james100
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Post by james100 on Mar 11, 2024 18:20:28 GMT
Has anyone got a Monument savings account? They have an easy access at 5.11% var but I can't recall seeing any user experiences. Views welcome!
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aju
Member of DD Central
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Post by aju on Mar 11, 2024 18:33:45 GMT
I did have a quick gander but we would only be looking at the next tranch of ISA's (We have to wait until April 6th at the earliest for both of us). Virgin is still offering Cash Isa issue 11 at 5.25%. The rate is fixed until 31st March 2025. You can fund it up until 30 days after they stop selling this account (i.e. tax year 2024/25). Unlimited withdrawals. No notice needed. but they charge 60 days' interest on the amount taken out during the fixed term (the same charge applies to closure). You have to have a current account with Virgin to be eligible. uk.virginmoney.com/savings/products/1_year_fixed_rate_cash_isa_exclusive_issue_11/Now that's interesting as my VM Excl Fixed ISA5 finishes on 29th Mar. Currently it's at 4.25% so 5.25% is an improvement and as its fixed rate a/c for effectively a similar period i'd be happy to move into this if it's still available when mine ends. I wonder if i'll get a prompt email at the end of this week (14 days before the end) as Mrs aju did with her Jan fixed ISA 4 switching to ISA10. we don't really need that money and as it's higher rate than PB's. I could also top it up in the next period if its still active when Apr 6th arrives. Thanks for this steer df very helpful.
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benaj
Member of DD Central
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Post by benaj on Mar 11, 2024 18:42:53 GMT
Has anyone got a Monument savings account? They have an easy access at 5.11% var but I can't recall seeing any user experiences. Views welcome! I have Monument Easy, 35 days and 60 days. Application is very quick and account is usually opened in a instant. App only, min 25k deposit. Withdrawal speed is similar to Investec, linked to nominated bank account only.
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Post by df on Mar 12, 2024 0:35:28 GMT
Virgin is still offering Cash Isa issue 11 at 5.25%. The rate is fixed until 31st March 2025. You can fund it up until 30 days after they stop selling this account (i.e. tax year 2024/25). Unlimited withdrawals. No notice needed. but they charge 60 days' interest on the amount taken out during the fixed term (the same charge applies to closure). You have to have a current account with Virgin to be eligible. uk.virginmoney.com/savings/products/1_year_fixed_rate_cash_isa_exclusive_issue_11/Now that's interesting as my VM Excl Fixed ISA5 finishes on 29th Mar. Currently it's at 4.25% so 5.25% is an improvement and as its fixed rate a/c for effectively a similar period i'd be happy to move into this if it's still available when mine ends. I wonder if i'll get a prompt email at the end of this week (14 days before the end) as Mrs aju did with her Jan fixed ISA 4 switching to ISA10. we don't really need that money and as it's higher rate than PB's. I could also top it up in the next period if its still active when Apr 6th arrives.Thanks for this steer df very helpful. You are very welcome. I had issue4, opened issue10 30 days before issue4's maturity and during the application instructed to transfer funds from 4 to 10. I have received the e-mail 14 days before the end, but didn't take any action, didn't want to confuse their system with 2 instructions. Day after maturity my iss4 was closed and funds appeared in iss10. The reason I didn't want to wait for the e-mail was a thought that by that time the new issue might be taken off the shelf - it wasn't but it gave me a peace of mind. I've opened issue11 this morning ready for depositing £20k on 6th Apr and it will be good home for my Coventry ISA funds maturing at the end of May. When my iss10 matures I will probably transfer it to iss11 to benefit from 5.25% for an extra two months because I doubt banks will be offering ISAs at this rate in 2025. Even today 5.25% fixed is the best cash ISA you can get. If you open iss11 now it will definitely be active on 6th April, if you wait until then it might or might not be available. Opening this account doesn't put you under obligation, don't have to fund it and the process takes only about 3 minutes for current account holders because all your details are already there, you just need to confirm them.
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benaj
Member of DD Central
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Post by benaj on Mar 12, 2024 7:55:07 GMT
If you need a test bank account to try out the Cynergy transfers let me know...
