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The New Top Easy Access Savings Discussion Area
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pfpf said:curious. @4.6% why wont it be a "ToTP"? does it break a rule to be included?From 1st post: "Note: Generally, I don't rank 'aggregators'."As mentioned in prior discussion, the safeguarding arrangement means that customers may need to pay admin cost that would normally be covered by FSCS, should the aggregator fail. So it is not a risk free arrangement. Some aggregators have separate Client Money permission, allowing full FSCS protection, but Snoop apparently doesn't.3
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masonic said:Savings accounts do not generally allow a negative balance at all, and providers can be on shaky ground where they put an account into negative balance.Has there ever been an instance where this occurs and if so on what grounds.The closest I've ever heard of to this is where withdrawals incur a say 90 day penalty and if you close the account in less than 90 days you get back less than you deposited but that isn't the same as a negative balance.
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1spiral said:masonic said:Savings accounts do not generally allow a negative balance at all, and providers can be on shaky ground where they put an account into negative balance.Has there ever been an instance where this occurs and if so on what grounds.The closest I've ever heard of to this is where withdrawals incur a say 90 day penalty and if you close the account in less than 90 days you get back less than you deposited but that isn't the same as a negative balance.1
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1spiral said:masonic said:Savings accounts do not generally allow a negative balance at all, and providers can be on shaky ground where they put an account into negative balance.Has there ever been an instance where this occurs and if so on what grounds.The closest I've ever heard of to this is where withdrawals incur a say 90 day penalty and if you close the account in less than 90 days you get back less than you deposited but that isn't the same as a negative balance.2
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Having those accounts sitting in my spreadsheet would be just so annoying. It's the negativityness, I've loads of zero or £1 balances and that's just fine but (£1).... in a column of positive numbers....it's not natural.Malchester said:
I have 2 Coventry Building Society Accounts which have a negative balance, both under £2. It was when I closed a couple of accounts with a closure penalty. Instead of deducting the penalty from the amount they sent me the full amount and left the accounts with negative balance. It was over 1 year ago and they haven't asked me to clear the negative balance2 -
flaneurs_lobster said:Having those accounts sitting in my spreadsheet would be just so annoying. It's the negativityness, I've loads of zero or £1 balances and that's just fine but (£1).... in a column of positive numbers....it's not natural.Malchester said:
I have 2 Coventry Building Society Accounts which have a negative balance, both under £2. It was when I closed a couple of accounts with a closure penalty. Instead of deducting the penalty from the amount they sent me the full amount and left the accounts with negative balance. It was over 1 year ago and they haven't asked me to clear the negative balance1 -
flaneurs_lobster said:Having those accounts sitting in my spreadsheet would be just so annoying. It's the negativityness, I've loads of zero or £1 balances and that's just fine but (£1).... in a column of positive numbers....it's not natural.Malchester said:
I have 2 Coventry Building Society Accounts which have a negative balance, both under £2. It was when I closed a couple of accounts with a closure penalty. Instead of deducting the penalty from the amount they sent me the full amount and left the accounts with negative balance. It was over 1 year ago and they haven't asked me to clear the negative balance3 -
West Brom Building Society 4 access saver (issue 2) paying 4.65% AER is no longer availableI came, I saw, I melted5
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Does this mean you only allow integer balances in all your accounts? ;-)
P60 numbers etc are recorded with pence. Never needed to report these numbers, doesn't SA ignore pennies?0 -
ircE said: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.Does the True EA accounts listed do weekend withdrawals?I assume they do, just not instant.2
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