mrdc
Member of DD Central
Posts: 73
Likes: 33
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Post by mrdc on Mar 31, 2022 12:56:58 GMT
Can't open one of these accounts (Chase)because my phone has incompatible hardware. Please tell me i'm not the only one on this forum !.
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Post by Badly Drawn Stickman on Mar 31, 2022 13:27:58 GMT
Can't open one of these accounts (Chase)because my phone has incompatible hardware. Please tell me i'm not the only one on this forum !. There does seem to be a strong desire by banks and other financial institutions to move the business to smart phones. Like it or not the future clearly involves having a relatively up to date version in your pocket (though they seem to be getting bigger again so maybe manbag/handbag is the new must have). Even banking on a laptop usually involves picking up the phone at some point so maybe embracing the inevitable is the way to go.
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macq
Member of DD Central
Posts: 1,923
Likes: 1,189
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Post by macq on Mar 31, 2022 13:34:50 GMT
I see Metro Bank has given up on savings accounts.
3 years Fixed Term Savings account
0.40% AER*
Looks even worse on Hargreaves Active saving for 3 years with at least a couple of offers at 2% and then others just behind that (and there even was a slightly higher private offer if logged in earlier in the week 2.15% ) and then Metro @ 0.25 - lucky its the last day to apply for the Metro offer saving people the stress of which One to pick!
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Post by overthehill on Mar 31, 2022 13:41:19 GMT
I see Metro Bank has given up on savings accounts.
3 years Fixed Term Savings account
0.40% AER*
Looks even worse on Hargreaves Active saving for 3 years with at least a couple of offers at 2% and then others just behind that (and there even was a slightly higher private offer if logged in earlier in the week 2.15% ) and then Metro @ 0.25 - lucky its the last day to apply for the Metro offer saving people the stress of which One to pick!
I like HL but some of their decisions reek of profit before customer now that they have a huge user base and funds under management.
Active savings gave baseless statements about expanding the product to ISAs and SIPPs - never happened. Cash in these products sits there earning no interest. They were obviously worried about the hit to profits.
I found out recently that although they do LISAs, they don't accept transfers, w.t.f. Another business decision.
EDIT: when did HL active savings start offering market rates ? I've been ignoring this product for years as the rates used to be terrible.
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Post by overthehill on Mar 31, 2022 14:09:06 GMT
Top rates - 3apr2022.
Feb2021->Feb2022. CPIH=5.5%, CPI=6.2%, next release 13apr2022.
17mar2022. BoE base rate=0.75%, next release 05may2022
AER = Annual Effective Rate. Min. deposit <=1000. Apply online.
Type | AER Standard %
| AER Standard % via Raisin *
| AER Sharia %
| AER Sharia % via Raisin *
| easy access
| chase 1.5%
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| 1 year
| tandem 1.8%
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| | 2 year
| jn 2.11%
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| 3 year
| secure trust 2.2%
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| 5 year
| secure trust 2.4% |
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| easy access ISA
| cynergy 0.9%
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| 1 year ISA
| paragon 1.37%
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| 2 year ISA
| ubl uk 1.71%
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| 3 year ISA
| ubl uk 1.76%
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| 5 year ISA
| buckinghamshire bs 1.9%
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* If new to Raisin - £30 bonus for >10k
Always make sure the banks are not linked, so as not to exceed your 85k FSCS protection
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macq
Member of DD Central
Posts: 1,923
Likes: 1,189
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Post by macq on Mar 31, 2022 14:17:25 GMT
Looks even worse on Hargreaves Active saving for 3 years with at least a couple of offers at 2% and then others just behind that (and there even was a slightly higher private offer if logged in earlier in the week 2.15% ) and then Metro @ 0.25 - lucky its the last day to apply for the Metro offer saving people the stress of which One to pick!
I like HL but some of their decisions reek of profit before customer now that they have a huge user base and managed funds portfolio.
Active savings gave baseless statements about expanding the product to ISAs and SIPPs - never happened. Cash in these products sits there earning no interest. They were obviously worried about the hit to profits.
