The New Top Easy Access Savings Discussion Area

KevinG

happybagger said:

friolento said:

slinger2 said:

friolento said:

Be very careful with the Moneybox ISA. Your interest is not FSCS protected.

"We use a range of third party partner banks to power our Cash ISA, all of which are FSCS protected for up to £85,000. Note that the proportion of money held with each bank may change over time."

That statement is at best misleading.

Everyone can check in their app

Presumably that means "interest accrued but not yet added"?

I agree, can't see a problem with that. 

friolento

happybagger said:

friolento said:

slinger2 said:

friolento said:

Be very careful with the Moneybox ISA. Your interest is not FSCS protected.

"We use a range of third party partner banks to power our Cash ISA, all of which are FSCS protected for up to £85,000. Note that the proportion of money held with each bank may change over time."

That statement is at best misleading.

Everyone can check in their app

Presumably that means "interest accrued but not yet added"?

sure. They only add interest once a year.

friolento

KevinG said:

happybagger said:

friolento said:

slinger2 said:

friolento said:

Be very careful with the Moneybox ISA. Your interest is not FSCS protected.

"We use a range of third party partner banks to power our Cash ISA, all of which are FSCS protected for up to £85,000. Note that the proportion of money held with each bank may change over time."

That statement is at best misleading.

Everyone can check in their app

Presumably that means "interest accrued but not yet added"?

I agree, can't see a problem with that. 

I can. Your interest is not added to your balance until anniversary of the account. So you have interest unprotected for up to 1 year.

If you use the account for small sums of easy access money, you might not care. If you use the account for several years worth of ISA, it could be thousands at risk.

In contrast, TRading 212 adds the interest to your balance on a daily basis. Mind you, they have other issues, so it's from the devil into the deep blue sea.

sta0612

friolento said:

KevinG said:

happybagger said:

friolento said:

slinger2 said:

friolento said:

Be very careful with the Moneybox ISA. Your interest is not FSCS protected.

"We use a range of third party partner banks to power our Cash ISA, all of which are FSCS protected for up to £85,000. Note that the proportion of money held with each bank may change over time."

That statement is at best misleading.

Everyone can check in their app

Presumably that means "interest accrued but not yet added"?

I agree, can't see a problem with that. 

I can. Your interest is not added to your balance until anniversary of the account. So you have interest unprotected for up to 1 year.

If you use the account for small sums of easy access money, you might not care. If you use the account for several years worth of ISA, it could be thousands at risk.

In contrast, TRading 212 adds the interest to your balance on a daily basis. Mind you, they have other issues, so it's from the devil into the deep blue sea.

What issues do you think Trading 212 has?

KevinG

SAC2334 said:

Way it's going it's remaining empty and I will find somewhere else for my Chase money which dropped to 3.75 % on 4 th Nov 

I got the email telling me it would but it didn't. If you follow the link from the account it says the bonus is staying until 16 Jan 2025.

KevinG

KevinG said:

Lynsey89 said:

 KevinG said:

Lynsey89 said:

I’m trying to pay my first deposit into my Chetwood account but it keeps saying ‘name doesn’t match’ is there something else I’m meant to put under payee full name? Can anyone help? 

What are you trying to put in? It's usually your name, as on the account.

Just realised I have to put their name as payee name, so Chetwood Bank. 

I've just opened my account and the email I got clearly said this. 

What they don't tell you is that it counts as a business account, not personal.

pokemaster

NS&I Direct Saver

not top of the charts but received an email saying the interest rate will change on 20th Nov

Current: 4%

New Rate: 3.75%

HHUK

pokemaster said:

NS&I Direct Saver

Not top of the charts but received an email saying the interest rate will change on 20th Nov

Current: 4%  New Rate: 3.75%

Still a handy repository for those of us who like to pay the occasional £1.01 from our NatWest and and RBS current accounts by debit card in order to boost our regular saver balances

Middle_of_the_Road

KevinG said:

SAC2334 said:

Way it's going it's remaining empty and I will find somewhere else for my Chase money which dropped to 3.75 % on 4 th Nov 

I got the email telling me it would but it didn't. If you follow the link from the account it says the bonus is staying until 16 Jan 2025.

November was for the first issue. If you have the second issue it's January.

I opened the first issue, and when the later version was released I closed mine and opened the second issue to extend the bonus.

KevinG

Middle_of_the_Road said:

KevinG said:

SAC2334 said:

Way it's going it's remaining empty and I will find somewhere else for my Chase money which dropped to 3.75 % on 4 th Nov 

I got the email telling me it would but it didn't. If you follow the link from the account it says the bonus is staying until 16 Jan 2025.

November was for the first issue. If you have the second issue it's January.

I opened the first issue, and when the later version was released I closed mine and opened the second issue to extend the bonus.

That's what I thought but my rate is still 4.75% and the link makes no mention of an earlier date.