Monzo/Starling Banking/Revolut

Easy Access
Post Office 5.06%
Secure Trust Bank 5.05%
Cynergy Bank 5.01


Out of those Secure Trust is the only one that doesn't either drop after 12 months, limit withdrawals, or pay interest annually instead of monthly.
 
Out of those Secure Trust is the only one that doesn't either drop after 12 months, limit withdrawals, or pay interest annually instead of monthly.
And chip is only 4.86% so secure trust wins. Plenty of others out there above chip as well just not on that list but lets face it rates are going to change a lot in the next 12 months as well so the enticing 12 month bait period is of no consequence really.
 
Out of those Secure Trust is the only one that doesn't either drop after 12 months, limit withdrawals, or pay interest annually instead of monthly.
dont think 12 months matters when its easy access you can change anyway if you want , and rates are gonna be changing anyway , looking at Post office Online Saver account allows you to make unlimited withdrawals without notice or penalties and its monthly
 
dont think 12 months matters when its easy access you can change anyway if you want , and rates are gonna be changing anyway , looking at Post office Online Saver account allows you to make unlimited withdrawals without notice or penalties and its monthly

Yeah on rates, but it's it's maturity then you get sod all. So that is something to watch out for for some.
 
Well I have a revolut account now because I thought they offered a credit card now, only after signing up did I realise they don't offer one in the uk. Not obvious when I searched.

Do they expect you to use the account or can I just leave it empty indefinitely as a spare? Definitely not moving my main accounts from starling.
 
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Sod all? What? Interest is calculated daily. Its easy access not fixed.

Some of those listed were paid annually. So regardless of if interest is calculated daily, if you withdraw the money perhaps to move to another provider you've got a long wait for the interest. If it's an account that matures annually, then it's worth checking if you'll get anything if withdrawing early or if there are any penalties. As not all them are true easy access accounts. Paragon for example which was listed in the link only allows 2 withdrawals, so isn't a true instant or easy access.

Typically, for an easy access account you're going to want the interest calculated and paid as frequently as possibly for maximum flexibility.
 
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Some of those listed were paid annually. So regardless of if interest is calculated daily, if you withdraw the money perhaps to move to another provider you've got a long wait for the interest. If it's an account that matures annually, then it's worth checking if you'll get anything if withdrawing early or if there are any penalties. As not all them are true easy access accounts. Paragon for example which was listed in the link only allows 2 withdrawals, so isn't a true instant or easy access.

Typically, for an easy access account you're going to want the interest calculated and paid as frequently as possibly for maximum flexibility.
It doesn't mature at all, merely interest is paid annually. If you closed the account before the year was up you'd get the interest paid at that time. All in the T&Cs.

The real implications here are to do with tax and when you can access the interest.
 
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Monzo email:

Hello Diddums,

We’re changing our Terms & Conditions. We’ve put the most important bits in this email. And we’ve linked to the new terms and fee information below, as well as a side-by-side summary of the key changes.​
Pay in cash at the Post Office
From today, you can pay cash into your Monzo accounts at any Post Office branch. And you can still pay in cash at any PayPoint.

We’ll charge you £1 for each deposit. You can deposit between £5-300 in one go, up to a maximum of £1,000 every rolling 180 days. These limits are shared across the Post Office and PayPoint.​
Changes to unarranged overdrafts
From today, if we haven't agreed an arranged overdraft limit with you, we won't charge you any interest if your balance goes below £0.

We try to reject any payments or cash withdrawals that’ll take your balance below £0. The only exceptions are ‘offline’ payments, like those you make on a plane. We can’t reject those payments, so if they put you into an unarranged overdraft, we’ll tell you as soon as it happens.

If you do become overdrawn and don’t have an arranged overdraft, you should repay the money as soon as you can, as it could impact your credit score.​
Want to read the changes in full?
Tap the links below to see the new Terms & Conditions and Fee Information documents, along with summary documents showing what’s changed alongside what used to be there. You’ll find our current and all previous sets of Terms & Conditions on our website, too.​
 
Extra 1% AER on Chase savings accounts until November 2024. Feels a bit gimmicky, why now? why only until November? What are they trying to achieve?

Right now, our standard saver rate is 4.1% AER (4.02% gross) variable. But as part of our limited offer, you can open a Chase saver account and get a boosted interest rate of 5.1% AER (variable) on your money until 4 November1.

Still, not enough to temp me to switch some cash out of Trading 212s which pays 5.2% daily.
 
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Extra 1% AER on Chase savings accounts until November 2024. Feels a bit gimmicky, why now? why only until November? What are they trying to achieve?



Still, not enough to temp me to switch some cash out of Trading 212s which pays 5.2% daily.
Possibly because T212 are rolling out their card with the 5.2%. They might see T212 as competition given the 0.5% cashback offer too.
 
Already had Chase using the current account for the 1% cashback Had to force close the app and start it again to open 5.1% saver, will probably move funds over when santander drop its rate on 20th may
 
Extra 1% AER on Chase savings accounts until November 2024.
Is this for new savings accounts/customers only?
Already got one of their 4.1% savings accounts and haven't had any emails nor see anything in the app about this.

Still, not enough to temp me to switch some cash out of Trading 212s which pays 5.2% daily.
Is T212 FSCS protected on uninvested interest generating money? I always thought they used QMMF's for uninvested cash, so it becomes unprotected :confused:
 
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