I found out recently that although they do LISAs, they don't accept transfers, w.t.f. Another business decision.
EDIT: when did HL active savings start offering more than the market rate ? I've been ignoring this product for years as the rates used to be terrible.
Not sure if its what you mean but there is now a savings ISA but only One rate of 0.5% With regards the LISA - was a bit surprised so had a quick look at the home page under the our services tab and it mentions LISA and half way down the page it mentions transfers? With active savings the rates have got better but you need to be logged in to see all the rates.And sometimes they have what they call private offers for which again you need to be logged in. I.e yesterday i noticed they had a private offer of 2.05% for 2 years which was market leading at the time plus a good offer for 3 years but you cannot see them by just looking at the homepage only on the account page
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Post by df on Mar 31, 2022 20:52:19 GMT
Top rates - 31mar2022.
Feb2021->Feb2022. CPIH=5.5%, CPI=6.2%, next release 13apr2022.
17mar2022. BoE base rate=0.75%, next release 05may2022
AER = Annual Effective Rate. Min. deposit <=1000. Apply online.
Type | AER Standard %
| AER Standard % via Raisin *
| AER Sharia %
| AER Sharia % via Raisin *
| 1 year
| atom 1.75%
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| | 2 year
| atom 2.1%
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| 3 year
| secure trust 2.2%
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| 5 year
| secure trust 2.4% |
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| easy access
| zopa 1.0%
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| 1 year ISA
| castle trust 1.35%
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| 2 year ISA
| ubl uk 1.71%
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| 3 year ISA
| ubl uk 1.76%
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| 5 year ISA
| buckinghamshire bs 1.9%
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| easy access ISA
| shawbrook 0.85%
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* If new to Raisin - £30 bonus for >10k
Always make sure the banks are not linked, so as not to exceed your 85k FSCS protection
It's probably not a good time for considering fixed term accounts, especially longer term offers.
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Post by overthehill on Mar 31, 2022 21:01:15 GMT
Top rates - 31mar2022.
Feb2021->Feb2022. CPIH=5.5%, CPI=6.2%, next release 13apr2022.
17mar2022. BoE base rate=0.75%, next release 05may2022
AER = Annual Effective Rate. Min. deposit <=1000. Apply online.
Type | AER Standard %
| AER Standard % via Raisin *
| AER Sharia %
| AER Sharia % via Raisin *
| 1 year
| atom 1.75%
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| | 2 year
| atom 2.1%
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| 3 year
| secure trust 2.2%
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| 5 year
| secure trust 2.4% |
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| easy access
| zopa 1.0%
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| 1 year ISA
| castle trust 1.35%
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| 2 year ISA
| ubl uk 1.71%
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| 3 year ISA
| ubl uk 1.76%
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| 5 year ISA
| buckinghamshire bs 1.9%
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| easy access ISA
| shawbrook 0.85%
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* If new to Raisin - £30 bonus for >10k
Always make sure the banks are not linked, so as not to exceed your 85k FSCS protection
It's probably not a good time for considering fixed term accounts, especially longer term offers.
Everyone is expecting the rates to keep going higher but I wouldn't be gambling a lot of money on that. Inflation won't stay at that level for long, consumer spending will be drastically reduced by energy , fuel and mortgage costs. I think a lot of people will grab these rates after getting near zero for years and how long do you wait before switching from the lower easy access rates?
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zlb
Member of DD Central
Posts: 1,411
Likes: 331
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Post by zlb on Apr 1, 2022 21:13:13 GMT
instant access rates are increasing very frequently so some institutions appear to want the deposits - or that's how it appears, fighting for the money, (which they expect to sit there through apathy)
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Post by df on Apr 2, 2022 22:29:21 GMT
It's probably not a good time for considering fixed term accounts, especially longer term offers.
