Notice Accounts

isasmurf

The trend over the last 18 months or so is when Oxbury increase their rates to the top of the table, Oak North usually respond with a matching or slightly better rate within a couple of days... So let's see what they do this time

SuzzleBumpkin

10_66 said:

I've just noticed that Oxbury have a 90 day notice account for 3.40%.  I’ve not used Oxbury before, and was wondering if anyone here has experienced whether or not they usually increase their rates (as sometimes happens with other providers of variable rate notice accounts), especially given what they state on their website;

"Please note this account is NOT linked to the Bank of England base rate so fluctuations in the base rate will not be reflected in your interest rate”.

I was also considering the Oxbury account. 3.4% is pretty attractive and I’ve got some spare cash to invest. I had a look at Trustpilot. Now, I usually take Trustpilot reviews with a pinch of salt because when a bank introduces a new competitive product there’s a tendency for them to be overwhelmed with phone calls and people having glitches trying to sign up etc. etc. However in this case the reviews are mostly from existing clients who are fed up to the back teeth because Oxbury don’t look after their existing customers by passing on rate increases. A lot of them are complaining that it essentially becomes a fixed rate, rather than a variable one. As that is one of my pet hates, I’ve decided to hang on and wait for two to three weeks to see what the competition has to offer. 

If you don’t already bank with them, BLME & OakNorth are very good at increasing their rates pretty smartish for existing customers. They would be my first choice. No doubt they’ll both offer new products soon. 

Here are the Oxbury Trustpilot comments. https://uk.trustpilot.com/review/www.oxbury.com

10_66

SuzzleBumpkin said:

10_66 said:

I've just noticed that Oxbury have a 90 day notice account for 3.40%.  I’ve not used Oxbury before, and was wondering if anyone here has experienced whether or not they usually increase their rates (as sometimes happens with other providers of variable rate notice accounts), especially given what they state on their website;

"Please note this account is NOT linked to the Bank of England base rate so fluctuations in the base rate will not be reflected in your interest rate”.

I was also considering the Oxbury account. 3.4% is pretty attractive and I’ve got some spare cash to invest. I had a look at Trustpilot. Now, I usually take Trustpilot reviews with a pinch of salt because when a bank introduces a new competitive product there’s a tendency for them to be overwhelmed with phone calls and people having glitches trying to sign up etc. etc. However in this case the reviews are mostly from existing clients who are fed up to the back teeth because Oxbury don’t look after their existing customers by passing on rate increases. A lot of them are complaining that it essentially becomes a fixed rate, rather than a variable one. As that is one of my pet hates, I’ve decided to hang on and wait for two to three weeks to see what the competition has to offer. 

If you don’t already bank with them, BLME & OakNorth are very good at increasing their rates pretty smartish for existing customers. They would be my first choice. No doubt they’ll both offer new products soon. 

Here are the Oxbury Trustpilot comments. https://uk.trustpilot.com/review/www.oxbury.com

Yes, thanks.  I'd already checked out Trustpilot's reviews before I posted above and, for the same reason as you, I decided to hold on for a short while before taking the plunge.  Thanks for the info on BLME and OakNorth as I've not used them before.  I find Allica usually increase their rates too.

SuzzleBumpkin

10_66 said:

SuzzleBumpkin said:

10_66 said:

I've just noticed that Oxbury have a 90 day notice account for 3.40%.  I’ve not used Oxbury before, and was wondering if anyone here has experienced whether or not they usually increase their rates (as sometimes happens with other providers of variable rate notice accounts), especially given what they state on their website;

"Please note this account is NOT linked to the Bank of England base rate so fluctuations in the base rate will not be reflected in your interest rate”.

I was also considering the Oxbury account. 3.4% is pretty attractive and I’ve got some spare cash to invest. I had a look at Trustpilot. Now, I usually take Trustpilot reviews with a pinch of salt because when a bank introduces a new competitive product there’s a tendency for them to be overwhelmed with phone calls and people having glitches trying to sign up etc. etc. However in this case the reviews are mostly from existing clients who are fed up to the back teeth because Oxbury don’t look after their existing customers by passing on rate increases. A lot of them are complaining that it essentially becomes a fixed rate, rather than a variable one. As that is one of my pet hates, I’ve decided to hang on and wait for two to three weeks to see what the competition has to offer. 

If you don’t already bank with them, BLME & OakNorth are very good at increasing their rates pretty smartish for existing customers. They would be my first choice. No doubt they’ll both offer new products soon. 

Here are the Oxbury Trustpilot comments. https://uk.trustpilot.com/review/www.oxbury.com

Yes, thanks.  I'd already checked out Trustpilot's reviews before I posted above and, for the same reason as you, I decided to hold on for a short while before taking the plunge.  Thanks for the info on BLME and OakNorth as I've not used them before.  I find Allica usually increase their rates too.

