Santander Easy Access Limited Edition

ToastLady

daz_f said:

I have notice on a HTB account with 10k in it that’s due in my account Nov 13th 
Is it worth opening this Santander account with minimum funds then transfer the 10k in Nov

or just see what accounts are available nearer Nov 

I'd say it's worth opening now. If better rates are available in November, then easy to open another account. You've got nothing to lose.
That's what I've done anyway, as I've got a couple of fixed savers maturing in October. I snaffled money out of my easy access account with Tandem to fund NSI bonds, so want to top up easy access with some from maturing fixed savers.

friolento

Hattie627 said:

Sorry if this has already been discussed. I'm finding it difficult to keep up given how quickly things are changing and moving.....

Those with (up to) £5K in the Barclays Rainy Day Saver, are you moving this to your new Santander Easy Access Limited Edition?

The Barclays account shows AER of 5.13%, with 5% the gross rate (the interest is paid monthly).

The Santander is 5.20% AER (irrespective of annual or monthly interest),

Using the AER for comparison, It seems that Santander is narrowly beating the Barclays RDS, but there may be other reasons to keep some money in the Barclays RDS.

Any thoughts?

If you kept £5,000 in your accounts every day for 365 days, the difference between the Barclays RDS and the Santander 5.2% would be £1o, in Santander's favour. You need to weigh this against the risk of having all your cash in one place rather than two.

I have reduced my RDS balance to £4,800 so I don't have to bother with the monthly skimming off of the interest. The rest is in Santander.

refluxer

daz_f said:

I have notice on a HTB account with 10k in it that’s due in my account Nov 13th 
Is it worth opening this Santander account with minimum funds then transfer the 10k in Nov

or just see what accounts are available nearer Nov 

As above - I would open it now if you're interested in it, as you've got nothing to lose by doing so.

If the competition don't raise their game in the coming days and weeks, it's possible that this account may get withdrawn before their stated date (17th Sept) if they get a big influx of funds - I'm pretty sure the eSaver Special Edition (a previous incarnation of this account) wasn't around for long when it was launched at a high rate last October.

PixelPound

daz_f said:

I have notice on a HTB account with 10k in it that’s due in my account Nov 13th 
Is it worth opening this Santander account with minimum funds then transfer the 10k in Nov

or just see what accounts are available nearer Nov 

It's a limited release, so will it still be available in November? If there are better accounts then, you don't have to put the funds in this.

Swipe

nic_c said:

daz_f said:

I have notice on a HTB account with 10k in it that’s due in my account Nov 13th 
Is it worth opening this Santander account with minimum funds then transfer the 10k in Nov

or just see what accounts are available nearer Nov 

It's a limited release, so will it still be available in November? If there are better accounts then, you don't have to put the funds in this.

This issue is available until 17 September 2023 unless sold out sooner.

Hattie627

friolento said:

Hattie627 said:

Sorry if this has already been discussed. I'm finding it difficult to keep up given how quickly things are changing and moving.....

Those with (up to) £5K in the Barclays Rainy Day Saver, are you moving this to your new Santander Easy Access Limited Edition?

The Barclays account shows AER of 5.13%, with 5% the gross rate (the interest is paid monthly).

The Santander is 5.20% AER (irrespective of annual or monthly interest),

Using the AER for comparison, It seems that Santander is narrowly beating the Barclays RDS, but there may be other reasons to keep some money in the Barclays RDS.

Any thoughts?

If you kept £5,000 in your accounts every day for 365 days, the difference between the Barclays RDS and the Santander 5.2% would be £1o, in Santander's favour. You need to weigh this against the risk of having all your cash in one place rather than two.

I have reduced my RDS balance to £4,800 so I don't have to bother with the monthly skimming off of the interest. The rest is in Santander.

Good point. The difference is minimal (at the moment). I will keep the Barclays RDS open, but move a small amount to Santander.

Johnny-Cage

Thx for the replies application done 

Ifts

Hal17 said:

Does anyone know if you can upgrade a current Easy Access Account to this latest edition? I have an account currently paying 4.2%.

Unfortunately not - it is quick to open a new one, though I can see why you are asking as it would have certainly been easier if Santander did allow you to upgrade to the latest issue and keep the same account number, as it saves setting up new payee details. 

begbeer1987

my santander regular saver only paying 5%, so have dropped how much I put into it to £20., rest can go into easy access saver at 5.2%

jaypers

begbeer1987 said:

my santander regular saver only paying 5%, so have dropped how much I put into it to £20., rest can go into easy access saver at 5.2%

I stopped paying into mine altogether and moved all of the money out. You can close now and get the interest or just let it mature at a later date. I’ve left mine as can’t be bothered to call them.