The New Top Easy Access Savings Discussion Area

shirley999

shirley999 said:

Skipton Member Bonus Saver 2 A

Anyone having the Skipton Member Bonus Saver 2 A, it should be paying 4.75% on balances up to £5,000 but I've just noticed my rate has dropped to 2.55%.  This is what I would expect after 12 months when the fixed bonus of 2.20% ends, but it's only been available since June.  I've queried it with them and they've referred it to their Savings Team.  Check yours!

Hopefully just me then, which is good.  Anyone cares to check back, this is available on the website only as far as I can tell.  Not the first hiccup on my account, it seems.

FishInGlass

shirley999 said:

shirley999 said:

Skipton Member Bonus Saver 2 A

Anyone having the Skipton Member Bonus Saver 2 A, it should be paying 4.75% on balances up to £5,000 but I've just noticed my rate has dropped to 2.55%.  This is what I would expect after 12 months when the fixed bonus of 2.20% ends, but it's only been available since June.  I've queried it with them and they've referred it to their Savings Team.  Check yours!

Hopefully just me then, which is good.  Anyone cares to check back, this is available on the website only as far as I can tell.  Not the first hiccup on my account, it seems.

Mine shows the following

Historical Interest Rates

Effective Date	Gross Rate
01/09/2025	4.750%
09/06/2025	5.000%
05/06/2025	2.800%

Sounds like an issue with yours. 

Bobblehat

I'm glad you posted this ... at least it made me check to see whether the current rate showing (which is correct) was consistent with the historic rates ......



Luckily, all looks correct. It'll be interesting to see what they say about yours!

I hope they don't give you the run-around with their "explanations" like they did with me when I asked why there was a difference in what they sent me (to Santander) and what was received by Santander!

grufferator

Decided to open a joint savings account. Have opened one with Cahoot. Realised they don't have an Android app, and there's no mobile web interface neither. They send physical letters with PIN codes. Compared to Chase - it's like being back in the 2000s. Have then checked the reviews on TrustPilot. Decided to close the account immediately. 

So I looked at the next one in the list - Tesco Bank. Ok, nice. I opened the account, was able to log-in immediately, to look around. The app looks decent and so does the web interface. So I transferred £2000 yesterday. Today I decided to withdraw £300 money as a relative needs some financial help. Noticed the option isn't available on the app. It is available via the web interface though. Tried several times and it gives me an error. Starting to get frustrated at this point, so I call them. Turns out they need to send a letter to my house that I need to sign and then send it back. I can't recall being warned about that anywhere when I signed up. It's also not mentioned anywhere on the MSE page.

Only then they'll be able to unblock my account for transfers. It takes about one week. How is this acceptable in 2025? I'll probably take out my money as soon as they unlock it, and will continue saving on Chase with just 2% interest. My only problem with Chase is it's an app only bank, which is idiotic. I still rock a S10e phone that's quite slow. I want to be able to login on a laptop in case I lose my phone, or break it. What's the logic behind having an app-only bank? 

ColdIron

I quite like Tesco Bank but it's probably worth adding that that is for your first account

However even when opening additional accounts there is usually a 3 or 4 day wait before you can withdraw from them, even internally. It's no problem if you are aware of it, just plan around it, but it's not prominently displayed. They could do better in this area

PS App only banks are not idiotic, their bank, their rules. If it doesn't suit, move on. There is plenty of choice

grufferator

ColdIron said:

I quite like Tesco Bank but it's probably worth adding that that is for your first account

However even when opening additional accounts there is usually a 3 or 4 day wait before you can withdraw from them, even internally. It's no problem if you are aware of it, just plan around it, but it's not prominently displayed. They could do better in this area

I used to have 4.5% interest with Chase for a year, and all that time I was keeping 99% of my money in savings. I'm doing a house refurb, and every time I had to pay a trader, or make a purchase at Screwfix, I'd simply transfer the exact amount I need from savings to my main Halifax account/card to make the payment. If Tesco takes 3 days - I'll close it as soon as I send that signed letter back.

Generally, I find the Halifax and Lloyds apps quite good nowadays. It's getting close to Monzo, and a big pro is that they have the web interface. Too bad their interest rates are crap.

ColdIron

I think you have mis-read my post. That 3 or 4 days is from account opening of additional accounts. After that transfers are pretty much instantaneous including weekends and holidays. By the time you have sent the papers back (for your first account, not every account) you will probably have full control

janusd

grufferator said:

Decided to open a joint savings account. Have opened one with Cahoot. Realised they don't have an Android app, and there's no mobile web interface neither. They send physical letters with PIN codes. Compared to Chase - it's like being back in the 2000s. Have then checked the reviews on TrustPilot. Decided to close the account immediately. 

you opened the account and *then* checked the reviews... err ok. 

the first account with Cahoot always takes time to setup - additional accounts shouldn't... you can use (in a limited way) the Santander app for Cahoot (if not using it for Santander)... as a long-time user of Cahoot, I don't really recognise those reviews as being my experience, but perhaps i'm more familiar with their systems, have more patience and do not expect every banking provider to be like Chase (whose app is excellent).

grufferator

Cahoot is asking me for an SMS code every time I login. Is that the case for everyone, regardless of how long you've use it for?

Rheumatoid

grufferator said:

Cahoot is asking me for an SMS code every time I login. Is that the case for everyone, regardless of how long you've use it for?

it is for me