GB Bank or Charter easy access

Aidanmc

Do GB bank require £1000 balance or just initial deposit 1000+?

Do both offer same day withdrawals?

jaypers

Never used GB Bank so can’t comment.

Charter - Had various accounts with them for last 5 years or so and they are excellent, one of my favourite savings banks in fact. Only minor downside is that they don’t do immediate payments, so a withdrawal request made before 3pm on a working day hits your nominated account next working day. To get around this, I always keep a float of cash somewhere like Chip, who do SIPs via Faster Payments but guess it depends how much surplus cash you need to move around quickly. 

allegro120

Aidanmc said:

Do GB bank require £1000 balance or just initial deposit 1000+?

Do both offer same day withdrawals?

GB requires £1000 initial deposit within 21 calendar days from account opening.  The minimum operating balance is £1. If your withdrawal is authorised before 1pm, it will be processed and received by your bank on the same day (assuming it is a working day). If your withdrawal is authorised after the cut-off time, it will be received by your bank the following working day.

friolento

I find GB Bank slightly better as you can get same day withdrawals, as per above post.

Only proviso is that it takes a few days to get a GB Bank acct fully operational as they have to snail mail you a verification code. Once you have completed the verification, it’s plain sailing

TomDolan

GB bank, on the plus side it has an app which are similar to Gatehouse, Ford money, RCI. This makes it easier to check the account. Also withdrawal reaches same day if done in the morning.