Savings interest rate thread
Discussion
leef44 said:
Has anyone had a Tesco Fixed Rate Saver which has matured?
I've updated the options online for funds to go to nominated account on maturity. Now I've received a letter which gives three options and says to call them.
I don't want to end up in a long hanging call to a call centre going through security questions and thought it might be quicker if someone can confirm that the funds will automatically get transferred to my nominated account or whether you actually have to call them to make it happen.
My wife’s just has but she has elected to reinvest. I've updated the options online for funds to go to nominated account on maturity. Now I've received a letter which gives three options and says to call them.
I don't want to end up in a long hanging call to a call centre going through security questions and thought it might be quicker if someone can confirm that the funds will automatically get transferred to my nominated account or whether you actually have to call them to make it happen.
Sounds like you received the standard letter so I think you may have to call although they may also send a reminder letter which may be more specific to what you requested.
leef44 said:
Has anyone had a Tesco Fixed Rate Saver which has matured?
I've updated the options online for funds to go to nominated account on maturity. Now I've received a letter which gives three options and says to call them.
I don't want to end up in a long hanging call to a call centre going through security questions and thought it might be quicker if someone can confirm that the funds will automatically get transferred to my nominated account or whether you actually have to call them to make it happen.
What are the three options in letter? I've updated the options online for funds to go to nominated account on maturity. Now I've received a letter which gives three options and says to call them.
I don't want to end up in a long hanging call to a call centre going through security questions and thought it might be quicker if someone can confirm that the funds will automatically get transferred to my nominated account or whether you actually have to call them to make it happen.
Teatowell said:
leef44 said:
Has anyone had a Tesco Fixed Rate Saver which has matured?
I've updated the options online for funds to go to nominated account on maturity. Now I've received a letter which gives three options and says to call them.
I don't want to end up in a long hanging call to a call centre going through security questions and thought it might be quicker if someone can confirm that the funds will automatically get transferred to my nominated account or whether you actually have to call them to make it happen.
What are the three options in letter? I've updated the options online for funds to go to nominated account on maturity. Now I've received a letter which gives three options and says to call them.
I don't want to end up in a long hanging call to a call centre going through security questions and thought it might be quicker if someone can confirm that the funds will automatically get transferred to my nominated account or whether you actually have to call them to make it happen.
2) revert to their easy access saver at 1.3%
3) money to go to your nominated account and these account closes.
I've chosen option 3 in their online access but then the next day a letter arrives (timing could be coincidence) saying you should contact them to make your choice. They give a phone number. It says if you have not contacted them then it defaults to option (2)
A search on google has one answer which says you can choose (3) online, which is what I have done. Just wondering whether I still need to call them. I guess I will do it tomorrow just to be on the safe side.
Zopa withdrew their 5.08% easy access rate on Monday...
Zopa said:
Don’t worry, the interest you're earning on Access ISA pots isn’t changing, but from 23rd May 2024 it’ll be made up of two separate rates — underlying and bonus — that add up to the same total interest rate you’re earning today.
How your Access ISA pot interest rate is currently structured
5.08% AER* (4.96% gross**) variable
How your Access ISA pot interest rate will be structured after 23rd May 2024
Underlying interest rate: 4.58% AER* (4.48% gross**) variable
Bonus rate: 0.5% AER*/gross** fixed, which will run until 6th April 2025
How your Access ISA pot interest rate is currently structured
5.08% AER* (4.96% gross**) variable
How your Access ISA pot interest rate will be structured after 23rd May 2024
Underlying interest rate: 4.58% AER* (4.48% gross**) variable
Bonus rate: 0.5% AER*/gross** fixed, which will run until 6th April 2025
I wonder which way that underlying interest rate is going to go
Edited by Hustle_ on Wednesday 8th May 23:11
alscar said:
leef44 said:
Has anyone had a Tesco Fixed Rate Saver which has matured?
I've updated the options online for funds to go to nominated account on maturity. Now I've received a letter which gives three options and says to call them.
I don't want to end up in a long hanging call to a call centre going through security questions and thought it might be quicker if someone can confirm that the funds will automatically get transferred to my nominated account or whether you actually have to call them to make it happen.
My wife’s just has but she has elected to reinvest. I've updated the options online for funds to go to nominated account on maturity. Now I've received a letter which gives three options and says to call them.
