The Top Fixed Interest Savings Discussion Area

Patr100

meat_n2_reg said:

6 month fixed @ 2% Shawbrook seems ideal at the moment 

It does but  I have to hold it as my current fixed deals don't expire til next week and the other one next month.
Perhaps there will be  other shorter term deals to match now that the rate has been announced.

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Malchester said:

Just opened a 6 month account with Shawbrook- no mention of timescale for deposits 

Have you put any money in? How does it work, you put some money in at 9 am and it shows on your account at the end of the day?

Malchester

Thumbs_Up said:

Malchester said:

Just opened a 6 month account with Shawbrook- no mention of timescale for deposits 

Have you put any money in? How does it work, you put some money in at 9 am and it shows on your account at the end of the day?

Havent put any money in yet. Will do after the weekend probably unless a better offer comes along

Growingold

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Malchester said:

Just opened a 6 month account with Shawbrook- no mention of timescale for deposits 

Have you put any money in? How does it work, you put some money in at 9 am and it shows on your account at the end of the day?

Doesn't show immediately when you send a faster payment but does within a couple of hours.  When it does Shawbrook texts  that they've received your deposit

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I sent a £1 test about 9am didn't clear until 2pm. Sent £25000 cleared in 30 minutes. Just wonder if money was pouring in this morning and system was struggling 😀

gwapenut

Could we move in-depth discussions about how quickly each and every account handles transfers, into another thread? It would be a shame if this thread went the way of the other savings disucssion-of-absolutely-everything threads.

The 6 month fix is a real gem but the contributor could easily have given up on this thread if it had been lost in noise like other threads.

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Back to Shawbrook - the minimum account opening balance is £1,000. So when I applied I was expecting them to take £1k from my debit card – they did not, hence the reason for the £1 test followed by the larger payment. Is this normal way to do it from any savings account providers?

For my own personal circumstance, 6 months is nothing to me and trumps Chase bank account.

refluxer

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Back to Shawbrook - the minimum account opening balance is £1,000. So when I applied I was expecting them to take £1k from my debit card – they did not, hence the reason for the £1 test followed by the larger payment. Is this normal way to do it from any savings account providers?

A test payment followed by larger payments is the usual procedure I use for this type of fixed rate account.

The minimum opening balance just means that they'll close the account if you don't get to that level within a certain timeframe.

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refluxer said:

Thumbs_Up said:

A test payment followed by larger payments is the usual procedure I use for this type of fixed rate account.

The point i was trying to make £1 is not £1000, so why the bank stipulates opening balance?

ranciduk

The interest rate doesn’t kick in until your balance reaches a minimum of £1000