Chip Instant Access goes to 3.55% as from tomorrow

Hattie627

As per title. Email just received. I will need to consider which of my regular savers to close or stop feeding.

Stargunner

Are your regular savers not earning you more interest than they would in chip

ForumUser7

Stargunner said:

Are your regular savers not earning you more interest than they would in chip

I was going to fund Buckinghamshire BS at 3.5% this month, but I'll need to wait and see if this goes up and if so, by how much

Hattie627

Most currently-held RS accounts beat 3.55% but there is the odd fixed rate one below that, and a few variable rate ones which have not kept up with rising rates (Chorley BS and Melton BS spring to mind, but I need to do a detailed review in the light of the last base rate rise).

allegro120

Very quick response to Tandem.  In one of their communications they said "As you know, we always strive to keep the Chip Instant Access Account rate highly competitive, and market leading whenever possible." 

valiant24

On the website it says "Your money may be protected up to £85,000 [by the FCS] .." (my emphasis).   Why only "may".   Is there something a bit "under the arms" about this organisation?

Band7

valiant24 said:

On the website it says "Your money may be protected up to £85,000 [by the FCS] .." (my emphasis).   Why only "may".   Is there something a bit "under the arms" about this organisation?

As has been mentioned several times before, they have accounts which are not FSCS protected, and others that are. The 3.4% (3.55% from tomorrow) instant access account definitely does have FSCS protection.

valiant24

Band7 said:

valiant24 said:

On the website it says "Your money may be protected up to £85,000 [by the FCS] .." (my emphasis).   Why only "may".   Is there something a bit "under the arms" about this organisation?

As has been mentioned several times before, they have accounts which are not FSCS protected, and others that are. The 3.4% (3.55% from tomorrow) instant access account definitely does have FSCS protection.

Thanks.  I hadn't seen threads prior to this one, so you've explained it.  Might take a look though it has two features off-puutting to me:

1. App only (I much prefer to use a PC)
2. Card deposit only (I much prefer to use bank transfer).

Cheers
V

VXman

valiant24 said:

Band7 said:

valiant24 said:

On the website it says "Your money may be protected up to £85,000 [by the FCS] .." (my emphasis).   Why only "may".   Is there something a bit "under the arms" about this organisation?

As has been mentioned several times before, they have accounts which are not FSCS protected, and others that are. The 3.4% (3.55% from tomorrow) instant access account definitely does have FSCS protection.

Thanks.  I hadn't seen threads prior to this one, so you've explained it.  Might take a look though it has two features off-puutting to me:

1. App only (I much prefer to use a PC)
2. Card deposit only (I much prefer to use bank transfer).

Cheers
V

  You can top it up with bank transfers from your linked bank. That's what we do. Link Chip to your current account. Go to Chip and top up your account. It will take it from your linked account. 

I'm a PC user, and a table user, and a phone user. I find the app/phone so much easier, quicker on all my accounts. Finger print ID, no fussing with usernames/passwords etc.

valiant24

VXman said:

  You can top it up with bank transfers from your linked bank. That's what we do. Link Chip to your current account. Go to Chip and top up your account. It will take it from your linked account. 

I'm a PC user, and a table user, and a phone user. I find the app/phone so much easier, quicker on all my accounts. Finger print ID, no fussing with usernames/passwords etc.

Thanks.  I wasn't originally offered the chance to link a bank account, just a card, but once the card I was offered it, so all good.

Noted your preference for banking by app.   I prefer PC.  Each to their own ... but I don't like not being given the choice.

Bobziz

Easy access getting very close to returns from MM funds now and with zero risk up to £85k.