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The Top Easy Access Savings Discussion Area

18448458478498502003

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  • soulsaver
    soulsaver Posts: 6,734 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    As higher rate opportunities get restricted, maybe worth a reminder: Ford Money 2.5% wef 19/10 initially existing customers only - so maybe grab it now with £1 - keeping options open. It currently says 1.95% but Ford guarantees it offers the same rates for existing customers, so you will automatically get the 2.5%. Flexible Saver pre-application checklist | Ford Money
  • soulsaver
    soulsaver Posts: 6,734 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    soulsaver said:
    As higher rate opportunities get restricted, maybe worth a reminder: Ford Money 2.5% wef 19/10 initially existing customers only - so maybe grab it now with £1 - keeping options open. It currently says 1.95% but Ford guarantees it offers the same rates for existing customers, so you will automatically get the 2.5%. Flexible Saver pre-application checklist | Ford Money
    Well... assuming it proceeds with the 2.5%...
  • Hello, I'm a newbie,  I have 20k (from inheritance) to put somewhere, cash ISA at Lloyds have virtually no interest but I know are tax free. Would I be better off putting in a one year fixed bond? Savings account? Gilt? I realise those options are subject to tax. Thank you (definitely not putting in my pension)
  • Sg28
    Sg28 Posts: 451 Forumite
    Third Anniversary 100 Posts Name Dropper
    MissMCav said:
    Hello, I'm a newbie,  I have 20k (from inheritance) to put somewhere, cash ISA at Lloyds have virtually no interest but I know are tax free. Would I be better off putting in a one year fixed bond? Savings account? Gilt? I realise those options are subject to tax. Thank you (definitely not putting in my pension)

    Assuming you're a basic rate tax payer earning over 18k a year. You have 1k year tax free savings allowance.

    20k in a top 1 year fix at 4% (slightly higher now maybe?) Would pay £800 per year. So unless you have taxable savings elsewhere ISAs are not necessary. 


    Ex Sg27 (long forgotten log in details)

    Massive thank you to those on the long since defunct Matched Betting board.
  • eskbanker
    eskbanker Posts: 38,022 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    MissMCav said:
    Hello, I'm a newbie,  I have 20k (from inheritance) to put somewhere, cash ISA at Lloyds have virtually no interest but I know are tax free. Would I be better off putting in a one year fixed bond? Savings account? Gilt? I realise those options are subject to tax. Thank you (definitely not putting in my pension)
    Welcome to the forum, but worth familiarising yourself with the etiquette - this thread is really for discussion of the features of the easy access accounts available on the market, so if you have a specific question about what type of account might be suitable for your own personal circumstances then it would be better to start your own thread.
  • soulsaver
    soulsaver Posts: 6,734 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Aldermore  Double Access Account Up to 2.15% AER* thnx @southone

    Added in ToTP.
  • Thumbs_Up
    Thumbs_Up Posts: 965 Forumite
    500 Posts First Anniversary Name Dropper Photogenic
    Many people just leave their savings in their current account earning 0%. I think people on here often vastly overestimate the financial knowledge of the average person!

    There will certainly be an outflow, but a large proportion won't be monitoring competing rates at all, let alone try chasing them.

    Well, well, well, will wonders never cease. Got my brother at the very last few hours to go to open up the Santander 2.75% account. He had a current account with them, so took less then 5 minutes to open and transfer 85k.

    So, from earning next to nothing, he now should get £2337 a year in interest. Next job is to get him to move 100k from Cahoot earning 0.1 % to a decent annual fixed bond from a different bank!


     





  • Sg28
    Sg28 Posts: 451 Forumite
    Third Anniversary 100 Posts Name Dropper
    Thumbs_Up said:
    Many people just leave their savings in their current account earning 0%. I think people on here often vastly overestimate the financial knowledge of the average person!

    There will certainly be an outflow, but a large proportion won't be monitoring competing rates at all, let alone try chasing them.

    Well, well, well, will wonders never cease. Got my brother at the very last few hours to go to open up the Santander 2.75% account. He had a current account with them, so took less then 5 minutes to open and transfer 85k.

    So, from earning next to nothing, he now should get £2337 a year in interest. Next job is to get him to move 100k from Cahoot earning 0.1 % to a decent annual fixed bond from a different bank!


     





    It does always suprise me how people with so much money can be so financially illiterate. 

    My boss is paying £700 per month nore than necessary on 2 mortgages because he is on the svrs and has been for over 15 years.
    Ex Sg27 (long forgotten log in details)

    Massive thank you to those on the long since defunct Matched Betting board.
  • Yorkie006
    Yorkie006 Posts: 277 Forumite
    Seventh Anniversary 100 Posts Photogenic Name Dropper
    Sg28 said:

    It does always suprise me how people with so much money can be so financially illiterate. 


    People with a lot of money don't notice if they don't get a few hundred £ of interest (it's pocket change to them). People with little money count every penny.
    That's the only explanation I can think of. I'm trying to get the most out of the money I have but with the % rates changing so often lately, it's hard to keep up. But I still change accounts every few months to the best one available at the time (I stick to easy access only as it's my 'emergency' fund).
    I recently opened Cynergy acc. at 2.75%, still waiting for the log in details before I move the money there though.
  • k_man
    k_man Posts: 1,636 Forumite
    1,000 Posts Second Anniversary Name Dropper
    k_man said:
    AndyTh_2 said:
    k_man said:
    How quick are payments made into Cynergy Easy Access shown in the account?

    I made 2 payments (both small) over the weekend via faster payments, and neither are showing.

    I know savings accounts often take longer to show deposits, but the details from Cynergy state:

    If your Bank uses the 'Faster Payment' service your payment should arrive within minutes.

    suggesting there isn't the usual saving account clearing delay.
    Note: this is a newly opened account.
    I'm also expecting a payment I made on the weekend as well. This is abnormal as worst case for them is 11am the next working day. I was wondering how much patience I have before I call them. Otherwise I was thinking the source bank is holding it back, but since you've also mentioned this I'm more expecting it a Cynergy issue
    Email confirmation of deposits received at around 3pm today, and now showing online (as an aside, what a faff to login if you usually use just a mobile phone for both apps and online banking!)

    So looks like delays at their side, maybe inundated with new accounts.
    I did see a message on one of the banks websites about delays to payments due to maintenance, but can't find it again now, so may have been for Barclays instead.


    Update:
    Subsequent payments cleared within a couple of hours.
    Also using the website is much easier once the Authenticator is setup, and clicking on the image actually launches the authenticator app.
    No need for 2 devices each time I need to access the account 👍
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