The Top Fixed Interest Savings Discussion Area

refluxer

vickyholly said:

Hi, Ive recently opened a Gatehouse and a Ford  Money fixed savings account, i did google to make sure they werent linked, but they are literally identical in set up, letters are word for word, accounts look exactly the same etc Are they linked? 

No, Ford Money aren't linked to any other banks.

There is a checker to see whether banks and building societies are linked to any others midway down this page : https://www.moneysavingexpert.com/savings/safe-savings/

Patr100

vickyholly said:

Hi, Ive recently opened a Gatehouse and a Ford  Money fixed savings account, i did google to make sure they werent linked, but they are literally identical in set up, letters are word for word, accounts look exactly the same etc Are they linked? 

Some banks seem to use the same application software -  eg RCI Bank and Charter from my recent experience -  the form and the security set ups though external account or online access verification did vary between them.

wmb194

vickyholly said:

Hi, Ive recently opened a Gatehouse and a Ford  Money fixed savings account, i did google to make sure they werent linked, but they are literally identical in set up, letters are word for word, accounts look exactly the same etc Are they linked? 

Quite a lot of the smaller players use the same banking software and some of them are outsourced to third parties to run e.g., Newcastle Building Society's outsourcing solutions business so sometimes you see similarities for these reasons.

vickyholly

Thanks , that makes sense

SCC2

Just seen on my statement with Charter that they processed an interest payment yesterday (7th), nothing in my account yet. Just wondered how long people find that it takes.

Bobblehat

Is this a payment to an external Bank? Just my experience, but you might see it Monday! Not the quickest Bank I've got when paying out externally .... but I'm not often in a hurry.

Thirty9

SCC2 said:

Just seen on my statement with Charter that they processed an interest payment yesterday (7th), nothing in my account yet. Just wondered how long people find that it takes.

Yep, got mine the day after.

jaypers

SCC2 said:

Just seen on my statement with Charter that they processed an interest payment yesterday (7th), nothing in my account yet. Just wondered how long people find that it takes.

Charter use BACS to process their interest payments. Despite it saying the 7th, I suspect that this may have been overnight before midnight and missed the cut-off. Suspect it will be….,.,
Day 0 - 8th
Day 1 - 9th (today)
Day 2 - 12th (payment into your nominated account).

Depending how your receiving Bank handle their processing, you may see it tomorrow. 

Bobblehat

My experience is frequently as jaypers outlines above.

refluxer

There's been quite a bit of movement on fixed bond rates in the last few days...

The recently-introduced Smartsave (4.32%) and Close Brothers (4.30%) 1-year bonds have been snapped up, but Secure Trust have bucked the downward trend and actually upped their 1-year (and a bit) bond slightly from 4.25% to 4.31% which makes them joint-top of the 1-year fixed rate table alongside the Union Bank of India, but only slightly above Shawbrook (4.30%) and Investec (4.29%).

Vanquis have also released a full range of bonds but the new rates only take them to mid-table (eg. 1-year at 4.15%)

Elsewhere - Zopa, Charter, Kent Reliance and Tandem have dropped the rates of all of their bonds and Nationwide have dropped their 2 and 3 year bond rates, the latter of which (at 4.75%) had been top of the 3-year bond table for a while.

Lastly - just thought it was worth mentioning again that Ford Money Fixed Savers are still available to existing customers @ 4.45% (1 year), 4.70% (2 years) and 4.95% (5 years). The reason I thought I'd mention this is that it's not obvious when visiting their site - it simply says they're 'not currently on sale' and you actually have to log into online banking in order to find this out. These would all be table-toppers if they were currently available to all and presumably they'll be pulled completely at some point unless the downwards trend changes.