Santander eSaver Rate increase to 3.25%

mr_accountant

nottsphil said:

mr_accountant said:

received the same email Friday evening surprised that they're doing it and especially by the amount, 3.25% ongoing calls for a beer! 

Isn't this the 2.75% APR account they launched months ago and  left untouched until now? I'd have thought they would have acted sooner because they must surely have been haemorrhaging money the last few weeks.

Haemorrhaging? I would think its just loose change for Santander, and we don't know the outflows, most people will accept less interest from a big bank then move money to lesser known one for the best rate, even less so constantly moving between the smaller banks

on 50k the interest difference between 2.75% and 3.4% is £325 per year, whilst not insignificant certainly not life changing either

soulsaver

My eSaver accounts are showing 3.20% aer monthly now.

Stargunner

soulsaver said:

My eSaver accounts are showing 3.20% aer monthly now.

Same here. Time to switch some savings back to it. Santander is my main current account, so I find it much easier using it with the esaver.

Flugelhorn

mr_accountant said:

nottsphil said:

mr_accountant said:

received the same email Friday evening surprised that they're doing it and especially by the amount, 3.25% ongoing calls for a beer! 

Isn't this the 2.75% APR account they launched months ago and  left untouched until now? I'd have thought they would have acted sooner because they must surely have been haemorrhaging money the last few weeks.

Haemorrhaging? I would think its just loose change for Santander, and we don't know the outflows, most people will accept less interest from a big bank then move money to lesser known one for the best rate, even less so constantly moving between the smaller banks

on 50k the interest difference between 2.75% and 3.4% is £325 per year, whilst not insignificant certainly not life changing either

I agree - got to be a significant after tax change to start moving money around

MX5huggy

Band7 said:

MX5huggy said:

Chase vs Santander 

Santander take the lead “within 5 days” so when is that? Move the money on Wednesday night? 

The instant access lead has been standing at 3.4% since March 7.

I just have these 2 with current accounts I use, can’t be bothered with others for what would be about £10 per year extra. Anymore gets put to work elsewhere. 

samal

Showing 3.25% now

2Sheds

Just moved money out to Ford last week ! Sods law back it goes all mounts up

eastmidsaver

i got the email last night,  and today it is showing as 3.2% in the Santander app,  so have transferred it over from Chase. 

Band7

MX5huggy said:

Band7 said:

MX5huggy said:

Chase vs Santander 

Santander take the lead “within 5 days” so when is that? Move the money on Wednesday night? 

The instant access lead has been standing at 3.4% since March 7.

I just have these 2 with current accounts I use, can’t be bothered with others for what would be about £10 per year extra. Anymore gets put to work elsewhere. 

Whether it’s £10 or any other amount for you, it is simply not true that Santander lead the instant access offerings which have always been far numerous than only Chase and Santander

Stargunner

Band7 said:

MX5huggy said:

Band7 said:

MX5huggy said:

Chase vs Santander 

Santander take the lead “within 5 days” so when is that? Move the money on Wednesday night? 

The instant access lead has been standing at 3.4% since March 7.

I just have these 2 with current accounts I use, can’t be bothered with others for what would be about £10 per year extra. Anymore gets put to work elsewhere. 

Whether it’s £10 or any other amount for you, it is simply not true that Santander lead the instant access offerings which have always been far numerous than only Chase and Santander

They are not the market leader, but they are competitive again. Some people are not comfortable with the ‘open banking’ procedure that CHIP use.