The New Top Easy Access Savings Discussion Area

Kim_13

1spiral said:

Can anyone please tell me when deposits are credited to West Brom B/S if sent by FP?

I can see in their T&Cs that withdrawals arrive next working day if requested before 1530 but can find no mention of times for deposits.

Deposits in the morning definitely arrive the same day. Whether it would be that 15:00 is fine as anything up to 15:30 counts as a day, I’m not sure - it’s been a while since I’ve made a deposit as I no longer have a RS with them.

pecunianonolet

Gatehouse Rate Reduction

allegro120

pecunianonolet said:

Gatehouse Rate Reduction

Looks like my Gatehouse EAs will hibernate for a long time to come.

ircE

Hope everyone had a good bank holiday weekend.

True EA accounts are easy access savings accounts which can be opened, and the headline interest rate earned, with a minimum of up to £10. They allow for unlimited withdrawals. Accounts limited to smaller balances, fee-charging accounts, and accounts only available on savings platforms are excluded. Instant True EA accounts are those True EA accounts which advertise immediate transfer times 24/7. Highlighted entries show changes in the interest rate since last time: red for falls, green for rises, and blue for new entries to the respective table.

As previously discussed I've raised the threshold for minimum balances to £10 and this time that's led to Spring, a platform for Paragon Bank, springing onto the scorecard.

For new customers, Chip is now the best account across the board, and cahoot's latest Simple Saver takes the lead for everyone else.

SnowMan

Closing Cahoot simple saver by secure message

Following on from an earlier discussion just managed to close my Cahoot simple saver (issue 9) through secure message and get the accrued interest to closure transferred to the simple saver (issue 10). Process that worked for me is:

a) open issue 10 account

b) transfer all of balance on issue 9 to issue 10, leaving issue 9 balance as zero.

c) send them a secure message (choosing the subject 'cahoot Account closure' from the drop down list) and make sure to include your address. Message should be along the lines of 'Please close my simple saver (issue 9) account number xxxxxxxx, sort code xxxxxx, and transfer the interest to closure to my simple saver (issue 10) account number xxxxxxxx, sort code xxxxxx. I have already reduced the balance on my issue 9 account to zero. My address is xxxxxxxx.'

d) secure message received from cahoot (in my case after one day) to say the closure will be actioned within 2 working days.

e) account closure actioned (in my case one day after the message in d) received)

 

exel1966

..........

slinger2

SnowMan said:

Closing Cahoot simple saver by secure message

Following on from an earlier discussion just managed to close my Cahoot simple saver (issue 9) through secure message and get the accrued interest to closure transferred to the simple saver (issue 10). Process that worked for me is:

a) open issue 10 account

b) transfer all of balance on issue 9 to issue 10, leaving issue 9 balance as zero.

c) send them a secure message (choosing the subject 'cahoot Account closure' from the drop down list) and make sure to include your address. Message should be along the lines of 'Please close my simple saver (issue 9) account number xxxxxxxx, sort code xxxxxx, and transfer the interest to closure to my simple saver (issue 10) account number xxxxxxxx, sort code xxxxxx. I have already reduced the balance on my issue 9 account to zero. My address is xxxxxxxx.'

d) secure message received from cahoot (in my case after one day) to say the closure will be actioned within 2 working days.

e) account closure actioned (in my case one day after the message in d) received)

 

I've also managed to delete an old account, in my case a matured Sunny Day Saver account. In my case I withdrew the interest immediately and so there wasn't any money to transfer at closure. However I did give account details (just in case).

So in summary you need to give: 1. Details of account to be closed 2. Details of account to receive any balance 3. Your address for verification checks.

1spiral

Why do you need to give your address if already logged in and sending a secure message?

flaneurs_lobster

Cahoot Simple Saver

1spiral said:

Why do you need to give your address if already logged in and sending a secure message?

Security innit. I know you can already have (legitimately) emptied the account but maybe that "secure message" is just converted into an ordinary email somewhere in the comms chain and they need just an extra bit of verification.

Don't think the systems at Cahoot have changed much since they changed the logo from "Abbey National" in 2010.

EthicsGradient

Change to the lower rate of interest for West Brom Four Access Saver Issue 2 from June 16th, but not for the higher rate you get with four or fewer withdrawals in a year:

Four Access Saver (Issue 2)

Deposits of £1 - £1,000,000: your rate of 4.65% gross p.a./AER variable (4.55% gross monthly, 4.65% AER variable), isn't changing on 16 June 2025, but the rate if you make five or more withdrawals is. The new rate will be 1.90% gross p.a./AER variable (1.88% gross monthly, 1.90% AER variable).

The current rate is 2.15% gross p.a./AER variable (2.13% gross monthly, 2.15% AER variable).