The Top Easy Access Savings Discussion Area

Band7

Steve_xx said:

Yes I see. But, you are limited to a single nominated account with Cynergy, are you not?

You can have different nominated accounts on different Cynergy accounts. So all you need is open a second Cynergy savings account, with a different nominated account. You could also try a Cynergy current account, though when I recently wanted to apply for one, their application form didn't work.

Example: 
- Cynergy A with Santander
- Cynergy B with bank XYZ
- Deposit into Cynergy A
- Transfer from Cynergy A to Cynergy B (instant)
- withdraw from Cynergy B to bank XYZ

Something at the back of my mind says there is a 7-10 day block on withdrawals to newly set up to a nominated account.

However, I doubt whether this fixes the issue of making larger payments. All banks have already increased their checks, and more is likely to come because they are now increasingly on the hook for refunds* to people who claim they have been scammed. Don't be mad with the banks, be mad with the fraudsters and the gullible folk who are still falling for scams.

* I can't post links. Google Payment Systems Regulator App Scams

phillw

ericlered7 said:
Yes I had the same trouble with them earlier this year after a fixed rate account with Atom matured into my Santander 123. Took me 3 or 4 phone calls before I could move my money out of it, horrendous. They must havew asked me at least 15 to 20 times if I was being coerced into the transaction.

I did it in 1 call.

I don't mind the time, but the questioning made me wonder if my phone has been hacked and scammers have made it display my account details incorrectly & showed my test transaction going in etc.

It's made worse when the recipient doesn't support confirmation of payee (like Al Rayan). But then maybe scammers will find a way of making it look like COP has succeeded to at some point.

typistretired

TheLitterMan said:

Marcus now paying 2.50% (including the 0.25% bonus that's 'fixed for 12 months' but seems like a permanent offer to me).

Marcus app still down good job I don’t put all my eggs in one basket 

cwep2

Steve_xx said:

rallycurve said:

Steve_xx said:

veryintrigued said:

Steve_xx said:

veryintrigued said:

searching4bestrates said:

Has anyone else had a horrible experience trying to withdraw their savings from Santander's eSaver?

My withdrawals were blocked - going back into the current account with another provider that funded the savings account in the first place! - and I had to phone their "helpline" - 30 minutes later I finally spoke to someone and it then took nearly an hour of invasive security checks and being on hold for them to unlock my account. I'm frightened to try any more withdrawals today in case the same nightmare occurs again.

Their rate is good (albeit there are now better rates), but the customer service and ease of use of the account is horrific and makes a mockery of the term "easy access". I wouldn't recommend the Santander eSaver account to anyone.

Yep.

Blocked my account access by both app and website.

Issue compounded by:

The telephone number they give being limited hours.

The account supposedly being easy access.

The external account (in my name) already being one that my Santander current account has been linked to for years and has many payments each way.  Why more institutions don't allow you to choose an external account already used by another of your accounts with them is poor.  Or, at least, reflect it in any fraud algorithm.

Upon unlocking the accounts the four figure sum was then transferred twice.

Poor, very poor.

I've now moved a not insignificant sum to Cynergy as I don't trust the very poor Santander algorithm to hit me again.

Cynergy doesn't fix the problem as there's only one nominated account linked to it isn't there?

It absolutely fixes the problem.

I've been able to transfer money with no issues to and from Cynergy, to my external account, for years.

Having a lump in there mitigates the risk of Santanders aggressive algorithms.

Yes I see. But, you are limited to a single nominated account with Cynergy, are you not?

Yes, I think so but if that guarantees that your account is not going to be randomly blocked creating lots of hassle to unblock it, I'd definitely prefer that option too.

It seems that Santander can block your payments and account even if you only have one nominated account on your name and that is worrying to me

But the problem generally arises when you want to make a payment to a new payee, maybe of a large amount to satisfy the setup of a new fixed bond. If you have your money in Cynergy, then you might have to port it back to Santander to make the payment into the new bond. So I can't see how you can avoid Santander blocking the outflow payment to the new bond.

Have used Santander as main current account for many years now and regularly move money around to best savings accounts and various notice accounts/bonds. 

My account will get blocked after around 10% of large transfers (10k+). It doesn’t seem affected by how long they’ve been set up, I’ve had my access blocked for transferring to accounts that have had payments set up for years with over 20 payments to and from.

Of course new ones more likely to trigger it, but despite the fact I make many transfers as I have 1yr bonds maturing most months, as well as notice accounts maturing regularly also, I still get blocked regularly, at least once every 6 weeks and sometimes twice in a week. 

It’s just the system they use, and I can live with it. The fact I can transfer up to 100k a day means any 85k sized amounts can be moved without losing a days interest and most banks limit you to 25 or 50k which I would find more annoying. 

I’d love to find a bank that understood my habits and therefore blocked it less often but I’m yet to find one that does so. I have also tried HSBC/Lloyds/NatWest/Monzo/Metro bank/Nationwide/Halifax.  

soulsaver

@Thumbs_Up
 "That Marcus account should be slotted in at number 3 only for the fact you get instant access to your cash, and we all like that."

I take your point regarding position, although specifically because the Ford & YBS isn't universally available. 

But take my point please - this IS 'chat'.

If people have an opinion about where something is, where it should be, or you want to discuss positions or attributes in the list - do it in this thread please - I'll see it.

If you want to be sure I'll see it, use @soulsaver or pm me.

TIA
Ed

Futuristic

typistretired said:

TheLitterMan said:

Marcus now paying 2.50% (including the 0.25% bonus that's 'fixed for 12 months' but seems like a permanent offer to me).

Marcus app still down good job I don’t put all my eggs in one basket 

iPhone app works fine.

financialbliss

Is SAGA 2.50% useful for anyone?

https://www.sagasavings.co.uk/uk/en/savings?prd=os&chl=af&schl=kent&cid=aggmfacts&plc=sa&sit=mf

soulsaver

financialbliss said:

Is SAGA 2.50% useful for anyone?

https://www.sagasavings.co.uk/uk/en/savings?prd=os&chl=af&schl=kent&cid=aggmfacts&plc=sa&sit=mf

It's Marcus in another 'brand' and share the same bank licence - so if your using both note the FSCS cover is shared.

oz0707

Just had email off saga upto 2.5% now with bonus. Too little too late moved elsewhere

Futuristic

There is no point moving with these announcements, they will all be behind in a week or two.