The New Top Easy Access Savings Discussion Area

pokemaster

Maybe it was because you left in Aug? I left it till the end of Sept before removing blue rewards and they perhaps had put in a bot to pick out all the leavers at the end of Sept and send them notifications?

also just noticed there is a “document” stating my Blue Rewards saver will be downgraded to a Rewards Saver on 7th November

allegro120

pokemaster said:

Maybe it was because you left in Aug? I left it till the end of Sept before removing blue rewards and they perhaps had put in a bot to pick out all the leavers at the end of Sept and send them notifications?

also just noticed there is a “document” stating my Blue Rewards saver will be downgraded to a Rewards Saver on 7th November

You could be right.  Somebody reported on here much longer absence without any interruption to Barclay's Rainy Day.  I recall some time ago cancelling Blue Rewards, joined back about 9 months later, my Rainy Day was not affected by these changes.  One thing is clear - the procedure is inconsistent.

soulsaver

Bridlington1 said:

soulsaver said:

It's the ToTP 2nd birthday today...

And may I take the opportunity of the 2nd year anniversary of the ToTP list to thank those who have continued to share new info about EA accounts, it's been invaluable to me and I'm sure to many others too.

I'd like to give a special thanks to @soulsaver for maintaining the ToTP thread these last 2 years and the top 10 (ish) list long before that. You've done a splendid job, long may it continue.

Aww shucks.. And many thanks for your very many magnanimous contributions.

Apologies for the thanks not being included for you and the all other contributors in the first post, I got called away before my final edit...

tg99

pokemaster said:

Received a "document" via Barclays app to state they will be downgrading my Rainy Day Saver on 2nd Dec (As I have left Blue Rewards)

Not the 6 months I was hoping but 2 months is still nice of them I guess

Also got the document, 4 Dec for me (I cancelled Blue Rewards 30 Sep).

AndyTh_2

As previously mentioned was going to happen, Chase saver has reduced to 3.75% (without bonus) and 4.75% (with bonus) today

1spiral

How do chip calculate their interest? Their T&Cs state "Interest will be calculated daily and paid monthly on the fourth business day of each month" . I opened their Easy Access account on 26/9 and appear to have been paid 4 days interest but if paid till the end of month, should I not expect 5 days (26,27,28,29 & 30) or are chip one of this organisations that don't pay interest on the date funds are received?

allegro120

1spiral said:

How do chip calculate their interest? Their T&Cs state "Interest will be calculated daily and paid monthly on the fourth business day of each month" . I opened their Easy Access account on 26/9 and appear to have been paid 4 days interest but if paid till the end of month, should I not expect 5 days (26,27,28,29 & 30) or are chip one of this organisations that don't pay interest on the date funds are received?

AFAIK Chip pays interest on the date funds are received so you should get 5 days' interest for September.

flaneurs_lobster

allegro120 said:

1spiral said:

How do chip calculate their interest? Their T&Cs state "Interest will be calculated daily and paid monthly on the fourth business day of each month" . I opened their Easy Access account on 26/9 and appear to have been paid 4 days interest but if paid till the end of month, should I not expect 5 days (26,27,28,29 & 30) or are chip one of this organisations that don't pay interest on the date funds are received?

AFAIK Chip pays interest on the date funds are received so you should get 5 days' interest for September.

Think it's from day after deposit 

• Interest starts to accrue from 12 am the following day after a deposit has cleared

From

https://intercom.help/get-chip/en/articles/9361238-how-is-interest-calculated

1spiral

flaneurs_lobster said:

allegro120 said:

1spiral said:

How do chip calculate their interest? Their T&Cs state "Interest will be calculated daily and paid monthly on the fourth business day of each month" . I opened their Easy Access account on 26/9 and appear to have been paid 4 days interest but if paid till the end of month, should I not expect 5 days (26,27,28,29 & 30) or are chip one of this organisations that don't pay interest on the date funds are received?

AFAIK Chip pays interest on the date funds are received so you should get 5 days' interest for September.

Think it's from day after deposit 

• Interest starts to accrue from 12 am the following day after a deposit has cleared

From

https://intercom.help/get-chip/en/articles/9361238-how-is-interest-calculated

Thanks, that explains it. Must make a note to avoid Friday deposits then.

pecunianonolet

flaneurs_lobster said:

allegro120 said:

1spiral said:

How do chip calculate their interest? Their T&Cs state "Interest will be calculated daily and paid monthly on the fourth business day of each month" . I opened their Easy Access account on 26/9 and appear to have been paid 4 days interest but if paid till the end of month, should I not expect 5 days (26,27,28,29 & 30) or are chip one of this organisations that don't pay interest on the date funds are received?

AFAIK Chip pays interest on the date funds are received so you should get 5 days' interest for September.

Think it's from day after deposit 

• Interest starts to accrue from 12 am the following day after a deposit has cleared

From

https://intercom.help/get-chip/en/articles/9361238-how-is-interest-calculated

So basically if I have a balance of £1000 in my account and make an additional deposit of £100 by 10pm and it is cleared after a few min with Clearbank I won't receive interest for the £100 until the next day? I thought they check what is the balance at 23:59.59 and calculate based on this and that's what the interest calculation is based on and what I accrue at 00:00