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The New Top Easy Access Savings Discussion Area
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I thought I'd throw this into the open for anyone who happens to be interested, these are lists of top EA accounts that I occasionally compile when deciding whether to change the thresholds for the Top Regular Savers Discussion thread and what to set them as.
They're not as good as the ones compiled by @soulsaver or @ircE but are a slightly different take on them.
- Accounts in red are accounts that are restricted to new customers only so not everyone on here shall be eligible for them.
- Accounts in green have a low (£10 or less) minimum deposit and allow unlimited penalty free withdrawals.
- Accounts in blue have a low (£10 or less) minimum deposit but restrict the number of penalty free withdrawals you can make.
- Accounts in purple have a high (greater than £10) minimum deposit and allow unlimited penalty free withdrawals.
- Accounts in orange have a high (greater than £10) minimum deposit and restrict the number of penalty free withdrawals you can make.
The ``Top 10 Avg" is the average of the top 10 accounts, the ``Top 10 OA Avg" is the average of the top 10 accounts that aren't red.
These lists don't take how long withdrawals take or withdrawal cut off times into account simply because neither do the lists on p1 of the regular savers thread. Accounts with a low maximum balance (e.g. Santander Edge Saver) aren't included in these lists as for threshold purposes I assume everyone is rather well off so shall still have money leftover after filling them up.
Interest rates shown go off projected interest rates, i.e. rates after any announced upcoming interest rate changes come into effect.
Usual applies, if you wish to discuss regular savers, please use Top Regular Savers Discussion thread. These tables are provided here for the easy access account side of things only.
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With the Ulster rate dropping to 4.25% in a few days I am looking for an alternative easy access account.
I am considering the Tembo HomeSaver at 4.55% (including the bonus for the first year). However I see from their product summary box that withdrawals typically take two working days to process. That seems a big downside, especially if there is a loss of interest for those days.
Does anyone have any experience of the account and can confirm if this is how long withdrawals actually take?
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I never got as far as withdrawing from Tembo, but something annoying I did experience…
I was going to withdraw, & I got the message below. Odd, it's a Homesaver Account with a maximum balance of £25K, not an ISA with an allowance. I don't even have an ISA with them.
I went to chat, only to find it's an AI bot, who confidently told me 'you're actually withdrawing from an ISA not a HomeSaver.' I repeated it, I don't have an ISA, and the AI bot acknowledges I was "absolutely right," quoting the facts I originally gave it back to me. 🙄
Tells me I need to type "talk to a person," so I did… it asked for more details, I told them to just read the chat, and left. 24 hours later, I see there's no reply from a person, but a message from the bot asking "what should we call you?" 🙄🙄 I'm signed into an app FGS, you know my name.
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Coventry have a triple access 4.25%(Mentioned already). They bought out new issues before the last BoE cut. Then oversized the cut to all old issues and only cut the new issue by .15%. That seems to be their model,
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Coventry 3 access saver
How do you get to 6 charge free withdrawals?
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You don't, this a triple access, which is 3 withdrawals. They do 4 and sometimes 6 accounts, but they are currently NLA, I thnk.
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An update from a Tembo human about the misleading message when withdrawing from the HomeSaver. They copied and pasted rules & entirely miss my point that an ISA warning is wrongly being displayed for a different non-ISA account. It's a bit disconcerting the staff can't recognise that's an issue (IMO anyway). 🫤
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A cut & paste operation by Coventry BS most likely.
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Coventry website site is optimised for Edge and Chrome. This is what they told me when I complained over a year ago with Firefox access problems.
Firefox does not work properly on a some parts if their website. It used to, I originally used Firefox to open my accounts.
I suggested that their home page should advise potential customers to only proceed only if they were willing to use Edge or Chome.
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There's a discussion in the CoventryBS thread in the Banking forum which gives details and a potential fix. If a Firefox user locks down the browser, such as using Private Windows, then the Coventry site gives problems - see the posts there - try https://forums.moneysavingexpert.com/discussion/comment/81859988
It's not specific to Easy Access Savers.
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