The New Top Easy Access Savings Discussion Area

mebu60

mebu60 said:

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.

@SnowMan

As expected after waiting overnight I can now use the new account number or the original one to login to West Brom.

Messaged them to ask why it is no longer possible to display individual accounts with their associated transactions rather than the transactions appearing in a pop-up over the top of all available accounts summary list. Received a call only minutes later! Apparently is a fairly recent systems 'upgrade' in response to the fact that previously only a maximum of 10 transactions were displayed and now it's 30 that are available. I suggested a simpler enhancement might have been an option to extend the display range on the existing screen! She will pass on my feedback. I said (nicely, we had a fairly pleasant chat) that I would not hold my breath for anything changing! 

Be aware that one of their security questions is one of those that would be almost impossible for most people to answer if you did not happen to have your detailed account information readily available in front of you (which I did having just tested out whether I could log in using the new account number). What was the amount of my last deposit excluding today? That'll be the one back on 30th May then! 

allegro120

s71hj said:

Can someone remind me why Cahoot Sunny day savers sometimes show an interest rate of 0%. I know I read a reason for this on here somewhere and it's not a worry but I now can't remember! 

It shows 0% when your balance exceeds £3000, but the interest is still accruing on £3k.  I think this is because of 2 tier interest, the system displays the 2nd tier, which is 0%.

s71hj

allegro120 said:

s71hj said:

Can someone remind me why Cahoot Sunny day savers sometimes show an interest rate of 0%. I know I read a reason for this on here somewhere and it's not a worry but I now can't remember! 

It shows 0% when your balance exceeds £3000, but the interest is still accruing on £3k.  I think this is because of 2 tier interest, the system displays the 2nd tier, which is 0%.

I assume if you switch it below £3000 it takes 24 hours or overnight to change back to 5%? I must get my head round this - I keep putting £5000 in Santander Edge saver and £4000 in Cahoot, thinking they are the interest cut off points!!! 

SJMALBA

s71hj said:

allegro120 said:

s71hj said:

Can someone remind me why Cahoot Sunny day savers sometimes show an interest rate of 0%. I know I read a reason for this on here somewhere and it's not a worry but I now can't remember! 

It shows 0% when your balance exceeds £3000, but the interest is still accruing on £3k.  I think this is because of 2 tier interest, the system displays the 2nd tier, which is 0%.

I assume if you switch it below £3000 it takes 24 hours or overnight to change back to 5%? I must get my head round this - I keep putting £5000 in Santander Edge saver and £4000 in Cahoot, thinking they are the interest cut off points!!! 

IME, if the balance goes above £3000 and you remove the excess the same day, it's fine, but if left to the next day, it'll show 0%; after restoring a £3000 balance, it is the next day that the correct rate shows once again.

CuparLad

Rheumatoid said:

People have said this about Natwest as well but I can find no way to pay over 20k even though I have biometrics enabled.

https://www.ulsterbank.co.uk/support-centre/general-banking-information/general/what-are-the-payment-limits.html

janusd

CuparLad said:

Rheumatoid said:

People have said this about Natwest as well but I can find no way to pay over 20k even though I have biometrics enabled.

https://www.ulsterbank.co.uk/support-centre/general-banking-information/general/what-are-the-payment-limits.html

fwiw, I did this yesterday with Ulster, transferring £25k back to my main current account and then ultimately onto Zopa... my limits are set @ 20k with Ulster (biometrics enabled), but when I entered £25,000 to send to my external current account, it when through fine - you just need to answer a couple of questions in the app.

Rheumatoid

CuparLad said:

Rheumatoid said:

People have said this about Natwest as well but I can find no way to pay over 20k even though I have biometrics enabled.

https://www.ulsterbank.co.uk/support-centre/general-banking-information/general/what-are-the-payment-limits.html

That's what it says but I still can't set a payment limit above 20k in Ulster or NW. I am registered for biometrics on both and NW certainly have my address verified as I have been with them since 1983!

Rheumatoid

janusd said:

CuparLad said:

Rheumatoid said:

People have said this about Natwest as well but I can find no way to pay over 20k even though I have biometrics enabled.

https://www.ulsterbank.co.uk/support-centre/general-banking-information/general/what-are-the-payment-limits.html

fwiw, I did this yesterday with Ulster, transferring £25k back to my main current account and then ultimately onto Zopa... my limits are set @ 20k with Ulster (biometrics enabled), but when I entered £25,000 to send to my external current account, it when through fine - you just need to answer a couple of questions in the app.

Ahhh, maybe I will try that then.

taxman1234

I always wonder with all our switching back and forth do we actually lose out on a day's interest without knowing ?

flaneurs_lobster

taxman1234 said:

I always wonder with all our switching back and forth do we actually lose out on a day's interest without knowing ?

Monies need to be on deposit overnight to earn interest. Loss of interest happens when an institution's processes mean that monies are not available same-day in the credited account. 

So yes, you may lose a day's interest (or more) by moving funds.

No, you should be aware of the processing delays imposed by particular institutions.