The New Top Easy Access Savings Discussion Area

RedImp_2

refluxer said:

KevinG said:

And from 19 February 2025 it changes to 1.5%, that was the big change I had in mind and I'd forgotten it hadn't happened yet.

Well spotted. This change wasn't spelt out in the email sent out about the rate drop on 14th November but, instead, relied upon you clicking on a link. 

For more information on our interest rates and upcoming changes to them, please visit our interest rates page.

I hadn't clicked on that because I presumed the page would simply outline the effect the BoE rate drop would have on both the boosted and non-boosted Chase Saver accounts. 

With that drop from -1.25% to -1.5%, it'll make the non-boosted account very uncompetitive and I suspect they'd need to repeat the most recent 1.5% boost (rather than revert to the previous 1%) for even any future boosted accounts to be worthwhile.

I’ve literally had an e-mail from them saying this only this afternoon.

refluxer

RedImp_2 said:

refluxer said:

KevinG said:

And from 19 February 2025 it changes to 1.5%, that was the big change I had in mind and I'd forgotten it hadn't happened yet.

Well spotted. This change wasn't spelt out in the email sent out about the rate drop on 14th November but, instead, relied upon you clicking on a link. 

For more information on our interest rates and upcoming changes to them, please visit our interest rates page.

I hadn't clicked on that because I presumed the page would simply outline the effect the BoE rate drop would have on both the boosted and non-boosted Chase Saver accounts. 

With that drop from -1.25% to -1.5%, it'll make the non-boosted account very uncompetitive and I suspect they'd need to repeat the most recent 1.5% boost (rather than revert to the previous 1%) for even any future boosted accounts to be worthwhile.

I’ve literally had an e-mail from them saying this only this afternoon.

A change like that did need to be clearly stated in a a direct communication and not hidden away in a link, IMO. Makes you wonder whether they monitor this thread !

Bridlington1

@soulsaver

Chase 6 mth svr now 5%

Chip Easy Access Saver 4.72%

jak22

The boost available for new Chase accounts opened since the 9th seems now to be 1.5% for 6 months - so a total of 5% until the 19th Feb increase in the BoE difference from 1.25% currently and with a BoE meeting on Feb 6th.

Although this is unlikely to be of interest to existing customers with a boost expiring in a month.

Cynergy's new website from next year mentions no longer needing the authenticator app to log in.

soulsaver

jak22 said:

The boost available for new Chase accounts customers since the 9th seems now to be 1.5% for 6 months - so a total of 5% until the 19th Feb increase in the BoE difference from 1.25% currently and with a BoE meeting on Feb 6th.

Although this is unlikely to be of interest to existing customers with a boost expiring in a month.

Cynergy's new website from next year mentions no longer needing the authenticator app to log in.

Some may think it pedantic... but there is a big difference.

Mr._H_2

I use Chase for some savings as it supports outgoing direct debits and standing orders. Are there any accounts other than the Kroo current account that also support DD and SO but pay more interest?

Cobbler_tone

I'll have my eyes peeled here in early Jan but I think most people chasing half decent easy access saving products are going to be disappointed. I would personally only 'Chase' something beating my rate by 0.5% or more. Maybe they will introduce a new boosted rate if they start dropping customers.

jak22

When the Chase bonus on older accounts ends in a month's time the rate drops to 3.5% AER, then if the next BoE on Feb 6th decides on a 0.25% fall the rate would drop to 3.25% and then to 3% on Feb 19th. Although it's logical to keep some funds available with Instant Access, many may be inspired to move when the bonus ends - for example there's Gatehouse at 4.75% AER for Easy Access, Tandem at 4.4% AER for Instant Access, or Atom at 4.85% if no withdrawals, to mention just a few above a 0.5% margin.

Cobbler_tone

jak22 said:

When the Chase bonus on older accounts ends in a month's time the rate drops to 3.5% AER, then if the next BoE on Feb 6th decides on a 0.25% fall the rate would drop to 3.25% and then to 3% on Feb 19th. Although it's logical to keep some funds available with Instant Access, many may be inspired to move when the bonus ends - for example there's Gatehouse at 4.75% AER for Easy Access, Tandem at 4.4% AER for Instant Access, or Atom at 4.85% if no withdrawals, to mention just a few above a 0.5% margin.

Thank you. Most of my savings are now going to 4 x regular savers and my pension. Probably not worth me opening another to chase pennies, plus I do really like Chase. Hopefully they open a new boost or regular saver at some point. 7 accounts is enough for me!

dgpur

Just a reminder that Ford Money’s rate went from 4.75% to 4.5% yesterday.