The New Top Easy Access Savings Discussion Area

masonic

pookey said:

This account is in the "new top easy access thread."
I was thinking easy access ment no restrictions, or is it as long as its easy to withdraw money from? 

I'm not sure why you are singling out this account in particular, when there are several others and have been for many months.

If a holder needed to make one withdrawal per month, then they could use this account for 3 months before it became uncompetitive due to the rate drop linked to repeated withdrawals. That's not so bad for a variable rate account anyway in an environment of falling base rate.

Yellowman

How does one contact Chip if the mobile phone becomes broken or lost?

Is there a telephone number?

ua8

Yellowman said:

How does one contact Chip if the mobile phone becomes broken or lost?

Is there a telephone number?

https://intercom.help/get-chip/en/articles/9101464-lost-or-stolen-mobile-phone

soulsaver

Cahoot Simple svr Iss1/2  c.5.12 NLA Drops to 1.20% wef 09/10/24 (eDoc 22/09)

janusd

soulsaver said:

Cahoot Simple svr Iss1/2  c.5.12 NLA Drops to 1.20% wef 09/10/24 (eDoc 22/09)

Cahoot Sunny Day Saver (Issue 1) is also going to 1.20% on 20/11/24 (at maturity).

chris_the_bee

soulsaver said:

Cahoot Simple svr Iss1/2  c.5.12 NLA Drops to 1.20% wef 09/10/24 (eDoc 22/09)

Cahoot
But their T's&C's say:- 

Can cahoot change the interest rate?

Yes, the rate can go up or down, such as in response to industry and market conditions. If the rate goes down, we’ll let you know around 60 days before the rate changes.

janusd

chris_the_bee said:

soulsaver said:

Cahoot Simple svr Iss1/2  c.5.12 NLA Drops to 1.20% wef 09/10/24 (eDoc 22/09)

Cahoot
But their T's&C's say:- 

Can cahoot change the interest rate?

Yes, the rate can go up or down, such as in response to industry and market conditions. If the rate goes down, we’ll let you know around 60 days before the rate changes.

the interest rate on these Cahoot accounts are only for 12 months - at maturity, the account is converted to a Cahoot savings account (which is currently 1.2%).

5.12% AER/gross (variable) for 12 months from account opening on balances up to £500,000.

This account is for 12 months.
After the term ends, we’ll transfer your money, and interest you’ve earned, into a cahoot Savings
Account. We’ll contact you with more details about that closer to the end of the term.

effectively they've given us a years notice that the rate will change at maturity.

soulsaver

chris_the_bee said:

soulsaver said:

Cahoot Simple svr Iss1/2  c.5.12 NLA Drops to 1.20% wef 09/10/24 (eDoc 22/09)

Cahoot
But their T's&C's say:- 

Can cahoot change the interest rate?

Yes, the rate can go up or down, such as in response to industry and market conditions. If the rate goes down, we’ll let you know around 60 days before the rate changes.

Yep - on checking older eDocs & emails it was first sent 08/08; later one appears to be a reminder.

I think the 'maturity' date & rate change maybe personalised depending when you opened your issue? 

allegro120

soulsaver said:

chris_the_bee said:

soulsaver said:

Cahoot Simple svr Iss1/2  c.5.12 NLA Drops to 1.20% wef 09/10/24 (eDoc 22/09)

Cahoot
But their T's&C's say:- 

Can cahoot change the interest rate?

Yes, the rate can go up or down, such as in response to industry and market conditions. If the rate goes down, we’ll let you know around 60 days before the rate changes.

Yep - on checking older eDocs & emails it was first sent 08/08; later one appears to be a reminder.

I think the 'maturity' date & rate change maybe personalised depending when you opened your issue? 

It should be.  I've opened mine on 18th January and don't expect the rate to fall on 9th October because they haven't given me 60 days notice.  It will be my main instant EA account from 14th October and I hope it will stay 5.12% until 18th January.

pookey

masonic said:

pookey said:

This account is in the "new top easy access thread."
I was thinking easy access ment no restrictions, or is it as long as its easy to withdraw money from? 

I'm not sure why you are singling out this account in particular, when there are several others and have been for many months.

If a holder needed to make one withdrawal per month, then they could use this account for 3 months before it became uncompetitive due to the rate drop linked to repeated withdrawals. That's not so bad for a variable rate account anyway in an environment of falling base rate.

Sorry i didn't mean to single it out. 
My other limited access accounts are named triple access saver or double access something, so this confused me a little.

I use my easy access accounts to fund my monthly savers so not so good for me but something to bear in mind as the rates drop