The New Top Easy Access Savings Discussion Area

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.

jaypers

Charter have upped their Easy Access offering slightly and launched Issue 58 paying 4.5% Monthly/4.59% AER (Annual)

Bridlington1

jaypers said:

Charter have upped their Easy Access offering slightly and launched Issue 58 paying 4.5% Monthly/4.59% AER (Annual)

@soulsaver

In addition to above:
Chip Instant Easy Access Saver  now 4.76% 

Kent RBS Iss78 4.59% £1k min (slight increase replaces Iss 77 at 4.55%)

Chase 6 mth svr back up to 4.75% (up from 4.5%)

tg99

I triggered the monthly £3 fee when I set up direct debits and paid over £500 into the Santander edge current account (only did this for a current account switch offer). I also have the Edge 6% savings account that I want to keep but don’t want to pay the fee on the current account. Am I right in thinking that even if I cancel the direct debits the fee will continue to be taken and therefore I will need to downgrade the account to a standard Santander current account with no fee and at the same time open a new Edge current account in order to keep the 6% saver? Thks.

10_66

Charter Easy Access 58
I've just opened the above account, confirmation that account is open and ready to use came through straightaway but, unusually with Charter, the account isn't appearing yet.  I'm having issues with Chrome lately, so don't know if this is the likely cause, but I can't imagine I'd have received the confirmation if Chrome was causing an issue with the application going through.  Can anyone confirm if this has happened with their applications, please?