Shawbrook 1.05% AER Variable Easy Access A/c
alanq
Posts: 4,216
Forumite
Shawbrook will launch Easy Access Issue 9 paying 1.05% AER Variable at 11:30 today. Minimum opening balance £1000. Above interest rate only applies while balance exceeds £1000.
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I'm not interested:p for myself, but thanks for the heads up.
I've helped my sister to use them in the past. She's 80, won't use internet for anything, and by now will have several £ in a non interest bearing current account. Not an earth shattering rate, but better than 0.0 -
It is unclear whether with monthly interest the 1.04% is Gross or AER. If I understand correctly it cannot be both, as claimed on the web site. I suspect 1.04% Gross and 1.05% AER.
https://www.shawbrook.co.uk/savings/personal-accounts/easy-access-accounts/easy-access-issue-9/0 -
Buried in the Ts&Cs is the mention that one can only have one Easy Access account. This covers ALL issues. To move funds from an earlier issue to Issue 9 for the higher interest rate one must phone or send a secure message requesting this.
I wonder how long Issue 9 will remain earning a higher rate than the earlier issues.
N.B. If you have long term plans for the account - each issue tends to be closed to additional deposits after a few months. Of the earlier issues only issue 8 is currently accepting new deposits.0 -
Buried in the Ts&Cs is the mention that one can only have one Easy Access account. This covers ALL issues. To move funds from an earlier issue to Issue 9 for the higher interest rate one must phone or send a secure message requesting this.
Indeed. I sent Shawbrook a secure mention at lunch time today. By 4pm my older issue Easy Access Account had been converted into the latest issue (9), keeping the same account number. Very straight forward and efficient.0 -
Made an enquiry call at 12.39. A couple of minutes wait as 3rd in queue. Sent private message at end of the call. At 13:54 I received a reply saying that my request had been actioned. I was very happy with that.
The account number was unchanged so no interest was added when making the move. I trust that interest will be added on the anniversary of the opening of the Issue 5 account and not that of the opening of the Issue 9 account otherwise I will be missing out on compounding.0 -
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And I thought that I was the only person who could be bothered to chase an extra 0.05%!
I had initially misunderstood and thought that Issue 5 rate had dropped from 1% to 0.75% (which was issue 8). Still I did the right thing because I wanted to make an additional deposit and that was no longer possible with Issue 5.0 -
I wonder how long Issue 9 will remain earning a higher rate than the earlier issues.0
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I'm quite happy with Shawbrook. Their communication when rates change and new products start is much clearer than any other institution that I deal with!0
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Their instant access rate is now 1.2%0
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