Savings accounts where interest does not remain stuck at start rate?

cretaceous

Thanks for all the helpful comments. Will decide between Ford or Chip I think.

Looking at one site it says they only show new interest rates on the website and in the branches - there's no email to customers. They make it awkward because they can get away with it. 

Stuff the customer is the order of the day it seems.

Malchester

I have a Ford asy Access Account and I am sure I get an email when rates change

jimjames

Chip and Virgin both increase rates for existing accounts regularly

refluxer

cretaceous said:

Are there ANY of the better savings rate offers where the institution treats it's customers ethically and with respect, or they all out to get you however they can?

If you want an easy access account where rate rises are applied to all holders of that account, then a good tip is to find one that doesn't have an issue number associated with it. Issue numbers are normally stated on the account product page but it's also worth checking the KPI /summary box document, just in case.

Off the top of my head, Ford Money, Zopa, Marcus, Atom, Tandem and Chase are some of the banks who apply interest rate changes to all holders of their easy access accounts (they don't release new issues) and of those, Ford Money and Tandem are the two who've been closest to the top of the easy access interest rate table in recent months. What myself and other forumites do is open a number of these accounts and then move money between them, depending on who is offering the best rate at the time.

When choosing an easy access account, just make sure you bear in mind your access/withdrawal requirements as this can range from instant to next day and many of the top-paying accounts also restrict the number of withdrawals you can carry out each year.

AndrewSteele888

It will be interesting to see what happens when rates eventually go down but Iam sure this multi Issues accounts will still go down.

KevinG

MX5huggy said:

Chase have been fairly consistent in pushing their savings rate up (currently 3.8%) on easy access and have not left anyone behind, they’ve even introduced 1% on the current account balance. 

Well yes, but 3.8% is now a long way behind.

Bigwheels1111

Chip is my choice for my emergency fund, good rate and instant access.
Plus an ISA with a low interest penalty, £200 fine to get 10k in a hurry is ok with me.

aaj123

Does Cynergy ever update the interest rates on existing issues? This is a real problem for their notice accounts as for those, you cannot even move your money to newer issues. 

LHW99

RCI Freedom Savings updates rates for everyone. Currently 4.2% and instant access - allowing for transfer to the "nominated account", so usually a couple of working days.

Malchester

LHW99 said:

RCI Freedom Savings updates rates for everyone. Currently 4.2% and instant access - allowing for transfer to the "nominated account", so usually a couple of working days.

RCI are not 'instant' access but 'easy' access. Funds withdrawn  not always available in linked account same day, more often next working day - Friday afternoon withdrawals notavailableuntilMonday.   Investec, Marcus, Zopa and Chip are more instant.