The New Top Easy Access Savings Discussion Area

janusdesign

wiseonesomeofthetime said:

allegro120 said:

s71hj said:

allegro120 said:

Archerychick said:

AndyTh_2 said:

Chip isn't offering me a Instant True EA at 4.70%, I've got the limited withdrawal bonus Easy Access 4.75% one though. Is the Chip Instant Access the one (is 3.75% the one I've got open)? Would I be able to close it and open it again to get that rate?

I’ve just taken out a Cahoot sunny day saver which pays 4.75% on balances up to £3k, it’s a true instant ea. I then have the rest of my cash for monthly cash flow in another ea which isn’t instant, but currently paying the same interest 

You can double it if you open a joint account.  I had 6 (2 per issue), now down to 5 (they only last for a year).  Space for £9k at 5% and £6k at 4.75% - more than enough to feed my regular savers.

I thought you could only have one and one joint account overall. So is it per issue?

Cahoot Sunny Day.
Yes, it is per issue.

Are you sure about this as the KPI states 

"You can have a maximum of two cahoot Sunny Day Saver accounts – one in your sole name and one that you hold jointly with someone else. If you don’t keep to these terms, we might switch your account to a cahoot Savings Account."

It conveniently omits the words per issue that would provide clarity.

My current one drops like a stone at the start of March so, with the security of 60 days notice of change of interest, it may be beneficial to open a 4.75% issue 3 now, prior to Thursday's BoE meeting.

Have you managed it personally?

I have had all three issues - with usually 2 sole accounts open at the same time - currently Issues 2 & 3 fully funded.

I think it's a grey area, but it probably is per issue - though it's never been stated clearly AFAIK.

If it were me, I would just open the Issue 3 account today and not worry about it.

wiseonesomeofthetime

I will. Thanks 👍

Update: Opened ok 🙂

friolento

wiseonesomeofthetime said:

I will. Thanks 👍

Update: Opened ok 🙂

Their T&Cs are a bit opaque, and Cahoot CS told me a while while ago I could only ever have one SDS at the same time. But in any case, Cahoot’s systems don’t enforce one SDS only per account. I haven’t tried more than one of the same issue, but I do have 3 of different issues right now.

allegro120

wiseonesomeofthetime said:

allegro120 said:

s71hj said:

allegro120 said:

Archerychick said:

AndyTh_2 said:

Chip isn't offering me a Instant True EA at 4.70%, I've got the limited withdrawal bonus Easy Access 4.75% one though. Is the Chip Instant Access the one (is 3.75% the one I've got open)? Would I be able to close it and open it again to get that rate?

I’ve just taken out a Cahoot sunny day saver which pays 4.75% on balances up to £3k, it’s a true instant ea. I then have the rest of my cash for monthly cash flow in another ea which isn’t instant, but currently paying the same interest 

You can double it if you open a joint account.  I had 6 (2 per issue), now down to 5 (they only last for a year).  Space for £9k at 5% and £6k at 4.75% - more than enough to feed my regular savers.

I thought you could only have one and one joint account overall. So is it per issue?

Cahoot Sunny Day.
Yes, it is per issue.

Are you sure about this as the KPI states 

"You can have a maximum of two cahoot Sunny Day Saver accounts – one in your sole name and one that you hold jointly with someone else. If you don’t keep to these terms, we might switch your account to a cahoot Savings Account."

It conveniently omits the words per issue that would provide clarity.

My current one drops like a stone at the start of March so, with the security of 60 days notice of change of interest, it may be beneficial to open a 4.75% issue 3 now, prior to Thursday's BoE meeting.

Have you managed it personally?

Yes.  I had 6 simultaneously (2x iss1, 2x iss2 and 2x iss3) one of iss1 ended in January so I'm down to 5. I have opened and manage them personally.

wiseonesomeofthetime

Cahoot Simple Saver
Just noticed issue 7 @ 4% is NLA
replaced by 3% issue 8

Pointless account now, that one imo 🤷‍♂️

friolento

wiseonesomeofthetime said:

Cahoot Simple Saver
Just noticed issue 7 @ 4% is NLA
replaced by 3% issue 8

Pointless account now, that one imo 🤷‍♂️

I will continue to keep my Cahoot Simple Saver with £1 in it so I continue to have online access even if  and when all my Sunny Day Savers will have been closed 

allegro120

friolento said:

wiseonesomeofthetime said:

Cahoot Simple Saver
Just noticed issue 7 @ 4% is NLA
replaced by 3% issue 8

Pointless account now, that one imo 🤷‍♂️

I will continue to keep my Cahoot Simple Saver with £1 in it so I continue to have online access even if  and when all my Sunny Day Savers will have been closed 

Sunny Days don't close, they just morph into Savings Account account (1%). My Simple Saver also morphed into the same Savings Account.  So you don't have to open any new accounts for continuing online access.  There's no minimum balance requirement for Savings Account or any other commitments.

friolento

allegro120 said:

friolento said:

wiseonesomeofthetime said:

Cahoot Simple Saver
Just noticed issue 7 @ 4% is NLA
replaced by 3% issue 8

Pointless account now, that one imo 🤷‍♂️

I will continue to keep my Cahoot Simple Saver with £1 in it so I continue to have online access even if  and when all my Sunny Day Savers will have been closed 

Sunny Days don't close, they just morph into Savings Account account (1%). My Simple Saver also morphed into the same Savings Account.  So you don't have to open any new accounts for continuing online access.  There's no minimum balance requirement for Savings Account or any other commitments.

I know all that. I close my SDSs after 12 months. 

Expotter

Coventry Building Society has launched a Four Access Saver account at 4.85% AER. Might not be the highest  available at the moment, but for a traditional building society I think it's a pretty good rate.

https://www.coventrybuildingsociety.co.uk/member/product/savings/limited_access/4-access-saver.html

AndyTh_2

Expotter said:

Coventry Building Society has launched a Four Access Saver account at 4.85% AER. Might not be the highest  available at the moment, but for a traditional building society I think it's a pretty good rate.

https://www.coventrybuildingsociety.co.uk/member/product/savings/limited_access/4-access-saver.html

Thanks. Its also good for the people who already opened T212/Chip/Chase and so don't qualify for the higher new customer/account interest rates, and especially those who are using the 5 access saver 4.75%.

My closest is Atom 4.85% but each withdrawal reduces interest for the rest of the month, so isn't very good unless withdrawing all of it then putting the remainder back in the next month