Best savings account?

Gangster said:
Is it really that coverage though? Their site isn't clear or maybe I am reading it wrong. Their Cash ISA offers the 5.2% (that's limited to 20k per year, right?).... but FSCS coverage implies £85,000 coverage. Or is it referring to over a number of years, money in the cash isa can get 5.2% and that is covered up to £85,000?
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Cash ISA offers 5.2%, is limited to 20K of new funds a year. But you can ISA transfer (this is NOT withdrawing it from one ISA and depositing it in the new ISA) all your previous years ISAs. So you could have over 100K in a cash ISA if you maxed out your allowance for the last few years.

FSCS covers you up to 85K per bank. T212 splits your money between JP Morgan, Barclays and Natwest.
 
a1ex2001 said:
Indeed, they will tumble much quicker than they ever went up! Took the banks yonks to respond when rates first started going up.
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Other than the obvious "greedy ******* banks", is there any actual economic reason for this?

I share the same sentiment of course but I'm not a banker nor an economist so, being somewhat charitable, I'd like/hope to think there's a reason behind it.

Or is it just simply that, banks skimming off the top as always?
 
wingman said:
Other than the obvious "greedy ******* banks", is there any actual economic reason for this?

I share the same sentiment of course but I'm not a banker nor an economist so, being somewhat charitable, I'd like/hope to think there's a reason behind it.

Or is it just simply that, banks skimming off the top as always?
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You make 5% you then pass on 5% (lag a few days)
You make 4% you will be damn quick to stop giving 5% (lag a few minutes)

Losses always harder to justify than gains.
 
wingman said:
Other than the obvious "greedy ******* banks", is there any actual economic reason for this?

I share the same sentiment of course but I'm not a banker nor an economist so, being somewhat charitable, I'd like/hope to think there's a reason behind it.

Or is it just simply that, banks skimming off the top as always?
Click to expand...
Try the newer banks they tend to be a lot quicker to raise rates, its the mainstream ones that drag.
 
Anybody heard of below, they offer 4.70% AER (variable) with unlimited withdraws, interest is calculated daily and paid monthly. We are moving and will have equity money that we will use to refurb, money will be taken out at random time as needed.

Easy Access Savings | Monument Bank

Our most flexible savings account with unlimited deposits and withdrawals. No account fees. FSCS protected.
www.monument.co www.monument.co
 
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