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Disappearing accounts
kimwp
Posts: 3,485 Forumite
The list for the best easy access savings accounts seems to be completely different from when I looked at it 1-2 weeks ago. Does anyone know- is this due to the accounts being withdrawn (perhaps due having enough subscribers) or the interest rates dropping?
Statement of Affairs (SOA) link: https://www.lemonfool.co.uk/financecalculators/soa.php
For free, non-judgemental debt advice, try: Stepchange or National Debtline. Beware fee charging companies with similar names.
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Could be combination of both.0
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At the moment, interest rates can be changing every few days, so if you see a rate you like the look of you need to get in quick, otherwise you might find it's been lowered or disapeared altogether.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
Thank @cattie. As the interest rates are all variable, I'm wondering if the accounts are coming off the top tables because rates are dropping for the people who have moved to those accounts. If so, there doesn't seem much point moving accounts, for the rate to then drop. If it's simply that they are full up or not offering the rate to new customers, then as you say, it makes sense to jump on whichever the highest is asap.cattie said:At the moment, interest rates can be changing every few days, so if you see a rate you like the look of you need to get in quick, otherwise you might find it's been lowered or disapeared altogether.Statement of Affairs (SOA) link: https://www.lemonfool.co.uk/financecalculators/soa.phpFor free, non-judgemental debt advice, try: Stepchange or National Debtline. Beware fee charging companies with similar names.0 -
Banks will tap the market for the amount of funds that they require. Then close the product.
With the savings rate hitting 28% of incomes (6% pre Covid) there's a lot of cash circulating around looking for a home.2
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