From the beginning of September my Allica via Flagstone account have changed the rates twice, on 28/10  to 2.9% and quickly again to 3.1%. But that’s 2 months when they really started to lag. For that reason I’ve put in notice and will try for a more responsive bank. For changing their rate promptly they were next to last out of my 8 accounts. 

soulsaver

Aldermore - the bundle:

Following the latest increase in the Bank of England Base Rate, we’ve made some further increases to our variable rate savings products with effect from Friday 11 November. The new rates are shown below:

• All issues of the Easy Access Account have increased to 2.75% AER*
• All issues of the 30 Day Notice Account have increased to 2.80% AER*
• The 45 Day Notice Account has increased to 2.85% AER*
• All issues of the 60 Day Notice Account have increased to 2.85% AER*
• All issues of the 90 Day Notice Account have increased to 2.90% AER*
• All issues of the 120 Day Notice Account have increased to 2.95% AER*
• All issues of the 30 Day Notice Cash ISA have increased to 2.80% AER*
• All issues of the 60 Day Notice Cash ISA have increased to 2.85% AER*
• The Double Access Account has increased to 3.00% AER*
• All issues of the Easy Access Help to Buy: ISA have increased to 2.75% AER*

Well done Aldermore for clear offer applying increase to existing acs and simple presentation  .

SuzzleBumpkin

soulsaver said:

Aldermore - the bundle:

Following the latest increase in the Bank of England Base Rate, we’ve made some further increases to our variable rate savings products with effect from Friday 11 November. The new rates are shown below:

• All issues of the Easy Access Account have increased to 2.75% AER*
• All issues of the 30 Day Notice Account have increased to 2.80% AER*
• The 45 Day Notice Account has increased to 2.85% AER*
• All issues of the 60 Day Notice Account have increased to 2.85% AER*
• All issues of the 90 Day Notice Account have increased to 2.90% AER*
• All issues of the 120 Day Notice Account have increased to 2.95% AER*
• All issues of the 30 Day Notice Cash ISA have increased to 2.80% AER*
• All issues of the 60 Day Notice Cash ISA have increased to 2.85% AER*
• The Double Access Account has increased to 3.00% AER*
• All issues of the Easy Access Help to Buy: ISA have increased to 2.75% AER*

Well done Aldermore for clear offer applying increase to existing acs and simple presentation  .

Yep. Clear, comprehensive, and looking after their current clients. Not sure why you’d choose the 60 day notice account if you can get the same rate at 45 days but… I will definitely bear Aldermore in mind when I have some spare cash in January. Although they’re lagging at 2.9% x 90 days, if they’re only just reaching that now, so actually 🤔 probably not. 😊

soulsaver

SuzzleBumpkin said:

soulsaver said:

Aldermore - the bundle:

Following the latest increase in the Bank of England Base Rate, we’ve made some further increases to our variable rate savings products with effect from Friday 11 November. The new rates are shown below:

• All issues of the Easy Access Account have increased to 2.75% AER*
• All issues of the 30 Day Notice Account have increased to 2.80% AER*
• The 45 Day Notice Account has increased to 2.85% AER*
• All issues of the 60 Day Notice Account have increased to 2.85% AER*
• All issues of the 90 Day Notice Account have increased to 2.90% AER*
• All issues of the 120 Day Notice Account have increased to 2.95% AER*
• All issues of the 30 Day Notice Cash ISA have increased to 2.80% AER*
• All issues of the 60 Day Notice Cash ISA have increased to 2.85% AER*
• The Double Access Account has increased to 3.00% AER*
• All issues of the Easy Access Help to Buy: ISA have increased to 2.75% AER*

Well done Aldermore for clear offer applying increase to existing acs and simple presentation  .

Yep. Clear, comprehensive, and looking after their current clients. Not sure why you’d choose the 60 day notice account if you can get the same rate at 45 days but… I will definitely bear Aldermore in mind when I have some spare cash in January. Although they’re lagging at 2.9% x 90 days, if they’re only just reaching that now, so actually 🤔 probably not. 😊

I don't see a reason to choose any of their notice acs when you can get a better rate with the Double  Access account... but if you already had them you'd be pleased with the increased rates.

SuzzleBumpkin

• @soulsaver You’re absolutely right. Good point. Well made.  😊
• I’m hoping for some lovely new 90 day interest rates over the next 6 weeks or so. I wish all 90 day accounts passed on interest rates to existing clients like BLME and OakNorth.

isasmurf

Oxbury have reduced their rates

Oaknorth have reduced the 120 day account to 3.2% (Issue 28) having earlier today  increased it to 3.46% (issue 27) from 3.1% (Issue 26). No change to their 90 day account. 

SuzzleBumpkin

I was considering the Oxbury 90 day @ 3.4%. Glad I decided against it. I’m going to see what happens over the next 3 weeks or so. See what new products pop up.