Shawbrook bank easy access

henrycrosby

Shawbrook used to automatically change rates for savers up or down they now don't. I have an easy access account and after watching last nights show checked my account and it was not uprated so I called in to be told they don't adjust it automatically now, you have to ring in. so if you are a Shawbrook customer then you need to call to get the better rate.

cloud_dog

You can just login and message them.

I did this yesterday and by the end of the day the EA account was upgraded.

FatherTireseus

Yes, I logged in this morning to change mine, and in their messaging section there is actually a heading for ‘change my easy access account’ (can’t remember exact phrase but that’s the gist of it).  I sent a message and within a few minutes I had a text to say they’d received my message and would respond soon.

mebu60

henrycrosby said:

Shawbrook used to automatically change rates for savers up or down they now don't. I have an easy access account and after watching last nights show checked my account and it was not uprated so I called in to be told they don't adjust it automatically now, you have to ring in. so if you are a Shawbrook customer then you need to call to get the better rate.

The automatic uplift by Shawbrook is a comparatively recent thing. Previously it was new issues which is what they have reverted to. As others have said, log on and message them, there is a specific header you can select. Mine was done in 28 minutes yesterday. 

Richard1212

I am deserting Marcus at 2.5% in order to go to another Bank on my original rotating list -----Shawbrook, having seen their Edition 32 is paying 2.92% pa.

A token sum remained in Shawbrook's Edition 27 ( lower interest rate) and their rule is that you can only have ONE Shawbrook account). So I phoned them and they magically changed my Edition 27 to 32  while I was on the phone. Simple. I am now transferring  funds from Marcus in tranches of £20,000 per day until I have moved most of my Marcus savings.

I really do benefit enormously from having a "list" of historically good performing and competitive savings accounts ( banks and not BS---the latter are too much hassle and so slow) that are available in one of my main  Current Accounts' quick transfers list. I will not run around chasing the ever-changing top savings accounts, so I find a list of 5 or 6 savings banks that always rise to the top 5 in due course to be most helpful.

AmityNeon

Richard1212 said:

I really do benefit enormously from having a "list" of historically good performing and competitive savings accounts ( banks and not BS---the latter are too much hassle and so slow) that are available in one of my main  Current Accounts' quick transfers list. I will not run around chasing the ever-changing top savings accounts, so I find a list of 5 or 6 savings banks that always rise to the top 5 in due course to be most helpful.

If you're only just moving away from 2.5%, it's not really a benefit other than complacency. I find a list of ~50 institutions readily available at the drop of a hat more beneficial.

Richard1212

AmityNeon said:

Richard1212 said:

I really do benefit enormously from having a "list" of historically good performing and competitive savings accounts ( banks and not BS---the latter are too much hassle and so slow) that are available in one of my main  Current Accounts' quick transfers list. I will not run around chasing the ever-changing top savings accounts, so I find a list of 5 or 6 savings banks that always rise to the top 5 in due course to be most helpful.

If you're only just moving away from 2.5%, it's not really a benefit other than complacency. I find a list of ~50 institutions readily available at the drop of a hat more beneficial.

It matters very little to my overall Easy Savings amounts whether I save at  2.5% or 3% : so I can afford to be complacent ( not that I would use that word---which is only used to be rude without making it too obvious ). I'm quite happy to go through the motions of transferring every 6 months or so to a higher rate, but it doesn't bother me at all if my easy savings sit in a bank whose interest rates have fallen behind the top savers for months. And I certainly don't need to faff around with 50 possible places to house my money. I am happy to rotate between my half dozen favourite savings banks. Hope that helps you to understand that, like I would not scuttle around the ever-changing top savings rates every week, I am very happy with my financial position and the way in which I operate it. Enjoy your 50 institutions-----we're all allowed our own ways of working, depending on our differing financial positions.  

jak22

In normal times there might not be any need to review accounts that often but rates have more than doubled in the last 6 months and over the last 12 months many here will have opened accounts in banks/building societies many hadn't even heard of a year ago. The process of signing up is usually quick and easy these days and transfers are often instant - maybe all complete in less time than it takes to write a long post here. 

AmityNeon

Richard1212 said:

AmityNeon said:

Richard1212 said:

I really do benefit enormously from having a "list" of historically good performing and competitive savings accounts ( banks and not BS---the latter are too much hassle and so slow) that are available in one of my main  Current Accounts' quick transfers list. I will not run around chasing the ever-changing top savings accounts, so I find a list of 5 or 6 savings banks that always rise to the top 5 in due course to be most helpful.

If you're only just moving away from 2.5%, it's not really a benefit other than complacency. I find a list of ~50 institutions readily available at the drop of a hat more beneficial.

It matters very little to my overall Easy Savings amounts whether I save at  2.5% or 3% : so I can afford to be complacent ( not that I would use that word---which is only used to be rude without making it too obvious ). I'm quite happy to go through the motions of transferring every 6 months or so to a higher rate, but it doesn't bother me at all if my easy savings sit in a bank whose interest rates have fallen behind the top savers for months. And I certainly don't need to faff around with 50 possible places to house my money. I am happy to rotate between my half dozen favourite savings banks. Hope that helps you to understand that, like I would not scuttle around the ever-changing top savings rates every week, I am very happy with my financial position and the way in which I operate it. Enjoy your 50 institutions-----we're all allowed our own ways of working, depending on our differing financial positions.  

It is objectively not financially beneficial to use only six banks for savings (this is MSE after all), so complacency is an accurate description, but it wasn't my intention to be rude. You are sufficiently satisfied with your circumstances and method of saving that you see no need in doing more to increase your returns; it's just extra faff to you.

GotNowt

I agree it may be simple to upgrade, but it is an unnecessary requirement as Shawbrook should automatically uplift the interest rate of customers' Easy access accounts.  It's a shame you can't trust them to look after their existing customers who shouldn't have to keep checking in case they've created another Issue.  Why do they need 32 Issues of their Easy Access account anyway?  It's just a ploy to catch customers out and avoid uplifting their interest rate for a few months.  It would be much more SIMPLE if Shawbrook could follow the line taken by several trusty banks which have just one type of Easy Access account with a known single interest rate, like Atom for example.  It may not be 2.9% yet, but neither is my Shawbrook Issue 28 which I've had to change before from a previous issue and it's stuck at 2.28% which is still less than Atom. 

ranciduk

On the other hand a few months ago they reduced their EA rate - yet they didn’t automatically reduce the rate on my EA account - they left it at the higher rate

not bad considering it’s a variable rate account

plus, on a couple of occasions fairly recently they texted me to say that the EA rate has been increased - and that they have increased the rate on my account and I didn’t need to do anything !