The Top Easy Access Savings Discussion Area

pecunianonolet

Santander new rates confirmed. Esaver not in the list so rate will stay at 2.75% and rate for new accounts dropped from 2% further to 1.5%
https://www.santander.co.uk/personal/support/savings-and-investments/changes-to-your-savings-accounts

YBS saying they will increase rates but final detail not yet confirmed. 

Perksy5

callum9999 said:

alternate said:

Announcing straight away that you will increase rates ... but not for almost a month is more than a little bit blatant.

Please don't bother moving your money as we are matching rates - but we want a month to profit off you first,  Thanks.

What do you think the base rate is? Do you think it instantly gives Coventry BS more money that they're now hoarding instead of passing it on?

In fact, why do you think that building societies and banks operate savings accounts at all? If they aren't lending enough money out to cover the increased amount of deposits they're holding, where do you think they would get the money from to pay that interest to you - the magical money tree?

While I can't say I feel bad for multimillion pound businesses, the amount of entitlement you get on this forum can be absurd at times!

People don't seem to understand that there isn't a button you press that magics up rate increases on all their accounts. 

Out side of that, why would they? Most high Street banks' balance sheets are full. They don't need more capital. Their regulatory commitments are met and they have too much to warrant giving savers the rates they want, because they don't *need* to.
Why rush out to push up rates and minimise their margins? Pricing teams will sit tight and wait for one bank to break ranks, announce their move and their competitors will act accordingly.

Want a higher rate? That's where the small, obscure names shine. They need your money, they'll pay for it.

Still feeling particularly vexed about it all? Want to punish a bank? Take away your insurance and lending products you hold with them. Especially mortgages, that's where the money is.

gesdt50

Nick_C said:

kaMelo said:

Virgin's Easy Access Cash ISA Exclusive Issue 2 is now offering 3%. I realise this isn't a simple easy access account as it has ISA status and all the restrictions that come with it but it's significant in that an easy access ISA is offering better rates than any pure easy access savings account currently available.  When was the last time that happened.

Earlier this year.  Skipton offered a flexible tracker ISA (no longer available) that pays BOEBR + 0.35%, so 2.6% currently and 3.35% from 14 November.  Sadly, the tracker only lasts a year, but it is the best easy access account I have currently.

Wondering how much more are the BOE going to put up interest rates as the media is saying theres more rises to come; other banks will probably follow Virgin with offerings, so if one goes for this now and as people are only allowed 1 ISA a tax year; there may be a better rates in the near futurre as other banks come up with product offerings

clowning

I thought I read yesterday that the BoE thought rates would peak at 4.5% next year. I'm not certain though.
I have just opened the VM easy access ISA and just put a bit of available cash in to see what happens in the next week or so. 

soulsaver

scottishstu said:

soulsaver said:

ToTP updated with Tandem, Atom, RCI. Thanks to informers...

For convenience/reference I've introduced a new practice: Drop Offs will appear with links and rates in the trail.
Note these 'Drop Off' posts won't be maintained, which shouldn't cause a problem?   

I don't post much - but just wanted to say many thanks for maintaining the Top of The Pots thread (and the informers!), I'm finding it really useful at the moment as I ponder my next savings move!

Thanks, very kind, much appreciated  

eta typo..

gesdt50

Does anyone know when Saga and Marcus allowed the 2.5% ISA?

southone

the rate changed to 2.5% on 1st nov i seem to remember

badger09

gesdt50 said:

Nick_C said:

kaMelo said:

Virgin's Easy Access Cash ISA Exclusive Issue 2 is now offering 3%. I realise this isn't a simple easy access account as it has ISA status and all the restrictions that come with it but it's significant in that an easy access ISA is offering better rates than any pure easy access savings account currently available.  When was the last time that happened.

Earlier this year.  Skipton offered a flexible tracker ISA (no longer available) that pays BOEBR + 0.35%, so 2.6% currently and 3.35% from 14 November.  Sadly, the tracker only lasts a year, but it is the best easy access account I have currently.

