What do you do with your "profit" ?

ZeroSum

Nasqueron said:

ZeroSum said:

Nasqueron said:

where_are_we said:

Regular Savers give you the highest interest on cash savings.

Regular savers can be beaten - Santander do a 6% Edge saver linked to the current account, with a switch and/or cashback for opening and not activating the fee you can earn and save £4000 per saver (I believe now you can have 3) and that is 6% on £4k from the off, not paying in monthly. Moreover, most regular savers cap at £150-£300 a month so unless you have the max in the NatWest one (5.25% on 5k) they're not always that efficient

The 6% is only for a year then drops to 4%
I believe theres 3 reg savers paying 7% or more currently (FD, co-op & zopa) then nationwide paying 6.5% & Lloyd's 6.25%

If you do get 3 edge accounts you do also need enough DDs to clear the £3 fee

The 6% is only for a year then drops to 4%

- yes so you close and open a new one?

I believe theres 3 reg savers paying 7% or more currently (FD, co-op & zopa) then nationwide paying 6.5% & Lloyd's 6.25%

- do you understand how regular savers work? You don't get 7% interest on the total, you get an accumulating amount of interest e.g. 7% on £300, then 7% on £600. I have the First Direct one, £300 a month - that gives you £135 interest at maturity. Santander Edge Saver would pay ~ £240 for the year

If you do get 3 edge accounts you do also need enough DDs to clear the £3 fee

-as I said in my post you don't activate the fee 

Does closing & opening work? As its made out to be just an introductory offer for the current account.

Yes im fully aware how RS work. However with stoozing, your drip feeding savings from when you spend, so they're ideal stooze accounts.

How do you not activate the fee?

Nasqueron

ZeroSum said:

Nasqueron said:

ZeroSum said:

Nasqueron said:

where_are_we said:

Regular Savers give you the highest interest on cash savings.

Regular savers can be beaten - Santander do a 6% Edge saver linked to the current account, with a switch and/or cashback for opening and not activating the fee you can earn and save £4000 per saver (I believe now you can have 3) and that is 6% on £4k from the off, not paying in monthly. Moreover, most regular savers cap at £150-£300 a month so unless you have the max in the NatWest one (5.25% on 5k) they're not always that efficient

The 6% is only for a year then drops to 4%
I believe theres 3 reg savers paying 7% or more currently (FD, co-op & zopa) then nationwide paying 6.5% & Lloyd's 6.25%

If you do get 3 edge accounts you do also need enough DDs to clear the £3 fee

The 6% is only for a year then drops to 4%

- yes so you close and open a new one?

I believe theres 3 reg savers paying 7% or more currently (FD, co-op & zopa) then nationwide paying 6.5% & Lloyd's 6.25%

- do you understand how regular savers work? You don't get 7% interest on the total, you get an accumulating amount of interest e.g. 7% on £300, then 7% on £600. I have the First Direct one, £300 a month - that gives you £135 interest at maturity. Santander Edge Saver would pay ~ £240 for the year

If you do get 3 edge accounts you do also need enough DDs to clear the £3 fee

-as I said in my post you don't activate the fee 

Does closing & opening work? As its made out to be just an introductory offer for the current account.

Yes im fully aware how RS work. However with stoozing, your drip feeding savings from when you spend, so they're ideal stooze accounts.

How do you not activate the fee?

Does closing & opening work? As its made out to be just an introductory offer for the current account.

-- Why would it not? I have done it already so yes it does but the 6% includes the 2% bonus for a year, there is nothing to stop you just closing it and opening a new one, it takes about a week. The edge saver is only tied to the current account in that you need one to have the saver. The 2% bonus is not a one off, it's 12 months for each saver. I currently have 2 of each maxed out.

Yes im fully aware how RS work. However with stoozing, your drip feeding savings from when you spend, so they're ideal stooze accounts.

-- As you build up a pot it's obvious that once you have more than say £300-600, it's more beneficial to put it in the 6% which accumulates every day than drip feeding - the maths is above - £3600 in First Direct 7% pays £135 vs £240 in Edge saver. Moreover with money transfers it's even less sense to have a regular saver

How do you not activate the fee?

-- Don't have any direct debits on the account

kimwp

ZeroSum said:

Nasqueron said:

ZeroSum said:

Nasqueron said:

where_are_we said:

Regular Savers give you the highest interest on cash savings.

Regular savers can be beaten - Santander do a 6% Edge saver linked to the current account, with a switch and/or cashback for opening and not activating the fee you can earn and save £4000 per saver (I believe now you can have 3) and that is 6% on £4k from the off, not paying in monthly. Moreover, most regular savers cap at £150-£300 a month so unless you have the max in the NatWest one (5.25% on 5k) they're not always that efficient

The 6% is only for a year then drops to 4%
I believe theres 3 reg savers paying 7% or more currently (FD, co-op & zopa) then nationwide paying 6.5% & Lloyd's 6.25%

If you do get 3 edge accounts you do also need enough DDs to clear the £3 fee

The 6% is only for a year then drops to 4%

- yes so you close and open a new one?

I believe theres 3 reg savers paying 7% or more currently (FD, co-op & zopa) then nationwide paying 6.5% & Lloyd's 6.25%

- do you understand how regular savers work? You don't get 7% interest on the total, you get an accumulating amount of interest e.g. 7% on £300, then 7% on £600. I have the First Direct one, £300 a month - that gives you £135 interest at maturity. Santander Edge Saver would pay ~ £240 for the year

If you do get 3 edge accounts you do also need enough DDs to clear the £3 fee

-as I said in my post you don't activate the fee 

Does closing & opening work? As its made out to be just an introductory offer for the current account.

Yes im fully aware how RS work. However with stoozing, your drip feeding savings from when you spend, so they're ideal stooze accounts.

How do you not activate the fee?

Stoozing isn't always a drip feed. I did money and balance transfers to get a lump sum.