Savings interest rate thread

[vulture1]

Shnozz said:

paulw123 said:

Be nice if Chase pulled their finger out and went to at least 3% following todays rise. Won’t hold my breath though.,

And boom.

Yeah they were on the ball this time. I guess they learned folk can move money fast

[pincher]

Better than a smack in the face with a wet kipper, as my nan used to say.

Agree with the previous comment on the Round Up account though.

[a311]

Shnozz said:

paulw123 said:

Be nice if Chase pulled their finger out and went to at least 3% following todays rise. Won’t hold my breath though.,

And boom.

I'll maybe empty my santander back to Chase. Can't see them moving theirs.

[7 5 7]

a311 said:

I'll maybe empty my santander back to Chase. Can't see them moving theirs.

Yup, just done this myself - Chase is still a great app to use, very good UI, now it's 3% too even better.

[darreni]

7 5 7 said:

a311 said:

I'll maybe empty my santander back to Chase. Can't see them moving theirs.

Yup, just done this myself - Chase is still a great app to use, very good UI, now it's 3% too even better.

I’ll do the same. What is the max I can transfer per day from the Santander account
?

[Tony33]

Tandem offering 3.05% instant access with no limits on withdrawals it seems.

I don't know anything about them - it just popped up on Savings Champion.

https://www.tandem.co.uk/products/savings/iasa

[Catz]

darreni said:

I’ll do the same. What is the max I can transfer per day from the Santander account
?

£100k but in £25k withdrawals apparently, although I’ve not tried it myself.
I called them about this but the person on the end of the phone couldn’t give me an answer but this is what I read online. https://www.santander.co.uk/personal/support/ways-...

[darreni]

Catz said:

£100k but in £25k withdrawals apparently, although I’ve not tried it myself.
I called them about this but the person on the end of the phone couldn’t give me an answer but this is what I read online. https://www.santander.co.uk/personal/support/ways-...

Super, many thanks.

[981Boxess]

OldSkoolRS said:

I have one of the 3.2% savings accounts with them (6 withdrawals a year) so not strictly instant access like Santander effectively I can withdraw every two months and move to my Santander account as needed.

You are making it sound like you can only withdraw every 2 months, which is incorrect.

You can take money out 6 times in a year any time you want, it could be 6 times in one week if that is what you want to do.

[981Boxess]

Catz said:

£100k but in £25k withdrawals apparently, although I’ve not tried it myself.

£100k in any 24 hour period and yes £25k at a time.

[OldSkoolRS]

981Boxess said:

OldSkoolRS said:

I have one of the 3.2% savings accounts with them (6 withdrawals a year) so not strictly instant access like Santander effectively I can withdraw every two months and move to my Santander account as needed.

You are making it sound like you can only withdraw every 2 months, which is incorrect.

You can take money out 6 times in a year any time you want, it could be 6 times in one week if that is what you want to do.

This is a bit like 'Ground hog day' as we've had this discussion before: I never said that you could only draw out every 2 months, just that it is limited to 6 times a year (or 7 if you close the account as you've said previously). I choose to draw every two months on average as I need to (or not) and move it to something with easier access. You could draw it 6 times in one week if you wanted.

The Coventry savings account isn't as 'easy access' as the Santander account in the OP, but has a slightly higher savings rate which is reflected in the restriction, so I think it's important to acknowledge that when responding in this thread. Same as that I could get an over 4% rate if I was prepared to lock into a 1 year bond and only withdraw once a year.

Edited by OldSkoolRS on Friday 3rd February 00:09

[981Boxess]

OldSkoolRS said:

981Boxess said:

OldSkoolRS said:

I have one of the 3.2% savings accounts with them (6 withdrawals a year) so not strictly instant access like Santander effectively I can withdraw every two months and move to my Santander account as needed.

You are making it sound like you can only withdraw every 2 months, which is incorrect.

You can take money out 6 times in a year any time you want, it could be 6 times in one week if that is what you want to do.

