The New Top Easy Access Savings Discussion Area

bilko89

Bobblehat said:

bilko89 said:

refluxer said:

bilko89 said:

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) ? 

Your first decision needs to be whether you need truly instant access to your easy access savings or whether you'd be prepared to wait for a period of a few hours to the next working day. You'll also need to decide whether you're happy with app-only banking, as some of the better rates are from app-only banks (Chase, Tandem etc).

The table on this thread might be useful...

https://forums.moneysavingexpert.com/discussion/comment/81203642/#Comment_81203642

Thanks for your reply, appreciate it! 

I didn't even know there was such a thing, when I say Easy Access I assumed next working day.

Using Monzo right now so very comfortable using app only banking, so happy to look into Chase as per @woodwardM as I would be a new customer. 

I don't have any savings at the moment at all so starting completely from scratch from January's salary at the end of the month. 

Good luck on your journey ... you're in the right place for help and ideas!

Been through a tough time recently, mostly of my own doing but determined to get my finances in order for my kids and for myself ultimately as well!

Love it here, long time dweller but action feels so much better than just talking about action.

flobbalobbalob

FYI: Chetwood Bank Easy Access account:

Deposit arrived after approx. 50 minutes.
Withdrawal arrived next day approx. 10:00 am.

soulsaver

WoodwardM said:

bilko89 said:

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) ? 

As per Refluxer, the best one is Chase, but this 5% rate is for NEW chase customers only.  So if you're an olf Chase customer the next best one (not listed in table as you need £5k+ to get this rate) is Ulster Loyalty Saver which pays 4.75%, decreasing to 4.5% on 20/01.  This is truly "within-the-minute" access for payments in & out. NB downside is you need £5k in there to get this rate, otherwise only 1.5%.

Note: Chase 5.0% is for max 6 months only, when it will drop to their open-to-all rate at the time.

Ulster Bank saver is listed in the ToTP 'No Chat' list (No.5 ATM) although it will likely drop off altogether when it reduces - unless the others' reductions catch it up... 

friolento

WoodwardM said:

PS: Sorry I can't give you a link, but I'm not allowed to do that yet (as classed as Newbie).
I haven't mentioned the NuWealth GB Bank saving acct, paying 4.86%, as this takes 1 day to pay in/out.
If Chase/Ulster not an option for you , just follow the "True Instant EA" table in the above link from Refluxer.

@soulsaver This looks a good account for up to £25k, and up to 12 months. Withdrawals next business day only, though https://nuwealthapp.com/gb-bank-easy-access

With thanks to @WoodwardM

soulsaver

friolento said:

WoodwardM said:

PS: Sorry I can't give you a link, but I'm not allowed to do that yet (as classed as Newbie).
I haven't mentioned the NuWealth GB Bank saving acct, paying 4.86%, as this takes 1 day to pay in/out.
If Chase/Ulster not an option for you , just follow the "True Instant EA" table in the above link from Refluxer.

This looks a good account for up to £25k, and up to 12 months. Withdrawals next business day only, though https://nuwealthapp.com/gb-bank-easy-access

With thanks to @WoodwardM

As usual for these type of non bank marketing fronts: It'll get listed - but not ranked.
 

friolento

NuWealth account

Deposits looking disappointingly slow. Whilst Open Banking (via Truelayer) is available, the deposited money goes into Pending and is not added to the balance instantly. 

I haven’t tried Bank Transfer as that looks even slower 

Bridlington1

@soulsaver
Close Brothers EA Issue 5 4.70% £10k min

Stargunner

soulsaver said:

WoodwardM said:

bilko89 said:

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) ? 

As per Refluxer, the best one is Chase, but this 5% rate is for NEW chase customers only.  So if you're an olf Chase customer the next best one (not listed in table as you need £5k+ to get this rate) is Ulster Loyalty Saver which pays 4.75%, decreasing to 4.5% on 20/01.  This is truly "within-the-minute" access for payments in & out. NB downside is you need £5k in there to get this rate, otherwise only 1.5%.

Note: Chase 5.0% is for 6 months only, when it will drop to their open-to-all rate at the time.

Ulster Bank saver is listed in the ToTP 'No Chat' list (No.5 ATM) although it will likely drop off altogether when it reduces - unless the others' reductions catch it up... 

The 5% boosted rate for new customers will drop to 4.75% from the 19th February when Chase reduce their saver account AER from 1.25% to 1.5% below the BOE base rate.”

friolento

soulsaver said:

friolento said:

WoodwardM said:

PS: Sorry I can't give you a link, but I'm not allowed to do that yet (as classed as Newbie).
I haven't mentioned the NuWealth GB Bank saving acct, paying 4.86%, as this takes 1 day to pay in/out.
If Chase/Ulster not an option for you , just follow the "True Instant EA" table in the above link from Refluxer.

This looks a good account for up to £25k, and up to 12 months. Withdrawals next business day only, though https://nuwealthapp.com/gb-bank-easy-access

With thanks to @WoodwardM

As usual for these type of non bank marketing fronts: It'll get listed - but not ranked.
 

It's an account by GB Bank, who have held a full UK banking licence since August 2022.

It seems an arbitrary exclusion when the likes of Chip are in your rankings.

UVRay

MichaelAP said:

moi said:

SeriousHoax said:

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.

Same, but am I miss-remembering this or was there previously only one withdrawl per year allowed before the rate dropped? It's now 3 per year on this new rate and it's also saying 3 per year in the account details on the app for my old account.