Caporegime
Monzo at 3.4%..time to move it out of Chase.
Best savings account?
- Thread starter Merlin5
- Start date
Commissario
You can only have one instant access pot at that rate though on Monzo. I have multiple pots with Chase that are used for different things and really don't want to combine them.
Yup £85k, but if you've been locked into a savings account for a couple of years you may see yourself over the £85k mark. So in practice your interest may not be covered.
Underboss
they arent the best
Best current accounts
Martin Lewis reveals how to compare and switch to the best current accounts that can save you £100s a year.
www.moneysavingexpert.com
i have the barclays one
EDIT //
i think if you have a BIG amount, its probably good, but it might match a cash ISA ?
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Thats better than I remember for the first 5k. Plus a fiver a month. Much better than my current COOP setup!they arent the best
Best current accounts
Martin Lewis reveals how to compare and switch to the best current accounts that can save you £100s a year.
i have the barclays one
EDIT //
i think if you have a BIG amount, its probably good, but it might match a cash ISA ?
Caporegime
Extra bonus, if you happen to have a mortgage with Barclays, you get £3 back on top.they arent the best
Best current accounts
Martin Lewis reveals how to compare and switch to the best current accounts that can save you £100s a year.
i have the barclays one
EDIT //
i think if you have a BIG amount, its probably good, but it might match a cash ISA ?
So for £5k in it, you get just under £20 in interest, + £3.
It works out to about £275 a year. That is my phone bill paid for!
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Underboss
Caporegime
You got 2p more than me!
Underboss
yeah
you have to PAY £5 a month for the blue rewards, but 2 dierect debits a month , means they pay you the £5 back
but you need blu rewards to get the rainy day saver
Soldato
Unless you are in it for the Rainy Day Saver, Barclays Blue Rewards usually isn't really worth it IMO.
Barclays never do switching offers, so you stand to gain up to £200 switching elsewhere, and unless you have other Barclays products which may mean being stuck with an uncompetitive product, you don't get anything back as the fee cancels out the reward.
If the Barclays mortgage, house insurance, life insurance etc.. are all things you have, and are the cheapest for you, then sure it might be ok.
In terms of pure interest rates, the Rainy Day Saver hasn't increased with the BoE rates for the last 4 announcements IIRC. Over a year, you'd only lose £11 in interest to something like Atom's 1 year fixed saver (of course that's fixed though), which is due for an increase very soon.
Barclays never do switching offers, so you stand to gain up to £200 switching elsewhere, and unless you have other Barclays products which may mean being stuck with an uncompetitive product, you don't get anything back as the fee cancels out the reward.
If the Barclays mortgage, house insurance, life insurance etc.. are all things you have, and are the cheapest for you, then sure it might be ok.
In terms of pure interest rates, the Rainy Day Saver hasn't increased with the BoE rates for the last 4 announcements IIRC. Over a year, you'd only lose £11 in interest to something like Atom's 1 year fixed saver (of course that's fixed though), which is due for an increase very soon.
Might move to this account.if it's still available when my 7pc regular saver (300ppm) and 5.25 regular saver (400ppm) expires.
Pop those in to hit the 5k cap.
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Now the banks have changed their T&C's for the switching offers to 'you are only eligible if you've never had a switching bonus before*' I don't think I'll be getting anymore now, as it looks like I've had them all before!
I'll just have to keep an eye out for any obscure building society offers!
* It used to be not if you've had a bonus within the last X years
I'll just have to keep an eye out for any obscure building society offers!
* It used to be not if you've had a bonus within the last X years
Caporegime
It's what I do, and every month I skim off the interest into the Chase account.
Still poor!
Been earning 4.25% on my CO-OP instant saver for past month, expecting them to move up again in coming days/weeks closer to 4.50%.
That's not open to new account holders thoughStill poor!
Been earning 4.25% on my CO-OP instant saver for past month, expecting them to move up again in coming days/weeks closer to 4.50%.
Best they offer online is 2.09%
Caporegime
Still poor!
Been earning 4.25% on my CO-OP instant saver for past month, expecting them to move up again in coming days/weeks closer to 4.50%.
How does that work!?