Wealthify Instant Savings Account

mcouriers

Hi all I'm looking for somewhere else to put some of savings after Santander have reduced the interest rate on my Easy Access Saver Limited Edition Issue 3. I'd like to keep it open due to I'm a sole trader & I can transfer money to my Business Current Account Instantly. I've also got a Natwest Flexible Saver so that I can instantly transfer money to my Natwest Personal Current account instanty as well. Has anyone opened a Wealthify Instant Savings Account? Also how long do Withdrawals & Deposits take? I like the fact it's linked to the Base Rate & pays monthly interest. I have also considered Yorkshire Building Society Easy Access Saver ( I have other YBS Accounts as well), but it only pays interest annually. Any thoughts and anyone's experiences on the Wealthify Instant Savings Account would be much appreciated or should I open the Yorkshire Building Society accounts instead? Many thanks for any help.

Martico

I've got one, you can only deposit to or withdraw from your nominated bank account, and it's close to instant (hour at most in my experience - I've only made a few deposits and / or withdrawals)

artyboy

I already had a small Wealthify investment (for the Cashback offer) and decided to open the savings account as an easy option to park a bit into - very simple to operate and near instantaneous transfers in/out. Not the absolute top rate available, but good enough for me at the moment.

mcouriers

Martico said:

I've got one, you can only deposit to or withdraw from your nominated bank account, and it's close to instant (hour at most in my experience - I've only made a few deposits and / or withdrawals)

Thank you. It's just in case I have some excess money I may need. I like the Santander account due to being able to transfer Instanty , plus there is Branch access just in case there is a problem with the app or online banking. An hour transfer time seems pretty quick so at least I know it's worth considering. 

mcouriers

artyboy said:

I already had a small Wealthify investment (for the Cashback offer) and decided to open the savings account as an easy option to park a bit into - very simple to operate and near instantaneous transfers in/out. Not the absolute top rate available, but good enough for me at the moment.

artyboy said:

I already had a small Wealthify investment (for the Cashback offer) and decided to open the savings account as an easy option to park a bit into - very simple to operate and near instantaneous transfers in/out. Not the absolute top rate available, but good enough for me at the moment.

Thank you. It looms like the transfer times are pretty quick. It's not the top rate, but I like the fact it tracks 0.45% below the base rate, so at least it can't be cut more than the present margin. 

notyourrealname

Good to know it works fairly quickly and seamlessly, I'm intrigued why it does not appear to be listed in the MSE website page that details all the best-buy savings accounts, anyone know any reason why not? It's run by Clearbank which would be covered by the FSCS guarantee.

mcouriers

notyourrealname said:

Good to know it works fairly quickly and seamlessly, I'm intrigued why it does not appear to be listed in the MSE website page that details all the best-buy savings accounts, anyone know any reason why not? It's run by Clearbank which would be covered by the FSCS guarantee.

Hi that's what I've been thinking. For example Yorkshire Building Society pays 4.80% (this account is in the best buys on MSE) which is less than Wealthify, but I'm wondering if it's due to being a well known name. The Wealthify account is in the best buys on This is Money & Moneyfacts . I'm also wondering if it's due to Wealthify not holding your money when it's transferred to Clearbank. I wish Yorkshire Building would offer monthly interest on this account. Hopefully someone maybe able to explain why.