The New Top Easy Access Savings Discussion Area

Middle_of_the_Road

https://forums.moneysavingexpert.com/discussion/comment/82107934#Comment_82107934

Any pointers?

aroominyork

https://forums.moneysavingexpert.com/discussion/comment/82107703#Comment_82107703

I opened First Active this morning. Transfers from and to my Nationwide current account were instant.

EthicsGradient

https://forums.moneysavingexpert.com/discussion/comment/82107605#Comment_82107605

But it's not open to "brand new customers only"; you have to already have a Virgin savings account. It's an offer to those with a savings account, but not a current account, to open a current account, to get the high interest. They will, I think, say it comes under Promise 2:

"We’ll reward existing savers with exclusive savings accounts (product eligibility criteria will apply).

What this means for you:

As a thank you for saving with Nationwide, from time to time we offer member-exclusive savings accounts. Always make sure you check the criteria."

GOTfan

https://forums.moneysavingexpert.com/discussion/comment/82107864#Comment_82107864

I had one that I had opened to access another account, plopped £20 in & ignored; after a year, VM marked it as "inactive" so I've recently closed it, but I note that VM have not wanted to give me a credit card since this happened.

jaypers

https://forums.moneysavingexpert.com/discussion/comment/82108175#Comment_82108175

Still completely contradicts ‘Promise 1’ - “We don’t want to punish loyalty. You won’t miss out on savings accounts just because you already have accounts with us.”

andyhicks88

https://forums.moneysavingexpert.com/discussion/comment/82108175#Comment_82108175

And as a member of nationwide (and virgin) I AM missing out on a special savinsg account rate, so yes that is punishing loyalty and goes against the promise.

wiseonesomeofthetime

Spring Accelerate Saver

In case not already mentioned, be advised that, unlike Cahoot, who allow you to exceed the £3k in the Sunny Day Saver and not just earn interest on the excess, Spring actually return any deposit that causes the Accelerate Saver to exceed a £5k balance.

I had two deposits rejected Friday, before I realised the issue, reduced my deposit and it went through instantly.

Freedommm

Applied for both First Active and Oxbury accounts. Did not go for SAGA and Cahoot due to FSCS limitations within the same banking institutions!

Both sites said to wait a few days until they decide whether to approve or request further info etc. How many days does this bureaucracy waiting time usually take?

jaypers

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

What happens to interest payments if you have £5000 sitting there?

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.