MSE Poll: How often do you dip into your savings?

MSE_Gavin

Poll started 13 December 2022

An easy-access savings account allows you to deposit and (perhaps more importantly) withdraw whenever you like. But, with rates often lower than for fixed savings accounts ‒ where your money's locked away for a set period ‒ we wondered how often you're taking advantage of the 'access' element of your easy-access account. Let us know in our poll below.

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Did you vote? Are you surprised at the results so far? Have your say below.
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Thanks!

cwep2

Easy access is good for being able to withdraw/move to better interest rate. I use notice accounts and 1yr fixes, but as rates started going up quickly it seemed better to wait. 

I have a 1yr fix maturing this week at the princely rate of 1.41% (which was a best buy at the time) it was good for 4 months then instant access went to 1.5% (Chase) and I’d have been better instant access all the way. 

When the 1yr rates went above 4% I started to shift back the stuff earmarked for fixed that had been sat in instant access for a few months. 

phillw

Why do people have easy access accounts but don't access them? Isnt the whole point so you can move your income to it and then move money back to pay bills?

MalMonroe

phillw said:

Why do people have easy access accounts but don't access them? Isn't the whole point so you can move your income to it and then move money back to pay bills?

Because there's always the possibility that they might need to get hold of some money unexpectedly and urgently?? That's why I have some of my money in one.

saveroony

I dip into instant access accounts to drip feed into the regular savers and pay for unexpected bills