The New Top Easy Access Savings Discussion Area

BreakingGlass

Coventry

I’ve just opened the new 4 Access at 4.3%, funded with the £1 balance (plus over £2k interest) from closing my old 4 Access, which was at 4.2%.

jaypers

Zopa…..maybe a game changer and will make others like Chase think about their rates? It’s a bit clunky to set up as you have to click on the link to accept it BEFORE you pay in the £500 but once done it’s all easy and the rate shows as it should. Even recommended a family member to join up and we both got the £10 referral credited immediately.

I do think they are a bit basic with their banking facilities and they need to work on their customer service info. I’ve had a few payments out going pending for longer than expected, and when querying on their on their online chat was told that there was nothing the could do, I have to wait and it can take up to 7 days which is absolute nonsense. Both times the payments have gone out in a couple of hours but it’s an odd one.

On the whole though, master stroke by Zopa and I bet there are many tens of thousands going across from Chase to Zopa.

SnowMan

Link to the Coventry Building Society 4 access Saver - 1 year - (4.3% AER variable) mentioned above

https://www.coventrybuildingsociety.co.uk/member/product/savings/limited_access/4-access-saver-1-year.html

Unlike the no longer available 4 access saver (issue 2) - 4.2% AER, this is a one year account

What happens at the end of 12 months?
At the end of 12 months, on the anniversary of account opening, your account will transfer to an Easy Access Saver (Maturity) – an account which allows unlimited withdrawals without charge. Easy Access Saver (Maturity) will pay a lower rate than 4 Access Saver - 1 Year.

And withdrawal restrictions are

Take money out of your account up to 4 times [over the year that the account runs for] with no charge. For the 5th and subsequent withdrawals (which include closure), there will be a charge equal to 50 days' interest on the amount withdrawn.

mebu60

BreakingGlass said:

Coventry

I’ve just opened the new 4 Access at 4.3%, funded with the £1 balance (plus over £2k interest) from closing my old 4 Access, which was at 4.2%.

Annoyingly I am still waiting for the new account opened earlier this morning to appear so that I can follow suit. 

topyam

allegro120 said:

exel1966 said:

Looks like Ulster is going to take a back seat now. How things drop out of favour quickly in this dynamic market, but I wonder who's going to be bold enough to launch a straight 5% without a balance restriction (Cahoot)

Yep, it is notable that savings rates on the way up again.  

Only able to withdraw £2k a day from Ulster from my phone. Another reason to move it all to Zopa.

DRS1

topyam said:

allegro120 said:

exel1966 said:

Looks like Ulster is going to take a back seat now. How things drop out of favour quickly in this dynamic market, but I wonder who's going to be bold enough to launch a straight 5% without a balance restriction (Cahoot)

Yep, it is notable that savings rates on the way up again.  

Only able to withdraw £2k a day from Ulster from my phone. Another reason to move it all to Zopa.

I think you can amend the daily limit to £20k.  I did it online and had to use a card reader to do it but it did work (well I haven't actually transferred anything out yet).

SnowMan

mebu60 said:

BreakingGlass said:

Coventry

I’ve just opened the new 4 Access at 4.3%, funded with the £1 balance (plus over £2k interest) from closing my old 4 Access, which was at 4.2%.

Annoyingly I am still waiting for the new account opened earlier this morning to appear so that I can follow suit. 

I managed to open the 4 access - 1 year and it appeared immediately and I was able to close and transfer my old 4 access closing balance into it. So surprising that you are having problems.

huw01

topyam said:

allegro120 said:

exel1966 said:

Looks like Ulster is going to take a back seat now. How things drop out of favour quickly in this dynamic market, but I wonder who's going to be bold enough to launch a straight 5% without a balance restriction (Cahoot)

Yep, it is notable that savings rates on the way up again.  

Only able to withdraw £2k a day from Ulster from my phone. Another reason to move it all to Zopa.

You can amend the limits in the Ulster Bank app if you select the account  under

Payment and Transfers | Payment Settings | Payment Controls | Payment Limits

It gives you the ability to amend the setting up to £20,000 per day and you can if you wish set different limits to the Mobile App, Internet Banking and Open Banking.

I moved from Chase to Ulster for the 4.5%, not sure I can be bothered with the extra ffaff of opening a Zopa account for an extra 0.25%. Both are variable with a top up rate for 12 months. Who knows where we will be in 6 months time with either.

flaneurs_lobster

huw01 said:

I moved from Chase to Ulster for the 4.5%, not sure I can be bothered with the extra ffaff of opening a Zopa account for an extra 0.25%. Both are variable with a top up rate for 12 months. Who knows where we will be in 6 months time with either.

Why do you not have the Zopa CA/RS already? No hard search and £300/mth 7.1% RS. What's not to like (apart from the daft "Biscuit" branding obvs)?

huw01

flaneurs_lobster said:

huw01 said:

I moved from Chase to Ulster for the 4.5%, not sure I can be bothered with the extra ffaff of opening a Zopa account for an extra 0.25%. Both are variable with a top up rate for 12 months. Who knows where we will be in 6 months time with either.

Why do you not have the Zopa CA/RS already? No hard search and £300/mth 7.1% RS. What's not to like?

Because I have Regular Savers with Monmouthshire (7% and 6% £1500 per month), First Direct (7% £300), Co-op (7%, £250), Nationwide (6.5% £200), BofS & Halifax (£250 x 2, 5.5%) and Santander (£200, 5%). So by cycling money from an easy saver into those each month and as I am retired now I still need to live and have money to move from the easy saver to my current account each month. I know that the Zopa is 7.1% but come on, there becomes a point when you have to say I'm happy with what I have and I cannot honestly be bothered chasing the extra 0.1% or 0.25% percentages.

There are other things to be getting on with in life. I know this is a money saving website but I think I'm doing ok and I'm not losing a second of sleep in missing out on a few extra quid of interest.