The New Top Easy Access Savings Discussion Area

pecunianonolet

Rate of 3.6% to remain for existing customers until the mentioned date. The new lower rate already applies for new customers. My account has been sitting with a NIL balance for a while now but it's time to close it down.

allegro120

pecunianonolet said:

Rate of 3.6% to remain for existing customers until the mentioned date. The new lower rate already applies for new customers. My account has been sitting with a NIL balance for a while now but it's time to close it down.

They've done it for me last year. My balance was zero for a couple of years, then they sent a warning, I've made in and out transactions required for keeping the account, but they've closed it anyway I didn't miss it, I doubt it will be competitive ever again.  Al Rayan (if in need of cash) is more likely to release a new issue as oppose to increasing rates on the previous issues.

poppystar

@soulsaver     Is there a reason why Chetwood Bank has slipped off the lists? It’s still offering 4.52% with no notification yet of future reductions. I’m hoping it’s not because Chetwood is bad in some way as I’ve just opened my first account there! 

soulsaver

poppystar said:

soulsaver     Is there a reason why Chetwood Bank has slipped off the lists? It’s still offering 4.52% with no notification yet of future reductions. I’m hoping it’s not because Chetwood is bad in some way as I’ve just opened my first account there! 

No known reason - so editorial senility or inebriation.. hopefully the  latter. Reinstated, thanks @Poppystar

ericthelobster

Question.

I am in the market for an instant access savings account; by which I mean I want online access to an account where I can transfer my saving instantly into my current account (and ideally, vice versa).  The trouble is that quite a lot of so-called 'instant' accounts are not that; for example my Nottingham Building Society account, which was not long ago top of MSE's tree, and which I opened... only to find that when I transferred cash, I was told 'my request would be processed on the next working day'. In practice, that meant 2-3 days before the funds were available.   Not good, when I'm needing to save myself from accidentally overdrawing!   Otrher accounts, eg Marcus (which was my previous one) transfer the funds within the hour.

How can we know how long it takes funds to come through fromsavings accounts?  This is never mentioned in the MSE rundowns of best-buy accounts, and as far as I'm concerned, it's really important, so I wonder why?!  I'd happily sacrifice a bit of interest if it means I'll definitely get my transfer on the same day.

EthicsGradient

Look for the posts in this thread by ircE - latest was here: https://forums.moneysavingexpert.com/discussion/comment/81347589/#Comment_81347589
(every few weeks). They keep a list of the best "instant" accounts.

Born2Save_3

GB Bank Easy Access Issue 2 Account

There's a requirement to initially fund with £1K, but after that, I understand, that the minimum balance is £1.

Does anyone have experience or know of how long the £1K+ needs to be in the account for to satisfy the initial opening requirements ?

I did an initial transfer of £1 and have verified my nominated account and everything looks good.  I'm hoping to put £1K in around 1am and then request transfer out before midday.. So I should get the £1K back the same day.

KevinG

Atom Instant Saver Reward has today increased from 4.60% to 4.75% AER.
https://www.atombank.co.uk/savings/instant-saver-reward/

jimexbox

KevinG said:

Atom Instant Saver Reward has today increased from 4.60% to 4.75% AER.
https://www.atombank.co.uk/savings/instant-saver-reward/

When I received the email I had to double check, up? Every little is welcome. I use it as my emergency pot.

refluxer

ericthelobster said:

I am in the market for an instant access savings account; by which I mean I want online access to an account where I can transfer my saving instantly into my current account (and ideally, vice versa). 

In general, I've found that the traditional high-street banks (Barclays etc) and some of the bigger building societies (eg. Nationwide) are pretty instant, although their easy access savings accounts with good rates are obviously few and far between and you often need a corresponding current account.

Of the easy access accounts I've held elsewhere over the years, I've found Tesco, Chase and Atom to be truly instant with others like Zopa and Tandem not too far behind. Marcus seem quite random for me, taking anything from 5 mins to a few hours.