Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • alanq
    • By alanq 18th May 17, 10:25 AM
    • 3,985Posts
    • 2,585Thanks
    alanq
    Shawbrook 1.05% AER Variable Easy Access A/c
    • #1
    • 18th May 17, 10:25 AM
    Shawbrook 1.05% AER Variable Easy Access A/c 18th May 17 at 10:25 AM
    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.
    Last edited by alanq; 18-05-2017 at 10:27 AM.
Page 1
    • badger09
    • By badger09 18th May 17, 11:11 AM
    • 5,944 Posts
    • 5,283 Thanks
    badger09
    • #2
    • 18th May 17, 11:11 AM
    • #2
    • 18th May 17, 11:11 AM
    I'm not interested 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.
    • alanq
    • By alanq 18th May 17, 12:15 PM
    • 3,985 Posts
    • 2,585 Thanks
    alanq
    • #3
    • 18th May 17, 12:15 PM
    • #3
    • 18th May 17, 12:15 PM
    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/
    Last edited by alanq; 18-05-2017 at 12:21 PM.
    • alanq
    • By alanq 18th May 17, 1:42 PM
    • 3,985 Posts
    • 2,585 Thanks
    alanq
    • #4
    • 18th May 17, 1:42 PM
    • #4
    • 18th May 17, 1:42 PM
    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.
    Last edited by alanq; 18-05-2017 at 6:32 PM. Reason: To add N.B.
    • buffman
    • By buffman 18th May 17, 9:06 PM
    • 367 Posts
    • 186 Thanks
    buffman
    • #5
    • 18th May 17, 9:06 PM
    • #5
    • 18th May 17, 9:06 PM
    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.
    Originally posted by alanq
    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.
    • alanq
    • By alanq 19th May 17, 1:04 AM
    • 3,985 Posts
    • 2,585 Thanks
    alanq
    • #6
    • 19th May 17, 1:04 AM
    • #6
    • 19th May 17, 1:04 AM
    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.
    • buffman
    • By buffman 19th May 17, 6:46 AM
    • 367 Posts
    • 186 Thanks
    buffman
    • #7
    • 19th May 17, 6:46 AM
    • #7
    • 19th May 17, 6:46 AM

    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.
    Originally posted by alanq
    And I thought that I was the only person who could be bothered to chase an extra 0.05%!
    • alanq
    • By alanq 19th May 17, 8:20 AM
    • 3,985 Posts
    • 2,585 Thanks
    alanq
    • #8
    • 19th May 17, 8:20 AM
    • #8
    • 19th May 17, 8:20 AM
    And I thought that I was the only person who could be bothered to chase an extra 0.05%!
    Originally posted by buffman
    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.
    • isasmurf
    • By isasmurf 19th May 17, 8:46 AM
    • 1,719 Posts
    • 739 Thanks
    isasmurf
    • #9
    • 19th May 17, 8:46 AM
    • #9
    • 19th May 17, 8:46 AM
    I wonder how long Issue 9 will remain earning a higher rate than the earlier issues.
    Originally posted by alanq
    Looking at their rates for withdrawn issues, they seem to be quite good at maintaining interest rates. Issues 1 to 3 and 6, for example, are still paying 1.1%. In fact, it's only issue 8 that pays less than 1%.
    • Chloe_G
    • By Chloe_G 21st May 17, 7:52 AM
    • 40 Posts
    • 8 Thanks
    Chloe_G
    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!
    • mt99
    • By mt99 17th Aug 17, 7:37 AM
    • 460 Posts
    • 227 Thanks
    mt99
    Their instant access rate is now 1.2%
    • alanq
    • By alanq 19th Mar 18, 6:00 PM
    • 3,985 Posts
    • 2,585 Thanks
    alanq
    Latest version of account (Issue 11), available from today, pays 1.25% variable.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

727Posts Today

6,077Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin