Savings interest rate thread

[Chainedtomato]

madbadger said:

I applied this morning too. Just come through and have move out of 1.5% with Chase.

Quite happy to move back if the rate changes. Was very straightforward.

Kept a bit for spending and the 5% roundup pot obviously.

Just had my acceptance through and moving away from Marcus aswell

Keeping Marcus open for now, in a few months time the rate could jump and it ends up being really competitive again

[V1nce Fox]

What is this "Marcus"?

[XDA]

V1nce Fox said:

What is this "Marcus"?

Goldman Sachs.

They launched in the UK a few years ago and have consistently been paying the best rates on easy access saving accounts.

https://www.marcus.co.uk/uk/en

[757]

XDA said:

Goldman Sachs.

They launched in the UK a few years ago and have consistently been paying the best rates on easy access saving accounts.

https://www.marcus.co.uk/uk/en

Not at the moment they aint

[V1nce Fox]

XDA said:

V1nce Fox said:

What is this "Marcus"?

Goldman Sachs.

They launched in the UK a few years ago and have consistently been paying the best rates on easy access saving accounts.

https://www.marcus.co.uk/uk/en

Cheers, didn’t know that existed either.

[200Plus Club]

Not a santander customer, application approved within 5 mins but the email received says need to fill in a change of details form plus send copies of two forms of id
Not sure if worth it over the chase/Marcus account

[XDA]

757 said:

XDA said:

Goldman Sachs.

They launched in the UK a few years ago and have consistently been paying the best rates on easy access saving accounts.

https://www.marcus.co.uk/uk/en

Not at the moment they aint

Yes I know. I moved most of my money out of mine a few months ago.

I’m in two minds about opening this Santander eSaver. It easily beats my 1.8% account held elsewhere but will someone else come out in the next few weeks with something better or will my existing providers match it?

I see a lot of people on the moneysavingexpert forum are getting transfers blocked for security reasons and having to wait hours to speak to someone.

[Bowser87]

XDA said:

Goldman Sachs.

They launched in the UK a few years ago and have consistently been paying the best rates on easy access saving accounts.

https://www.marcus.co.uk/uk/en

As someone that works in this area of banking and lives and breathes this stuff daily, it’s quite interesting to read what general opinion of these things are. And of there being a handful similar alternatives.

[V1nce Fox]

Bowser87 said:

XDA said:

Goldman Sachs.

They launched in the UK a few years ago and have consistently been paying the best rates on easy access saving accounts.

https://www.marcus.co.uk/uk/en

As someone that works in this area of banking and lives and breathes this stuff daily, it’s quite interesting to read what general opinion of these things are. And of there being a handful similar alternatives.

Kicking myself i didnt know about this one earlier.

[VR99]

Cheers to the OP....I am with Santander and Marcus but had no idea about this eSaver....applied last night, app accepted so just need to start moving across funds from Marcus!

[okgo]

Surely it gets bettered in a fortnight after the next base base rate meeting, then what? Piss about moving it all again?

[madbadger]

okgo said:

Surely it gets bettered in a fortnight after the next base base rate meeting, then what? Piss about moving it all again?

It’s nearly double Chase. Took minutes. Hardly pissing about. And I haven’t even got the requisite quarter of a million to bother moving.

[Mikebentley]

We’ve been accepted as already customers….moving it across when the wife stops watching Home and Away!

[Mr Whippy]

okgo said:

Surely it gets bettered in a fortnight after the next base base rate meeting, then what? Piss about moving it all again?

Yeah it’s only just starting isn’t it.
There will be months of this in my opinion.

£250k in Santander now though
FSCS unprotected funds at £170k, no thanks.

[VR99]

okgo said:

Surely it gets bettered in a fortnight after the next base base rate meeting, then what? Piss about moving it all again?

If it helps offset the hit I take on overpriced coffees every week then it's worth a bit of pain and faffing about!

[valiant]

okgo said:

Surely it gets bettered in a fortnight after the next base base rate meeting, then what? Piss about moving it all again?

To be fair, it’s a fair whack (relatively) over what the likes of Marcus and Chase are offering so makes it worthwhile. I can’t be bothered swapping for a 0.1% here or a 0.2% there but this is a fair old jump and I won’t be moving again unless there’s a similarly large jump elsewhere.

Was simple to open. Helps I have a Santander account and the new account was showing in my mobile banking app within 5 minutes of completing the application form even though my email said upto 3 days.

[snoopy25]

Not sure what you lot are doing applied at 3pm had acceptance email and account numbers 10 min later and I'm a new customer

Just waiting on the temp passwords to come through the post now

[Bowser87]

Mr Whippy said:

Yeah it’s only just starting isn’t it.
There will be months of this in my opinion.

£250k in Santander now though
FSCS unprotected funds at £170k, no thanks.

The amusing thing is there’s already been almost a year of it. Wait for NS&I to come along and really move the market shortly.

Just amusing the average punter here can refer to Chase which hasn’t been the best rate around for months, Marcus and now Santander. There’s a huge abundance of other offerings that have bettered both of the latter across the last year, many of whom have onboarding journeys and servicing just about as good that just don’t seem to get considered.

Edited by Bowser87 on Wednesday 12th October 20:53

[OMITN]

snoopy25 said:

Not sure what you lot are doing applied at 3pm had acceptance email and account numbers 10 min later and I'm a new customer

Just waiting on the temp passwords to come through the post now

I’m still waiting…..

[Mr Squarekins]

Mr Whippy said:

okgo said:

Surely it gets bettered in a fortnight after the next base base rate meeting, then what? Piss about moving it all again?

Yeah it’s only just starting isn’t it.
There will be months of this in my opinion.

£250k in Santander now though
FSCS unprotected funds at £170k, no thanks.

Genuine question related to this. When folks have large sums such as £500k plus, do they really split into £85k chunks across multiple banking groups or just spread it a little, such as £150k here and there?

Noone would have, say, 10 accounts to hold £850k?