top easy access

PaulDesmond

Hi. I have a regular 10% fixed savings account. Reading on the main website it is sugested that I put any available cash into a top easy access account and drip feed this into my 12 month fixed interest account each month. £250 per month for me. The problem I see is these top easy access acounts will only allow 3 withdrawls without paying a penalty. I would be making monthly drip feed payments into the fixed interest account. Can asnyone help with this please.

jaypers

For the feeder, keep the money in an EA account that doesn’t have restrictions. Tandem maybe at 4.4%

PaulDesmond

THe one that M.L sugests on the website is Moneybox. This is 5% but after 4 withdrawls it reduces to  "0.75% from the fourth onwards" How do  find an EA that does not have restrictions?

jaypers

PaulDesmond said:

THe one that M.L sugests on the website is Moneybox. This is 5% but after 4 withdrawls it reduces to  "0.75% from the fourth onwards"

Making it unsuitable as a drip feed account so use a different account for that.

PaulDesmond

Chetwood bank seems to be a good one?

Stargunner

There are plenty to choose from
https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/

cloud_dog

If you use Ford Money or GateHouse they offer the option of repeating withdrawals each period, e.g. month, etc.

PaulDesmond

Thanks for the link.

Bigwheels1111

Do you have an ISA this year, if not Trading212 is paying 4.9% at the moment.

Easy access, plus you can top it up to 20k and drain it, the refill it again.

Just don't go over the 20k, excluding interest.

I just funded 19 regular savers today with just over 4k.

That drops to 14 in February as some have or are just about to mature.

 

wiseonesomeofthetime

My RS are currently fed from Gatehouse Easy Access at 5% (a matured RS account not available to newcomers, however, this will turn to 4.75% the end of the month, same as the EA that IS available to new customers.

Allows unlimited withdrawals.

I took have the Trading212 4.9% ISA, though obviously leave that alone and withdraw from lower interest accounts.

NorwichMan

For the Gatehouse EA, are withdrawals immediate or next working day?