Completed the ££££££ tests for Investec, Cynergy and Santander this morning. Investec passes with flying colours. One hit with full whack, the maximum deposit amount transferred within 2 minutes. Cynergy also passes. Money arrives a few minutes for each transfer. 3 transfers made. Santander also passes. Hit and miss. Managed to transfer a 9 series of maximum single transfer with 3 accounts. The 4th account wouldn’t transfer anything.
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Post by oppsididitagain on Mar 14, 2024 10:03:31 GMT
Has anyone got a Monument savings account? They have an easy access at 5.11% var but I can't recall seeing any user experiences. Views welcome! yes, they are good easy to open on the app. and they have a human to speak too if you have a problem much better than Chip. who are completely robotic and dont speak to you on the phone Moved my money to monument after Chip cancelled me for no reason
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james100
Member of DD Central
Posts: 994
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Post by james100 on Mar 14, 2024 14:26:01 GMT
Has anyone got a Monument savings account? They have an easy access at 5.11% var but I can't recall seeing any user experiences. Views welcome! yes, they are good easy to open on the app. and they have a human to speak too if you have a problem much better than Chip. who are completely robotic and dont speak to you on the phone Moved my money to monument after Chip cancelled me for no reason Thank you, and also benaj . I was slightly put off by being app-only so your feedback is really helpful. Back up humans are always good! Just opened a Secure Trust on 5.1 but still need another so it's back on top of the list.
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Post by overthehill on Mar 14, 2024 14:47:37 GMT
Best rates 14mar2024.
20mar2024. feb2023->feb2024. CPIH=3.8% (0.4% down), CPI=3.4% (0.6% down). Next release 17apr2024
21mar2024. BoE base rate=5.25% (no change). Next meeting 09may2024
Min. Deposit <=10k. Max Deposit >=85k. Apply Online / App only. ISA transfer IN allowed.
AER = Annual Effective Rate.
Type | AER %
| Sharia AER %
| via Raisin AER % *
| Sharia via Raisin AER % *
| via HL AER % *
| easy access (unlimited)
| cynergy, secure trust 5.1%
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| easy access (max 2 withdraws pa)
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| notice (<=60 days)
| west brom BS 5.25
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| | QIB UK 5.35
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| notice (<=95 days)
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| QIB UK 5.4
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| 6 month
| hampshire trust 5.18
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| | 9 month
| hampshire trust 5.12
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| emirates NBD 5.15 | 1 year
| smartsave 5.28
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| 2 year
| close bros 5.05
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| 3 year
| hampshire trust, close bros 4.65
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| 5 year
| close bros 4.55
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| easy access ISA (flexible + unlimited withdraws)
| chip 5.1 #, zopa 5.08
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| easy access ISA (not flexible + 3 withdraws pa)
| moneybox 5.11
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| 1 year ISA
| oaknorth 5.06, virgin 5.25 ^
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| 2 year ISA
| oaknorth, close bros, UBL UK 4.7
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| 3 year ISA
| aldermore 4.5
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| 5 year ISA
| UBL UK 4.16
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* possible cashback
^ existing customer only.
+ min £500 withdrawals.
# ISA transfer IN not allowed. ~ min 25k deposit.
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cb25
Posts: 3,524
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Post by cb25 on Mar 14, 2024 16:46:00 GMT
Note on Monument's site "Following great TV publicity, we've paused new Easy Access Account applications due to high demand while we process existing requests.".
