Negotiating lower platform fee with Hargreaves Lansdown

Brian65

sebtomato wrote: »

4) HL short term saving account rate (at 1.25%)

I'm getting 1.5% with Marcus, and having my cash with a separate institution to my trading platforms spreads risk.
So I prefer to do it that way.
But 1.25% looks great for a trading platform and astonishing for HL

sebtomato

Brian65 wrote: »

I'm getting 1.5% with Marcus, but 1.25% looks great for a trading platform and astonishing for HL

Yes. In absolute terms, 1.25% in not great. However, relative to other savings account, and with interests calculated daily, it's a good way to get some level of interest on some money being held/awaiting to be invested.

ColdIron

Coventry BS at HL is 1.20% AER and 1.19% gross

Thrugelmir

sebtomato wrote: »

Yes. In absolute terms, 1.25% in not great. However, relative to other savings account, and with interests calculated daily, it's a good way to get some level of interest on some money being held/awaiting to be invested.

Do HL charge their % on cash deposits held?

newatc

Thrugelmir wrote: »

Do HL charge their % on cash deposits held?

No. The advantage of their active savings, as I see it, is although you are often don't get the highest rate for the time you are looking to fix, it saves you going through the "new customer" procedure of new (to you) banks.

ColdIron

Thrugelmir wrote: »

Do HL charge their % on cash deposits held?

No, they'll pay you a few tenths of a percent on cash held within the various accounts although you can't use Active Savings for that cash

https://www.hl.co.uk/charges-and-interest-rates

ivormonee

I've just posted on this on another thread as it was relevant to both. To avoid duplication I'll just put a link to it here - https://forums.moneysavingexpert.com/discussion/comment/76717708#Comment_76717708

sebtomato

ColdIron wrote: »

Coventry BS at HL is 1.20% AER and 1.19% gross

They had Paragon offering 1.25% AER/ 1.24% gross, not so long ago, but probably closed to new applications now.
It looks like the rate is kept even if money is withdrawn and put back later on.

ColdIron

It's quite possible you are right. I've had the Coventry one since August and it's been the highest easy access account at HL since then. I guess my point was HL don't offer 1.25% and haven't for some time. Easy access is a quick moving market

sebtomato

ColdIron wrote: »

It's quite possible you are right. I've had the Coventry one since August and it's been the highest easy access account at HL since then. I guess my point was HL don't offer 1.25% and haven't for some time. Easy access is a quick moving market

They don't offer 1.25% right now, but were offering it not so long ago (I believe early October), since I have such savings account (Paragon) with HL. I guess it was a short term offer and you didn't see it/subscribed in time...