The New Top Easy Access Savings Discussion Area

mebu60

SnowMan said:

mebu60 said:

SnowMan said:

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.

I even logged out and logged back in again immediately to Coventry but no joy. Just required a bit of patience which is a virtue I do not possess, all done now.

In between opened a West Brom 4 Access Saver Issue 4 at 4.28% as insurance for when the Issue 1 currently at 4.4% either reduces or ends on 31:12:25 (note the Issue 4 has a maturity date of 31:01:27 to avoid the obvious issues with Issue 1 finishing at the year end the day before a bank holiday but the Issue 4 date is a Sunday so again, an odd easily avoidable choice). 

Not the only thing that sets West Brom apart. Although Coventry and West Bromwich are geographically relatively close they are miles apart in their application process. Coventry use your existing details. And, after a slight delay, it's all done. Despite being logged in to West Brom I had to re-enter all my information. And now they hope to let me know within 3 working days whether my application is approved! 

I am also intrigued as to how sign-in will work. Currently it is the Issue 1 account number, DoB and a PIN. Will that then display both accounts? Can I use either account number to log in? What happens when Issue 1 is closed? 

I've got the West Brom 4 access (issue 2) and 4 access (issue 3) and I can log in either through the issue 2 or issue 3 account number (the pin and dob are the same in both cases).

When I opened a second account with West Brom a while back (so different two accounts to those above) I input my address without the county in the address (county is optional in addresses), and while everything else was the same as my original application, they rejected my application. When I rang them up eventually I worked out that they were treating my address as different just because one had the county in it and one didn't. Initially they just told me my application details were different, and it was only when I insisted that nothing had changed, did I discover it was the lack of county causing the issues. Unhelpfully they refused to resolve things and insisted I had to apply again from scratch. At the time you couldn't even see your address when you logged in so it would have been impossible for me to know what address they held for me to enable me to apply again had I not insisted that my details were the same. At least now you can see the address they hold so you don't have to remember whether you originally entered the county or not.   

@SnowMan

Issue 4 actually opened this afternoon and £1 transferred from Issue 1. I tried logging in with the new account number but that didn't work, will try tomorrow in case it requires some form of overnight update. 

Logging in using Issue 1, both accounts are displayed but transactions only seem to appear in a pop up window over the top of the summary accounts. I would much rather select an individual account then see the transactions listed under it. 

Given what you said about address it was probably a good move on my part to put village in the town box as there was no line 2 option which presumably is what I did previously as I got accepted ok for Issue 4.

flaneurs_lobster

winkowinko said:

flaneurs_lobster said:

FishInGlass said:

Another plus with Zopa is the 2% cash back on up to £1500 of direct debits per annum. I thought that was the first year only but I think it refreshes for future years but I am sure someone will correct me if I am wrong.

Interesting point, I opened my current account on 4/10/24, set up a DD for £1500 and got the £30 cashback on 3/11. There's mention (in the online help) of the cashback rate being fixed/capped for a year when it resets, to what it doesn't say, same again?

I'm minded to try the one-off DD trick again but some indication that the offer still applies to my account would be nice.

Who did you make the £1500 direct debit payment to, yourself?

Indeed, a Moneybox EA savings account.

Further consideration on the repeat  - in the absence of any guidance from Zopa, prob best to wait until 12 mth anniversary of payout.

Once you hit the yearly Direct Debit cap, you won’t earn any more cashback until your allowance resets, which will happen each year on the date you opened your account. 

hoppy2

Am I reading this correctly with the zopa account? I funded it on the 21st (yesterday) so I would now be required to fund it again with £500 between 22nd November to the 21st of December to keep the bonus?

Bridlington1

winkowinko said:

flaneurs_lobster said:

FishInGlass said:

Another plus with Zopa is the 2% cash back on up to £1500 of direct debits per annum. I thought that was the first year only but I think it refreshes for future years but I am sure someone will correct me if I am wrong.

Interesting point, I opened my current account on 4/10/24, set up a DD for £1500 and got the £30 cashback on 3/11. There's mention (in the online help) of the cashback rate being fixed/capped for a year when it resets, to what it doesn't say, same again?

I'm minded to try the one-off DD trick again but some indication that the offer still applies to my account would be nice.

Who did you make the £1500 direct debit payment to, yourself?

There's a list of DD ideas on this thread:
https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

Feel free to use the above thread to discuss any of the items on that list or savings DDs more generally.

s71hj

Bridlington1 said:

winkowinko said:

flaneurs_lobster said:

FishInGlass said:

Another plus with Zopa is the 2% cash back on up to £1500 of direct debits per annum. I thought that was the first year only but I think it refreshes for future years but I am sure someone will correct me if I am wrong.

Interesting point, I opened my current account on 4/10/24, set up a DD for £1500 and got the £30 cashback on 3/11. There's mention (in the online help) of the cashback rate being fixed/capped for a year when it resets, to what it doesn't say, same again?

I'm minded to try the one-off DD trick again but some indication that the offer still applies to my account would be nice.

Who did you make the £1500 direct debit payment to, yourself?

There's a list of DD ideas on this thread:
https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

Feel free to use the above thread to discuss any of the items on that list or savings DDs more generally.

It's a fantastic resource I can testify. 

clairec666

hoppy2 said:

Am I reading this correctly with the zopa account? I funded it on the 21st (yesterday) so I would now be required to fund it again with £500 between 22nd November to the 21st of December to keep the bonus?

Yes, that sounds right. The app helpfully tells you how much you still need to deposit and when.

refluxer

hoppy2 said:

Am I reading this correctly with the zopa account? I funded it on the 21st (yesterday) so I would now be required to fund it again with £500 between 22nd November to the 21st of December to keep the bonus?

If you click on your 4.75% Access pots, it'll tell you the deadline for your next payment if you haven't yet qualified for the bonus for next month. If you have qualified, you can click on the right-arrow and get more information on the scheme.

I added £500 yesterday (21st), unlocked the bonus today (22nd) after updating the app and the deadline for qualifying next month was the 22nd Nov, which I met simply by funding the Access pot today with additional deposits via the Biscuit current account. 

dcs34

Zopa 4.75% Access Pot

Does anyone know the maximum daily transaction limit with Zopa - I think it's £10k per day, although their website has a few different limits depending on which page I look at. This is for online / in-app transfers from the savings pot, to an external current account (presumably via the Zopa current account).

The £10k limit would make using this account to fund my monthly regular saver / account minimum pay-in process difficult to do. At lease Ulster allows £20k/day instantaneously and without having to transfer via the linked current account. 

Rheumatoid

anyone got an issue with Zopa app bombing out when trying to view primary access pot? I can look at my CA and RS fine but the access pot causes it to crash.

clairec666

dcs34 said:

Zopa 4.75% Access Pot

Does anyone know the maximum daily transaction limit with Zopa - I think it's £10k per day, although their website has a few different limits depending on which page I look at. This is for online / in-app transfers from the savings pot, to an external current account (presumably via the Zopa current account).

The £10k limit would make using this account to fund my monthly regular saver / account minimum pay-in process difficult to do. At lease Ulster allows £20k/day instantaneously and without having to transfer via the linked current account. 

Not sure about daily limits, but you don't have to do transfer everything via the current account, you can go to "Withdraw" in the smart savings hub and transfer out from there.

Assuming from your post that you've got more that £10k circulating between accounts each month? If so Zopa's not ideal (you can't add nicknames for your linked accounts so it's hard to keep track of what's what) but if you do have to spread your payments over 2 days to keep within limits then at least you're getting a decent rate of interest for the extra day the money's sitting in there.