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Oh I don't know. I've been using the account since Oct 2020 and it's always been about 0.05% behind the direct ratesI'm a happy bunnyFinancial tartery, that's what really pays.Can't disagree with you there though0
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soulsaver said:ASL1 said:Do we reckon Al Rayan will up their rate soon to match Coventry's 3.25% Limited Access Saver (Online) 6 or even the upcoming Yorkshire BS Loyalty 3.5% on 17th Jan?
The Yorkshire Loyalty is NLA, so that won't bother them... And there's a rumour that the Cov ac is about to go NLA, too.1 -
Back to Monmouthshire's Premium Instant account. I have just checked in the online banking and they have sent me a secure message saying that they have refused to let me make any withdrawal that will take the balance to below £25k, but will let me close the account to access the funds.
I have replied by saying that the Ts&Cs state that there is a £25k minimum balance to open the account but that the Ts&Cs also state:So if I'm not mistaken my withdrawal of £25000 should be permitted but the interest rate on the remaining funds would reduce from 3% to 0.05%.- If a withdrawal reduces the account balance to less than £25,000, you will receive a variable interest rate of 0.05% AER/Gross, from the date of the withdrawal until the account is returned to the minimum balance.
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Bridlington1 said:
Loyalty only ever pays if you define loyalty to mean opening a savings account with a minimal balance (usually £1) so that you can get hold of higher rate loyalty products/other perks later down the line.
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phillw said:Bridlington1 said:
Loyalty only ever pays if you define loyalty to mean opening a savings account with a minimal balance (usually £1) so that you can get hold of higher rate loyalty products/other perks later down the line.2 -
Bridlington1 said:Back to Monmouthshire's Premium Instant account. I have just checked in the online banking and they have sent me a secure message saying that they have refused to let me make any withdrawal that will take the balance to below £25k, but will let me close the account to access the funds.
I have replied by saying that the Ts&Cs state that there is a £25k minimum balance to open the account but that the Ts&Cs also state:So if I'm not mistaken my withdrawal of £25000 should be permitted but the interest rate on the remaining funds would reduce from 3% to 0.05%.- If a withdrawal reduces the account balance to less than £25,000, you will receive a variable interest rate of 0.05% AER/Gross, from the date of the withdrawal until the account is returned to the minimum balance.
That's how I read it but happy to be corrected. Careful reading of the terms would be needed (anyone got a link?)1 -
happybagger said:Bridlington1 said:Back to Monmouthshire's Premium Instant account. I have just checked in the online banking and they have sent me a secure message saying that they have refused to let me make any withdrawal that will take the balance to below £25k, but will let me close the account to access the funds.
I have replied by saying that the Ts&Cs state that there is a £25k minimum balance to open the account but that the Ts&Cs also state:So if I'm not mistaken my withdrawal of £25000 should be permitted but the interest rate on the remaining funds would reduce from 3% to 0.05%.- If a withdrawal reduces the account balance to less than £25,000, you will receive a variable interest rate of 0.05% AER/Gross, from the date of the withdrawal until the account is returned to the minimum balance.
That's how I read it but happy to be corrected. Careful reading of the terms would be needed (anyone got a link?)
https://www.monbs.com/products/premium-instant-account/
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Marcus has been quiet for a while.
It's about time he pushed the boat out and gave us a little boost.
My 1p is looking very lonely.😏
My other accounts are doing OK tho and nice to get the Coventry intrest boost today.0 -
Bridlington1 said:happybagger said:Bridlington1 said:Back to Monmouthshire's Premium Instant account. I have just checked in the online banking and they have sent me a secure message saying that they have refused to let me make any withdrawal that will take the balance to below £25k, but will let me close the account to access the funds.
I have replied by saying that the Ts&Cs state that there is a £25k minimum balance to open the account but that the Ts&Cs also state:So if I'm not mistaken my withdrawal of £25000 should be permitted but the interest rate on the remaining funds would reduce from 3% to 0.05%.- If a withdrawal reduces the account balance to less than £25,000, you will receive a variable interest rate of 0.05% AER/Gross, from the date of the withdrawal until the account is returned to the minimum balance.
That's how I read it but happy to be corrected. Careful reading of the terms would be needed (anyone got a link?)
https://www.monbs.com/products/premium-instant-account/2 -
happybagger said:Bridlington1 said:Back to Monmouthshire's Premium Instant account. I have just checked in the online banking and they have sent me a secure message saying that they have refused to let me make any withdrawal that will take the balance to below £25k, but will let me close the account to access the funds.
I have replied by saying that the Ts&Cs state that there is a £25k minimum balance to open the account but that the Ts&Cs also state:So if I'm not mistaken my withdrawal of £25000 should be permitted but the interest rate on the remaining funds would reduce from 3% to 0.05%.- If a withdrawal reduces the account balance to less than £25,000, you will receive a variable interest rate of 0.05% AER/Gross, from the date of the withdrawal until the account is returned to the minimum balance.
That's how I read it but happy to be corrected. Careful reading of the terms would be needed (anyone got a link?)
I am in a similar situation as @Bridlington1. I have raised a complaint as their T&Cs are at best unclear, at worst underhand. As I am less than happy with this, I will not deposit £25k, and I have asked them to close my account. Especially since I can get 3% with truly instant access at CHIP, which can also be opened in a couple of minutes rather than in 6+ weeks.1
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