The Top Fixed Interest Savings Discussion Area

PixelPound

Doctor_Who said:

nic_c said:

S_uk said:

dgpur said:

S_uk said:

BooJewels said:

S_uk said:

BooJewels said:

I wonder how this would fare against the equality act - if for example, you were disabled in a way that might prevent travel or driving, but would prevent you accessing financial and other services and being treated less favourably than others.

You don't have to travel to get a passport.

I know that - I already said that I had to get one for dealing with non-travel stuff. I've not been out of the country for 30 years. But it is a travel document - so you should be able to function in society without one if you either can't, or don't want to travel overseas.  Plus, they're expensive and not everyone can afford one.  

It's an ID document that can be used for travel amongst other things. I was responding to your point that it could possibly be a breach of the equality act because some people might not be able to travel due to a disability, which is irrelevant to the point of whether someone can actually get a passport or not.

But the fact of needing to purchase a passport (an extra hurdle)  to obtain goods and services might be an issue with regard to the act. Especially when there are other means of determining identity that other banks use. Being without a passport or driving licence because I’m disabled, I’ve face this issue way too often. As I live off the returns on invested money (in banks and shares), the cost of buying a passport is not a trivial one.

Hopefully someone who doesn’t require ID will have the best rates when my next pot of money comes up for reinvestment soon.

I appreciate there is a cost to buying a passport, and there have been posts on here in the past about this issue along with loads of threads about people questioning having to buy a more updated phone to access some banking apps.

However I was responding to the poster who specifically mentioned disability and not being able to travel possibly breaching the act, when of course not being able to travel doesn't stop anyone getting a passport.

There is the completely separate issue of people not being able to afford to buy one, and of course that would be an issue for some including poor people who did not have a disability, and wouldn't be an issue for a wealthy person who was disabled.

Anyway, will now steer back to the thread topic.

What about the government ID they now produce for elections? These don't cost and so would be a good alternative to passports/driving licenses - that is if the bank accept them.

But as pointed out by wmb194 here, the bar for getting an election ID is very low.

The point is should a barrier to taking out a savings account be whether you have diving licence or current passport. 

mebu60

From Investors Chronicle today:
Markets are pricing in 70 per cent chance the Bank of England Monetary Policy Committee votes for another 0.5 percentage point hike in August after UK wage growth remained at a record high 7.3 per cent in the three months to May. Wages are up, sterling is up, these rate hike expectations are even more concrete.
Next meeting 3 August.

Doctor_Who

nic_c said:

Doctor_Who said:

nic_c said:

S_uk said:

dgpur said:

S_uk said:

BooJewels said:

S_uk said:

BooJewels said:

I wonder how this would fare against the equality act - if for example, you were disabled in a way that might prevent travel or driving, but would prevent you accessing financial and other services and being treated less favourably than others.

You don't have to travel to get a passport.

I know that - I already said that I had to get one for dealing with non-travel stuff. I've not been out of the country for 30 years. But it is a travel document - so you should be able to function in society without one if you either can't, or don't want to travel overseas.  Plus, they're expensive and not everyone can afford one.  

It's an ID document that can be used for travel amongst other things. I was responding to your point that it could possibly be a breach of the equality act because some people might not be able to travel due to a disability, which is irrelevant to the point of whether someone can actually get a passport or not.

But the fact of needing to purchase a passport (an extra hurdle)  to obtain goods and services might be an issue with regard to the act. Especially when there are other means of determining identity that other banks use. Being without a passport or driving licence because I’m disabled, I’ve face this issue way too often. As I live off the returns on invested money (in banks and shares), the cost of buying a passport is not a trivial one.

Hopefully someone who doesn’t require ID will have the best rates when my next pot of money comes up for reinvestment soon.

I appreciate there is a cost to buying a passport, and there have been posts on here in the past about this issue along with loads of threads about people questioning having to buy a more updated phone to access some banking apps.

However I was responding to the poster who specifically mentioned disability and not being able to travel possibly breaching the act, when of course not being able to travel doesn't stop anyone getting a passport.

There is the completely separate issue of people not being able to afford to buy one, and of course that would be an issue for some including poor people who did not have a disability, and wouldn't be an issue for a wealthy person who was disabled.

Anyway, will now steer back to the thread topic.

What about the government ID they now produce for elections? These don't cost and so would be a good alternative to passports/driving licenses - that is if the bank accept them.

But as pointed out by wmb194 here, the bar for getting an election ID is very low.

The point is should a barrier to taking out a savings account be whether you have diving licence or current passport. 

In my opinion, no. A driving licence is for driving and a passport is for travelling, but I don't make the rules around ID checks when opening savings accounts. I'm also not keen on having to take a selfie as Chase requires!

SJMALBA

mebu60 said:

From Investors Chronicle today:
Markets are pricing in 70 per cent chance the Bank of England Monetary Policy Committee votes for another 0.5 percentage point hike in August after UK wage growth remained at a record high 7.3 per cent in the three months to May. Wages are up, sterling is up, these rate hike expectations are even more concrete.
Next meeting 3 August.

Next week's ONS inflation data might be key?

mebu60

SJMALBA said:

mebu60 said:

From Investors Chronicle today:
Markets are pricing in 70 per cent chance the Bank of England Monetary Policy Committee votes for another 0.5 percentage point hike in August after UK wage growth remained at a record high 7.3 per cent in the three months to May. Wages are up, sterling is up, these rate hike expectations are even more concrete.
Next meeting 3 August.

Next week's ONS inflation data might be key?

Without a doubt. Expect expectations are priced in to the perceived % likelihood.

Have just done HTB's 18 month at 6.0% and am happy with that. For now! 

moi

https://www.castletrust.co.uk/savings/rates?product#fixedratee-saver

1 Year fix 6.2%

Edit to add, interest is paid at maturity.

"You have 14 days to fund your new account."

"Your Fixed Rate e-Saver will benefit from ‘Our Best Rate Promise’, which means if we increase the interest rate for the product you have applied for at any point in the 14 days following the opening of your account, you will automatically receive the higher rate. "

Ozzig

Just had Oaknorth reinvest option, 18 months fixed at 6.1% 

For me, that looks appealing as it's convenient and almost top of the pops on Moneyfacts fixed rates too. 

ranciduk

TSB increased their fixed bonds today 

pretty poor 

mr_accountant

Has anyone used castle trust bank, from the information on the website everything can be done online which is ideal, the less interaction with customer service the better

TiVo_Lad

I applied for the 1 Yr Fixed Bond this morning. They failed to validate the linked Current Account which every other financial institution has managed to do, so want documentary evidence.

That said, the eMail was extraordinarily polite, gave me the option to post in or eMail the evidence and are happy to accept a voided cheque. Plus they have their 14 Day automatic rate guarantee.