Wondering how much more are the BOE going to put up interest rates as the media is saying theres more rises to come; other banks will probably follow Virgin with offerings, so if one goes for this now and as people are only allowed 1 ISA a tax year; there may be a better rates in the near futurre as other banks come up with product offerings

The Virgin Money Easy Access Cash ISA which was being discussed is just that - easy access, and flexible to boot. So if a better rate comes along, people are free to transfer to that better rate, provided they keep all current year subscriptions together of course.  

soulsaver

badger09 said:

gesdt50 said:

Nick_C said:

kaMelo said:

Virgin's Easy Access Cash ISA Exclusive Issue 2 is now offering 3%. I realise this isn't a simple easy access account as it has ISA status and all the restrictions that come with it but it's significant in that an easy access ISA is offering better rates than any pure easy access savings account currently available.  When was the last time that happened.

Earlier this year.  Skipton offered a flexible tracker ISA (no longer available) that pays BOEBR + 0.35%, so 2.6% currently and 3.35% from 14 November.  Sadly, the tracker only lasts a year, but it is the best easy access account I have currently.

Wondering how much more are the BOE going to put up interest rates as the media is saying theres more rises to come; other banks will probably follow Virgin with offerings, so if one goes for this now and as people are only allowed 1 ISA a tax year; there may be a better rates in the near futurre as other banks come up with product offerings

The Virgin Money Easy Access Cash ISA which was being discussed is just that - easy access, and flexible to boot. So if a better rate comes along, people are free to transfer to that better rate, provided they keep all current year subscriptions together of course.  

Check your KPI document after your account has opened: I can't see anywhere in the app that confirms the rate on the  account?

But the email welcoming you (me), says there are 7 attachments... I only got 2; and more importantly, one, the Key Product Info document, says 2.25%..not 3%. And to confuse things more, calls it 'Exclusive Flexi ISA2' in the app. and 'Easy Cash Isa2' in the KPI.

Have I got a different product than I applied for?

Shambolic. I've messaged them.

RG2015

soulsaver said:

badger09 said:

gesdt50 said:

Nick_C said:

kaMelo said:

Virgin's Easy Access Cash ISA Exclusive Issue 2 is now offering 3%. I realise this isn't a simple easy access account as it has ISA status and all the restrictions that come with it but it's significant in that an easy access ISA is offering better rates than any pure easy access savings account currently available.  When was the last time that happened.

Earlier this year.  Skipton offered a flexible tracker ISA (no longer available) that pays BOEBR + 0.35%, so 2.6% currently and 3.35% from 14 November.  Sadly, the tracker only lasts a year, but it is the best easy access account I have currently.

Wondering how much more are the BOE going to put up interest rates as the media is saying theres more rises to come; other banks will probably follow Virgin with offerings, so if one goes for this now and as people are only allowed 1 ISA a tax year; there may be a better rates in the near futurre as other banks come up with product offerings

The Virgin Money Easy Access Cash ISA which was being discussed is just that - easy access, and flexible to boot. So if a better rate comes along, people are free to transfer to that better rate, provided they keep all current year subscriptions together of course.  

Check your KPI document after your account has opened: I can't see anywhere in the app that confirms the rate on the  account?

But the email welcoming you (me), says there are 7 attachments... I only got 2; and more importantly, one, the Key Product Info document, says 2.25%..not 3%. And to confuse things more, calls it 'Exclusive Flexi ISA2' in the app. and 'Easy Cash Isa2' in the KPI.

Have I got a different product than I applied for?

Shambolic. I've messaged them.

Mine is called issue 1 online but issue 2 in the app. But I have a recent email from a couple of weeks back that refers to it as issue 2.

By the way, it was originally opened in 2020 and fortunately I kept it alive with £1.

Shambolic, yes, but great rate.