Hargreaves Lansdown active savings

Doctor_Who

Yes, HL only list two cash ISA options via Coventry BS on their Active savings webpage:

https://www.hl.co.uk/investment-services/active-savings/cash-isa

You can probably get better rates elsewhere:

https://moneyfactscompare.co.uk/isa/easy-access-cash-isas/

Audaxer

Section62 said:

NannaH said:

I have a Sipp and ISA with HL and today noticed the Active savings hub,  basically you can have various savings accounts via this hub so you can just use one log in.
They have an Easy access account with Allica paying 4.4% currently, so for 5 minutes faffing online,  our joint EA account paying less than 2% is now in there paying 4.4%,  you can put from £1 - £250k in there, usual fscs protection applies. 

There are EA, limited access and fixed rates available. 

Two things to note -

1)  There can be delays transferring money to/from the 'hub' and the chosen account.  In the case of fixed rate accounts this can sometimes be a week or more.  Money in the 'hub' earns no interest.

I've never experienced any delays with money going to and from the hub. When I have moved money out of one Easy Access account into the hub to fund a new Easy Access account with a higher interest rate, the transfer of funds in and out of the hub has been instant.

If it's a fixed rate account and it says apply by say, 29/10/23, I'm sure it means you could open it today to secure the fixed rate, but you can still wait until the 29/10/23 to fund it as it won't start earning interest until that date.

ColdIron

Moving in and out of the cash hub is usually very fast, often instantaneous

But with fixed term accounts the cash hub isn't the issue. There are 2 dates to be aware of

1. The Apply by date by which you must apply to secure the rate. Cash moves out of the cash hub immediately
2. The Start date when the account starts to earn interest. This can be 2 to 5 days (IME) after the apply by date

Of course the account may be pulled before the apply by date if it's a popular one so you don't want to leave it until the last minute which extends the non interest earning period

I have no problem with it, it's just the way HL work, but worth bearing in mind