The New Top Easy Access Savings Discussion Area

DRS1

https://forums.moneysavingexpert.com/discussion/comment/82097717#Comment_82097717

Some kind assistant in Santander explained to me once how the £25k limit worked. He seemed to say that it was a limit per transaction and that you could do up to 4 such transactions in a day (although the last might have to be for a little less than £25k so you didn't hit £100k).

lon_don

Why does the NatWest Group multiply these separate "sideline" savings-only accounts (Saga, First Active) instead of simply proposing the same savings account with similar attractive instant access rate (4.50%) under their own brand (NatWest, RBS, or Ulster) ?

castle96

My SimpleSaver shows 4.32. Cant find an 'upgrade' button ???

castle96

confused the hell out of me…Saga… Saga NW… Goldman Sachs…..

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82098217#Comment_82098217

Marketing, innit (or rather the lack thereof).

Probably wants to keep the main brands for their current account/credit card and ancillary offerings.

Saga has its own legacy branding/loyalty and that has value as a stand-alone,

Not really sure where First Active sits, other than a legacy brand from its origins in 1860's Dublin.

jaypers

https://forums.moneysavingexpert.com/discussion/comment/82098220#Comment_82098220

It’s on the main screen where your accounts are listed on the right. Not there if you go into any of the accounts.

flobbalobbalob

https://forums.moneysavingexpert.com/discussion/comment/82098217#Comment_82098217

Because they have loyal customers who stick with 1.00% AER offered under the NatWest brand and don't want to pay them 4.50% AER

x44

Same reason why have savings groups with endless issues of accounts. So that they can bring out a new issue at an attractive higher interest rate, downgrade the old issue to a lower rate, all safe in the knowledge that not many will spot what is going on. Only the relatively few savvy savers will immediatly swap to the new issue while most will langusih in the lower paying earlier issue.

All in all this is a saving for the financial group not having to pay everyone the higher rate if they had upped the rate on the orginal issue.

gt94sss2

https://forums.moneysavingexpert.com/discussion/comment/82098033#Comment_82098033

Yes, though you can do upto and including £100k using this method.

DRS1

https://forums.moneysavingexpert.com/discussion/comment/82098339#Comment_82098339

Now you mention he did say that sometimes it works and sometimes it doesn't.