Best savings account?
- Thread starter Merlin5
- Start date
Soldato
This slightly beats my ZOPA 5.08% one, but not massively.
Daily interest looks fun at least but typically work out yearly based on AER anyway, so not like it should matter there either.
Nothing stopping me doing both though except for keeping an eye on ISA allowance globally to stay under the £20K/year.
Daily interest looks fun at least but typically work out yearly based on AER anyway, so not like it should matter there either.
Nothing stopping me doing both though except for keeping an eye on ISA allowance globally to stay under the £20K/year.
Last edited:
Soldato
Not fixed though these ISA values.
I opened a 6 month fixed saver with Atom at 5.25% but it's outside of an ISA, so when it comes back I'll probably do something similar again or I'll move it over to something like this.
Soldato
Am not sure but unless they're lying, the money in the isa would be FCSC protected.
I did note the same APY on uninvested funds in the stock ISA but then the small print basically says that money is in QMMF's and is not protected.
I did note the same APY on uninvested funds in the stock ISA but then the small print basically says that money is in QMMF's and is not protected.
Soldato
Zero issues at all here, and I've done it twice without issue. Was it going to account that you haven't transferred into before?
Yup, same account several deposits have been made into. Using the same phone, same home IP etc.
They were notorious for this when I banked with them and it’s probably the main reason I moved elsewhere.
Be glad when it’s empty and I can have nothing to do with them again.
Soldato
Must be some random reason for it, just dumped the contents from Santander into the Post Office without issue.
It’s probably because we changed the payment limit before the transfer, nothing we can do but wait until they’re open. If it’s anything like last time they’ll demand we go into a branch with photo ID etc.
Soldato
I did the same, upped the withdrawal limit and withdrew everything. Took seconds.
Soldato
I've tempted to move mine, just that the bulk of my cash ISA is in a 2 year fix and what is in a easy access cash ISA is such a small amount that's unlikley going to get added to as my cash is going into the stock market at the moment.
Don
Santander’s app has been a bag of **** the last few weeks.
I phoned them up to transfer my whole savings amount just over a week ago with no issues.
I had it years ago when I did a BACS transfer to buy a car from a dealer. They lied to me on the phone and said it would be moved after 2 hours. After several more calls it transpired that everything had been blocked and I had to go into a branch with ID. They were relatively useless about it all and never really apologised. It wasn't the first issue I'd had, so I left them soon after. We only opened up the saving account due to the rates.
Soldato
5.2% with Trading 212 is higher than 4% with HSBC, it's otherwise similar (flexible so you can put in/withdraw without penalty). Higher wins here though surely?
Interest in normal savings accounts can also be taxable depending on your tax rate and how much you have in there, for basic rate taxpayers it's £1000 per tax year you get tax free, for higher rate it's only £500.
Better to flip the question around and ask yourself why you'd not want to use it.
Tax free interest (if applicable)
ISA currently paying about 5 percent but will likely fall a bit over the next year.
You can only put 20k into an ISA in any tax year, but you can add an additional 20k per year.
So a lot depends on how much savings you have.. But 4 percent is quite low at the moment even for a normal savings account.
Get yourself onto the MSE website and have a read about different types of accounts and what's best for your circumstance.
Last edited: