Best savings account?

Chip just raised the rate to 4% from yesterday and that's not the only savings account increase notification I've had this week.

And that's before the BoE meeting tomorrow!
 
Freakbro said:
Chip just raised the rate to 4% from yesterday and that's not the only savings account increase notification I've had this week.

And that's before the BoE meeting tomorrow!
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Yeah I saw the email claiming it was the "market leading rate" according to MoneySavingExpert, but it was wrong within a couple hours.
 
1 year fixed is up to 5.7% now (Ahli United Bank via Raisin), I wonder if the interest rate rise tomorrow is already priced in or if it's likely to go up even more in the next couple of weeks.
 
Freakbro said:
As long as they are FSCS protected it doesn't bother me
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It sounds comforting initially, but I'd imagine the act of a bank going breasts up that you have significant money in would be quite stressful, and I can't see the incompetent & corrupt UK government sending cheques out the very next day by Royal Mail Special Delivery.
 
Dirk Diggler said:
It sounds comforting initially, but I'd imagine the act of a bank going breasts up that you have significant money in would be quite stressful, and I can't see the incompetent & corrupt UK government sending cheques out the very next day by Royal Mail Special Delivery.
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Agreed
 
Dirk Diggler said:
It sounds comforting initially, but I'd imagine the act of a bank going breasts up that you have significant money in would be quite stressful, and I can't see the incompetent & corrupt UK government sending cheques out the very next day by Royal Mail Special Delivery.
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It is comforting, you don't even need to do anything it will be automatic within the stated timeframe. About 20 working days iirc. But if people are happy to be shafted by mainstream banks if it makes them feel better I guess they'll continue to lowball on rates. That said I reckon the government would step in before any bank failed anyway, but still it isn't something to worry about.
 
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Dirk Diggler said:
It sounds comforting initially, but I'd imagine the act of a bank going breasts up that you have significant money in would be quite stressful, and I can't see the incompetent & corrupt UK government sending cheques out the very next day by Royal Mail Special Delivery.
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When Icesave went bust I got the money directly into my current account within a week if I remember correctly.

But then we did have a Labour Government back in 2008. Tories don't care about us plebs.
 
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LeeUK said:
When Icesave went bust I got the money directly into my current account within a week if I remember correctly.

But then we did have a Labour Government back in 2008. Tories don't care about us plebs.
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No worries because the FSCS is an independent body. Rishi isn't doing the bank transfers personally.
 
LeeUK said:
When Icesave went bust I got the money directly into my current account within a week if I remember correctly.

But then we did have a Labour Government back in 2008. Tories don't care about us plebs.
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This is the main point, IMO. The current parcel of rogues won't be falling over themselves to authorise a cheque when there's nothing in it for them.
 
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