The New Top Easy Access Savings Discussion Area

flaneurs_lobster

BACKTOBACK said:

I am lucky to have an old NLA account with West Brom that still pays 4.31%. I have just over £100k with them which is protected for six months fscs due to a personal injury payout.
West Brom customer service is good but i am concerned that all you can see is around 5 transactions in the online portal. There is no way to get a statement from them. You cant print a transaction list, balance, or statement.
If there is a problem with the online portal, or West Brom go down it could be a problem.
Also i will need to provide proof of funds for a future property purchase just makes things difficult.
I am grateful for the higher rate, but think its odd to not offer any type of statement?

Yes, odd not to offer a statement for the accounts, although I can see all transactions for my accounts online.

Try giving them a ring or chat https://www.westbrom.co.uk/customer-support/contact-us

Of more concern to me is their utter lack of any form of 2FA and no password just a 4 digit PIN, and I've only got a couple of £k in there, not six figures!

janusd

@soulsaver

not quite one for the top 10 yet, but Tesco have launched an Internet Saver paying 4.20% including a 3.15% bonus for the first 12 months.

mon3ysav3r

flaneurs_lobster said:

BACKTOBACK said:

I am lucky to have an old NLA account with West Brom that still pays 4.31%. I have just over £100k with them which is protected for six months fscs due to a personal injury payout.
West Brom customer service is good but i am concerned that all you can see is around 5 transactions in the online portal. There is no way to get a statement from them. You cant print a transaction list, balance, or statement.
If there is a problem with the online portal, or West Brom go down it could be a problem.
Also i will need to provide proof of funds for a future property purchase just makes things difficult.
I am grateful for the higher rate, but think its odd to not offer any type of statement?

Yes, odd not to offer a statement for the accounts, although I can see all transactions for my accounts online.

Try giving them a ring or chat https://www.westbrom.co.uk/customer-support/contact-us

Of more concern to me is their utter lack of any form of 2FA and no password just a 4 digit PIN, and I've only got a couple of £k in there, not six figures!

As soon as you try to do anything other than just view, such as a transfer, even an internal transfer between West Brom accounts, it requires 2FA (phone txt verification).

refluxer

BACKTOBACK said:

I am lucky to have an old NLA account with West Brom that still pays 4.31%. I have just over £100k with them which is protected for six months fscs due to a personal injury payout.
West Brom customer service is good but i am concerned that all you can see is around 5 transactions in the online portal. There is no way to get a statement from them. You cant print a transaction list, balance, or statement.
If there is a problem with the online portal, or West Brom go down it could be a problem.
Also i will need to provide proof of funds for a future property purchase just makes things difficult.
I am grateful for the higher rate, but think its odd to not offer any type of statement?

That doesn't sound great - I've not personally come across an easy access savings account that didn't come with some form of regular statements. Statements for few of mine are issued annually rather than monthly, but you can view plenty of previous transactions in online banking or print/save off your own bespoke statements if needed.

There are a number of easy access accounts currently paying more than 4.31% so, as you're not vastly over the £85k FSCS limit, you could open a couple and split your savings between them so that the temporary high balance thing is no longer an issue. A boosted Chase Saver (currently 4.75%) would be a good option for the bulk of it if you've not held an account with them before and (if you want to avoid the likes of Chip or Revolut) Cahoot (owned by Santander) would be fine for the remainder. I wouldn't imagine you'd have the statement or transaction visibility issues you're having with West Brom, with either of those.

It's worth noting there's actually a proposal to increase the standard FSCS limit to £110k - the outcome of the consultation is due in November and it could potentially kick in as early as December.

flaneurs_lobster

mon3ysav3r said:

flaneurs_lobster said:

BACKTOBACK said:

I am lucky to have an old NLA account with West Brom that still pays 4.31%. I have just over £100k with them which is protected for six months fscs due to a personal injury payout.
West Brom customer service is good but i am concerned that all you can see is around 5 transactions in the online portal. There is no way to get a statement from them. You cant print a transaction list, balance, or statement.
If there is a problem with the online portal, or West Brom go down it could be a problem.
Also i will need to provide proof of funds for a future property purchase just makes things difficult.
I am grateful for the higher rate, but think its odd to not offer any type of statement?

Yes, odd not to offer a statement for the accounts, although I can see all transactions for my accounts online.

Try giving them a ring or chat https://www.westbrom.co.uk/customer-support/contact-us

Of more concern to me is their utter lack of any form of 2FA and no password just a 4 digit PIN, and I've only got a couple of £k in there, not six figures!

As soon as you try to do anything other than just view, such as a transfer, even an internal transfer between West Brom accounts, it requires 2FA (phone txt verification).

