The New Top Easy Access Savings Discussion Area

qsk

https://forums.moneysavingexpert.com/discussion/comment/81969565#Comment_81969565

I had to ask for that for closed regular savers for 24/25.

friolento

https://forums.moneysavingexpert.com/discussion/comment/81969610#Comment_81969610

I have found that if you keep a record, e.g. in a simple spreadsheet, of each and every interest payment for a given account, you don't really need the annual tax certificate. In addition, you will then know how much interest you have earned at any given time during a tax year, and can take corrective action if you are busting your personal savings allwance, or would slip into the next tax bracket etc.

I have been declaring savings interest in self assessments well over a decade before providers stopped deducting tax from savings interest, which in itself is now 10 years ago. I have never been asked to produce annual tax certificates to the HMRC.

caveman38

Anyone use or used Cynergy. Their IA pays 4.27% and I want to draw all my money out of my HSBC BS that pays 3.35%. Any Pros and cons you can help me with?

CuparLad

https://forums.moneysavingexpert.com/discussion/comment/81970408#Comment_81970408

I've used them since they were Bank of Cyprus. A few hiccups in the early years, especially with their autentication app, but these days things just work. Their banking app is straightforward, faster payments in and out take about 10 mins and it's easy to upgrade to new issues. I've also yet to hit any of their payment limits. It just works.

In my experience, there are a couple of things to consider:

• They don't operate at weekends / bank holidays or after 6pm (ish) and before 8am (ish), so if you need to withdraw you have to wait until their operating hours. Withdrawals placed during their "off" hours are queued.
• You can't schedule/future date withdrawals. It's actioned immediately during their operating hours.

Others may have different experiences or may add things to the list.

jak22

Unless the account is closed (incl. transfer to a new issue) interest is paid at maturity, which will fall in 27/28 which is due for a 2 %pt tax rate increase over current.

mebu60

https://forums.moneysavingexpert.com/discussion/comment/81970408#Comment_81970408

There's been some booboos over the years (and I very much appreciate the tax free compo) but every other institution isn't squeaky clean either. Main thing to keep an eye on is new issues being released for rate rises not applied to current issues. The process to open the new issue and close and transfer the old is pretty seamless and you get the benefit of crystallising the previous interest to date into the new issue.

oz0707

https://forums.moneysavingexpert.com/discussion/comment/81970408#Comment_81970408

Good bank. Always there or thereabouts with the rate

Zaul22

Cynergys login system and app are very good now. Massive improvement from the coloured square system. But you have to use a 3rd party ID verification service which I don't think is worth the risk.

janusd

@soulsaver

Family BS Online Saver Issue 12 - 4.15% (min £100) annual interest.

previous NLA issues (eg 9 & 10) of this account are currenty paying the same rate.

intalex

https://forums.moneysavingexpert.com/discussion/comment/81970467#Comment_81970467

This should become an MSE footnote…