The New Top Easy Access Savings Discussion Area

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82111183#Comment_82111183

As ever, the T&Cs are your friends

15. If you’ve reached your account maximum balance, or
your overall maximum balance, we’ll continue to pay
interest even if the interest payment takes you over
the maximum balance. You won’t have to withdraw any
money because of this.

SFCooper

https://forums.moneysavingexpert.com/discussion/comment/82110990#Comment_82110990

Just to clarify. If I filled up my Cahoot with £3000 exactly I’d still receive the interest on the £3000 (but the interest earned would just sit there and not be included in any future interest calculation)?

DodgerPot

Cahoot Sunny

yes exactly

I get my Cahoot interest paid monthly and skim it off and out the account when it’s added

janusd

https://forums.moneysavingexpert.com/discussion/comment/82111192#Comment_82111192

Re: Spring Accelerate - worth repeating that interest is earned on the entire balance, not just the £5k… so no need to necessarily skim off the interest over £5k level on a monthly basis.

friolento

https://forums.moneysavingexpert.com/discussion/comment/82111179#Comment_82111179

First Active and Saga have the same FSCS cover - they both share with Natwest.

My First Active application got referred. They approved it within a working day.

where_are_we

Cahoot Sunny day saver - I went for the annual interest option - less admin. I realise some may want monthly interest for different reasons including getting it before the tax increases from 20% to 22% in the next tax year (if you have gone over your £1000 allowance and you are a basic rate tax payer). I suppose if you have annual interest you could close the CSDS down in March 2027, realise the interest at 20% tax and open a new CSDS and avoid a 22% tax take?

friolento

https://forums.moneysavingexpert.com/discussion/comment/82111261#Comment_82111261

yes if you want to save a bit of interest, you can close your existing account and open a new one with monthly interest.

SloughSally

First Active use 2SV , the second of which is a code sent to your registered UK mobile #, could be a problem if you ever lose your mobile or SIM card since there is no alternative login procedure,

SloughSally

I have accounts with 7 or 8 other major providers including NatWest (who own FA) ,Nwide, Charter ,Scottish widows,Chase ,etc and not one of them requires me to receive a SMS with a security code to enter every time I wish to login.

I am simply pointing out it would cause a problem if for whatever reason you were not able to receive an SMS on your registered mobile #.

SloughSally

Exactly, having the app makes all the difference and unfortunately FS does not have one but still requires the SMS , thanks for endorsing my point.

By the way I also love google when trying to get lists , maybe reverse your search the next time and see the list that does not require an SMS it’s far longer 😂.