The New Top Easy Access Savings Discussion Area

fun4everyone

Malchester said:

I opened this account and noticed the line in the email re no further additions after 14 days. I rang them and was told any confusion was all my own fault. Their communication was alright they said and was not confusing despite being contradictory 

You at least won the lottery by getting through on the phone. I waited an hour before giving up yesterday, trustpilot appears to show I am not alone.

StayinAlive

Further to the Kent Reliance Easy Access A/C's, can someone confirm that, for monthly interest, the interest does indeed show in the transaction history online. I can't find any mention of the interest for March (which should be 31st as the last working day of the month) and queried it. I was told "Please be informed that the interest will not show up online". Is this correct and, like the other recent postings, it is me that's confused?

Castle

StayinAlive said:

Further to the Kent Reliance Easy Access A/C's, can someone confirm that, for monthly interest, the interest does indeed show in the transaction history online. I can't find any mention of the interest for March (which should be 31st as the last working day of the month) and queried it. I was told "Please be informed that the interest will not show up online". Is this correct and, like the other recent postings, it is me that's confused?

Is the interest being compounded or paid away?

StayinAlive

Castle said:

Is the interest being compounded or paid away?

Compounded

dosh37

Malchester said:

StayinAlive said:

fun4everyone said:

Anyone got the Kent Reliance Easy Access Issue 79?  I opened it last night after reading all the documents.  This was in the email I received after being successful.

"If you haven't done so already, please remember to fund your account with your initial deposit within the next 7 days. Please ignore this reminder if you have submitted a request to fund your account via an ISA transfer, we will reach out to your provider and arrange the transfer of funds.

Your account opening date will start from the date the initial deposit is received. You will then have 14 days from that date to make any further deposits into your account. After this time, any further deposits will not be accepted."

!!!!!! No deposits after 14 days?  I read all the t&c and saw no mention of that.  Possibly my mistake though.  Majorly different to what I thought I was signing up to.

I've tried to call them to find out if its just wrong information.  Nobody answers the phone of course (40 minutes and counting). 

I opened an Issue 79 and got the same email as you. It does go on to say in the next paragraph, however, "Please note: Additional deposits can be made to notice and easy access accounts at any time".

I opened this account and noticed the line in the email re no further additions after 14 days. I rang them and was told any confusion was all my own fault. Their communication was alright they said and was not confusing despite being contradictory 

Ditto.

I complained about the potentially confusing wording when I phoned up.

I even suggested how it could be modified to make things more clear.

They must be aware of the problem after a number of people have phoned asking for clarification.

dosh37

StayinAlive said:

Further to the Kent Reliance Easy Access A/C's, can someone confirm that, for monthly interest, the interest does indeed show in the transaction history online. I can't find any mention of the interest for March (which should be 31st as the last working day of the month) and queried it. I was told "Please be informed that the interest will not show up online". Is this correct and, like the other recent postings, it is me that's confused?

Just checked my transaction history for Iss 79, opened 29th March. Interest dated April 5th does appear.

friolento

dosh37 said:

Malchester said:

StayinAlive said:

fun4everyone said:

Anyone got the Kent Reliance Easy Access Issue 79?  I opened it last night after reading all the documents.  This was in the email I received after being successful.

"If you haven't done so already, please remember to fund your account with your initial deposit within the next 7 days. Please ignore this reminder if you have submitted a request to fund your account via an ISA transfer, we will reach out to your provider and arrange the transfer of funds.

Your account opening date will start from the date the initial deposit is received. You will then have 14 days from that date to make any further deposits into your account. After this time, any further deposits will not be accepted."

!!!!!! No deposits after 14 days?  I read all the t&c and saw no mention of that.  Possibly my mistake though.  Majorly different to what I thought I was signing up to.

I've tried to call them to find out if its just wrong information.  Nobody answers the phone of course (40 minutes and counting). 

I opened an Issue 79 and got the same email as you. It does go on to say in the next paragraph, however, "Please note: Additional deposits can be made to notice and easy access accounts at any time".

I opened this account and noticed the line in the email re no further additions after 14 days. I rang them and was told any confusion was all my own fault. Their communication was alright they said and was not confusing despite being contradictory 

Ditto.

I complained about the potentially confusing wording when I phoned up.

I even suggested how it could be modified to make things more clear.

They must be aware of the problem after a number of people have phoned asking for clarification.

I find that the Kent Reliance CS has taken a noticeable dip recently. They used to have competent and efficient CS agents but more recently, they seem to just work from scripts, and have a default “no can do” attitude. I had to raise a complaint just recently as they were incapable of following their own ISA maturity options. You can get it resolved eventually, just annoying that you have to spend your own time to do so.

dosh37

dosh37 said:

Archerychick said:

winkowinko said:

allegro120 said:

winkowinko said:

So the Cahoot sunny day saver (issue 5) paying 5% is only available to new customers?

I have a sunny day saver with them (issue 2), but it's currently paying only 4.65%. Is there anything I can do about that?

it is available to all. Issue 2 pays 4.75% AER, which is currently a very good rate for instant access account.  I wouldn't close it. You should be able to open issue 5.  I have all issues (except issue 1 that has already served its term), I've never had problems with opening new issues whilst the older ones are still running.

