The New Top Easy Access Savings Discussion Area

superleeds27

fryedslyce said:

Also worth noting, the only account that gives you a minimum 2 months notice of any interest rate reduction is Cahoot, the others are only 14 days or only 5 working days for Chase.

Suppose that makes them more favourable, in a sense.

20122013

Are there any risks of applying to all the 7+  accounts above? So I can have more to choices in two months time? As I have already opened a few since April?

Bridlington1

20122013 said:

Are there any risks of applying to all the 7+  accounts above? So I can have more to choices in two months time? As I have already opened a few since April?

The only issue that I can see is that the Chase bonus rate is for new customers only, if you're not an existing customer yet I'd be cautious of burning through the new customer rate too soon if you're not going to be using it for a couple of months.

Additionally with Snoop it's worth noting they do have a refer-a-friend offer so it may be worth waiting till you know someone who can refer you before opening this account. Remember though referrals are prohibited on this forum so you'd need to look elsewhere for a referral.

janusdesign

20122013 said:

Easy(ish) Access, Top 10 (ish) of The Pots. 

Source :  https://forums.moneysavingexpert.com/discussion/comment/79538594/#Comment_79538594

1 Chase Boostd Rate Svr 5.00% inc.fixed 2.25% 1yr bonus for new customers only AO (09/06) 

2 Atom Bank Rewards Instant Saver - ->4.75% if no w/ds in mth, otherwise 2.50% (09/05) AO

3 Cahoot Simple Saver Iss10 £1min 4.55% (23/05)

4 Principality BS Online Bonus Triple Access (Issue 7) 4.55% (04/07)

5 Family Building Society Online Saver (11)  4.52% Min £100 (02/07)

6 Coventry BS 4 Access Saver (2) 4.50% (24/04)

7 Skipton Bonus Saver 4.50% £1 min; £50k max inc. 1.7% fixed 1st yr bonus (19/06)

Questions: 

May I double check the top 7 accounts (above), none of them have a funding window and withdraw can be made at anytime - I will pay a penalty and accept the lower interest rate if need be.

If I need the accounts in 2 months time, is it too earlier to open them now to secure the current rate and pay the minimum balance in ? will I need to worry about credit checks? 

the top 2 (Chase & Atom) won't require any deposits to open - you can leave them at £0 if you need to... the others will likely require £1 to keep them open.
also, be aware that at least 3 of the above (Atom, Principality & Coventry) have withdrawal restrictions of one type or another, so might not suit your needs.

winkowinko said:

Snoop 4.6% missing from the list above.

I seem to recall soulsaver classing Snoop as an aggregator and therefore doesn't meet their top 10 criteria additionally, it was posted with a "Do Your Own Research" warning - similarly with Cahoot 5%, that doesn't rate the top 10 as it only has a small maximum balance.

allegro120

20122013 said:

Are there any risks of applying to all the 7+  accounts above? So I can have more to choices in two months time? As I have already opened a few since April?

There are no risks, you can have as many accounts as you want.

allegro120

Bridlington1 said:

20122013 said:

Are there any risks of applying to all the 7+  accounts above? So I can have more to choices in two months time? As I have already opened a few since April?

The only issue that I can see is that the Chase bonus rate is for new customers only, if you're not an existing customer yet I'd be cautious of burning through the new customer rate too soon if you're not going to be using it for a couple of months.

Additionally with Snoop it's worth noting they do have a refer-a-friend offer so it may be worth waiting till you know someone who can refer you before opening this account. Remember though referrals are prohibited on this forum so you'd need to look elsewhere for a referral.

Delaying Chase can result in missing on this offer, they don't usually stay available for very long.  It's always a bit of a gamble with delaying the account opening. 

mon3ysav3r

20122013 said:

With the 'Chase Boostd Rate Svr 5.00% inc.fixed 2.25% 1yr bonus for new customers only AO (09/06)' 

I have opened this account, and it reads:

'You've opened a Chase saver with a boosted rate'  5%. (great.)

I would like to know whether  there is another account I need to open with CHASE to get this rate? For some reason I have also ordered a 'Chase debit card '  must have opened a second CHASE account (in error) as it has different  CHASE account number. 

Yes you need their "Current Account" which comes with a debit card to be able to open the Saver. I took the default name for the current account and when I view it in the list of current accounts in the app it is called something daft like "New Account" !

Bridlington1

allegro120 said:

Bridlington1 said:

20122013 said:

Are there any risks of applying to all the 7+  accounts above? So I can have more to choices in two months time? As I have already opened a few since April?

The only issue that I can see is that the Chase bonus rate is for new customers only, if you're not an existing customer yet I'd be cautious of burning through the new customer rate too soon if you're not going to be using it for a couple of months.

Additionally with Snoop it's worth noting they do have a refer-a-friend offer so it may be worth waiting till you know someone who can refer you before opening this account. Remember though referrals are prohibited on this forum so you'd need to look elsewhere for a referral.

Delaying Chase can result in missing on this offer, they don't usually stay available for very long.  It's always a bit of a gamble with delaying the account opening. 

It could do but then again by jumping too soon you could end up opening an account to secure the bonus now only to find it is no longer the top rate by the time you come to fund it, in which case you've deprived yourself of a future new customer offer for nothing.

FWIW Chase has ended up being one of the few banks I am yet to use. The reason being that the app wasn't compatible with my smartphone when they had the 1.5% EA account when that was competitive and the extra interest I could've gained by having the app was less than the cost of buying a new phone. 

Earlier this week I did buy a new phone, this was solely because I wanted to get the Chip app again because I could get more out of referring people to Chip than the cost of the new phone and the Chase app is compatible with it. I've still not opened the Chase account despite being eligible for it because most of my non-ISA savings are in regular savers so Cahoot at 5% meets all my short-term EA needs. There doesn't seem much point in opening the account with Chase now when I'd likely never get any extra interest from opening it and they could come up with an account opening offer in the future that I could benefit more from.

janusdesign

mon3ysav3r said:

20122013 said:

With the 'Chase Boostd Rate Svr 5.00% inc.fixed 2.25% 1yr bonus for new customers only AO (09/06)' 

I have opened this account, and it reads:

'You've opened a Chase saver with a boosted rate'  5%. (great.)

I would like to know whether  there is another account I need to open with CHASE to get this rate? For some reason I have also ordered a 'Chase debit card '  must have opened a second CHASE account (in error) as it has different  CHASE account number. 

Yes you need their "Current Account" which comes with a debit card to be able to open the Saver. 

and Chase will have done a soft credit check when you opened their current account.

20122013

mon3ysav3r said:

20122013 said:

With the 'Chase Boostd Rate Svr 5.00% inc.fixed 2.25% 1yr bonus for new customers only AO (09/06)' 

I have opened this account, and it reads:

'You've opened a Chase saver with a boosted rate'  5%. (great.)

I would like to know whether  there is another account I need to open with CHASE to get this rate? For some reason I have also ordered a 'Chase debit card '  must have opened a second CHASE account (in error) as it has different  CHASE account number. 

Yes you need their "Current Account" which comes with a debit card to be able to open the Saver. I took the default name for the current account and when I view it in the list of current accounts in the app it is called something daft like "New Account" !

As  My 'Chase Boostd Rate Svr 5% account is showing the funds I have paid in. With my CHASE current account the one with the CHASE debit card, In order to keep the Saver account,  do I also need to have some transaction going with this current account, or can I leave it open with no transactions?