Best savings account?

Put some money into cash ISA's today with Paragon as they offer an ISA Wallet, quick and easy.

Still got some in Chip, as it doesn't look like they are going to increase their rate, I might have to move that like others have.
 
hurfdurf said:
Yes and I was probing this logic and asking your thoughts on why you would go that route despite something, and you followed up with more detail and backed your opinion up which was helpful to me. Are you ok?
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The average returns of the average investor in an index fund is 2-3% compared to the 8% of the index, due to timing.

Big hedge funds always short the market, that is why they are called hedge funds, news stories posted as clickbait give people impression something is special about right now or next month.
 
Finally got tandem to work through revolut (it doesn't like halfiax).

Not Impressed with how slow transfers are out of tandem. Chip is pretty instant. I keep pretty much all my money in chip until I need it, creates a barrier of spending for no good reason. Tandem is so slow.
 
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MatsyLR said:
Finally got tandem to work through revolut (it doesn't like halfiax).

Not Impressed with how slow transfers are out of tandem. Chip is pretty instant. I keep pretty much all my money in chip until I need it, creates a barrier of spending for no good reason. Tandem is so slow.
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How long did it take with Tandem?
 
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Yea Tandem is slower than Chip. In my case took me roughly 15/20mins to show up in Tandem account. Not ideal, but you just move on.

Linked 2 accounts, transferred monies from both and had no issues.
 
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Zatoichi.uK said:
People don't play the long game and try and time the market rather than using a DCA strategy I would imagine.
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I doubt that is true when it comes to index funds specifically. The vast majority of money going into index funds is through pensions to start with, every month through pay deductions. It couldn't be more of a DCA strategy by it's very nature.
 
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MichaelAwkward said:
I doubt that is true when it comes to index funds specifically. The vast majority of money going into index funds is through pensions to start with, every month through pay deductions. It couldn't be more of a DCA strategy by it's very nature.
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I would think platinum referencing the average investor it would exclude pensions and just be people dabling in the stock market before cashing out.
 
Zatoichi.uK said:
I would think platinum referencing the average investor it would exclude pensions and just be people dabling in the stock market before cashing out.
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Maybe. Even in that case though, I'd bet they're in the minority. People investing in index funds through a S&S ISA which is probably the most common way after pensions, will also be DCA'ing on a regular basis more often than not for a long time period (say 5 year or more at least).

The people getting a crap return due to timing the market compared to the indexes will be those dabbling in inidividual stocks through Trading 212 or whatever. But that's not what they said hence me taking issue with it.
 
MichaelAwkward said:
Maybe. Even in that case though, I'd bet they're in the minority. People investing in index funds through a S&S ISA which is probably the most common way after pensions, will also be DCA'ing on a regular basis more often than not for a long time period (say 5 year or more at least).

The people getting a crap return due to timing the market compared to the indexes will be those dabbling in inidividual stocks through Trading 212 or whatever. But that's not what they said hence me taking issue with it.
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The stat is from some asset manager i forget, the average return was 2%, vs 8% for the market, the majority of which are people holding index funds/etf's.

People do not DCA and do things by the book, just go read the stock market thread we have on here.

Anyway my main point in regards to savings is you should calculate how much you need in cash, (i personally dont need any cash), put that in premium bonds because the fun outweighs the slight reduction in interest.

If you disagree with the last part you should put it in the highest interest easy access account then. But nobody should have savings in 1 year fixed accounts for example..

And of course if you have more cash, then either you spend it on stuff, or in the stockmarket.
 
platinum87 said:
The stat is from some asset manager i forget, the average return was 2%, vs 8% for the market, the majority of which are people holding index funds/etf's.

People do not DCA and do things by the book, just go read the stock market thread we have on here.
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So rather than finding out which asset manager and what they were referring to, you just regurgitated some vague stat like it was a fact?

The stock market thread on here is in no way representative of the average investor either.

All of the studies which look at the data on average returns will be polluted by the US market which has more active trading (particularly since Covid) than the UK. The growth in low cost ETF trading platforms like Trading212 etc over here will have reduced average performance here too, but not to the same degree as in the US. You have to remember than up until a few years ago ETFs were very expensive to buy and sell here in the UK, with OIEC or Mutual Funds as they call them in the US being the preferred choice for index funds.

I don't think it would be a surprise to anyone that people picking and choosing stocks and timing the market experience a lower return than the indexes, but you didn't say that.
 
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Rather than move funds from a S&S ISA into a cash ISA to take advantage of the better interest rates I have come across two possible alternatives. I think one is mentioned earlier in this thread regarding investing in TN24 UK Gilts yielding around 5.1% on maturity. The other possible solution I have found out about is the Sterling Short-Term Money Market Fund, but is there anyone more knowledgable about these type of funds? From what I have read so far they can be based on these rates Interest Rates I believe, but not completely sure?
 
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Saw Chip's bonus to make up for the lower interest rate. Tldr is it's not worth it.

Seen that Tandem are no longer offering 5% to new customers
 
Similar question for me but have option to hold out longer than a year starting with 10k

1) Have S&S ISA H&L two years previously mixture of index fund and stocks
2) last year ISA direct with Vanguard have a single fund
Largest Holding
FTSE - Developed World ex-U.K. Equity Index Fund - Accumulation

Options

1) open another S&S ISA with some cashback offers
2) invest the 10k in another index fund in H&L or Vanguard
3) Any other options?
 
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Disco_P said:
Seen that Tandem are no longer offering 5% to new customers
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Yeah, I got around to signing up to Tandem today after learning about them from reading this thread earlier in the week. Getting 4.65%, still higher than Chip, which I've now binned.
 
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