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alender
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Post by alender on Mar 14, 2024 19:52:17 GMT
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aju
Member of DD Central
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Post by aju on Mar 15, 2024 12:29:53 GMT
Now that's interesting as my VM Excl Fixed ISA5 finishes on 29th Mar. Currently it's at 4.25% so 5.25% is an improvement and as its fixed rate a/c for effectively a similar period i'd be happy to move into this if it's still available when mine ends. I wonder if i'll get a prompt email at the end of this week (14 days before the end) as Mrs aju did with her Jan fixed ISA 4 switching to ISA10. we don't really need that money and as it's higher rate than PB's. I could also top it up in the next period if its still active when Apr 6th arrives.Thanks for this steer df very helpful. You are very welcome. I had issue4, opened issue10 30 days before issue4's maturity and during the application instructed to transfer funds from 4 to 10. I have received the e-mail 14 days before the end, but didn't take any action, didn't want to confuse their system with 2 instructions. Day after maturity my iss4 was closed and funds appeared in iss10. The reason I didn't want to wait for the e-mail was a thought that by that time the new issue might be taken off the shelf - it wasn't but it gave me a peace of mind. I've opened issue11 this morning ready for depositing £20k on 6th Apr and it will be good home for my Coventry ISA funds maturing at the end of May. When my iss10 matures I will probably transfer it to iss11 to benefit from 5.25% for an extra two months because I doubt banks will be offering ISAs at this rate in 2025. Even today 5.25% fixed is the best cash ISA you can get. If you open iss11 now it will definitely be active on 6th April, if you wait until then it might or might not be available. Opening this account doesn't put you under obligation, don't have to fund it and the process takes only about 3 minutes for current account holders because all your details are already there, you just need to confirm them. So i waited patiently for the notification email, it came yesterday, 14/3, so i sorted it yesterday and got a notification today, 15/2, that it will be applied 5 Bus days after maturity date of 29/3. So that's possibly 5/4 but i've a feeling it will be 8/4 due to a bank hol in there somewhere!. All that said I assume that i will have at least 30 days to top it up from there. Just checked the KPI details and it says ... "You can pay money into your ISA as soon as it’s opened, right up until 30 days after we stop selling this account. After that you can’t pay in any more money. You can pay as much as you like into your account – up to the annual ISA allowance. Check your Terms for more details." I'm guessing it may not be in their interest to shut it down straight away unless they become too oversubscribed - either way i'll check what our position is with the PB's as they are diving as well so we may move funds from my side as i have less than Mrs aju there. Again thanks for your kind assistance df.
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mah
Member of DD Central
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Post by mah on Mar 15, 2024 18:47:31 GMT
Given the fact that there is a Interest Rate drop in the Horizon, it's best to Fix (for say 1 year) now before the Rates drop. No point in going for Variable Rates, as they'll definitely come down, sooner or later. The best 1 year Fix that I can find are :
Smart Save @ 5.28% - mixed reviews (my gut feeling is to avoid) ?
MBNA @ 5.27% - but the reviews say it's a nightmare - so best to stay clear ?
Stream Bank @ 5.25% - Good Reviews, but very few reviews HT 1 Year @5.17%
Also, Stream Bank has a 90 Day Notice Account @ 5.3%.
Any suggestions / opinions ?
I am inclined to go for Stream Bank 1 Year Fixed @ 5.25%.
Anyone has any exoerience of Stream Bank ?
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Post by df on Mar 16, 2024 17:31:00 GMT
You are very welcome. I had issue4, opened issue10 30 days before issue4's maturity and during the application instructed to transfer funds from 4 to 10. I have received the e-mail 14 days before the end, but didn't take any action, didn't want to confuse their system with 2 instructions. Day after maturity my iss4 was closed and funds appeared in iss10. The reason I didn't want to wait for the e-mail was a thought that by that time the new issue might be taken off the shelf - it wasn't but it gave me a peace of mind. I've opened issue11 this morning ready for depositing £20k on 6th Apr and it will be good home for my Coventry ISA funds maturing at the end of May. When my iss10 matures I will probably transfer it to iss11 to benefit from 5.25% for an extra two months because I doubt banks will be offering ISAs at this rate in 2025. Even today 5.25% fixed is the best cash ISA you can get. If you open iss11 now it will definitely be active on 6th April, if you wait until then it might or might not be available. Opening this account doesn't put you under obligation, don't have to fund it and the process takes only about 3 minutes for current account holders because all your details are already there, you just need to confirm them. So i waited patiently for the notification email, it came yesterday, 14/3, so i sorted it yesterday and got a notification today, 15/2, that it will be applied 5 Bus days after maturity date of 29/3. So that's possibly 5/4 but i've a feeling it will be 8/4 due to a bank hol in there somewhere!. All that said I assume that i will have at least 30 days to top it up from there. Just checked the KPI details and it says ... "You can pay money into your ISA as soon as it’s opened, right up until 30 days after we stop selling this account. After that you can’t pay in any more money. You can pay as much as you like into your account – up to the annual ISA allowance. Check your Terms for more details." I'm guessing it may not be in their interest to shut it down straight away unless they become too oversubscribed - either way i'll check what our position is with the PB's as they are diving as well so we may move funds from my side as i have less than Mrs aju there. Again thanks for your kind assistance df . Did it say 5 business days or within 5 business days? Quite often banks take precautions when estimate the completion date. My transfer from iss4 to iss10 was completed on the maturity day. Yes, "30 days after we stop selling this account" is the feature of all issues of this account, so there is no rush funding it, just have to make sure that you have it opened before they close the offer for new applications. My guess is that they won't discontinue iss11 until 6th April, but it's no more that a guess. I'm trying to get iss11 opened for my Mrs, but it turns to be a difficult process. One of my Virgin accounts is joint, but she doesn't have a password for online access and there is no other way to apply. I couldn't find any option online to get a password for her. Next move was to open her own current account, we did but had no correspondence regarding this application for a week now (the initial message was "we'll let you know within 2 days"). Virgin Money can be very difficult to deal with.
