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The New Top Easy Access Savings Discussion Area
Comments
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My notes, which I presumably based on their T&Cs, say:
B4 3.30pm for next working day receipt. (I think that assumes the request is made on a working day)
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Perhaps you have some knowledge of the internal WB workings, but there's no "sending them a message" involved - like other BSs and banks, you click the "withdraw" option on an account, and the web page gives you the fields to fill in the details. It's always arrived the next day for me.
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Have you any experience of requesting large amounts? I understand that there are no withdrawal limits and I'm looking to move £100k to Zopa this week and would prefer to do this in the fewest number of transactions possible.
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The largest I've done was £35k, and that was done in one go without any extra checks or splits.
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Can only relate my experience of West Brom (note that this is their main system not their websave system).
Over a weekend I logged on and requested a £3K transfer out. Website did state can take up to 2 working days. Nothing by Tuesday midday. I had expected the amount to at least be recorded as a debit on my WB account, but there appeared to be no record of the request or a debit. Contacted Customer Service and was informed they had the request but it hadn't been processed yet - Customer Service person offered and then did process it at that time. It suggested that it needed a member of staff to process it and they hadn't got to it a day and a half after receiving the request. They may always make sure requests are processed within 2 working days, but it was a surprise that the web page I completed was basically a message for a member of staff to process a transaction.
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@soulsaver - not for the top 10 yet, but tagged you in in case it qualifies for it at some future point.
some good news about an interest rate increase - RCi Bank Freedom Savings increasing from 3.85% to 3.95% AER from today (2nd February) for both new and existing accounts.
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Trying to understand the terms of this account, in particular reference to the £100 opening minimum deposit.
I thought maybe it was just £100 to open. I cannot see any reference to any subsequent minimum operating balance.
But page 6 of their 'Using your Account' document says they will not accept any deposit into the account, at any time, that is not at least £100.
Happy to be corrected if anyone understands differently
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Re: RCi Freedom - I opened my account in July 2023 with £100; withdrew the balance to leave £1 in the account in August 2024; the balance has remained at around £1 (with 1p in interest being generated every 3 months) since that time.
I think it just means that you couldn't deposit £43.32 etc - it would need to be £100 or more… perhaps open with £101 and then withdraw the £100 if all you want to do is keep a low balance in the account?
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Thanks, as I thought. I see you didn't make any further deposits. Worth noting if you do wish to, it'll need to be for at least £100 (and you can then withdraw that or part thereof if you wish)
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What's the point in opening it to just keep one quid in it?
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