The New Top Easy Access Savings Discussion Area

flaneurs_lobster

easysaver said:

Zopa
Apologies if this is obvious. Is nominated account linking via open banking achieved through "Zap" on the app? I've no objections to open banking but Virgin Money isn't supported and that's where my flexible ISA resides!

Just looked specifically at the Linked Accounts function in the Zopa app, the list of institutions there is far more comprehensive than the list I saw elsewhere (?) and does include Virgin Money. 

Which bit of Virgin Money however.....

gt94sss2

SickGroove said:

flaneurs_lobster said:

gwapenut said:

Re: Zopa
Just remember before shoving any large amounts in that external transfers from the bank account are limited to £10k per day and just £30k per week. In ase anyone is thinking of withdrawing a large lump sum in a hurry, eg to topup flexibly withdrawn ISAs next month just before the budget ("just in case" they somehow limit that, unlikely I know) or to provide completion monies for a house.

Like a lot of Zopa detail, these things are not obvious but I believe the rolling 24 hour withdrawal limit to a linked bank account is £250k.

https://www.zopa.com/help/article/what-transaction-limits-apply-to-my-account

So if I have 60K in there & need to withdraw all/most of it for a better rate (unlikely I know atm) then I can withdraw it all in one go back to my linked back account, pretty much immediately?

Yes.

You would need to withdraw a sum that large via the savings account/hub and not the current account which has lower withdrawal limits 

In the Smart Savings Hub, if you go to Manage/Linked Accounts you can add the linked accounts in your own name you want to deposit or withdraw money too - it doesn't use open banking.

Cweb

Zopa Withdrawals

I also don’t use Open Banking on Zopa, but I just withdraw straight out of the saving hub access pot, selecting withdraw and send to my verified/nominated HSBC account.

I don't really understand why the current account throws up the payment limit but moving into an access pot then moving to a verified external account does the trick in any case.

My movement is just to ensure the interest falls into 2026/27 tax year on an annual interest rather than Zopa’s daily interest payment.

refluxer

Cweb said:

My movement is just to ensure the interest falls into 2026/27 tax year on an annual interest rather than Zopa’s daily interest payment.

I realise that this won't make a difference to your reasons why you're moving your money, but Zopa pay interest monthly, not daily.

The 'Pending interest' section updates daily, but it's when it's actually credited to the account which matters to HMRC and that happens monthly.

easysaver

flaneurs_lobster said:

easysaver said:

Zopa
Apologies if this is obvious. Is nominated account linking via open banking achieved through "Zap" on the app? I've no objections to open banking but Virgin Money isn't supported and that's where my flexible ISA resides!

Just looked specifically at the Linked Accounts function in the Zopa app, the list of institutions there is far more comprehensive than the list I saw elsewhere (?) and does include Virgin Money. 

Which bit of Virgin Money however.....

The Virgin Money account sort code must start with 05 or 82. I've linked my account but not yet tried a transfer in anger (I don't really want to test a transfer of >£10k at the moment). At least things are set up for when I do require it.

My confusion on linked accounts arose because there are linked accounts at the top level (when opening the app) and what appears to be a separate list of linked accounts in the Smart Savings Hub. There is also this "Discover Zap" thing that you can get to under Payments.

BreakingGlass

Chase

My Chase saver interest rate still shows as 4.3%, despite the 1.8% boost supposedly ending yesterday.  When you click on the interest rate, it now shows a straight 4.3% without mentioning a boost. 

sparky0138

BreakingGlass said:

Chase

My Chase saver interest rate still shows as 4.3%, despite the 1.8% boost supposedly ending yesterday.  When you click on the interest rate, it now shows a straight 4.3% without mentioning a boost. 

Thanks for posting this. My boosted rate expires tomorrow so I'll check after then to see if mine says the same. If it doesn't I need to find an easy access savings account that allows standing orders like this account does so I can keep drip-feeding my Lloyds regular saver.

Does anyone know of any other accounts with good interest rates that allow standing orders please?

flaneurs_lobster

sparky0138 said:

BreakingGlass said:

Chase

My Chase saver interest rate still shows as 4.3%, despite the 1.8% boost supposedly ending yesterday.  When you click on the interest rate, it now shows a straight 4.3% without mentioning a boost. 

Thanks for posting this. My boosted rate expires tomorrow so I'll check after then to see if mine says the same. If it doesn't I need to find an easy access savings account that allows standing orders like this account does so I can keep drip-feeding my Lloyds regular saver.

Does anyone know of any other accounts with good interest rates that allow standing orders please?

Nowhere near 4.3% but Kroo pays 2.9% & Zopa 2%.

jak22

As well as the app still showing the Chase boosted APR, there was an interest payment instead of on the usual 1st of the month. 

ToastLady

My Chase Saver now showing as 2.5% as of today. I did get an interest payment through though, which I wasn't expecting.