The Top Easy Access Savings Discussion Area

Malchester

I've had an account with Al Rayan but didng stay long as I had all sorts of issues with them but this was nothing to do with being Sharia bank but their incompetence. On the other hand I  have accounts with Gatehouse Bank who are Sharia and, I have them to be excellent. Customers will have issues with all banks from time to time, Sharia or otherwise. And there is always the get out of withdrawing if expected profit is not met and being paid expected profit up to withdrawal.

soulsaver

No longer available, 'at this time':
Aldermore E. A. 2.75% (11/11) Easy Access Savings Accounts, Instant Access Savings Accounts - Aldermore Bank 

Thnx @t1redmonkey

Grouchy

Wonder if anyone who is more up to date will have an idea when the proposed increases in YBS EA rates?  On the website it just says (to paraphrase) they are in the pipeline. I know with other institutions people have learned in advance of the date of BofE related increases. 

Thanks

jak22

They are being slow. I think for 1/9 changes the PDF came out around 16/8 and for 5/10 increases it was 22/9 so it must be due soon. Coventry managed to release their 1 month's notice pretty soon after the last BoE - either a great guess at 0.75%, some fast typing, or a PDF prepared for each outcome.

phillw

intalex said:
How does it work with fixed rate accounts?

Can they legally reduce the expected profit with a nominal notice period that is less than the remaining term?

All the fixed terms I've seen, the T&C say they give you notice (for example 30 days) of the expected profit being reduced and then you can decide to close the account and have all the money returned or leave it there. You'll still get the original expected profit up until the date it's reduced whether you decide to withdraw or not.

For easy access the rate will go up and down and they will email you maybe even the same day and you can decide whether to put more in or take more out. Again, the expected profit accrues at the old rate until the date it changes.

Zaul22

Once again waiting for Zopa to go up now they are 14th on the 'top 10' as the list writer doesn't want to consider them as not making the cut. Hopefully tomorrow but most of the competition are withdrawing their accounts. Otherwise Principality is starting to look like a good option. 

mebu60

Grouchy said:

Wonder if anyone who is more up to date will have an idea when the proposed increases in YBS EA rates?  On the website it just says (to paraphrase) they are in the pipeline. I know with other institutions people have learned in advance of the date of BofE related increases. 

Thanks

Gave up waiting myself, especially after Aldermore DA 3.0%. YBS now £1. Balance added to Aldermore £1. 

Bridlington1

Grouchy said:

Wonder if anyone who is more up to date will have an idea when the proposed increases in YBS EA rates?  On the website it just says (to paraphrase) they are in the pipeline. I know with other institutions people have learned in advance of the date of BofE related increases. 

Thanks

I've now got most of my savings at 3% or above now that I've opened Aldemore at 3%, Virgin exclusive cash ISA at 3% and Barclays at 5%. If YBS beat 3% I'll be moving my money about again.

alternate

I wonder how many times the banks have actually activated the terminate early clause on the fixed rates.  Not sure the PR hit would be worth the savings to them.

[Deleted User]

soulsaver said:

No longer available, 'at this time':
Aldermore E. A. 2.75% (11/11) Easy Access Savings Accounts, Instant Access Savings Accounts - Aldermore Bank 

Thnx @t1redmonkey

Nearly three hours since soulsaver informed us the Aldermore account had been withdrawn yet the main site still shows them as their top pick, even though if you click on the link it shows it withdrawn. Poor show.

Oh, and before anybody says anything, I run a website myself, by myself and any alterations are applied as soon as I become aware of them. It's not hard.