:

the_goon said:

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. 

Could someone point me towards this "95 day rolling pot trick" for Zopa. Must have missed that one.

First this assumes you have time to set it up and assumes Zopa is best in market or a competitive account you would want to keep either way. 

Zopa allows you to add money to a pot even if you have given notice on it, and this is the step you can take advantage of. Especially as they always update the interest rate to whatever the latest top rate is.

Depending on effort you can turn a 95 day notice account into a 7 day notice, 10 day, 30 day etc with the following steps. For purposes of this I will assume you want 10 day notice. 

Set up 10 x 95 day notice accounts with £1 in. Give notice on the first, then give notice every 10 days on accounts 2-10. At the point you get to 85 days later, you have 1 account 'maturing' every 10 days, so you can effectively put money into the top rate now, with 10 days notice. When it 'matures' create a new 95 pot and give notice, and put your money into pot 2 which will now be on 10 days notice. Rinse and repeat through these rotating accounts, thus having 95 day interest rate with 10 days notice. 

#applause

Now that is great thinking. Do Zopa not mind people doing this?

Tom_Hendo

the_goon said:

Tom_Hendo said:

the_goon said:

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. 

Could someone point me towards this "95 day rolling pot trick" for Zopa. Must have missed that one.

First this assumes you have time to set it up and assumes Zopa is best in market or a competitive account you would want to keep either way. 

Zopa allows you to add money to a pot even if you have given notice on it, and this is the step you can take advantage of. Especially as they always update the interest rate to whatever the latest top rate is.

Depending on effort you can turn a 95 day notice account into a 7 day notice, 10 day, 30 day etc with the following steps. For purposes of this I will assume you want 10 day notice. 

Set up 10 x 95 day notice accounts with £1 in. Give notice on the first, then give notice every 10 days on accounts 2-10. At the point you get to 85 days later, you have 1 account 'maturing' every 10 days, so you can effectively put money into the top rate now, with 10 days notice. When it 'matures' create a new 95 pot and give notice, and put your money into pot 2 which will now be on 10 days notice. Rinse and repeat through these rotating accounts, thus having 95 day interest rate with 10 days notice. 

#applause

Now that is great thinking. Do Zopa not mind people doing this?

Speaking politically, I would suggest it is not the intended use of the boost pot option. But it is an optimised version of the options they have provided for us to use. 

jimexbox

Unless zopa increase their saving rates, just stick everything in Al Rayan or Charter. 

janusdesign

the_goon said:

Tom_Hendo said:

the_goon said:

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. 

Could someone point me towards this "95 day rolling pot trick" for Zopa. Must have missed that one.

First this assumes you have time to set it up and assumes Zopa is best in market or a competitive account you would want to keep either way. 

Zopa allows you to add money to a pot even if you have given notice on it, and this is the step you can take advantage of. Especially as they always update the interest rate to whatever the latest top rate is.

Depending on effort you can turn a 95 day notice account into a 7 day notice, 10 day, 30 day etc with the following steps. For purposes of this I will assume you want 10 day notice. 

Set up 10 x 95 day notice accounts with £1 in. Give notice on the first, then give notice every 10 days on accounts 2-10. At the point you get to 85 days later, you have 1 account 'maturing' every 10 days, so you can effectively put money into the top rate now, with 10 days notice. When it 'matures' create a new 95 pot and give notice, and put your money into pot 2 which will now be on 10 days notice. Rinse and repeat through these rotating accounts, thus having 95 day interest rate with 10 days notice. 

#applause

Now that is great thinking. Do Zopa not mind people doing this?

i'm so glad to see my original idea on manipulating these access pots is still being used... it was my one bright idea this year!

Bigwheels1111

Just spoke to Gatehouse about the easy access account.

No rate rise, in fact the easy access account has been withdrawn.

Off to Charter for me

financialbliss

Bigwheels1111 said:

Just spoke to Gatehouse about the easy access account.

No rate rise, in fact the easy access account has been withdrawn.

Off to Charter for me

Perhaps not...

intalex

Is this a sign of further rate rises in general going on hold?