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3% ish Easy Access... At Vanguard!
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where_are_we said:How quickly will Vanguard increase their interest rate on cash currently about 3.1% to about 3.6%, following today`s base rate increase?2
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peterpies said:NedS said:peterpies said:jimjames said:peterpies said:Hargreaves Lansdown is looking a better option for me, even with their higher fees. I spend a certain amount of time out the market.
If rates drop, I can always transfer out.
I will at some point in the near future need to open a second account to minimize platform risk, HL are the 'only' other broker who allow expats to buy and sell on existing accounts without forcing closure. I am semi planning to become expat in the future, which may or may not happen.
What's the name of the ETF? I'll look into it.
I would never use Vanguard, as I buy UK shares.I currently use CSH2 (other ETFs are available). Not a recommendation. You will need to consider trading fees and bid/offer spreads.There are a range of Short Term Money Market funds available too, for those who prefer OEIC funds (including an offering from Vanguard) that should also track BoE base rate:
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From the Vanguard site:
Changes to the interest we pay you From 20 February we will be changing the way we pay interest. Rather than paying you a variable rate, we’ll pay you a fixed rate of 1.95%.
We’ll keep any extra interest we receive on your cash above the 1.95% we pay you.
We’ll review this regularly to make sure the amount of interest you receive is fair and offers good value.
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drob4 said:
From the Vanguard site:
Changes to the interest we pay you From 20 February we will be changing the way we pay interest. Rather than paying you a variable rate, we’ll pay you a fixed rate of 1.95%.
We’ll keep any extra interest we receive on your cash above the 1.95% we pay you.
We’ll review this regularly to make sure the amount of interest you receive is fair and offers good value.
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N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.2 -
drob4 said:
From the Vanguard site:
Changes to the interest we pay you From 20 February we will be changing the way we pay interest. Rather than paying you a variable rate, we’ll pay you a fixed rate of 1.95%.
We’ll keep any extra interest we receive on your cash above the 1.95% we pay you.
We’ll review this regularly to make sure the amount of interest you receive is fair and offers good value.
Its no coincidence Vanguard decided on this move after more people became aware.6 -
tunde10 said:drob4 said:
From the Vanguard site:
Changes to the interest we pay you From 20 February we will be changing the way we pay interest. Rather than paying you a variable rate, we’ll pay you a fixed rate of 1.95%.
We’ll keep any extra interest we receive on your cash above the 1.95% we pay you.
We’ll review this regularly to make sure the amount of interest you receive is fair and offers good value.
Its no coincidence Vanguard decided on this move after more people became aware.Before doing something... do nothing3 -
drob4 said:
From the Vanguard site:
Changes to the interest we pay you From 20 February we will be changing the way we pay interest. Rather than paying you a variable rate, we’ll pay you a fixed rate of 1.95%.
We’ll keep any extra interest we receive on your cash above the 1.95% we pay you.
We’ll review this regularly to make sure the amount of interest you receive is fair and offers good value.
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Looks like Vanguard have removed the update:
https://www.vanguardinvestor.co.uk/need-help/answer/will-i-receive-interest-on-cash-held-in-my-account
So, not sure what the situation is…2 -
drob4 said:Looks like Vanguard have removed the update:
https://www.vanguardinvestor.co.uk/need-help/answer/will-i-receive-interest-on-cash-held-in-my-account
So, not sure what the situation is…
I did find the following from their Q&A, which do not appear to have changed.
https://www.vanguardinvestor.co.uk/need-help/answer/will-i-receive-interest-on-cash-held-in-my-isa-or-general-account
https://www.vanguardinvestor.co.uk/need-help/answer/will-i-receive-interest-on-cash-held-in-my-personal-pension
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Vanguard's more detailed client terms state that their rate for client cash held in trust is linked to the rate they get for it from the bank so I would be surprised if they could arbitrarily set a much lower rate to discourage rate tarts from piling in. I am sure though that they are unhappy if people have been doing this because their underlying philosophy emphasises long-term investing in equity and bonds. So they are likely to see hot money flows as undesirable and not in the interest of their clients who invest for the long term.3
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