The New Top Easy Access Savings Discussion Area

janesmith

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

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.

Bridlington1

@soulsaver
Chetwood Bank Easy Access Account 4.86%  NLA

soulsaver

Bridlington1 said:

@soulsaver
Chetwood Bank Easy Access Account 4.86%  NLA

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

I'll just strike it through, for now...

sheffieldeagle

wiseonesomeofthetime 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

fonesaver

sheffieldeagle said:

wiseonesomeofthetime 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 

sheffieldeagle

fonesaver said:

sheffieldeagle said:

wiseonesomeofthetime 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

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

winkowinko

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.

KevinG

soulsaver said:

Bridlington1 said:

@soulsaver
Chetwood Bank Easy Access Account 4.86%  NLA

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

I'll just strike it through, for now...

It's available again https://chetwoodbank.co.uk/savings/easy-access