Ah, that's better than i thought. Thanks for heads-up.

dosh37

refluxer said:

BACKTOBACK said:

I am lucky to have an old NLA account with West Brom that still pays 4.31%. I have just over £100k with them which is protected for six months fscs due to a personal injury payout.
West Brom customer service is good but i am concerned that all you can see is around 5 transactions in the online portal. There is no way to get a statement from them. You cant print a transaction list, balance, or statement.
If there is a problem with the online portal, or West Brom go down it could be a problem.
Also i will need to provide proof of funds for a future property purchase just makes things difficult.
I am grateful for the higher rate, but think its odd to not offer any type of statement?

That doesn't sound great - I've not personally come across an easy access savings account that didn't come with some form of regular statements. Statements for few of mine are issued annually rather than monthly, but you can view plenty of previous transactions in online banking or print/save off your own bespoke statements if needed.

There are a number of easy access accounts currently paying more than 4.31% so, as you're not vastly over the £85k FSCS limit, you could open a couple and split your savings between them so that the temporary high balance thing is no longer an issue. A boosted Chase Saver (currently 4.75%) would be a good option for the bulk of it if you've not held an account with them before and (if you want to avoid the likes of Chip or Revolut) Cahoot (owned by Santander) would be fine for the remainder. I wouldn't imagine you'd have the statement or transaction visibility issues you're having with West Brom, with either of those.

It's worth noting there's actually a proposal to increase the standard FSCS limit to £110k - the outcome of the consultation is due in November and it could potentially kick in as early as December.

The increase in the FSCS limit is long overdue. My Excel savings spreadsheet now has over 20 different providers! I am constantly juggling and moving cash around to get the best rates (saving to buy a house) while trying to avoid exceeding the £85K limit (unless it's a reasonably safe large organisation such as Santander).

masonic

dosh37 said:

refluxer said:

BACKTOBACK said:

I am lucky to have an old NLA account with West Brom that still pays 4.31%. I have just over £100k with them which is protected for six months fscs due to a personal injury payout.
West Brom customer service is good but i am concerned that all you can see is around 5 transactions in the online portal. There is no way to get a statement from them. You cant print a transaction list, balance, or statement.
If there is a problem with the online portal, or West Brom go down it could be a problem.
Also i will need to provide proof of funds for a future property purchase just makes things difficult.
I am grateful for the higher rate, but think its odd to not offer any type of statement?

That doesn't sound great - I've not personally come across an easy access savings account that didn't come with some form of regular statements. Statements for few of mine are issued annually rather than monthly, but you can view plenty of previous transactions in online banking or print/save off your own bespoke statements if needed.

There are a number of easy access accounts currently paying more than 4.31% so, as you're not vastly over the £85k FSCS limit, you could open a couple and split your savings between them so that the temporary high balance thing is no longer an issue. A boosted Chase Saver (currently 4.75%) would be a good option for the bulk of it if you've not held an account with them before and (if you want to avoid the likes of Chip or Revolut) Cahoot (owned by Santander) would be fine for the remainder. I wouldn't imagine you'd have the statement or transaction visibility issues you're having with West Brom, with either of those.

It's worth noting there's actually a proposal to increase the standard FSCS limit to £110k - the outcome of the consultation is due in November and it could potentially kick in as early as December.

The increase in the FSCS limit is long overdue. My Excel savings spreadsheet now has over 20 different providers! I am constantly juggling and moving cash around to get the best rates (saving to buy a house) while trying to avoid exceeding the £85K limit (unless it's a reasonably safe large organisation such as Santander).

If you need to split between 20 providers, it raises the question how many millions are you planning to save before you pull the trigger?

dosh37

masonic said:

dosh37 said:

refluxer said:

BACKTOBACK said:

I am lucky to have an old NLA account with West Brom that still pays 4.31%. I have just over £100k with them which is protected for six months fscs due to a personal injury payout.
West Brom customer service is good but i am concerned that all you can see is around 5 transactions in the online portal. There is no way to get a statement from them. You cant print a transaction list, balance, or statement.
If there is a problem with the online portal, or West Brom go down it could be a problem.
Also i will need to provide proof of funds for a future property purchase just makes things difficult.
I am grateful for the higher rate, but think its odd to not offer any type of statement?

That doesn't sound great - I've not personally come across an easy access savings account that didn't come with some form of regular statements. Statements for few of mine are issued annually rather than monthly, but you can view plenty of previous transactions in online banking or print/save off your own bespoke statements if needed.

There are a number of easy access accounts currently paying more than 4.31% so, as you're not vastly over the £85k FSCS limit, you could open a couple and split your savings between them so that the temporary high balance thing is no longer an issue. A boosted Chase Saver (currently 4.75%) would be a good option for the bulk of it if you've not held an account with them before and (if you want to avoid the likes of Chip or Revolut) Cahoot (owned by Santander) would be fine for the remainder. I wouldn't imagine you'd have the statement or transaction visibility issues you're having with West Brom, with either of those.

It's worth noting there's actually a proposal to increase the standard FSCS limit to £110k - the outcome of the consultation is due in November and it could potentially kick in as early as December.

