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Vida Savings Defined Access Issue 1 will go from 4.63% AER to 4.38% AER (monthly 4.29%) on 4th July - via email.

ToastLady

@soulsaver

Just had email from Vida

Important Update: Your Defined Access Issue 1 Interest Rate is Changing
As you may know, the Bank of England recently reduced the base rate by 0.25% to 4.25% on 8th May 2025.

As a result, and following a review of our current rates and the wider market, we are reducing the rate on your Defined Access Issue 1 by the same amount to 4.38% Gross/AER (Annual interest), 4.29%/4.38% Gross/ AER (Monthly interest).
Your new rate will be effective from 4th July 2025

soulsaver

ToastLady said:

@soulsaver

Just had email from Vida

Important Update: Your Defined Access Issue 1 Interest Rate is Changing
As you may know, the Bank of England recently reduced the base rate by 0.25% to 4.25% on 8th May 2025.

As a result, and following a review of our current rates and the wider market, we are reducing the rate on your Defined Access Issue 1 by the same amount to 4.38% Gross/AER (Annual interest), 4.29%/4.38% Gross/ AER (Monthly interest).
Your new rate will be effective from 4th July 2025

Top Easy Access acs Ranked: Top of The Pots - **No Chat** - Page 88 — MoneySavingExpert Forum

ircE

True EA accounts are easy access savings accounts which can be opened, and the headline interest rate earned, with up to £10. These accounts allow unlimited withdrawals. This table excludes fee-charging accounts, accounts limited to smaller balances, and accounts only available through savings marketplaces. Instant True EA accounts are those True EA accounts whose funds can be accessed immediately 24/7. Highlighted entries show changes since last time: green for rate increases, red for rate reductions, and blue for new entries to the respective tables.

After staying just off the radar for the first few months of its existence, Snoop's Easy Access Savings Account makes its debut on the scorecard and becomes the leading True EA account for savers who are not eligible for the Chase boosted rate. Snoop is owned by Vanquis Bank, and funds saved with Snoop are covered by Vanquis' FSCS licence.

Next MPC meeting is next Thursday 19th June.

* Cynergy Bank and Spring are both tied in for last place in the True EA table at 4.30%, I go by the moneyfacts website order.

happybagger

So I have today had this email from cahoot

"We want to remind you that your Cahoot Sunny Day Saver does not pay interest on balances over £3,000. Currently you have a balance over this amount which isn't earning you any interest"

I have an issue paying 4.75% just under 3k

Following other people's comments saying they opened a different issue and got interest on both issues without a problem I did the same, so I also have the current issue paying 5%, just under 3k.

So... Where do they get "balance above 3k" from, are they aggregating the two?

If so, be aware.

allegro120

happybagger said:

So I have today had this email from cahoot

"We want to remind you that your Cahoot Sunny Day Saver does not pay interest on balances over £3,000. Currently you have a balance over this amount which isn't earning you any interest"

I have an issue paying 4.75% just under 3k

Following other people's comments saying they opened a different issue and got interest on both issues without a problem I did the same, so I also have the current issue paying 5%, just under 3k.

So... Where do they get "balance above 3k" from, are they aggregating the two?

If so, be aware.

I got this e-mail on the day when interest was paid on 2 of my SD accounts.  I always have them full (£3k), so when the interest is paid the balance goes over £3k.  It's the first time I received this reminder, it must be a new service.

flaneurs_lobster

happybagger said:

So I have today had this email from cahoot

"We want to remind you that your Cahoot Sunny Day Saver does not pay interest on balances over £3,000. Currently you have a balance over this amount which isn't earning you any interest"

I have an issue paying 4.75% just under 3k

Following other people's comments saying they opened a different issue and got interest on both issues without a problem I did the same, so I also have the current issue paying 5%, just under 3k.

So... Where do they get "balance above 3k" from, are they aggregating the two?

If so, be aware.

I've got a pair of these accounts, both maxed-out at £3k. They go over this each month when interest is paid but never for more than a day or so. Never had a warning email, maybe it's triggered after a number of days that I've never reached.

They are definitely not aggregating the account totals. 

Check any account details on the email, are they definitely referring to your account?

janusd

happybagger said:

So I have today had this email from cahoot

"We want to remind you that your Cahoot Sunny Day Saver does not pay interest on balances over £3,000. Currently you have a balance over this amount which isn't earning you any interest"

I have an issue paying 4.75% just under 3k

Following other people's comments saying they opened a different issue and got interest on both issues without a problem I did the same, so I also have the current issue paying 5%, just under 3k.

So... Where do they get "balance above 3k" from, are they aggregating the two?

If so, be aware.

any chance the balance might have been over £3k on one of them when the email was generated, e.g anytime within the last week etc ?
i've got 4 Sunny Day Savers with £3k in each - the only time there is ever more than that £3k in, is when the £12 monthly interest is paid but I transfer it to a Simple Saver within a day or two.

I have never received the email that you have.

Update: it appears I did get the email on June 12, but it was in my server's spam quarantine - it's just marketing to encourage other savings accounts to be opened with them, rather than a genuine subtle warning about having multiple sunny saver accounts.

happybagger

Never been above 3k in either and annual interest which therefore hasn't been paid to date

ccluedo

I received the same email last week. 

I had one account with full 3k and a second with £10. Both interest paid annually!
Knowing that the 3k account can't possibly go over until interest paid next year, I thought the problem must be the overall balance of 3010 so I withdrew the money from the £10 account leaving that one at zero.
Now, reading the above comments, I'm not sure why I got the email. 🤔