Savings Accounts

dLockers said:
How dare you - I just wanted to deposit the funds your late uncle left you in an account in Nairobi
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I'm going to need a security deposit from you first. ;)

Going back on topic, I'm surprised that nobody has mentioned Virgin Money's M Plus Account, which offers 2.02% on balances up to £1,000 and is linked to the M Plus Saver which has an interest rate of 1.56% up to £25,000.
 
darael said:
I'm going to need a security deposit from you first. ;)

Going back on topic, I'm surprised that nobody has mentioned Virgin Money's M Plus Account, which offers 2.02% on balances up to £1,000 and is linked to the M Plus Saver which has an interest rate of 1.56% up to £25,000.
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Do you need to bank with them to get that? like have their current account as your main account?
 
darael said:
I'm going to need a security deposit from you first. ;)

Going back on topic, I'm surprised that nobody has mentioned Virgin Money's M Plus Account, which offers 2.02% on balances up to £1,000 and is linked to the M Plus Saver which has an interest rate of 1.56% up to £25,000.
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Because chase is 1.5 on all balance with no faffing I would think.
 
darael said:
I'm going to need a security deposit from you first. ;)

Going back on topic, I'm surprised that nobody has mentioned Virgin Money's M Plus Account, which offers 2.02% on balances up to £1,000 and is linked to the M Plus Saver which has an interest rate of 1.56% up to £25,000.
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Pretty good if you have below £25k then.
 
Raymond Lin said:
Do you need to bank with them to get that? like have their current account as your main account?
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I don't use mine as a main account, I literally have it only for the interest and transfer from the current to savings account once a month. I don't know if they still let you open more than one account, but they did used to. I've read of people with multiple current accounts, just to milk the 2.02% interest rate. :D

dLockers said:
Because chase is 1.5 on all balance with no faffing I would think.
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I can see why that's appealing and also one of the reasons I'm dipping my toes in the water with them. But, for as long as Virgin Money offer 2.02%, I'll keep my current savings with them.

200sols said:
Pretty good if you have below £25k then.
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I like to think so and their app is pretty decent too.
 
Raymond Lin said:
Do you need to bank with them to get that? like have their current account as your main account?
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No. I have the M Plus and keep it at £1,000 and transfer every interest payment into the savings account. :p You don’t need any direct debits or anything setup, they don’t make you use it as your main account.
 
Scam said:
No. I have the M Plus and keep it at £1,000 and transfer every interest payment into the savings account. :p You don’t need any direct debits or anything setup, they don’t make you use it as your main account.
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So is the M Plus account give you the 2% or the Savings Account?
 
Current account - 2% on up to £1000
Linked to Savings account - 1.56% on up to £25,000

I am using the above and the residual is in chase on the 1.5%er
 
200sols said:
I wonder how they supersize savings over 100k. And is it risky...
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I dont know, they have always offered it (i haven't used their site much since I had very large amounts in cash) but I suspect its mainly using the services of banks/institutions that don't deal with people whos deposits are <£100k

The offering has changed, it used to be more about protecting with the limits on FSCS, right now I guess the benefit is more interest, we know that high street has been given artificially low borrowings from the government, not everyone has so better rates are there but not for joe public depositing £300 ;)
 
Bumping this, I've been enjoying the Chase accounts 1.5% since following the advice in this thread however recently it's been looking like they have been falling behind the competition and myself and others on Reddit have been wondering what Chase are doing.

I've just received an email answering that very question stating that they are increasing the saver account from 1.5 to 2.1%

Nice
 
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