The Top Easy Access Savings Discussion Area

[Deleted User]

Well, I'm sticking by Super Zopa for now. They immediately raised their rates, there is no minimum amount, you get the interest monthly and you can withdraw money as many times as you like, so in my opinion, today, 19/12/22, they are the best bet.

Of course, tomorrow, thing may change. That's all part of the fun. Goodnight my pedantic friends.

soulsaver

Just an observation relating to ToTP list :

Re ToTP list.

Yorkshire BS Rainy Day ac Dble Access* 3.0% to £5k, 2.5%> £5K (09/12) View our Easy Access Savings Accounts | Savings | YBS 

It's listed in the 'Smaller Balances' for it's good rate on the first £5k. However as the balance on deposit increases above £5k, the overall/aggregated rate declines.

So a £45k balance would earn 2.555% pa and could qualify at the bottom end of the main list, depending on an opinion of where the top limit of a 'smaller balance' falls. 

The issue doesn't crop up often, so I'm not actually trying to resolve it and I didn't want to tempt a chat in the 'no chat' thread - but I wanted to link to the observation.

* Thnx @ircE

Bridlington1

Received my Monmouthshire BS Premium Instant Issue 3 passbook today and registered it for online banking. Looks like I've enough time to fund it with £25k them withdraw all but 1p when Coventry's limited access saver hits 3.25% next month. Then it will be a case of leaving the account open with a minimal balance to see what happens with the interest rate over time.

dosh37

Am I right in thinking that Monmouthshire BS Premium Instant Issue 3 pays 3% interest? That is impressive.

With inflation at 10% that means I only lose 7% :-)

How do apply?

Bridlington1

dosh37 said:

Am I right in thinking that Monmouthshire BS Premium Instant Issue 3 pays 3% interest? That is impressive.

With inflation at 10% that means I only lose 7% :-)

How do apply?

You are correct but you've got to go into branch to open it. You used to be able to apply online and by post but due to unprecedented demand they restricted the opening criteria shortly after it was launched.

AmityNeon

dosh37 said:

Am I right in thinking that Monmouthshire BS Premium Instant Issue 3 pays 3% interest? That is impressive.

With inflation at 10% that means I only lose 7% :-)

How do apply?

3% on the whole balance but only when the balance is at least £25,000 (otherwise 0.05%). You should make the most of a branch appointment if you can and open their Christmas Saver as well. If not, Coventry BS is increasing the rate on their Limited Access Saver to 3.25% on 06 Jan 2023, but it's worth opening one now in case it's withdrawn.

Wheres_My_Cashback

Bridlington1 said:

dosh37 said:

Am I right in thinking that Monmouthshire BS Premium Instant Issue 3 pays 3% interest? That is impressive.

With inflation at 10% that means I only lose 7% :-)

How do apply?

 but due to unprecedented demand they restricted the opening criteria shortly after it was launched.

I would have put it another way...that due to highly inefficient account opening processes they've had to restrict opening criteria

It could go two ways for future accounts i suppose, postcode restrictions, society members only or god forbid they get into the 21st century with technology/process. I suspect the former though.

Even still, no doubt the staff are doing what they can to move things along for everyone and clear the backlog before Xmas.

Patrington

Chase Savings rising to 2.7 on 4/1/23

ColdIron

Many accounts pay better than Chase without waiting a couple of weeks

https://forums.moneysavingexpert.com/discussion/6392978/top-easy-access-acs-ranked-top-of-the-pots-no-chat/p1

Nick_C

ColdIron said:

Many accounts pay better than Chase without waiting a couple of weeks

https://forums.moneysavingexpert.com/discussion/6392978/top-easy-access-acs-ranked-top-of-the-pots-no-chat/p1

They do.  But how many of them allow you to set up Direct Debits, Standing Orders, multiple future dated scheduled payments, and send payments out immediately, while paying 2.7% monthly interest and giving you market rates on foreign currency transactions from your linked current account?