Best savings account

soulsaver

You need a Virgin Money current ac to get their Exclusive 1 yr fixed ISA 5.25%. 

You can add to it up to 30 days after it's withdrawn (FTAOD, assuming you've already opened it). 

So, even if you fund it with your £5k now (from your 23/24 allowance), even if it was then withdrawn, the funding extension will take you past the 6th April (new tax year) so you can add more, which will be from your 2024/25 allowance.

You could also start a transfer in during that period to happen after (but within 6 weeks).

Catbells

On the Virgin site it asks if you have an account with YBS and another - can't remember which now.

allegro120

Catbells said:

Thanks Im interested in this too.  Is it for one or two years?  Can I add to it after April 4th if I open it now with £5000? 

Virgin ISA issue 11 matures on 31st March 2025.  You can add to it up to £20k in total before 6th April and another £20k from 6th April. 

Catbells

I think you can purchase this ISA if you have an account with YBS.

eskbanker

Catbells said:

On the Virgin site it asks if you have an account with YBS and another - can't remember which now.

As above, I can't think of any reason why they'd have anything to do with YBS (Yorkshire Building Society), but Yorkshire Bank is part of their group, alongside Clydesdale.  Where are you seeing reference to YBS - do you have a screenshot?

allegro120

Catbells said:

On the Virgin site it asks if you have an account with YBS and another - can't remember which now.

It's not YBS (Yorkshire Building Society), but Yorkshire bank.  The other one is Clydesdale bank.  Both merged with Virgin a few years ago.  If you don't have a current account with Virgin you can open one.  It is easy to open, but can take up to a week to be processed (my OH was told that on the phone today) so you have to act quickly if you want to use this year's ISA allowance. As soon as your current account is live opening ISA takes only a few minutes to open and be ready for funding.

Catbells

Yes, you're right it's Yorkshire Bank not YBS.  I confused the two.  Thanks to you both.  Better get a move on as you say!

PoGee

Bridlington1 said:

First of all I wouldn't bother with the Santander Edge Up account. The interest rate is only 3.5%, which is pretty poor compared to other easy access accounts (several pay over 5%). If you're going to upgrade your Santander account you'd be better off going for the Santander Edge current account which still gives you the cashback on bills etc but also gives you access to the Santander Edge Saver which pays 7% on balances of £4k or less.

A few links that would probably be of use (remember to click rate order when using these links):
For a list of the top easy access accounts see:
https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/?quick-links-first=false

For a list of the top easy access cash ISAs see:
https://moneyfactscompare.co.uk/isa/easy-access-cash-isas/?quick-links-first=false
 

I used their 'calculator'. With putting 4k in the 7% account + cashbacks, the amount was £350 but putting £25k in the edge up account, it came to £750 in interest and cashbacks. I've a lot of DDs and a bit lazy when it comes to setting up account/s with another bank. The £350 v £750 is with taking off the monthly fees. Have I missed something or am I correct with - by putting a higher amount in a lower interest account, I'll receive more in interest?

allegro120

PoGee said:

Bridlington1 said:

First of all I wouldn't bother with the Santander Edge Up account. The interest rate is only 3.5%, which is pretty poor compared to other easy access accounts (several pay over 5%). If you're going to upgrade your Santander account you'd be better off going for the Santander Edge current account which still gives you the cashback on bills etc but also gives you access to the Santander Edge Saver which pays 7% on balances of £4k or less.

A few links that would probably be of use (remember to click rate order when using these links):
For a list of the top easy access accounts see:
https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/?quick-links-first=false

For a list of the top easy access cash ISAs see:
https://moneyfactscompare.co.uk/isa/easy-access-cash-isas/?quick-links-first=false
 

I used their 'calculator'. With putting 4k in the 7% account + cashbacks, the amount was £350 but putting £25k in the edge up account, it came to £750 in interest and cashbacks. I've a lot of DDs and a bit lazy when it comes to setting up account/s with another bank. The £350 v £750 is with taking off the monthly fees. Have I missed something or am I correct with - by putting a higher amount in a lower interest account, I'll receive more in interest?

You will get more interest if you put 4k in 7% and 21k in Edge Up.
I personally wouldn't put anything in Edge Up, 3.5% is way too low. 

PoGee

allegro120 said:

PoGee said:

Bridlington1 said:

First of all I wouldn't bother with the Santander Edge Up account. The interest rate is only 3.5%, which is pretty poor compared to other easy access accounts (several pay over 5%). If you're going to upgrade your Santander account you'd be better off going for the Santander Edge current account which still gives you the cashback on bills etc but also gives you access to the Santander Edge Saver which pays 7% on balances of £4k or less.

A few links that would probably be of use (remember to click rate order when using these links):
For a list of the top easy access accounts see:
https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/?quick-links-first=false

For a list of the top easy access cash ISAs see:
https://moneyfactscompare.co.uk/isa/easy-access-cash-isas/?quick-links-first=false
 

I used their 'calculator'. With putting 4k in the 7% account + cashbacks, the amount was £350 but putting £25k in the edge up account, it came to £750 in interest and cashbacks. I've a lot of DDs and a bit lazy when it comes to setting up account/s with another bank. The £350 v £750 is with taking off the monthly fees. Have I missed something or am I correct with - by putting a higher amount in a lower interest account, I'll receive more in interest?

You will get more interest if you put 4k in 7% and 21k in Edge Up.
I personally wouldn't put anything in Edge Up, 3.5% is way too low. 

The 7% account is a savings account linked with the santander edge account. I don't think customers with the edge up account can get that savings (7%) account.

I'm now looking at the Skipton one as it offers 4.8% on balances over 20k without need to open a current account like you need to with the Virgin easy access cash ISA. Need to get a move on before the April 2024 tax year end.