The New Top Easy Access Savings Discussion Area

SeriousHoax

Bridlington1 said:

@soulsaver

Chip Easy Access Saver nudges up from 4.72% to 4.85%

Chetwood Bank Easy Access Account  slips from 4.71% to 4.66%

I've got chip easy access from a few weeks ago and it's still showing 4.75% when will it show the new4.85%

simonsmithsays

soulsaver said:

Dear Furness BS Member

Interest rate decrease to Double Access Saver (NLA 11/11/24)

We regularly review our savings interest rates to take into account what’s happening in the wider financial marketplace and we’re writing to let you know the interest rate on your savings is going to change. 

As you may be aware, the Bank of England decreased the Base Rate on 7th November 2024 and it is now at 4.75%.  As a result of this, we’re changing the interest rate on your savings with effect from 20th January 2025. 

Below is a summary of the changes:

Current Rate	New Rate	Effective Date
4.90% Gross/AER*	4.65% Gross/AER*	20th January 2024

Can anyone recall or point me to, if there was, a minimum that had to be held in this account please?

I've not recorded (any minimum) on my spreadsheet.

TIA

moi

SeriousHoax said:

Bridlington1 said:

@soulsaver

Chip Easy Access Saver nudges up from 4.72% to 4.85%

Chetwood Bank Easy Access Account  slips from 4.71% to 4.66%

I've got chip easy access from a few weeks ago and it's still showing 4.75% When will it show the new 4.85% [?]

 It's the bonus they've increased, from 0.93% to 1.03% not the underlying variable tracker rate of 3.82% AER/3.75% Gross. I guess that means it's only for new customers/accounts. Not those of us who opened with 1 year 0.93% bonuses. 

soulsaver

simonsmithsays said:

soulsaver said:

Dear Furness BS Member

Interest rate decrease to Double Access Saver (NLA 11/11/24)

We regularly review our savings interest rates to take into account what’s happening in the wider financial marketplace and we’re writing to let you know the interest rate on your savings is going to change. 

As you may be aware, the Bank of England decreased the Base Rate on 7th November 2024 and it is now at 4.75%.  As a result of this, we’re changing the interest rate on your savings with effect from 20th January 2025. 

Below is a summary of the changes:

Current Rate	New Rate	Effective Date
4.90% Gross/AER*	4.65% Gross/AER*	20th January 2024

Can anyone recall or point me to, if there was, a minimum that had to be held in this account please?

I've not recorded (any minimum) on my spreadsheet.

TIA

I didn't report any, but I generally don't if it's as low as £1 - so 'Nil' or £1.

ForumUser7

simonsmithsays said:

soulsaver said:

Dear Furness BS Member

Interest rate decrease to Double Access Saver (NLA 11/11/24)

We regularly review our savings interest rates to take into account what’s happening in the wider financial marketplace and we’re writing to let you know the interest rate on your savings is going to change. 

As you may be aware, the Bank of England decreased the Base Rate on 7th November 2024 and it is now at 4.75%.  As a result of this, we’re changing the interest rate on your savings with effect from 20th January 2025. 

Below is a summary of the changes:

Current Rate	New Rate	Effective Date
4.90% Gross/AER*	4.65% Gross/AER*	20th January 2024

Can anyone recall or point me to, if there was, a minimum that had to be held in this account please?

I've not recorded (any minimum) on my spreadsheet.

TIA

soulsaver said:

simonsmithsays said:

soulsaver said:

Dear Furness BS Member

Interest rate decrease to Double Access Saver (NLA 11/11/24)

We regularly review our savings interest rates to take into account what’s happening in the wider financial marketplace and we’re writing to let you know the interest rate on your savings is going to change. 

As you may be aware, the Bank of England decreased the Base Rate on 7th November 2024 and it is now at 4.75%.  As a result of this, we’re changing the interest rate on your savings with effect from 20th January 2025. 

Below is a summary of the changes:

Current Rate	New Rate	Effective Date
4.90% Gross/AER*	4.65% Gross/AER*	20th January 2024

Can anyone recall or point me to, if there was, a minimum that had to be held in this account please?

I've not recorded (any minimum) on my spreadsheet.

TIA

I didn't report any, but I generally don't if it's as low as £1 - so 'Nil' or £1.

Yes, £1 - https://www.furnessbs.co.uk/media/s4xprge3/double-access-saver-01-11-24-v2.pdf https://www.furnessbs.co.uk/media/t5hb14zo/fbs-anla-25nov.pdf

vernon

Apologies if stating the obvious. Received an email from Chase stating that my boosted savings account ends on January 16 2025, and the interest rate goes down to 3.5% AER. If no further advantageous communication from Chase I shall move my savings elsewhere.

Hattie627

Chetwood Bank EA

I would be disappointed if existing EA accounts at 4.71% AER are to be reduced to 4.66%. It was only within the last month that the rate was increased to 4.71% inducing me to open the account and the bank rate has been steady since November. The terms require 14 days notice for a decrease to be applied to existing accounts.

Stargunner

Hattie627 said:

Chetwood Bank EA

I would be disappointed if existing EA accounts at 4.71% AER are to be reduced to 4.66%. It was only within the last month that the rate was increased to 4.71% inducing me to open the account and the bank rate has been steady since November. The terms require 14 days notice for a decrease to be applied to existing accounts.

0.05% reduction is only a loss of £5 of interest on £10k of savings.

MichaelAP

moi said:

SeriousHoax said:

Bridlington1 said:

@soulsaver

Chip Easy Access Saver nudges up from 4.72% to 4.85%

Chetwood Bank Easy Access Account  slips from 4.71% to 4.66%

I've got chip easy access from a few weeks ago and it's still showing 4.75% When will it show the new 4.85% [?]

 It's the bonus they've increased, from 0.93% to 1.03% not the underlying variable tracker rate of 3.82% AER/3.75% Gross. I guess that means it's only for new customers/accounts. Not those of us who opened with 1 year 0.93% bonuses. 

Yes, bonus rate increase only for new customers. Mine is still at the 0.77% when opened on day one. It is quite disheartening when Chip do this only for new customers, especially when you cannot close the account and start afresh.

bilko89

Sorry if I'm bringing the tone down a bit (you all seem very educated on this topic!) I'm starting my emergency fund and instead of it sitting in my current accounts accompanying savings account (Monzo @ 3.6% AER) I found myself back to old faithful MSE and found this very in depth but confusing for me thread. 

Of course I'd be looking for an easy access account as if I have that emergency, I need the funds fast but I'm just a little confused at where to start to be honest. Is it as easy as picking the first one on the list (the no comment EA Savings thread) ?