Instant access saving account for lump deposit

winkowinko

@danny13579

No idea if it's new, but I was looking at your useful guide from 2024 and compared it to the current switch requirements to see if it's still valid.

danny13579

winkowinko said:

@danny13579

No idea if it's new, but I was looking at your useful guide from 2024 and compared it to the current switch requirements to see if it's still valid.

I just had a quick look at the terms and from what I can see, the guide will still work. The timelines are the same as previous offers. You just need to make sure the direct debits are household direct debits.

The can't have held a Santander account on such and such a date (for this offer it's 1st January 2025), I don't remember seeing that before either, but doesn't affect the guide either. 

redpete

danny13579 said:

redpete said:

danny13579 said:

Santander Edge Saver. You'll get 6% AER interest on balances up to £4,000. You can move money in or out of it at anytime. You need to set up the Edge Current Account first. 

OP wrote "i dont want a new current account"

One of the simple easy access accounts with no minimum balance, no connected current account, no withdrawal restrictions is Skipton BS paying 4.11%, although this includes a bonus that drops after 12 months.

I also said they don't ever have to use it. 🙄 But if they would rather get 4.11% instead of 6% interest just so they don't have to open a current account, have it sitting there doing nothing and get a bonus for doing so, so be it. 

It's their money. If they care to follow to follow your advice rather than mine, their choice.

For whatever reason they don't want to open another current account, they said twice in the request that they want a stand-alone savings account. I'm sure the subsequent discussion about managing the Santander accounts for best advantage will convince them to avoid it - they want simplicity.

allegro120

MasterDebator said:

Hello all, and apologies in advance if this has already been discussed, any repetition i make, and for the length of this post. I'm having issues navigating savings accounts external to my current banking. I have cognitive issues which don't help! I have two savings accounts already with my bank at max and don't want to change them, and I cant get another one with that bank. I JUST want a stand alone savings account external to my current bank. I was gifted £4000 and I want to put it into an external instant access account so it doesn't sit in my current account earning no interest, but I need to be able to withdraw from it every 4 weeks or so. I just want to put the £4000 into an account in one go. I don't want to regularly save. Just put the money into an account. I did consider CHIP but open banking is scary - I don't want their AI "analysing my spending", and while I do understand their autosave features can be turned off it seems very invasive and i don't want it. SO, is there anywhere I can just put 4 grand without all the other !!!!!!? I don't want a fixed term account, i dont want a new current account, I dont want a joint account,  I just want a simple stand alone instant access saving account that'll take the lump sum and that's it! Any nice constructive help appreciated. Thank you. Again, sorry for length and repetition my brain is mush.

Cahoot Simple Saver should fit your needs. It pays 4.55%, deposits and withdrawals are instant 24/7, very simple and straight forward. https://www.cahoot.com/products-and-services/cahoot-simple-saver

danny13579

allegro120 said:

Cahoot Simple Saver should fit your needs. It pays 4.55%, deposits and withdrawals are instant 24/7, very simple and straight forward. https://www.cahoot.com/products-and-services/cahoot-simple-saver

If OP is absolutely adamant about not opening a current account and wants the £4k in one account only, then this is probably their best option. 👍

lon_don

From today 9/6  https://www.chase.co.uk/gb/en/saver-boosted/  5% (for 1 year, subject to BOE cut ie the rate is actually BOE Base Rate-1.50%+2.25%) instant access, need to open a current account with Chase too.

allegro120

lon_don said:

From today 9/6  https://www.chase.co.uk/gb/en/saver-boosted/  5% (for 1 year, subject to BOE cut ie the rate is actually BOE Base Rate-1.50%+2.25%) instant access, need to open a current account with Chase too.

I'd definitely go for this if I was qualified.  As the base rate is on decline this boost should keep this account in the TOTP for a year. Chase current account is something worth having too (1% cash back on shopping).