The Top Easy Access Savings Discussion Area

kaMelo

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.

The rate is not shown in the app, no virgin account shows the interest rate in the app, it's only shown in online banking.
Choose the account you want and then click the arrow next to "more" .
Right at the bottom It is showing at 3% in online banking. 




And for good measure, despite it being described as Issue 2 in the KPI, 



it shows as Exclusive Flexi Isa1 in online banking.
 



Confusing?  Of course, its Virgin Money

Grouchy

Apologies if this is in the wrong section, but didn't want to start a new thread needlessly.

Yorkshire BS states on its Internet Saver Plus account:

'For security reasons, online withdrawals are not available for the first 14 days after your account has been opened. After 14 days withdrawals can be made from your account at any time on condition that there are sufficient cleared funds in your account and that you maintain the minimum balance of £1.'

Does this mean every account you open with them (even if you already have an account operating normally) is subject to this condition?  I'm thinking the answer is yes, but wanted to check as I've not come across this before.

Thank you.

chris_the_bee

Grouchy said: Apologies if this is in the wrong section, but didn't want to start a new thread needlessly. Yorkshire BS states on its Internet Saver Plus account: 'For security reasons, online withdrawals are not available for the first 14 days after your account has been opened. After 14 days withdrawals can be made from your account at any time on condition that there are sufficient cleared funds in your account and that you maintain the minimum balance of £1.' Does this mean every account you open with them (even if you already have an account operating normally) is subject to this condition? I'm thinking the answer is yes, but wanted to check as I've not come across this before. Thank you.


 Yes, it applied to every account with me.

alternate

cricidmuslibale 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.

Whilst I don't disagree with you overall here, I think it's only fair to Coventry Building Society to point out that they're also not increasing their non-fixed mortgage rates until December 1.

a fair point, maybe I was a bit hasty thinking the worst of them.

MiserlyMartin

So here we go again. Who will be the first out of the blocks to raise their accounts by the full 0.75%. I suspect most will wait 3-4 weeks before doing anything. Let's face it, we are now only getting the rises 2 months after last rise to be properly passed on. Al Ryan is now at 2.81%  - Just doing a small increase before they are forced to do more after the big boys raise later.

These Banks and BS really are taking UK savers for mugs

soulsaver

@kaMelo thanks for your help to find something in the VM shambles that vaguely confirms I got the account I applied for.
Hopefully it'll be worth it..

callum9999

MiserlyMartin said:

So here we go again. Who will be the first out of the blocks to raise their accounts by the full 0.75%. I suspect most will wait 3-4 weeks before doing anything. Let's face it, we are now only getting the rises 2 months after last rise to be properly passed on. Al Ryan is now at 2.81%  - Just doing a small increase before they are forced to do more after the big boys raise later.

These Banks and BS really are taking UK savers for mugs

No, a disturbingly high number of UK savers just don't understand how banks and the BOE rate works.

If a bank already has enough deposits to cover their needs then they'd be pretty stupid to voluntarily decide to pay more than they need to to borrow it from you. There's absolutely no rational reason whatsoever for savings accounts to increase their rates by 0.75% simply because the BOE rate increased by 0.75%.

cricidmuslibale

MiserlyMartin said:

So here we go again. Who will be the first out of the blocks to raise their accounts by the full 0.75%. I suspect most will wait 3-4 weeks before doing anything. Let's face it, we are now only getting the rises 2 months after last rise to be properly passed on. Al Ryan is now at 2.81%  - Just doing a small increase before they are forced to do more after the big boys raise later.

These Banks and BS really are taking UK savers for mugs

I think I can perhaps answer the question in your second sentence above. Ecology Building Society is raising the interest rates this coming Monday 7th November on all its saving accounts (both those that are available and those that are not currently available) by at least 0.75% and by as much as 1.00% in the case of its cash ISAs!

soulsaver

soulsaver said:

@kaMelo thanks for your help to find something in the VM shambles that vaguely confirms I got the account I applied for.
Hopefully it'll be worth it..

Just to add to the shambles- tried a test payment earlier... app 'not available', on line not working.. FGS
Now... when I put FGS you know what I mean...

Band7

soulsaver said:

soulsaver said:

@kaMelo thanks for your help to find something in the VM shambles that vaguely confirms I got the account I applied for.
Hopefully it'll be worth it..

Just to add to the shambles- tried a test payment earlier... app 'not available', on line not working.. FGS
Now... when I put FGS you know what I mean...

Friday night is often mainenance night. May be they had scheduled maintenance 
.