Club Lloyds & BoS Vantage Interest Rates Dropping

colsten

surreysaver wrote: »

Because I already have a NatWest Savings Builder, so saves more mucking about.

A NatWest Savings Builder saves mucking about? Hmh.

surreysaver wrote: »

I have a flexible offset mortgage at 1.5%, so any surplus cash goes there, which means that it won't contribute to my taxable allowance.

If all spare cash is offset against your mortgage, why are we discussing savings accounts at all?

surreysaver wrote: »

Also not sure if Marcus does Faster Payments or not?

They do, although they can take an hour or two rather than seconds.

surreysaver

colsten wrote: »

If all spare cash is offset against your mortgage, why are we discussing savings accounts at all?

Because my mortgage saves me 1.5%. Savings accounts which pay more than 1.5% therefore earn me money (subject to income tax over my personal savings allowance).
Because it takes one working day to transfer money from my offset mortgage, and its a bit of a faff to transfer money in and out (I cannot do it via an app), I keep a certain amount of money in a normal account (such as BoS which pays 1.5%) in order to transfer to my Santander Account which I keep at a nominal £0 balance whenever direct debits are paid out etc.

swindiff

If Club Lloyds accounts dropped to 0% we would keep them just for the cinema tickets. 18 tickets a year over the 3 accounts we have is worth nearly £200 a year at the cinema we go to.

surreysaver

swindiff wrote: »

If Club Lloyds accounts dropped to 0% we would keep them just for the cinema tickets. 18 tickets a year over the 3 accounts we have is worth nearly £200 a year at the cinema we go to.

I'd keep it for the Club Monthly Saver in a similar vein to my M&S account and my Nationwide Account.