The Top Fixed Interest Savings Discussion Area

Doctor_Who

Sea_Shell said:

For the first time with Raisin, I've been offered a renewal (Gatehouse), but a little disappointed that it's at their current standard rate, not a "special" rate.

Other than speed, saving a day or two, I can't see any benefit of doing a renewal, over just paying out and depositing it in the best available at the time.

Am I missing something?

I've had a few renewal offers with Raisin, all have been with the same provider and underwhelming. I've either let the money be returned to the holding account and chosen another provider with a better rate, or withdrawn the money to go elsewhere. It would be nice if they offered 'preferential renewal rates' but all you seem to get is the offer of a renewal at the provider's current rate.

bristolleedsfan

vic_sf49 said:

 

I funded it prior to getting the paperwork, using the application reference number and my surname. (I mentioned this up thread somewhere.)

As you transfer it into their generic account, for them to put into your account, I wonder if it matters. So long as the reference corresponds to your personal account in some way.  

Putting surname or part of surname merely provides additional information to go with reference number .......

BooJewels

vic_sf49 said:

I've now had the welcome letter from Charter, with my account number on (7 digits), so now I understand what you @BooJewels and their FAQ are on about. 

I funded it prior to getting the paperwork, using the application reference number and my surname. (I mentioned this up thread somewhere.)

As you transfer it into their generic account, for them to put into your account, I wonder if it matters. So long as the reference corresponds to your personal account in some way.  

But you've got to be happy with where you're sending it. 

I'm sure that any of their specified references would probably be fine, I'm just a smidge irked by the inconsistency - especially as the initial required payment is 5 grand.  I wouldn't give two hoots if it was a quid - I'd just have a bash. 

To a computer, a reference of 1234567 - Bloggs - (not my actual account or name) may not be the seen and treated the same as 2YC1234567BLO Bloggs - depending on how it has been programmed and how tight the parameters are for identifying accounts - I suspect my bank won't even allow such a long reference anyway. But those are two of the ways they have asked me to reference the payment.  I think the full account number (disregarding their application reference for now, as that's a separate, different number) consists of a reference to the type of account - the first three digits I suspect identify it as a 2 year fix, the middle numbers are the actual 7 digit account number they refer to in some places and the last three characters are from my surname.  I'm tempted to go with 2YC1234567BLO as that should have enough detail in and satisfy the character limit at my bank.

I'm also a smidge concerned not to have had a reply to my secure message after a weekend and 3 working days.  I also asked about the extra three leading zeros in my nominated account number - as I want to be paid away monthly interest to my nominated account - it'll be really inconvenient to me if that doesn't happen.  I'll decide in the morning when I do my banking.

A._Badger

BooJewels said:

vic_sf49 said:

I've now had the welcome letter from Charter, with my account number on (7 digits), so now I understand what you @BooJewels and their FAQ are on about. 

I funded it prior to getting the paperwork, using the application reference number and my surname. (I mentioned this up thread somewhere.)

As you transfer it into their generic account, for them to put into your account, I wonder if it matters. So long as the reference corresponds to your personal account in some way.  

But you've got to be happy with where you're sending it. 

I'm sure that any of their specified references would probably be fine, I'm just a smidge irked by the inconsistency - especially as the initial required payment is 5 grand.  I wouldn't give two hoots if it was a quid - I'd just have a bash. 

To a computer, a reference of 1234567 - Bloggs - (not my actual account or name) may not be the seen and treated the same as 2YC1234567BLO Bloggs - depending on how it has been programmed and how tight the parameters are for identifying accounts - I suspect my bank won't even allow such a long reference anyway. But those are two of the ways they have asked me to reference the payment.  I think the full account number (disregarding their application reference for now, as that's a separate, different number) consists of a reference to the type of account - the first three digits I suspect identify it as a 2 year fix, the middle numbers are the actual 7 digit account number they refer to in some places and the last three characters are from my surname.  I'm tempted to go with 2YC1234567BLO as that should have enough detail in and satisfy the character limit at my bank.

I'm also a smidge concerned not to have had a reply to my secure message after a weekend and 3 working days.  I also asked about the extra three leading zeros in my nominated account number - as I want to be paid away monthly interest to my nominated account - it'll be really inconvenient to me if that doesn't happen.  I'll decide in the morning when I do my banking.

My memory might be at fault but I seem to recall an 'either or' comment in their paying-in instructions when I signed up last week. In any case, I simply paid in using the formula 4ZX 8765432 DOG (invented numbers/letters) and it worked fine. I think Vic_SF49 (above) had it right: you're paying into a generic account and what is needed is a way of identifying you reliably, of which there may well be more than one, as their instructions imply.

I understand your caution but, for me, I wasn't willing to risk what turned out to be a fast vanishing interest rate. 

bristolleedsfan

moi said:

fabsaver said:

New table topping fixed rate bonds from FirstSave launched today.

