The New Top Easy Access Savings Discussion Area

alfred64

Plus £60 for simply moving money around is not insignificant.

mon3ysav3r

allegro120 said:

I see.  Sorry I misunderstood your post.  Of course everyone has their own threshold, I'm not 100% efficient either, I sometimes choose convenience over effectiveness.  Nevertheless, I wouldn't keep £1500 at -1% unless I really have to.

Agreed keeping £1500 at such a low rate wouldn't be good, but I don't see anything in the Halifax Reward Current account terms that say you have to keep £1500 in the account, only that you pay at least that much in every month (and then to get the 5 pounds do £500+ in debit card transactions).

crumpet_man

mon3ysav3r said:

allegro120 said:

I see.  Sorry I misunderstood your post.  Of course everyone has their own threshold, I'm not 100% efficient either, I sometimes choose convenience over effectiveness.  Nevertheless, I wouldn't keep £1500 at -1% unless I really have to.

Agreed keeping £1500 at such a low rate wouldn't be good, but I don't see anything in the Halifax Reward Current account terms that say you have to keep £1500 in the account, only that you pay at least that much in every month (and then to get the 5 pounds do £500+ in debit card transactions).

That's not what is happening, funds are  not left in the Halifax account.

£1500 in NSI at 3.3% AER, at beginning of month withdraw to Halifax current account number 1, transfer £1500 from Halifax current account number 1 to number 2 then number 2 to number 3.  Transfer £500 from account 3 to account 1 and account 2.

Pay £500 into NSI using debit card from each of the 3 current accounts.

£1500 stays in NSI until next month.

If you withdraw £1500 from NSI ASAP you could deposit it in a higher paying savings account and potentially earn an extra ~1% AER on that £1500.

flaneurs_lobster

crumpet_man said:

If you withdraw £1500 from NSI ASAP you could deposit it in a higher paying savings account and potentially earn an extra ~1% AER on that £1500.

That's what I do, £1500 from 7% EA into Halifax, fund a couple of RS from the CA, "spend" £500 funding Revolut with the debit card, residual funds + Revolut transfer back to EA.

pecunianonolet

flaneurs_lobster said:

crumpet_man said:

If you withdraw £1500 from NSI ASAP you could deposit it in a higher paying savings account and potentially earn an extra ~1% AER on that £1500.

That's what I do, £1500 from 7% EA into Halifax, fund a couple of RS from the CA, "spend" £500 funding Revolut with the debit card, residual funds + Revolut transfer back to EA.

Does Revolut allow immediate withdrawal again or only after the transaction cleared?

allegro120

mon3ysav3r said:

allegro120 said:

I see.  Sorry I misunderstood your post.  Of course everyone has their own threshold, I'm not 100% efficient either, I sometimes choose convenience over effectiveness.  Nevertheless, I wouldn't keep £1500 at -1% unless I really have to.

Agreed keeping £1500 at such a low rate wouldn't be good, but I don't see anything in the Halifax Reward Current account terms that say you have to keep £1500 in the account, only that you pay at least that much in every month (and then to get the 5 pounds do £500+ in debit card transactions).

No, I meant keeping £1.5k in a savings account (used for Halifax card payment) that pays 1% less than another savings account . Of corse there's no point keeping any money in Halifax current account.

flaneurs_lobster

pecunianonolet said:

flaneurs_lobster said:

crumpet_man said:

If you withdraw £1500 from NSI ASAP you could deposit it in a higher paying savings account and potentially earn an extra ~1% AER on that £1500.

That's what I do, £1500 from 7% EA into Halifax, fund a couple of RS from the CA, "spend" £500 funding Revolut with the debit card, residual funds + Revolut transfer back to EA.

Does Revolut allow immediate withdrawal again or only after the transaction cleared?

Yes, it's a big advantage of using Revolut, it allows immediate use of pending funds. In my case that £500 is never at Revolut for more that 5 minutes.

allegro120

crumpet_man said:

mon3ysav3r said:

allegro120 said:

I see.  Sorry I misunderstood your post.  Of course everyone has their own threshold, I'm not 100% efficient either, I sometimes choose convenience over effectiveness.  Nevertheless, I wouldn't keep £1500 at -1% unless I really have to.

Agreed keeping £1500 at such a low rate wouldn't be good, but I don't see anything in the Halifax Reward Current account terms that say you have to keep £1500 in the account, only that you pay at least that much in every month (and then to get the 5 pounds do £500+ in debit card transactions).

That's not what is happening, funds are  not left in the Halifax account.

£1500 in NSI at 3.3% AER, at beginning of month withdraw to Halifax current account number 1, transfer £1500 from Halifax current account number 1 to number 2 then number 2 to number 3.  Transfer £500 from account 3 to account 1 and account 2.

Pay £500 into NSI using debit card from each of the 3 current accounts.

£1500 stays in NSI until next month.

If you withdraw £1500 from NSI ASAP you could deposit it in a higher paying savings account and potentially earn an extra ~1% AER on that £1500.

That's very convenient, minimum admin, but in this scenario you could gain more interest if you used better paying accounts for this.  You could do exactly the same with Family BS currently paying 4.6% for example.

Bridlington1

As mentioned on the main regular savers thread Saffron BS are cutting the rates on their variable rate accounts on 10/6/25.

There's a few sharp drops among them, of note the NLA E-Saver Issue 22 is to be cut from 4.5% to 4.05%. See:



For the full list of cuts see:
https://www.saffronbs.co.uk/sites/default/files/2025-05/VariableRateGuide10.06.2025.pdf

JamesRobinson48

Family BS launched today Online Saver issue (10) paying 4.55% p.a. variable.

https://www.familybuildingsociety.co.uk/savings/easy-access-savings/product-detail/online-saver-(10)