Snoop Savings

thevoid69

Hi, I've seen Snoop Easy Savings are giving 4.35% which would be good as my Chase boosted rate will end next month. 

Is Snoop just as good/safe? There doesn't seem to be any restrictions on withdrawing. 

Thanks

flaneurs_lobster

I downloaded Snoop just to check it out.

The basic savings account is fine, withdrawals for same day action have to be made by 11am on a banking day, no withdrawals are actioned on non-working days.

Needs to be "connected" to an external current account. Will offer to analyse your banking activity in order to bestow great order and wisdom to your spending decisions.

Overall, I just found the whole proffer rather irritating (I've found the same with Plum et al) but if you can ignore this, or even embrace it, it seems to do what you want.

allegro120

thevoid69 said:

Hi, I've seen Snoop Easy Savings are giving 4.35% which would be good as my Chase boosted rate will end next month. 

Is Snoop just as good/safe? There doesn't seem to be any restrictions on withdrawing. 

Thanks

It is safe and delivers what's promised.  There are no restrictions, but it takes almost the whole day for withdrawals to arrive to your bank account, so if you need money in the morning or day time you have to withdraw a day before.  I stopped using it when they reduced the rate to 4.35% as I have easy access accounts paying much better rates.

MichaelAP

I have been using it since early June this year. 
Honest impressions are positive for me.
I like the fact interest is shown and paid daily Mon to Fri. Sat/Sun is paid on the Monday
As @flaneurs_lobster mentions, just ensure you add or withdraw before 11am on working days. Transactions are not instantaneous, you have to wait a couple of hours but they always come through. I have done this many times right up to the last minute and they still action your request later that day.

TIALTNGO

I've been using it for 3 - 4 months and does what it says on the tin.  As mentioned if needing money same day make withdrawals before 11am.  I wouldn't attempt withdrawals on the weekend as will not arrive until Monday.  Same for deposits if made before 11am posted same day.  If weekend will be posted Monday

Eyeful

Always do your own protection checking, before handing over your money to any organisation.

1. Is this who you mean?
https://snoop.app/

2. Their FRN = 911638 (shown at the bottom of their page)

3. FSCS Savings Protection Checker. This will tell you how much FSCS protection you will get.
Type in the FRN which is 911638
https://www.fscs.org.uk/check/check-your-money-is-protected/

premierfella

Eyeful said:

Always do your own protection checking, before handing over your money to any organisation.

1. Is this who you mean?
https://snoop.app/

2. Their FRN = 911638 (shown at the bottom of their page)

3. FSCS Savings Protection Checker. This will tell you how much FSCS protection you will get.
Type in the FRN which is 911638
https://www.fscs.org.uk/check/check-your-money-is-protected/

That doesn't tell the full story in this case. Snoop doesn't hold the money at any point in the process is my understanding of how it works.

The reason it is FSCS protected is because the money goes to a hub account (the reason for the 11am cut-off for same day transaction no doubt) and is FSCS protected via the bank that account is held with (arranged by Bondsmith) and then on to an FSCS protected account with Vanquis. I accept some people get slightly queezy about the way that process works.

Eyeful

premierfella said:

Eyeful said:

Always do your own protection checking, before handing over your money to any organisation.

1. Is this who you mean?
https://snoop.app/

2. Their FRN = 911638 (shown at the bottom of their page)

3. FSCS Savings Protection Checker. This will tell you how much FSCS protection you will get.
Type in the FRN which is 911638
https://www.fscs.org.uk/check/check-your-money-is-protected/

That doesn't tell the full story in this case. Snoop doesn't hold the money at any point in the process is my understanding of how it works.

The reason it is FSCS protected is because the money goes to a hub account (the reason for the 11am cut-off for same day transaction no doubt) and is FSCS protected via the bank that account is held with (arranged by Bondsmith) and then on to an FSCS protected account with Vanquis. I accept some people get slightly queezy about the way that process works.

1. I have never heard of Snoop before and have not investigated what they are offering.
So what you state may or may not be correct..
The fact is that Snoop itself has no FSCS protection..

2. https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/
https://www.thisismoney.co.uk/money/article-1583859/Best-savings-rates-General-savings-Internet-branch.html
Using either of the above websites, I see that there are a number of places, that when run through the FSCS checker do have FSCS Protection. I would personally put my money with one of those than with Snoop.
Perhaps the OP might wish to consider them as well as Snoop.

Always do your own protection checking, before handing over your money to any organisation.

35har1old

thevoid69 said:

Hi, I've seen Snoop Easy Savings are giving 4.35% which would be good as my Chase boosted rate will end next month. 

Is Snoop just as good/safe? There doesn't seem to be any restrictionssted on withdrawing. 

Thanks

Can you not close the Chase boosted and open another boosted account 

wmb194

35har1old said:

thevoid69 said:

Hi, I've seen Snoop Easy Savings are giving 4.35% which would be good as my Chase boosted rate will end next month. 

Is Snoop just as good/safe? There doesn't seem to be any restrictionssted on withdrawing. 

Thanks

Can you not close the Chase boosted and open another boosted account 

That's risky: a few days ago in another thread someone tested this and after closing their boosted saver there wasn't an offer to open another one with a boosted rate.

thevoid69

35har1old said:

thevoid69 said:

Hi, I've seen Snoop Easy Savings are giving 4.35% which would be good as my Chase boosted rate will end next month. 

Is Snoop just as good/safe? There doesn't seem to be any restrictionssted on withdrawing. 

Thanks

Can you not close the Chase boosted and open another boosted account 

No as I believe you have to have been emailed the offer for it to appear on your account.