Notice Accounts

SuzzleBumpkin

Band7 said:

SuzzleBumpkin said:

Ha ha ha! I’ve already got an account. I’m actually using auto save now to save my tax money every month.  But thanks for the reminder. I originally learned the hard way when it took a lump of money out of my current account and stuck it in their weird prize draw account. 🙄

I wouldn't use autosave myself as I believe there's a charge for it, and I'd rather determine myself what goes into my savings account. But I have parked £100 in the weird prize draw account recently, just as a punt, and because I am maxed out on Premium Bonds which have better odds. 

I’m not sure how it works but there’s no charge for my monthly auto save arrangement. I arranged how much, and the account it goes into. Maybe it’s not classed as “auto save” per se. I’m not sure. I don’t remember the details. 

Band7

SuzzleBumpkin said:

Band7 said:

SuzzleBumpkin said:

Ha ha ha! I’ve already got an account. I’m actually using auto save now to save my tax money every month.  But thanks for the reminder. I originally learned the hard way when it took a lump of money out of my current account and stuck it in their weird prize draw account. 🙄

I wouldn't use autosave myself as I believe there's a charge for it, and I'd rather determine myself what goes into my savings account. But I have parked £100 in the weird prize draw account recently, just as a punt, and because I am maxed out on Premium Bonds which have better odds. 

I’m not sure how it works but there’s no charge for my monthly auto save arrangement. I arranged how much, and the account it goes into. Maybe it’s not classed as “auto save” per se. I’m not sure. I don’t remember the details. 

I am no CHIP autosave expert myself, but I am pretty sure you pay them one way or the other for using autosave. My understanding is that there is no extra charge it you are on a chargeable monthly plan (min £4.99/mth or something like that). If  you don't have such a subscription, it costs 45p for every autosave. Worth checking unless you don't mind being charged.

NB. There seems to also be a thing called Recurring Saves. Quite different from autosaves, but also comes at a charge, 25p every time they execute your instruction. It's a kind of DD which can pull a given amount (min £10) set by yourself, not by the CHIP algorithms, at a frequency selected by you. May be it's that what you are using?

SuzzleBumpkin

If it’s 25p or 45p I probably ignored it because it’s a very convenient way to put my tax money away every month. And it’s earning interest in the meantime.,

Band7

SuzzleBumpkin said:

If it’s 25p or 45p I probably ignored it because it’s a very convenient way to put my tax money away every month. And it’s earning interest in the meantime.,

As long as you know you are paying.

Note that CHIP are apparently now in the process of rolling out an enhancement which will allow old-fashioned deposits by Standing Order. 

cloud_dog

DF Capital have increased the rates on their two (currently available) notice accounts.

90 Day - 3.90%

120 Day - 3.95%

Note: DFC do have a habit of withdrawing offering opening new accounts periodically.

10_66

Can anyone tell me, please, if DF Capital generally increase rates on existing variable notice accounts, or do they just bring out new issues?

Sparky95

I believe they increase the rate, because their notice account has always been Issue 1.

NameWithheld

Oak North
3.95% 90 day
4.00% 120 day
Existing accounts from 1 June

jimexbox

Oxbury 90 day issue 5 now @ 3.90% AER. Up from 3.8 issue 4.

janusd

jimexbox said:

Oxbury 90 day issue 5 now @ 3.90% AER. Up from 3.8 issue 4.

just been through the process again of opening up the new issue and emailing them to transfer & close the old issue 4... it only took them half an hour to reply with the completed transfer confirmation emails.