This is a bit like 'Ground hog day' as we've had this discussion before: I never said that you could only draw out every 2 months, just that it is limited to 6 times a year (or 7 if you close the account as you've said previously). I choose to draw every two months on average as I need to (or not) and move it to something with easier access. You could draw it 6 times in one week if you wanted.

I think what you have posted is misleading, so I have corrected it. I know how this account works because I have one, others reading this thread may not.

Nobody cares about when we intend withdrawing money from our accounts, just how the accounts work. I follow this thread to learn things I don't know, not to be misled, I expect others follow it for similar reasons.

More to the point I am surprised Santander have not woken up yet, 2.75% is now well down the list.

[22]

981Boxess said:

think what you have posted is misleading, so I have corrected it. I know how this account works because I have one, others reading this thread may not.

Nobody cares about when we intend withdrawing money from our accounts, just how the accounts work. I follow this thread to learn things I don't know, not to be misled, I expect others follow it for similar reasons.

Christ on a bike. It's not instant access and he was clear about the account limitations. Go and make a cuppa.

[the tribester]

Tony33 said:

Tandem offering 3.05% instant access with no limits on withdrawals it seems.

I don't know anything about them - it just popped up on Savings Champion.

https://www.tandem.co.uk/products/savings/iasa

It's a 2.85% variable IA account with an optional variable additional Top Up 12 month bonus currently 0.2%.

I don't think I've seen an optional variable additional bonus on any other account, when they could just say it's a 3.05% account.

[paulw123]

7 5 7 said:

a311 said:

I'll maybe empty my santander back to Chase. Can't see them moving theirs.

Yup, just done this myself - Chase is still a great app to use, very good UI, now it's 3% too even better.

Interest rate on Chase doesn’t change till the 13th of the month

[981Boxess]

the tribester said:

It's a 2.85% variable IA account with an optional variable additional Top Up 12 month bonus currently 0.2%.

I don't think I've seen an optional variable additional bonus on any other account, when they could just say it's a 3.05% account.

Marcus and Cynergy have also gone down the bonus route, but I agree life would be a lot simpler if they didn't bother with it and just had a single rate.

[mark seeker]

981Boxess said:

OldSkoolRS said:

981Boxess said:

OldSkoolRS said:

I have one of the 3.2% savings accounts with them (6 withdrawals a year) so not strictly instant access like Santander effectively I can withdraw every two months and move to my Santander account as needed.

You are making it sound like you can only withdraw every 2 months, which is incorrect.

You can take money out 6 times in a year any time you want, it could be 6 times in one week if that is what you want to do.

This is a bit like 'Ground hog day' as we've had this discussion before: I never said that you could only draw out every 2 months, just that it is limited to 6 times a year (or 7 if you close the account as you've said previously). I choose to draw every two months on average as I need to (or not) and move it to something with easier access. You could draw it 6 times in one week if you wanted.

I think what you have posted is misleading, so I have corrected it. I know how this account works because I have one, others reading this thread may not.

Nobody cares about when we intend withdrawing money from our accounts, just how the accounts work. I follow this thread to learn things I don't know, not to be misled, I expect others follow it for similar reasons.

More to the point I am surprised Santander have not woken up yet, 2.75% is now well down the list.

Atom Bank now offering 2.92%, Santander definitely asleep at the wheel if they are looking for monies...

[Bowser87]

981Boxess said:

arcus and Cynergy have also gone down the bonus route, but I agree life would be a lot simpler if they didn't bother with it and just had a single rate.

Economics work for the bank though given the sluggish nature of most funds.

[brickwall]

mark seeker said:

Atom Bank now offering 2.92%, Santander definitely asleep at the wheel if they are looking for monies...

Given how quickly they shut the initial 2.75% issue, I suspect they probably are not desperate for retail funds right now.

[981Boxess]

Sainsburys Defined Access Saver - Issue 39 is 3.05%, if anyone has money sitting in an older issue.