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Post by df on Mar 16, 2024 17:50:09 GMT
Given the fact that there is a Interest Rate drop in the Horizon, it's best to Fix (for say 1 year) now before the Rates drop. No point in going for Variable Rates, as they'll definitely come down, sooner or later. The best 1 year Fix that I can find are :
Smart Save @ 5.28% - mixed reviews (my gut feeling is to avoid) ?
MBNA @ 5.27% - but the reviews say it's a nightmare - so best to stay clear ?
Stream Bank @ 5.25% - Good Reviews, but very few reviews HT 1 Year @5.17%
Also, Stream Bank has a 90 Day Notice Account @ 5.3%.
Any suggestions / opinions ?
I am inclined to go for Stream Bank 1 Year Fixed @ 5.25%.
Anyone has any exoerience of Stream Bank ?
I have no experience with Stream Bank, but the account is FSCS protected so you shouldn't be expecting any losses if you stay within £85k limit. 90D variable rate will probably decrease, so if you don't need access for a year fixed is probably a better option. I personally don't go by reviews, but the interest rate and T&Cs.
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aju
Member of DD Central
Posts: 3,486
Likes: 920
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Post by aju on Mar 16, 2024 18:43:47 GMT
So i waited patiently for the notification email, it came yesterday, 14/3, so i sorted it yesterday and got a notification today, 15/2, that it will be applied 5 Bus days after maturity date of 29/3. So that's possibly 5/4 but i've a feeling it will be 8/4 due to a bank hol in there somewhere!. All that said I assume that i will have at least 30 days to top it up from there. Just checked the KPI details and it says ... "You can pay money into your ISA as soon as it’s opened, right up until 30 days after we stop selling this account. After that you can’t pay in any more money. You can pay as much as you like into your account – up to the annual ISA allowance. Check your Terms for more details." I'm guessing it may not be in their interest to shut it down straight away unless they become too oversubscribed - either way i'll check what our position is with the PB's as they are diving as well so we may move funds from my side as i have less than Mrs aju there. Again thanks for your kind assistance df . Did it say 5 business days or within 5 business days? Quite often banks take precautions when estimate the completion date. My transfer from iss4 to iss10 was completed on the maturity day. Yes, "30 days after we stop selling this account" is the feature of all issues of this account, so there is no rush funding it, just have to make sure that you have it opened before they close the offer for new applications. My guess is that they won't discontinue iss11 until 6th April, but it's no more that a guess. I'm trying to get iss11 opened for my Mrs, but it turns to be a difficult process. One of my Virgin accounts is joint, but she doesn't have a password for online access and there is no other way to apply. I couldn't find any option online to get a password for her. Next move was to open her own current account, we did but had no correspondence regarding this application for a week now (the initial message was "we'll let you know within 2 days"). Virgin Money can be very difficult to deal with. I can't remember but to be honest it probably meant within 5 bus days if my experience is anything to go by. The 30 days bit is almost certain 30 calendar days as its close to month. I can't check it at mo but i'll have another look.
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