Savings ... chasing the piddly rates.....

talexuser

mjv1986 said:

Surely setting up a DD into a Regular saver at say 2.75% is not a lot of effort to be honest.

I assume you mean if you are already with that bank? Switching banks just for the regular saver is a little more effort than not a lot, and I don't know of any regular savers open to anyone that offer near to 2.75%.

NottinghamKnight

talexuser said:

mjv1986 said:

Surely setting up a DD into a Regular saver at say 2.75% is not a lot of effort to be honest.

I assume you mean if you are already with that bank? Switching banks just for the regular saver is a little more effort than not a lot, and I don't know of any regular savers open to anyone that offer near to 2.75%.

RBS, NatWest, HSBC, M&S, First Direct.

enthusiasticsaver

Yes, I am resigned to just staying put now rather than chase the very minimal deals out there.  We had Marcus which reduced a few months ago then N, S  and I Income Bonds and have just moved most of our spare money into our Stocks and Shares ISAs and SIPPs just keeping emergency money in Yorkshire at 0.95%. A few years back we had around 10 high interest current accounts and the  same in regular savers. 

happybagger

Personally I use some no-end-date regular savers as my instant access cash pot, (Earl Shilton, Loughborough, Bath, Mansfield) with Bucks RS Locals as the unlimited instant access one (though cheque withdrawals, it's a bit of a pain), thereby realising about 1.3% overall on instant access cash.

The Swansea and Ipswich RS accounts are maxed and make up for the 0.6% on Santander. All in, my instant access weighted gives 1.57%, content with that atm

talexuser

NottinghamKnight said:

RBS, NatWest, HSBC, M&S, First Direct.

The point is you need the current account first, with those t&cs, not as simple as opening a savings account.

NottinghamKnight

That may be your point, others may differ. It's generally a couple of hours work all in to open, switch and apply for a current account, and there's the opportunity to make many times the annual interest with a switching bonus on several of those accounts.

racey

Black_Cat2 said:

JustAnotherSaver said:

I'm off work soon and will be using some of the time to run through the accounts I manage and put the shutters on the post office accounts triggering direct debits for starters. Things will get streamlined right down which should make my life easier. I'm not spending a load of time scratting around for 10p.

I remember when 10p got you 20 half pence sweets, oh the good old days!  White mice, fruit salads, licorice string.  Oh I miss the 1/2p coin 😸

the good ole days -   jumpers for goal posts 

Eco_Miser

Black_Cat2 said:

I remember when 10p got you 20 half pence sweets, oh the good old days!  White mice, fruit salads, licorice string.  Oh I miss the 1/2p coin 😸

I remember when 10p was a florin - an enormous amount - and it got you 48 ha'penny sweets.

But that was then, and this is now, and I'll likely be cutting back on interest-chasing as the 'good' rates end.

talexuser

NottinghamKnight said:

That may be your point, others may differ. It's generally a couple of hours work all in to open, switch and apply for a current account, and there's the opportunity to make many times the annual interest with a switching bonus on several of those accounts.

I agree entirely, and that is why I originally took issue with the post saying that your "couple of hours work" is the same as "not a lot of effort" compared to the 2 minutes it takes online to open any normal regular savings account where you can't get anywhere near 2.75%!

Black_Cat2

JustAnotherSaver said:

Black_Cat2 said:

JustAnotherSaver said:

I'm off work soon and will be using some of the time to run through the accounts I manage and put the shutters on the post office accounts triggering direct debits for starters. Things will get streamlined right down which should make my life easier. I'm not spending a load of time scratting around for 10p.

I remember when 10p got you 20 half pence sweets, oh the good old days!  White mice, fruit salads, licorice string.  Oh I miss the 1/2p coin 😸

And when Curly Wurly's were longer than your little finger

Yes! 😹

Miss those days.  Saving up enough pennies and 1/2p's for the pick 'n' mix on the way back from school.

Think most of todays choccy bars have shrunk. They can take our extra calories but they can't take our memories! (or something lol).  Forget chasing the piddly rates btw, too much hassle 😹