I don't want to end up in a long hanging call to a call centre going through security questions and thought it might be quicker if someone can confirm that the funds will automatically get transferred to my nominated account or whether you actually have to call them to make it happen.
Sounds like you received the standard letter so I think you may have to call although they may also send a reminder letter which may be more specific to what you requested.
Dr Amatisation said:
Does anyone with a Chase account have any idea why they are so slow getting the annual interest statements done? They are saying it’s going to be ‘a few weeks’. Can’t be that hard surely??
It's annoying, more so as with having many separate accounts it's a pain going through each separate statement to get it all worked out, all my other banks have done it but still nothing from chase. I have last years tax year interest summary but nothing yet for this year
Edited by paulw123 on Wednesday 8th May 23:53
Strudul said:
bmwmike said:
Ah my bad, looks like you're right.However, I think that T212 is going to have to be very clear about how the FSCS protection works, as it appears to be acting as an intermediary.
If your cash ISA is held within a client account at a third-party bank, what happens if that bank goes bust? Is the FSCS protection applied to T212 or the third-party bank? I'm most cases it wouldn't matter if it's the latter, but anybody who has other accounts with the failed bank could inadvertently find themselves exceeding the £85k limit.
leef44 said:
Thanks, I wait to see whether I get a second letter confirming that my option has been chosen.
Yup and hopefully you will - just make sure you don’t leave it until after the bond matures !I’ve just checked my wife’s confirmation letter which arrived a week or so post her phone call - 06th April - rate for 12 months reinvestment was 4.95%.
Funk said:
bmwmike said:
t212 opening a cash ISA, full FSCS, no QMMF's and 5.2% in June.
Literally just had the same notification from them about that. Saves me signing up for a Marcus account which I was thinking about doing later...Edited to add if I move 20k from a non isa account to this I won't be able to put anymore into my sas isa account though will I as I will have reached the limit.
Edited by asfault on Thursday 9th May 10:25
bmwmike said:
t212 opening a cash ISA, full FSCS, no QMMF's and 5.2% in June.
Hope they manage to do SIPPs eventually. It would be hugely disruptive to an antiquated industry which seems to be stuck with big players demanding huge fees. Pensions tend to be meaty sums, so these pension firms are raking it in and it needs to stop.This looks interesting, 5.6% 1 year fixed tracker account, open the account then immediately give notice to withdraw. Minimum £15K.
Might put the minimum in myself as It's just been sat in the Santander Easy Saver @ 5.08% which ends in a week or so.
.
https://www.thisismoney.co.uk/money/saving/article...
Might put the minimum in myself as It's just been sat in the Santander Easy Saver @ 5.08% which ends in a week or so.
.
https://www.thisismoney.co.uk/money/saving/article...
BishBosh said:
This looks interesting, 5.6% 1 year fixed tracker account, open the account then immediately give notice to withdraw. Minimum £15K.
Might put the minimum in myself as It's just been sat in the Santander Easy Saver @ 5.08% which ends in a week or so.
.
https://www.thisismoney.co.uk/money/saving/article...
Not fixed though.Might put the minimum in myself as It's just been sat in the Santander Easy Saver @ 5.08% which ends in a week or so.
.
https://www.thisismoney.co.uk/money/saving/article...
BishBosh said:
This looks interesting, 5.6% 1 year fixed tracker account, open the account then immediately give notice to withdraw. Minimum £15K.
Might put the minimum in myself as It's just been sat in the Santander Easy Saver @ 5.08% which ends in a week or so.
.
https://www.thisismoney.co.uk/money/saving/article...
They know the BOE rate is about to come down.Might put the minimum in myself as It's just been sat in the Santander Easy Saver @ 5.08% which ends in a week or so.
.
https://www.thisismoney.co.uk/money/saving/article...
BishBosh said:
This looks interesting, 5.6% 1 year fixed tracker account, open the account then immediately give notice to withdraw. Minimum £15K.
Might put the minimum in myself as It's just been sat in the Santander Easy Saver @ 5.08% which ends in a week or so.
.
https://www.thisismoney.co.uk/money/saving/article...
That looks like the absolute worst of both worlds, effectively locked in for a year with a rate that will follow BoE base down.Might put the minimum in myself as It's just been sat in the Santander Easy Saver @ 5.08% which ends in a week or so.
.
https://www.thisismoney.co.uk/money/saving/article...
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