Chase 1.5% Easy Access

sebtomato

mlc2009 said:

I'm definitely not opening one of these accounts, for one simple reason

I hate seeing myself in pictures. I hate front facing selfies with the image flipped, I look rough

Sounds like a great, rational reason to decide on where to invest money...

VXman

sebtomato said:

But of course, when it comes to items you could spread payments for and pay by Direct Debit (like utility bills), you might be better off keep your money on the 1.5% savings account instead.

Except that generally your electricity/gas is cheaper if you pay by direct debit.

VXman

mlc2009 said:

I'm definitely not opening one of these accounts, for one simple reason

I hate seeing myself in pictures. I hate front facing selfies with the image flipped, I look rough

I'll stick with my NSANDI direct saver at 0.5 percent

It's only used for security/identification at the opening account stage. Not used after that.

k_man

refluxer said:

Is the bank card sent out automatically or is it something you'd have to request ? I opened my account on Monday last week and haven't received a card yet.

 What does it say under the card in the app?
If you didn't pick a card PIN during the account creation, you need to do that in the app, and then a card will be sent.

sebtomato

VXman said:

sebtomato said:

But of course, when it comes to items you could spread payments for and pay by Direct Debit (like utility bills), you might be better off keep your money on the 1.5% savings account instead.

Except that generally your electricity/gas is cheaper if you pay by direct debit.

Why "except"? So yes, for many people, Direct Debit may be better than paying utility bills in advance to try to get a cashback.

Example:

• I can pay my water bill in advance for the next 12 months in full, and get 1% cashback
• or I can pay my water bill by direct debit monthly, and keep the money until it's needed on a savings account at 1.5%

kora_2

Took the plunge myself. Really easy to open and now transferring savings from Marcus at 0.7%. May leave £1 in just incase they get competitive again.

k_man

sebtomato said:

VXman said:

sebtomato said:

But of course, when it comes to items you could spread payments for and pay by Direct Debit (like utility bills), you might be better off keep your money on the 1.5% savings account instead.

Except that generally your electricity/gas is cheaper if you pay by direct debit.

Why "except"? So yes, for many people, Direct Debit may be better than paying utility bills in advance to try to get a cashback.

Example:

• I can pay my water bill in advance for the next 12 months in full, and get 1% cashback
• or I can pay my water bill by direct debit monthly, and keep the money until it's needed on a savings account at 1.5%

Why pay by card in advance? Pay monthly and get 1% cashback and effective 0.75% on the savings.

But obviously depends on the difference in DD Vs cards costs with suppliers.

ChaskhaChaia

kora_2 said:

Took the plunge myself. Really easy to open and now transferring savings from Marcus at 0.7%. May leave £1 in just incase they get competitive again.

You don't need to leave £1 in there - the account remains open with a zero balance. If Marcus does substantially raise their rates you will be able to transfer your money back into the account.

VXman

sebtomato said:

VXman said:

sebtomato said:

But of course, when it comes to items you could spread payments for and pay by Direct Debit (like utility bills), you might be better off keep your money on the 1.5% savings account instead.

Except that generally your electricity/gas is cheaper if you pay by direct debit.

Why "except"? So yes, for many people, Direct Debit may be better than paying utility bills in advance to try to get a cashback.

Example:

• I can pay my water bill in advance for the next 12 months in full, and get 1% cashback
• or I can pay my water bill by direct debit monthly, and keep the money until it's needed on a savings account at 1.5%

The poster I quoted was suggesting that you might be better paying your utility bills as they come (presumably) and keeping the money in Chase gaining 1.5% interest. I said 'except' that you might do better by having a direct debit with the energy company as they would give a discount for having a direct debit. Not sure what the problem of my use of 'except' is in this case?

Anyway - there are lots of ways to play this but in the end the difference is probably very little.

sebtomato

VXman said:

sebtomato said:

VXman said:

sebtomato said:

But of course, when it comes to items you could spread payments for and pay by Direct Debit (like utility bills), you might be better off keep your money on the 1.5% savings account instead.

Except that generally your electricity/gas is cheaper if you pay by direct debit.

Why "except"? So yes, for many people, Direct Debit may be better than paying utility bills in advance to try to get a cashback.

Example:

• I can pay my water bill in advance for the next 12 months in full, and get 1% cashback
• or I can pay my water bill by direct debit monthly, and keep the money until it's needed on a savings account at 1.5%

The poster I quoted was suggesting that you might be better paying your utility bills as they come (presumably) and keeping the money in Chase gaining 1.5% interest. I said 'except' that you might do better by having a direct debit with the energy company as they would give a discount for having a direct debit. Not sure what the problem of my use of 'except' is in this case?

Anyway - there are lots of ways to play this but in the end the difference is probably very little.

You were quoting me, staying that it's better to pay but direct debit, which is what I was saying too... Usually, "except" is not used when people agree, that's all.