The New Top Easy Access Savings Discussion Area

Archerychick

allegro120 said:

wiseonesomeofthetime said:

infoadict said:

Just received an email from Cahoot, saying to check messages regarding interest rate drop.

All Sunny Day Saver rates are dropping to 4.75% on 31st March 2025

Cahoot Sunny Saver
I got the same, however, mine downgrades on 8 March 2025, so do I now get a rate rise (obv not)

One of mine downgrades tomorrow together with 5.12% Simple Saver.  I'll distribute £15k across remaining three 5% Sunnies, but having a bit of dilemma about the rest.  Looking through my endless list of EAs and can't find any better option than transferring the funds to Gatehouse's EARS (pays 5% until the end of this month).  According to my notes weekend deposits to Gatehouse arrive on the same day, I hope my notes are not out of date.    

depends when you make the transfer. Any ring in the afternoon after a certain time is next day unfortunately 

soulsaver

wiseonesomeofthetime said:

infoadict said:

Just received an email from Cahoot, saying to check messages regarding interest rate drop.

All Sunny Day Saver rates are dropping to 4.75% on 31st March 2025

Cahoot Sunny Saver
I got the same, however, mine downgrades on 8 March 2025, so do I now get a rate rise (obv not)

If that's the 12 month term downgrade can you not 'refresh' them for the 4.75%?

jimmeee

Need to move away from Chase now that the boost is expired.

Does anyone know which providers use faster payments in and out of their savings account?

I'd like to replicate the functionality that I have in Chase where I can quickly move cash between savings and my normal Chase current account.

I'm tempted by Marcus.  They are Which recommended and their FAQ says faster payments in and out of linked bank account.  Anyone had experience with them?

Thanks

Archerychick

Chase Savings Account

Now that I’ve lost my boosted saving rate with Chase I’ve moved my savings from that account, leaving 49p. Is there any reason to keep this savings account open?

I have a current account. I just can’t remember if this is one of the banks where if you close an account you can’t have it again, or if that only applies if you close everything?

Archerychick

jimmeee said:

Need to move away from Chase now that the boost is expired.

Does anyone know which providers use faster payments in and out of their savings account?

I'd like to replicate the functionality that I have in Chase where I can quickly move cash between savings and my normal Chase current account.

I'm tempted by Marcus.  They are Which recommended and their FAQ says faster payments in and out of linked bank account.  Anyone had experience with them?

Thanks

There is a post by irce on this page of the thread that gives a table - 

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

In addition Cahoot Rainy day saver is instant payments but limited to £3k. I’ve twinned this up with another account to put anything over £3k into.

jaypers

Just a warning to everyone moving their money out of Chase. Don’t close your current account as you won’t be able to reopen again!

s71hj

ircE said:

Happy new year everyone.

True EA accounts are easy access savings accounts which can be opened, and the headline rate earned, from a balance of just £1, and allow unlimited deposits and withdrawals. This table excludes accounts limited to smaller balances, paid-for/premium accounts and savings marketplaces. True Instant EA accounts are True EA accounts which advertise immediate deposit and withdrawal times 24/7. Green highlights are accounts who have raised interest rates, and blue highlights are those which are new to the respective table.

A quiet but not completely uneventful festive period. Since last time, Chase's already table-topping offering has risen. At the same time, Skipton launched a new account with a bonus rate and cahoot's latest Simple Saver allows it to return to the scorecard.

So looking at this Kroo is the highest paying one that also allows standing orders, and direct debits am I correct?

wiseonesomeofthetime

soulsaver said:

wiseonesomeofthetime said:

infoadict said:

Just received an email from Cahoot, saying to check messages regarding interest rate drop.

All Sunny Day Saver rates are dropping to 4.75% on 31st March 2025

Cahoot Sunny Saver
I got the same, however, mine downgrades on 8 March 2025, so do I now get a rate rise (obv not)

If that's the 12 month term downgrade can you not 'refresh' them for the 4.75%?

Cahoot Sunny Saver

That is certainly a possibility. Given that Cahoot give something like 60 days notice on rate reductions too.

refluxer

Archerychick said:

Chase Savings Account

Now that I’ve lost my boosted saving rate with Chase I’ve moved my savings from that account, leaving 49p. Is there any reason to keep this savings account open?

I have a current account. I just can’t remember if this is one of the banks where if you close an account you can’t have it again, or if that only applies if you close everything?

It's fine to close the Saver account if you no longer need it. If they were to launch a new Boosted Saver at a higher rate, you'd need to open a new one anyway. 

It's the current account you need to keep open, as they do state you won't be able to open another in future if you close it.

ircE

s71hj said:

So looking at this Kroo is the highest paying one that also allows standing orders, and direct debits am I correct?

I believe so. There is also Nationwide's FlexDirect current account @ 5.00% for balances up to £1,500 for the first year.

Before you open an account with Kroo I would suggest you have a look at this thread in which other forumites have shared their experiences.