The Top Easy Access Savings Discussion Area

BarGin

kaMelo said:

They're called easy access accounts rather that instant.

This is the account I have:

https://www.alrayanbank.co.uk/savings/everyday-saver-issue-3

"Instant access to your money when you need it. This account is online only."

Thirty9

wiseonesomeofthetime said:

Zopa just worked for me. 

Was able to give notice. 

I've just now successfully managed to transfer money out of my Zopa easy access pot.

soulsaver

BarGin said:

kaMelo said:

They're called easy access accounts rather that instant.

This is the account I have:

https://www.alrayanbank.co.uk/savings/everyday-saver-issue-3

"Instant access to your money when you need it. This account is online only."

You're off topic then, this is an Easy Access thread...

alternate

Faster payments are great and we have got so used to moving money in minutes.  The smaller banks are not totally automated like a lot of the big high street offerings so weekends are not going to be as fast as you are used to.

May I suggest a bank like Halifax?  Instant access on Sundays.  Of course their rate is only 0.4% ...

Malchester

alternate said:

Faster payments are great and we have got so used to moving money in minutes.  The smaller banks are not totally automated like a lot of the big high street offerings so weekends are not going to be as fast as you are used to.

May I suggest a bank like Halifax?  Instant access on Sundays.  Of course their rate is only 0.4% ...

Or another suggestion - keep some money in a true instant access account where access is truly instant and the rest elsewhere where the funds are easy access. I have kept a small amount in my Nationwide FlexInstant Account (it was paying just 1% but is now 2%) as a cash flow account to top up my NW FlexDirect where needed or for access to real cash, and where the transfer across takes a second to complete (either way) and the rest of my easy access money is with Gatehouse Bank. I find this works well for me.

polymaff

Even though it is the fastest free payment system, FPS is not a guaranteed same-day service.

alternate

Malchester said:

alternate said:

Faster payments are great and we have got so used to moving money in minutes.  The smaller banks are not totally automated like a lot of the big high street offerings so weekends are not going to be as fast as you are used to.

May I suggest a bank like Halifax?  Instant access on Sundays.  Of course their rate is only 0.4% ...

Or another suggestion - keep some money in a true instant access account where access is truly instant and the rest elsewhere where the funds are easy access. I have kept a small amount in my Nationwide FlexInstant Account (it was paying just 1% but is now 2%) as a cash flow account to top up my NW FlexDirect where needed or for access to real cash, and where the transfer across takes a second to complete (either way) and the rest of my easy access money is with Gatehouse Bank. I find this works well for me.

Good advice.  tbf mine was less of a suggestion and more me being snarky

BarGin

BarGin said:

I made my first major withdrawal from Al Rayan yesterday afternoon. It was a few 000's to my Chase current account. It's still not arrived. I made a small withdrawal to the same account last week which arrived within 20 minutes.

I'm beginning to think I made a big mistake putting a lot of money in Al Rayan. Just spent 53 minutes holding on their phone line, listening to some awfully depressing music, only to be cut off before I got to speak to anyone. And my withdrawal still hasn't arrived!

Wheres_My_Cashback

BarGin said:

BarGin said:

I made my first major withdrawal from Al Rayan yesterday afternoon. It was a few 000's to my Chase current account. It's still not arrived. I made a small withdrawal to the same account last week which arrived within 20 minutes.

I'm beginning to think I made a big mistake putting a lot of money in Al Rayan. Just spent 53 minutes holding on their phone line, listening to some awfully depressing music, only to be cut off before I got to speak to anyone. And my withdrawal still hasn't arrived!

Al Rayan are perfectly good if you understand how they work and have consistently had higher paying easy access accounts over the last few years.

You just have to know how to use them, read the t&c and perhaps read these forums more where it's been mentioned many times that they are effectively a Mon-Fri bank.

You should also have realistic expectations that if you make a first major withdrawal it's potentially going to involve additional security checks, just like it would with many banks.

BlackthornU

BarGin said:

BarGin said:

I made my first major withdrawal from Al Rayan yesterday afternoon. It was a few 000's to my Chase current account. It's still not arrived. I made a small withdrawal to the same account last week which arrived within 20 minutes.

I'm beginning to think I made a big mistake putting a lot of money in Al Rayan. Just spent 53 minutes holding on their phone line, listening to some awfully depressing music, only to be cut off before I got to speak to anyone. And my withdrawal still hasn't arrived!

Be prepared to answer phone calls from unknown numbers (some people just don't answer). I did a test withdrawal of £5 which went through very quickly then requested £8K later the same day and it didn't go through. I did get a call from them later that afternoon to confirm security etc and then transfer went through.