Everyone is expecting the rates to keep going higher but I wouldn't be gambling a lot of money on that. Inflation won't stay at that level for long, consumer spending will be drastically reduced by energy , fuel and mortgage costs. I think a lot of people will grab these rates after getting near zero for years and how long do you wait before switching from the lower easy access rates? We don't know how this particular race is going to progress, but I've noticed in the past that the competition can go further than expected. Chase set a new challenging standard for instant access and I won't be surprised if some other providers will try to beat 1.5% instant access offer in near future.
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,007
Likes: 1,829
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Post by littleoldlady on Apr 3, 2022 11:33:19 GMT
Looks like the 1.5% has generated enough demand to overwhelm their systems. App won't load and long wait time on help line. I've made about 10 deposits today and each time logged in to check the arrival, no problems with the App for me, quick as normal. Transferring from Halifax was a problem. Was trying to empty my two Reward accounts (it's only 5k in each). They stopped the payment and I had to call fraud department (otherwise they will suspend my accounts in 24 hours), phone call took about 40 minutes and they couldn't resolve the problem telling me to visit a branch... Not fancy a branch visit, so I've used my Bank of Scotland profile to log in and done it all through their website. Now Halifax can lock my empty accounts if they wish. Only a few years ago I was able to bounce any sum under 20k from bank to bank without any hassle. A couple of weeks ago I was transferring £5,500 from Lloyds to Virgin, payment was stopped and I had to phone their fraud department. They explained the reason - apparently 5.5 k is a very large sum. I've asked what is the maximum sum that won't trigger the alarm - didn't get an answer for this. It was sorted at the end of 20 minute conversation and payment went through. Now the same thing with Halifax, but they couldn't sort it.... so to be on a safe side I'm now doing transactions in under £500 chunks (a bit extreme, but I have no idea what the limit is before you are referred to "fraud"). Has anyone had a similar experience with major banks or is it just me being cursed? Yes I too found that the Chase account works smoothly once you are in it. Also had problems transferring funds to it caused entirely by the sending bank. they also could not say what amount would go under the fraud radar, they said it was not a fixed amount but rather one which their AI decided was unusual. I notice that Chase do not operate the account name checking system recently introduced by the clearing banks so I suspect that is the root of the problem.
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aju
Member of DD Central
Posts: 3,480
Likes: 917
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Post by aju on Apr 3, 2022 11:42:27 GMT
Everyone is expecting the rates to keep going higher but I wouldn't be gambling a lot of money on that. Inflation won't stay at that level for long, consumer spending will be drastically reduced by energy , fuel and mortgage costs. I think a lot of people will grab these rates after getting near zero for years and how long do you wait before switching from the lower easy access rates? We don't know how this particular race is going to progress, but I've noticed in the past that the competition can go further than expected. Chase set a new challenging standard for instant access and I won't be surprised if some other providers will try to beat 1.5% instant access offer in near future. I am expecting something to materialise so I'd definitely concur with your sentiment here about the race to get customers funds into companies coffers. I still think we have quite a way to go as yet so we will stick with the standard accounts that can be moved at short notice without forfeit. It will probably never go the way of the previous rises, (2007/8/9) were definitely good periods for myself and Mrs Aju whcih is putting it mildly. Even despite my co*k up with the icelandic banks at the time that we were very fortunate to get a positive result ultimately!. I have some funds waiting in the background but nothing has yet taken my fancy despite the recent movements. Our shares could do with a boost but at least our main one, BT, has started their dividends back up.
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aju
Member of DD Central
Posts: 3,480
Likes: 917
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Post by aju on Apr 3, 2022 11:48:51 GMT
Just noticed that Zopa's 1 year is up again to 1.75% - we have funds available but its still not moved far enough as yet the next week or 2 may prove more fruitful, perhaps!.
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billt
Posts: 89
Likes: 67
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Post by billt on Apr 3, 2022 12:26:56 GMT
Very easy sign up for me with Chase, impressed so far.
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agent69
Member of DD Central
Posts: 5,550
Likes: 4,167
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Post by agent69 on Apr 3, 2022 12:42:16 GMT
Am I correct in thinking that you have to manage you chase account on a mobile phone? Being a bit of a Luddite, I prefer to use my laptop for financial affairs.
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