The New Top Easy Access Savings Discussion Area

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  • boomish
    boomish Posts: 163 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    edited 28 October 2024 at 1:02PM
    Some advice , I’m away working & noticed an email from Skipton BS saying the FA Bonus Saver 1 A interest rate is changing to 3.55% , I’d forgotten this was only 6 months, any advice on moving money back out? 

    Where are others moving to? I’ve seen Chip are now doing 5%, anyone know how hard to move the money out of Skipton? Website seems to indicate max amount if in branch but little about online,  i presume its £125k maximum withdrawal. 
    Also when do we get the interest ? I presume next year some time once the year is up.
  • One can earn 5.34% AER interest with Sidekick on Instant Access. That is by far the highest rate on the market.

    The one 'catch' is one has to invest £1k with them, which I am happy to do to quality for the high rate of interest.

    I have studied the information on their website. However, the details are unclear. I had some queries before I begin saving with them:

    (1) Do they provide telephone support? What is their number? I am very hesitant to invest with a business that neither has branches/offices I can visit nor even telephone support for savers or investors.

    (2) Their information page states: "An additional 0.45% bonus can be earned for 12 months by investing a minimum of £1,000 into a Sidekick investment portfolio" What steps do I need to take?

    When would the 0.45% bonus interest commence? How would it be paid to me please?

    How long do I need to invest for? Am I locked into investing for a certain period of time e.g. 12 months?

    (3) The vast majority of start-up Fintech businesses like Sidekick go bust within a few years. I've seen it time and again. What would happen to (a) my saved money and (b) my investment portfolio if Sidekick closed?

    Thank you everyone!


  • KevinG
    KevinG Posts: 2,025 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 28 October 2024 at 4:14PM
    janesmith said:
    One can earn 5.34% AER interest with Sidekick on Instant Access. That is by far the highest rate on the market.

    The one 'catch' is one has to invest £1k with them, which I am happy to do to quality for the high rate of interest.

    I have studied the information on their website. However, the details are unclear. I had some queries before I begin saving with them:

    (1) Do they provide telephone support? What is their number? I am very hesitant to invest with a business that neither has branches/offices I can visit nor even telephone support for savers or investors.

    (2) Their information page states: "An additional 0.45% bonus can be earned for 12 months by investing a minimum of £1,000 into a Sidekick investment portfolio" What steps do I need to take?

    When would the 0.45% bonus interest commence? How would it be paid to me please?

    How long do I need to invest for? Am I locked into investing for a certain period of time e.g. 12 months?

    (3) The vast majority of start-up Fintech businesses like Sidekick go bust within a few years. I've seen it time and again. What would happen to (a) my saved money and (b) my investment portfolio if Sidekick closed?

    Thank you everyone!


    There is in-app support, which seems to work (there is also an email address support@sidekickmoney.com). Telephone support for app-based savings is pretty rare these days. It's unclear whether you have to invest for 12 months to get the additional 0.45% but I don't think so, it's just that the bonus is only guaranteed for 12 months. It would be paid into the savings account as additional monthly interest (bonus interest is credited monthly, the standard 4.34% is actually credited daily). The savings account is FSCS protected up to £85,000 with GB Bank, I don't know about the investment account. I've opened the savings account and I think I'll stick with that. It took 12 days for my application to be approved, not the one business day that it suggests when you apply.
    2kWp Solar PV - 10*200W Kioto, SMA Sunny Boy 2000HF, SSE facing, some shading in winter, 37° pitch, installed Jun-2011, inverter replaced Sep-2017 AND Feb-2022.
  • soulsaver
    soulsaver Posts: 6,491 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 29 October 2024 at 12:34AM

    "Applications for this product will be available soon. Please come back later."


    I'll just strike it through, for now... :+1:
  • Beehive Money limited edition easy access (nla I believe) drops to 4.95% on 28 August 2024

    Source: email
    I have an alert saying it's due to drop again today. Can anyone tell me what the new rate will be?

    Cheers
  • fonesaver
    fonesaver Posts: 287 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Beehive Money limited edition easy access (nla I believe) drops to 4.95% on 28 August 2024

    Source: email
    I have an alert saying it's due to drop again today. Can anyone tell me what the new rate will be?

    Cheers
    2.50%  from 1st November 
  • fonesaver said:
    Beehive Money limited edition easy access (nla I believe) drops to 4.95% on 28 August 2024

    Source: email
    I have an alert saying it's due to drop again today. Can anyone tell me what the new rate will be?

    Cheers
    2.50%  from 1st November 
    Cheers much appreciated.
  • huw01
    huw01 Posts: 376 Forumite
    Part of the Furniture 100 Posts Photogenic Name Dropper
    Trading 212 seem to be upping the interest on the uninvested cash, its done from 5.1 ot 5.11 to 5.15% in the past few days
  • huw01 said:
    Trading 212 seem to be upping the interest on the uninvested cash, its done from 5.1 ot 5.11 to 5.15% in the past few days
    As a result of Moneybox matching their interest rate.
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