General Discussion and Whimsical Banter

inkydolphin

It's easy to forget that the current rates are still relatively low compared to some other times. Feels like they won't go up again but then again they could - ah the eternal quandary of the potential fixer.

Janie2008

Dec 2024 at 4.25, doesn't seem so bad now. 

claire07

I've got two 3 year fixed rate bonds maturing in March this year - one is 0.80 and the other 0.85.  Can't wait to move them somewhere reasonable!

Ocelot

I have 40k at 1.7% expiring on 27 Feb, half of which I intend to put into an ISA for 24/25

Bridlington1

I've just noticed Wealthify have entered the savings market with an Instant Access Account at 4.91% (4.8% gross) which currently tracks 0.45% gross below the base rate. They can change the amount it tracks by giving 14 days notice.

ircE

Anyone else intrigued as to why the robo-adviser arm of a pensions provider has moved into the EA savings market?

wmb194

ircE said:

Anyone else intrigued as to why the robo-adviser arm of a pensions provider has moved into the EA savings market?

Probably as an easy way to make some money on the net interest margin and a way to cross-sell its investing 'product.' Quite good idea, actually. I wonder whether other robo-investors will follow suit?

Bridlington1

ircE said:

Anyone else intrigued as to why the robo-adviser arm of a pensions provider has moved into the EA savings market?

In a similar vein I've just noticed Trading 212 are going to be launching a card next month. They will be paying 5% AEY on any uninvested cash as well as offering 0.5% cashback if you spend with the card (up to £20/mth). See:
https://www.trading212.com/cards

It doesn't seem to be clear whether deposits into savings accounts by debit card will be excluded at this stage but it could be one to watch.

pecunianonolet

Bridlington1 said:

ircE said:

Anyone else intrigued as to why the robo-adviser arm of a pensions provider has moved into the EA savings market?

In a similar vein I've just noticed Trading 212 are going to be launching a card next month. They will be paying 5% AEY on any uninvested cash as well as offering 0.5% cashback if you spend with the card (up to £20/mth). See:
https://www.trading212.com/cards

It doesn't seem to be clear whether deposits into savings accounts by debit card will be excluded at this stage but it could be one to watch.

Very interesting also for getting interest in other currencies. The USD and € rates are particular interesting and high. 

EDIT: Upon further reading they are not a bank and cash must be invested into QMMF so their is a risk, even probably small, of the value changing. 

https://www.trading212.com/interest-on-cash

Also, it looks like because they are not a bank any interest will not be reported to HMRC in the normal fashion so it means registering for self assessment and adding the interest figures.  

Bridlington1

I've just noticed SRBS have rebranded themselves to ``The Stafford Building society". The website seems to have changed quite a bit in the process too.