The New Top Easy Access Savings Discussion Area

allegro120

Marcoos said:

Cahoot Sunny Day Saver

Mine matured today, it's converted to the 1.20% saver. But no interest yet, which I'm guessing will come through tomorrow?

Am I able to open a new Sunny Day Saver now, move the £3k and leave the 1.20% account open while waiting on the interest?

Yes, you should get it tomorrow.  I got my interest the day after.

Yes, you can open new Sunny Day now and leave the morphed account open. Thats what I've done 11 days ago. 

Bridlington1

@soulsaver
Co-operative Bank Select Access Saver 3 4.59% £1 min Single w/d before rate drop NLA
Replaced by much lower rate issue 4

allegro120

Bobblehat said:

Gatehouse ERG and EAA ...

When the Gatehouse ERG account drops to 4.65%/4.75% tomorrow, which is the same rate as the Gatehouse EAA account, can anyone see any possible reason to keep the EAA open as well as the ERG?

I keep both.  No particular reason. Hope you don't mind me reversing this question - can anyone see any possible reason to close the old EAA? 

allegro120

poppystar said:

I’m moving most savings from Chase but still want to put in the monthly amount to get cash back. Is there anything to stop me from putting in that amount each month then withdrawing it during the month less whatever I’m likely to spend? It feels wrong. What are others doing? 

I use Chase for shopping and keep my balance in Chase Saver at approximately £100 for this purpose.  I deposit £1500 on the first of each month for cash back eligibility and immediately distribute this money across some of my regular savers.

allegro120

flaneurs_lobster said:

Bobblehat said:

Gatehouse ERG and EAA ...

When the Gatehouse ERG account drops to 4.65%/4.75% tomorrow, which is the same rate as the Gatehouse EAA account, can anyone see any possible reason to keep the EAA open as well as the ERG?

May not apply to many but, the ERG has a max deposit of £1M, the EAA is a mere £250k.

You might need both.

I wouldn't recommend going over £85k per institution, but for those with £M+ of spare cash an extra £250k at this rate could be a bonus

Bobblehat

allegro120 said:

Bobblehat said:

Gatehouse ERG and EAA ...

When the Gatehouse ERG account drops to 4.65%/4.75% tomorrow, which is the same rate as the Gatehouse EAA account, can anyone see any possible reason to keep the EAA open as well as the ERG?

I keep both.  No particular reason. Hope you don't mind me reversing this question - can anyone see any possible reason to close the old EAA? 

Reverse the question .... no problem! Glad to receive any considered opinion ...  as every day is a learning day! Just reviewing some dormant accounts (not just Gatehouse) to see if there is any mileage in simplifying!

Born2Save_3

Does anyone know of any recent rate reduction notices on the Cahoot Sunny Day Saver Issue 3 ?

allegro120

Bobblehat said:

allegro120 said:

Bobblehat said:

Gatehouse ERG and EAA ...

When the Gatehouse ERG account drops to 4.65%/4.75% tomorrow, which is the same rate as the Gatehouse EAA account, can anyone see any possible reason to keep the EAA open as well as the ERG?

I keep both.  No particular reason. Hope you don't mind me reversing this question - can anyone see any possible reason to close the old EAA? 

Reverse the question .... no problem! Glad to receive any considered opinion ...  as every day is a learning day! Just reviewing some dormant accounts (not just Gatehouse) to see if there is any mileage in simplifying!

I know what you mean. I have a very large portfolio of dormant accounts and scrolling through them on your app can be annoying. I used to trim them, some are easy to close, some are not.... eventually I gave up, just let them be as long as they don't require any funding.  I don't include them in my spreadsheet, it is already too lengthy without them

Bobblehat

allegro120 said:

I know what you mean. I have a very large portfolio of dormant accounts and scrolling through them on your app can be annoying. I used to trim them, some are easy to close, some are not.... eventually I gave up, just let them be as long as they don't require any funding.  I don't include them in my spreadsheet, it is already too lengthy without them

Do you have any problems with HMRC assuming some of your dormant accounts are earning similar amounts to previous years when they weren't dormant and grabbing excess tax on interest? 

I suspect that it's happening to me when they started issuing 'K' codes on my modest company pensions. I find it's quite difficult to work out if they are taxing me correctly  .... or not!

allegro120

Bobblehat said:

allegro120 said:

I know what you mean. I have a very large portfolio of dormant accounts and scrolling through them on your app can be annoying. I used to trim them, some are easy to close, some are not.... eventually I gave up, just let them be as long as they don't require any funding.  I don't include them in my spreadsheet, it is already too lengthy without them

Do you have any problems with HMRC assuming some of your dormant accounts are earning similar amounts to previous years when they weren't dormant and grabbing excess tax on interest? 

I suspect that it's happening to me when they started issuing 'K' codes on my modest company pensions. I find it's quite difficult to work out if they are taxing me correctly  .... or not!

I'm not sure.  I've never had 'K' codes.