1 year 6.10%
2 year 6.15%
3 year 5.95%

https://firstsave.co.uk/accounts/index.html

Does anyone have any experience with First Save? I've never heard of them. Their website looks a bit amateur.

Follow up from my initial reply, Back around 2008ish First Save were regularly at/near top of best buy tables + they offered cashback via TCB/Quidco. During period of very low interest rates little was seen of First Save on best buy tables.

BooJewels

A._Badger said:

BooJewels said:

vic_sf49 said:

I've now had the welcome letter from Charter, with my account number on (7 digits), so now I understand what you @BooJewels and their FAQ are on about. 

I funded it prior to getting the paperwork, using the application reference number and my surname. (I mentioned this up thread somewhere.)

As you transfer it into their generic account, for them to put into your account, I wonder if it matters. So long as the reference corresponds to your personal account in some way.  

But you've got to be happy with where you're sending it. 

I'm sure that any of their specified references would probably be fine, I'm just a smidge irked by the inconsistency - especially as the initial required payment is 5 grand.  I wouldn't give two hoots if it was a quid - I'd just have a bash. 

To a computer, a reference of 1234567 - Bloggs - (not my actual account or name) may not be the seen and treated the same as 2YC1234567BLO Bloggs - depending on how it has been programmed and how tight the parameters are for identifying accounts - I suspect my bank won't even allow such a long reference anyway. But those are two of the ways they have asked me to reference the payment.  I think the full account number (disregarding their application reference for now, as that's a separate, different number) consists of a reference to the type of account - the first three digits I suspect identify it as a 2 year fix, the middle numbers are the actual 7 digit account number they refer to in some places and the last three characters are from my surname.  I'm tempted to go with 2YC1234567BLO as that should have enough detail in and satisfy the character limit at my bank.

I'm also a smidge concerned not to have had a reply to my secure message after a weekend and 3 working days.  I also asked about the extra three leading zeros in my nominated account number - as I want to be paid away monthly interest to my nominated account - it'll be really inconvenient to me if that doesn't happen.  I'll decide in the morning when I do my banking.

My memory might be at fault but I seem to recall an 'either or' comment in their paying-in instructions when I signed up last week. In any case, I simply paid in using the formula 4ZX 8765432 DOG (invented numbers/letters) and it worked fine. I think Vic_SF49 (above) had it right: you're paying into a generic account and what is needed is a way of identifying you reliably, of which there may well be more than one, as their instructions imply.

I understand your caution but, for me, I wasn't willing to risk what turned out to be a fast vanishing interest rate. 

They do give alternatives - using either your application reference or actual account details - but even those vary in how they're specified.  Yes, Barclays are the receiving bank, then the payment is attributed to your specific account.

Why would the interest rate diminish - if it's to a fix, the interest rate when you apply will remain in force until your 14 day funding window is up - at which point you've either locked in your pennies for the duration, or it will be closed because you didn't choose to fund it.  Mine is still showing the same rate as when I applied last week - I'm not expecting it to change, as long as I fund it in time.

jaypers

Investec have upped their 1 Year Fixed:-

The interest rate is 6.00% AER* / gross p.a.. The minimum balance is £5,000 and the maximum is £250,000.

Interest is calculated daily and paid into your linked account in one fixed payment with your balance at the end of your term.

JGB1955

BooJewels said:

Why would the interest rate diminish - if it's to a fix, the interest rate when you apply will remain in force until your 14 day funding window is up - at which point you've either locked in your pennies for the duration, or it will be closed because you didn't choose to fund it.  Mine is still showing the same rate as when I applied last week - I'm not expecting it to change, as long as I fund it in time.

I've let a couple of Charter Bank 'fixes' lapse over the past fortnight as Atom came up with better rates.  More money to invest at the end of July so will apply/fund/lapse as rates change.  Now I have an up-to-date profile with Charter would expect any future funding to be seamless.

CheekyMikey

thegreenone said:

fabsaver said:

New table topping fixed rate bonds from FirstSave launched today.

1 year 6.10%
2 year 6.15%
3 year 5.95%

https://firstsave.co.uk/accounts/index.html

I got really excited as they offer monthly income and then read the small print at 3.  You can only make one payment into the account and that's it.  My bank only allows £25k transfers and I am very hesitant to do that to a bank I haven't done a small verification amount to.

As I understand it, and I am only looking at the 1 year monthly interest option, minimum initial deposit is £5k but you can add as many extra payments as you like for 10 days after your initial payment. 

“We can accept multiple payments over 10 calendar days to fully fund your account. Your initial deposit must be made within 10 working days of the date your account is opened; this is the date your User ID and welcome pack is provided to you”

francoghezzi

Meanwhile, Htb 5 year at 5.75% .