The New Top Easy Access Savings Discussion Area

Mrs_Trellis_of_North_Wales

https://forums.moneysavingexpert.com/discussion/comment/81969029#Comment_81969029

Didn't "Account services" and then "Move money between Principality accounts" work?

SnowMan

https://forums.moneysavingexpert.com/discussion/comment/81969029#Comment_81969029

Go to account services (the tab at the top between your account and messages)

And then choose 'close account' from that menu picking the Principality account you want to close and the Principality account you want the closure balance with interest to go to.

Takes a working day or so for them to then close the account and transfer over.

Or if just wanting to do an internal transfer without closing either account it is 'account services', 'move money between Principality accounts'

DRS1

https://forums.moneysavingexpert.com/discussion/comment/81969029#Comment_81969029

Others have pointed out the way to do it. But I have to agree that it is not immediately obvious. In particular when you get the page about fund this account there is no option for an internal transfer. And when you go into the accounts themselves there is no route for moving money between accounts. But once you see how they do it, it is quite easy.

It is a pity the closed account seems to disappear completely so the closing interest figure is something you have to work out for yourself but perhaps that will come in a secure message sometime (don't they send a lot of them?)

oz0707

https://forums.moneysavingexpert.com/discussion/comment/81969547#Comment_81969547

That's another reason I don't like closing accounts in case you lose access to the tax certificate the following year. Does anyone know if you can still get one with principality once you close the account?

DRS1

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

Someone may know. I might find out on Monday or sometime next April.

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.