The Top Easy Access Savings Discussion Area

phillw

Rollinghome said:
They are irritated because Santander lack the competence to install better systems, and are understaffed to cope with the number of withdrawals they stop and the number of accounts they block.

They are more interested in saving money, but they are just as bad as everyone else.

CooperSF

Does Gatehouse pay out profit for monthly easy access savers on the first of every month?

t1redmonkey

CooperSF said:

Does Gatehouse pay out profit for monthly easy access savers on the first of every month?

I get mine on the monthly anniversary of when I initially opened the account (which is in the middle of the month).

soulsaver

Sensory said:

soulsaver said:

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.

Rates in the list are AER except Al Rayan's, who pay monthly but only quote a gross interest figure. Just taking their estimated balance after 12 months, 5142.32 / 5000 = an increase of 2.8464%.

At current rates, an AER of 2.84% from another provider would/should not be at the top.

Noted, thanks. It must be unusual for a provider to list a rate that appears less than it's paying. 

kaMelo

Rollinghome said:

Band7 said:

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.

Most people here are aware of why banks do security checks and many have long experience of several banks.  They aren't irritated with Santander because they do checks. 

They are irritated because Santander lack the competence to install better systems, and are understaffed to cope with the number of withdrawals they stop and the number of accounts they block.

Santander are no different to any other bank, as you said this is the consequence of people giving money away then claiming "scam" with cheerleading campaigns by organisations such as 'Which' to make the banks liable as a default position which is essentially what the CRM does
Naturally all banks are now are tightening things up, this is in fact what the regulator expects banks to do. The FCA and FOS consider making life more onerous for everyone with legitimate payments being blocked, in depth questioning of people wishing to move money and all the consequences this brings, acceptable collateral damage.

 Don't blame the banks.

Rollinghome

kaMelo said:

 Don't blame the banks.

As far as I'm aware, no one has blamed "the banks".  All the banks have the same problem, but some deal with it better than others. 

The complaints are overwhelmingly about Santander - which suggests it would be ill-informed to claim that they are "no different to any other bank".

kaMelo

It is also ill informed to claim Santander are somehow worse based only on anecdotal evidence of forum posters, a bit like thinking trust pilot is an accurate representation.


From my own experience Santander has never blocked any payment ever for me, Virgin RBS NatWest and Chase however have, multiple times but without any compilation of data supplied by the banks no accurate interpretation of who is worst can be made.

soulsaver

Drifting....

steveksullivan

kaMelo said:

It is also ill informed to claim Santander are somehow worse based only on anecdotal evidence of forum posters, a bit like thinking trust pilot is an accurate representation.


From my own experience Santander has never blocked any payment ever for me, Virgin RBS NatWest and Chase however have, multiple times but without any compilation of data supplied by the banks no accurate interpretation of who is worst can be made.

My evidence may only be 'anecdotal' .... however:

Santander HAVE blocked my last three large-ish payments - which in itself I dont have a problem with, as I have (frequently ....!) stated on here. However what I DO have a problem with are their wait times to get anything fixed when they do get blocked (and online banking locked out.....). Wait times of well in excess of an hour are unacceptable - as they have acknowledged with gradually increasing compensation payments on each occasion.

I have to say that Virgin have recently rivalled them, having brought out several market leading products and then, obviously 'surprised' by the popularity of the products, not had the staffing levels to cope with the demand,

Again on another thread I have spoken about the fact that they (Virgin) are still quoting three to five day response times to secure messages, while I have three outstanding issues not responded to going back at least 14 days (and longer....)

fourmarks

I sold my house in June and, with Santander as the hub, opened multiple accounts all over the place to spread the equity etc. I got blocked out 5 times in the first 2 weeks which drove me mad as, despite satisfactorily explaining matters to their security department 4 times, the system continued to red flag me. However, after a fortnight they/it seemed to accept that this will be normal activity on this account for the time being, and I've been left in peace ever since, despite continually moving cash around.

I always try and remember that if someone had been trying to steal my cash, and the bank's system stood by and watched, then I would not have been best pleased.