Ah, fair enough.

I guess that I wrongly assumed that the below meant you can only have one Sunny Day Saver sole account, whereas presumably it means you can only have one of any particular issue?

• You can have a maximum of 1 sole account and 1 joint account per person.

They could of course just bump my interest back up to 5% to save me having to open a new account.

If I were to open issue 5, would I still have the same log in details? Would I need to wait for some kind of verification code to come through the post etc, or can it all just be done online?

The terms do state you can’t hold two, but the system isn’t preventing it as things stand. I didn’t know this until after I’d applied for issue 5. I’ve currently got the previous issue with a few pence in and only issue 5 with a decent amount in. 

There is nothing to stop you opening the issue 5.

Can anyone confirm that, if you do have multiple Sunny Day accounts then you do actually receive interest for deposits above the £3K limit for a single account?

My worry is that although the system may let you open multiple Sunny Day accounts, you only receive interest on the first £3K:-

====

What you’ll get

• 5.00% AER/gross (variable) for 1 year on balances up to £3,000. 
• No interest paid on balances over £3,000.

 

Things to keep in mind

• Minimum opening balance £1, maximum £2 million.
• You can have a maximum of 1 sole account and 1 joint account per person.
• This is a paper-free account – learn more in ‘How do I open and manage my account?’ below.

====

The Key Facts PDF document also says:-

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

An update plus details of the hassle required to close Cahoot savings accounts...

I have Cahoot simple saver and sunny day saver accounts.

The sunny day saver is 'Iss 1' paying 4.75%.

I wanted to close both accounts so that the interest falls in the new tax year.

First I withdrew the £3K I had in the sunny day account (leaving £0).

I withdrew all the funds from the simple saver apart from £1.

The then sent secure messages asking for both accounts to be closed and to transfer remaining funds to an external current account.

The secure messages seemed to be ignored, so after several days, I deleted the messages, phoned and asked for the simple saver account to be closed.

I was told that can only be done once the account is completely empty.

So he transferred the remaining £1 into my empty sunny day account.

I was told the simple saver interest would be added and transferred to my external account - although this would take a few days.

I then asked if I could open a second sunny day account (Iss 5 paying 5%) while keeping the Iss 1 account open.

I was told that I could only have one sunny day account. However I could open a new Iss 5 account, transfer the £1 from the Iss 1 account and close the old account. The closure request would need another phone call.

If I didn't close the old account then the new sunny day account could end up being changed to a different type of account paying less interest.

flaneurs_lobster

dosh37 said:

dosh37 said:

Archerychick said:

winkowinko said:

allegro120 said:

winkowinko said:

So the Cahoot sunny day saver (issue 5) paying 5% is only available to new customers?

I have a sunny day saver with them (issue 2), but it's currently paying only 4.65%. Is there anything I can do about that?

it is available to all. Issue 2 pays 4.75% AER, which is currently a very good rate for instant access account.  I wouldn't close it. You should be able to open issue 5.  I have all issues (except issue 1 that has already served its term), I've never had problems with opening new issues whilst the older ones are still running.

Ah, fair enough.

I guess that I wrongly assumed that the below meant you can only have one Sunny Day Saver sole account, whereas presumably it means you can only have one of any particular issue?

• You can have a maximum of 1 sole account and 1 joint account per person.

They could of course just bump my interest back up to 5% to save me having to open a new account.

If I were to open issue 5, would I still have the same log in details? Would I need to wait for some kind of verification code to come through the post etc, or can it all just be done online?

The terms do state you can’t hold two, but the system isn’t preventing it as things stand. I didn’t know this until after I’d applied for issue 5. I’ve currently got the previous issue with a few pence in and only issue 5 with a decent amount in. 

There is nothing to stop you opening the issue 5.

Can anyone confirm that, if you do have multiple Sunny Day accounts then you do actually receive interest for deposits above the £3K limit for a single account?

My worry is that although the system may let you open multiple Sunny Day accounts, you only receive interest on the first £3K:-

====

What you’ll get

• 5.00% AER/gross (variable) for 1 year on balances up to £3,000. 
• No interest paid on balances over £3,000.

 

Things to keep in mind

• Minimum opening balance £1, maximum £2 million.
• You can have a maximum of 1 sole account and 1 joint account per person.
• This is a paper-free account – learn more in ‘How do I open and manage my account?’ below.

====

The Key Facts PDF document also says:-

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

An update plus details of the hassle required to close Cahoot savings accounts...

.......

Think I'll follow the advice from upthread - keep schtum, look inconspicuous and hope they don't notice me.... 

Castle

StayinAlive said:

Further to the Kent Reliance Easy Access A/C's, can someone confirm that, for monthly interest, the interest does indeed show in the transaction history online. I can't find any mention of the interest for March (which should be 31st as the last working day of the month) and queried it. I was told "Please be informed that the interest will not show up online". Is this correct and, like the other recent postings, it is me that's confused?

Interest will show up online if it's compounded. I have Issue 78 opened 24th March, (compounded) interest credited on 31st March. 

I'm assuming that the balance is at least £1,000?