The increase in the FSCS limit is long overdue. My Excel savings spreadsheet now has over 20 different providers! I am constantly juggling and moving cash around to get the best rates (saving to buy a house) while trying to avoid exceeding the £85K limit (unless it's a reasonably safe large organisation such as Santander).

If you need to split between 20 providers, it raises the question how many millions are you planning to save before you pull the trigger?

Take a look at property prices in the South East. To buy a detached house with decent garden & double garage, you need around £650K minimum. From past experience with bad neighbours, I would NEVER EVER buy a semi detached again.

flaneurs_lobster

dosh37 said:

masonic said:

dosh37 said:

refluxer said:

BACKTOBACK said:

I am lucky to have an old NLA account with West Brom that still pays 4.31%. I have just over £100k with them which is protected for six months fscs due to a personal injury payout.
West Brom customer service is good but i am concerned that all you can see is around 5 transactions in the online portal. There is no way to get a statement from them. You cant print a transaction list, balance, or statement.
If there is a problem with the online portal, or West Brom go down it could be a problem.
Also i will need to provide proof of funds for a future property purchase just makes things difficult.
I am grateful for the higher rate, but think its odd to not offer any type of statement?

That doesn't sound great - I've not personally come across an easy access savings account that didn't come with some form of regular statements. Statements for few of mine are issued annually rather than monthly, but you can view plenty of previous transactions in online banking or print/save off your own bespoke statements if needed.

There are a number of easy access accounts currently paying more than 4.31% so, as you're not vastly over the £85k FSCS limit, you could open a couple and split your savings between them so that the temporary high balance thing is no longer an issue. A boosted Chase Saver (currently 4.75%) would be a good option for the bulk of it if you've not held an account with them before and (if you want to avoid the likes of Chip or Revolut) Cahoot (owned by Santander) would be fine for the remainder. I wouldn't imagine you'd have the statement or transaction visibility issues you're having with West Brom, with either of those.

It's worth noting there's actually a proposal to increase the standard FSCS limit to £110k - the outcome of the consultation is due in November and it could potentially kick in as early as December.

The increase in the FSCS limit is long overdue. My Excel savings spreadsheet now has over 20 different providers! I am constantly juggling and moving cash around to get the best rates (saving to buy a house) while trying to avoid exceeding the £85K limit (unless it's a reasonably safe large organisation such as Santander).

If you need to split between 20 providers, it raises the question how many millions are you planning to save before you pull the trigger?

Take a look at property prices in the South East. To buy a detached house with decent garden & double garage, you need around £650K minimum.

The 3-up,3-down terrace in E10 my old man bought early 70's for £4k recently sold for £950k.

masonic

dosh37 said:

masonic said:

dosh37 said:

refluxer said:

BACKTOBACK said:

I am lucky to have an old NLA account with West Brom that still pays 4.31%. I have just over £100k with them which is protected for six months fscs due to a personal injury payout.
West Brom customer service is good but i am concerned that all you can see is around 5 transactions in the online portal. There is no way to get a statement from them. You cant print a transaction list, balance, or statement.
If there is a problem with the online portal, or West Brom go down it could be a problem.
Also i will need to provide proof of funds for a future property purchase just makes things difficult.
I am grateful for the higher rate, but think its odd to not offer any type of statement?

That doesn't sound great - I've not personally come across an easy access savings account that didn't come with some form of regular statements. Statements for few of mine are issued annually rather than monthly, but you can view plenty of previous transactions in online banking or print/save off your own bespoke statements if needed.

There are a number of easy access accounts currently paying more than 4.31% so, as you're not vastly over the £85k FSCS limit, you could open a couple and split your savings between them so that the temporary high balance thing is no longer an issue. A boosted Chase Saver (currently 4.75%) would be a good option for the bulk of it if you've not held an account with them before and (if you want to avoid the likes of Chip or Revolut) Cahoot (owned by Santander) would be fine for the remainder. I wouldn't imagine you'd have the statement or transaction visibility issues you're having with West Brom, with either of those.

It's worth noting there's actually a proposal to increase the standard FSCS limit to £110k - the outcome of the consultation is due in November and it could potentially kick in as early as December.

The increase in the FSCS limit is long overdue. My Excel savings spreadsheet now has over 20 different providers! I am constantly juggling and moving cash around to get the best rates (saving to buy a house) while trying to avoid exceeding the £85K limit (unless it's a reasonably safe large organisation such as Santander).

If you need to split between 20 providers, it raises the question how many millions are you planning to save before you pull the trigger?

Take a look at property prices in the South East. To buy a detached house with decent garden & double garage, you need around £650K minimum. From past experience with bad neighbours, I would NEVER EVER buy a semi detached again.

For a £650k property, you'd typically pull the trigger once you had a large enough deposit. Which could probably be split between 2 accounts when keeping below the FSCS limit.

Even as a cash buyer, you'd only need to split £650k between 8 accounts. To need 20, you'd have in excess of £1.6m.