The Top Easy Access Savings Discussion Area

kaMelo

To be fair they wouldn't have printed their own envelopes, that's clearly down to the printing company. However someone should be proof reading them before sending them out.

Zaul22

Zopa seem to have given up. 

A few weeks ago Starling tweeted that they are launching a savings product in December. I'm waiting to see if it's gonna be an instant access or regular saver, or just increasing the rate on their saving/bills pot to a 'still terrible but better than 0.05%' rate. 

soulsaver

Sensory said:

soulsaver said:

Note for the interested: Cov BS 2.85% AER is not much difference to Al Rayan's 2.81% EP as the latter is 'gross', as someone pointed out (quite a bit) earlier. 

Coventry pays exactly the same rate at 2.81% if interest is taken monthly, so in that case the only difference is withdrawal limits. Not sure whether that really places them above Al Rayan despite the quoted AER; if anything, they trade the same position.

My post is highlighting the not-so-obvious near zero difference in interest rate - not comparing any other more obvious aspects of the accounts.  

ForumUser7

Zaul22 said:

Zopa seem to have given up. 

A few weeks ago Starling tweeted that they are launching a savings product in December. I'm waiting to see if it's gonna be an instant access or regular saver, or just increasing the rate on their saving/bills pot to a 'still terrible but better than 0.05%' rate. 

@Zaul22 Any chance that you could link to it please? I have notifications but somehow missed it! I can’t seem to find it. Thank you

Sensory

soulsaver said:

Sensory said:

soulsaver said:

Note for the interested: Cov BS 2.85% AER is not much difference to Al Rayan's 2.81% EP as the latter is 'gross', as someone pointed out (quite a bit) earlier. 

Coventry pays exactly the same rate at 2.81% if interest is taken monthly, so in that case the only difference is withdrawal limits. Not sure whether that really places them above Al Rayan despite the quoted AER; if anything, they trade the same position.

My post is highlighting the not-so-obvious near zero difference in interest rate - not comparing any other more obvious aspects of the accounts.  

I understand, I believe you were referencing the below:

soulsaver said:

Sensory said:

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.

I was highlighting that in the case of monthly interest, there is no difference because Coventry quotes and pays exactly the same rate as Al Rayan at 2.81%. I then provided personal commentary, opining on placement positions, not that it really matters overall, but it may for those who wish to drip-feed.

dcs34

kaMelo said:

To be fair they wouldn't have printed their own envelopes, that's clearly down to the printing company. However someone should be proof reading them before sending them out.

Someone probably noticed but decided it was good enough (got the number and postcode) and certainly not worth junking the envelopes to redo them, or sticker over.

Noneforit999

Section62 said:

Noneforit999 said:

ForumUser7 said:

Band7 said:

happybagger said:

A tradition of having to book an appointment weeks in advance just to open an account, from what people say on here.

For a minute, I thought you were talking about Barclays. They also offer you an appointment several weeks in the future if they can't process your online application for a current account for one reason or another.

Barclays is ridiculous. I opened a current account online, and I want a chequebook. To get my chequebook, I need to give them a copy of my signature - this makes sense. What does not make sense is that it has to be via branch (cannot be via post, email, some kind of document web upload), and it has to be with a booked appointment! The earliest one I could get is late next month… Surely one of the two people who walk around helping people with the machines could literally take the pre-filled signature mandate form from me and put it on the system…at least, that’s how it’d work in any reasonable financial establishment rather than making customers wait 2 months + delivery for a basic chequebook

Blimey, a cheque book is a blast from the past! Haven't seen a personal cheque for about 10 years

Assuming its for business reasons?

I wrote out a personal cheque for £200 last week, and sent it to Monmouthshire Building Society to open a new Christmas Saver bond.

I calculated it gave me the best chance of getting the account open and fully funded in November... hanging around waiting to be able to make a "faster" payment would have taken longer and there was no realistic prospect of the payment reaching them in time to use November's allowance.

I don't yet know whether they got the application and cheque in time, but I do already know that if I'd relied on making a more modern "faster payment" then I'd have missed November for sure.

Cheques are also useful for verifying nominated account ownership where required for easy access account opening.

Interesting, seems some people have use for cheques I was not aware of.

I haven't used one for 10 years, I don't have a cheque book and have opened multiple easy access and fixed savers without needing one but each to their own.

My gran used to send me a cheque every Christmas but half the time I didn't even bother cashing it as the drama of visiting a branch wasn't worth the £20. 

wiseonesomeofthetime

ForumUser7 said:

Zaul22 said:

Zopa seem to have given up. 

A few weeks ago Starling tweeted that they are launching a savings product in December. I'm waiting to see if it's gonna be an instant access or regular saver, or just increasing the rate on their saving/bills pot to a 'still terrible but better than 0.05%' rate. 

@Zaul22 Any chance that you could link to it please? I have notifications but somehow missed it! I can’t seem to find it. Thank you

A tweet from Starling on 1 December 2022 suggests still no confirmed date.

Hi Andrew, thanks for reaching out. We're looking to launch this very soon, but no exact date yet. Keep an eye out on our website for news!

— Starling Bank (@StarlingBank) December 1, 2022

Seems strange that they would not have this in the planner if being launched this month IMO.

happybagger

Is it just me that wants to throw up with the phrase "reaching out"?
Is "contacting us" not correct enough?

Zaul22

wiseonesomeofthetime said:

ForumUser7 said:

Zaul22 said:

Zopa seem to have given up. 

A few weeks ago Starling tweeted that they are launching a savings product in December. I'm waiting to see if it's gonna be an instant access or regular saver, or just increasing the rate on their saving/bills pot to a 'still terrible but better than 0.05%' rate. 

@Zaul22 Any chance that you could link to it please? I have notifications but somehow missed it! I can’t seem to find it. Thank you

A tweet from Starling on 1 December 2022 suggests still no confirmed date.

Hi Andrew, thanks for reaching out. We're looking to launch this very soon, but no exact date yet. Keep an eye out on our website for news!

— Starling Bank (@StarlingBank) December 1, 2022

Seems strange that they would not have this in the planner if being launched this month IMO.

Weirdly they didn't announce it publicly before the launch date. It seems any day in December they are just going to launch it and say 'it's available today'. It was just a woman @them complaining about their lack of savings and they replied saying they are launching one, which ended up being a sideways announcement as the tweets come up when you Google Starling Bank savings account.