The New Top Easy Access Savings Discussion Area

[Deleted User]

soulsaver said:

@simonsmithsays posted the following link in the ToTP thread:

Tipton Loyalty Double Access Saver 5.0%
 
I've added:

Branch/Postal.
Loyalty Eligibility: Must hold an account that was opened on or before 30th June 2024
£1k min operating balance, £20k max. 

Would you say this should still be available next week?

Its the £1k bit I'm having to hold out for

soulsaver

Barclays Rainy Day Saver 5.12% £5k max:

At first glance, appears to be a smaller balance, top rate.

But the requirement for a Premier/ Blue rewards ac & accompanying charges means you can't actually achieve that rate? 

So I'm considering deleting it from the ToTP list. 

Any thoughts?

Middle_of_the_Road

soulsaver said:

Barclays Rainy Day Saver 5.12% £5k max:

At first glance, appears to be a smaller balance, top rate.

But the requirement for a Premier/ Blue rewards ac & accompanying charges means you can't actually achieve that rate? 

So I'm considering deleting it from the ToTP list. 

Any thoughts?

Agreed, as they now won't pay the £5 for direct debits and the monthly deposit requirement, the Rainy day saver's not as attractive as it once was.

jaypers

soulsaver said:

Barclays Rainy Day Saver 5.12% £5k max:

At first glance, appears to be a smaller balance, top rate.

But the requirement for a Premier/ Blue rewards ac & accompanying charges means you can't actually achieve that rate? 

So I'm considering deleting it from the ToTP list. 

Any thoughts?

Only caveat to the charges thing is that Premier customers get access to the account for free. If you don’t qualify for a Premier account the only way to get a Rainy Day Saver is via Blue Rewards which effectively does cost the £5 per month now as no kick back for DDRs. 

JamesRobinson48

soulsaver said:

Barclays Rainy Day Saver 5.12% £5k max:

At first glance, appears to be a smaller balance, top rate.

But the requirement for a Premier/ Blue rewards ac & accompanying charges means you can't actually achieve that rate? 

So I'm considering deleting it from the ToTP list. 

Any thoughts?

The Barclays Rainy Day Saver costs me nothing, as I qualify for Barclays Premier for free by virtue of my income level. So I think it depends on your conception of the list: should it be limited to accounts that are readily available to everyone?; or should it also include accounts with some kind of hurdle that makes them available or worthwhile only for the relatively affluent? If the former, then consider also excluding the three accounts in your Top 10 that have a £20k or £25k minimum balance. Personally I would leave in the Barclays Rainy Day Saver, with an appropriate footnote. But of course, it's your list so your choice. It's good of you to reach out. And of course, thanks for maintaining the list.

soulsaver

JamesRobinson48 said:

soulsaver said:

Barclays Rainy Day Saver 5.12% £5k max:

At first glance, appears to be a smaller balance, top rate.

But the requirement for a Premier/ Blue rewards ac & accompanying charges means you can't actually achieve that rate? 

So I'm considering deleting it from the ToTP list. 

Any thoughts?

The Barclays Rainy Day Saver costs me nothing, as I qualify for Barclays Premier for free by virtue of my income level. So I think it depends on your conception of the list: should it be limited to accounts that are readily available to everyone?; or should it also include accounts with some kind of hurdle that makes them available or worthwhile only for the relatively affluent? If the former, then consider also excluding the three accounts in your Top 10 that have a £20k or £25k minimum balance. Personally I would leave in the Barclays Rainy Day Saver, with an appropriate footnote. But of course, it's your list so your choice. It's good of you to reach out. And of course, thanks for maintaining the list.

Left included - linked to this discussion on the subject.

AndyTh_2

soulsaver said:

JamesRobinson48 said:

soulsaver said:

Barclays Rainy Day Saver 5.12% £5k max:

At first glance, appears to be a smaller balance, top rate.

But the requirement for a Premier/ Blue rewards ac & accompanying charges means you can't actually achieve that rate? 

So I'm considering deleting it from the ToTP list. 

Any thoughts?

The Barclays Rainy Day Saver costs me nothing, as I qualify for Barclays Premier for free by virtue of my income level. So I think it depends on your conception of the list: should it be limited to accounts that are readily available to everyone?; or should it also include accounts with some kind of hurdle that makes them available or worthwhile only for the relatively affluent? If the former, then consider also excluding the three accounts in your Top 10 that have a £20k or £25k minimum balance. Personally I would leave in the Barclays Rainy Day Saver, with an appropriate footnote. But of course, it's your list so your choice. It's good of you to reach out. And of course, thanks for maintaining the list.

Left included - linked to this discussion on the subject.

Thanks. It's bad enough that MSE doesn't even mention Blue Rewards benefits are available to Premier account customers for free in it's article https://www.moneysavingexpert.com/news/2024/06/barclays-blue-rewards-loyalty-reward-shake-up/ 

allegro120

I've canceled my Blue about 4 weeks ago, but Rainy is still showing.  I'm not using it because I still have better EA rates elsewhere, but might take an advantage this time next month if Barclays still keeps it opened and don't lower the rate.

winkowinko

Barclays will automatically make you a premier customer (for free), if your income/ or amount you hold with them exceeds a certain amount.

I had the required amount (can't remember what the threshold was) with Barclays about 10 years ago, but then bought a house, and took the balance down to well below the minimum amount required to be a premier customer. 

I called them and asked if they were now going to start charging my £5 a month for my blue rewards saver, but they said they wouldn't. That was 10 years ago, and I still have my full premier customer perks now without actually having much money with them besides the £5k in the rainy day saver.

In a nut shell, give them (if you have it) whatever it requires to automatically become a premier customer, stick £5k in the rainy day saver, and then withdraw the rest. They won't downgrade your account.

Zaul22

Theoretically you could make the £5 fee back in cashback and therefore get 5.12%, but the cashback is only for a few months.