The Lemon Fool

Hi,
Has anybody got any recommendations for an easy access savings account with a good rate of interest
We would use it to top up the household current account which is with Nat West
We would keep a float of 20-30k in there
Maximum 1 transaction per month
It could be a joint or individual account
Good online interface for transferring between banks
Ideally based in uk
Thanks in advance
Cheers
Binlid

We have recently opened an easy access savings account with Kent Reliance. Apart from the usual faffing about with proof of id it was very easy. Paying just over 5%. Online access working well.

Chip Instant Access has worked OK for me. Currently 4.84% AER. It was easy to set up. It's linked to my bank account. Transfers seem to be done in minutes. It's managed via an app.

Imbiber wrote:We have recently opened an easy access savings account with Kent Reliance. Apart from the usual faffing about with proof of id it was very easy. Paying just over 5%. Online access working well.

Watch out for Kent's practice of having issues of accounts, so it's often only the latest issue that gets the best rate. You can easily transfer from an old issue to a new issue but it's a faff that you could avoid with another provider. Despite this, I've stuck with them.

If you want a 'known' name, we've been with the Yorkshire Building Society for the last 3 or 4 years. No issues at all. Currently they are offering

Internet Saver Plus Issue 14 - Unlimited withdrawals
4.80%

Thanks everybody

bluedonkey wrote:

Imbiber wrote:We have recently opened an easy access savings account with Kent Reliance. Apart from the usual faffing about with proof of id it was very easy. Paying just over 5%. Online access working well.

Watch out for Kent's practice of having issues of accounts, so it's often only the latest issue that gets the best rate. You can easily transfer from an old issue to a new issue but it's a faff that you could avoid with another provider. Despite this, I've stuck with them.

Remember that Kent Alliance is part of One Savings Bank, so the FSCS guarantee will only apply to One Savings!


Steve

One issue with some of these accounts is that it can take several days to get the money out. Goldman Sachs Marcus is very good on that count and withdrawals always reach my bank account in a few minutes.

stevensfo wrote:

bluedonkey wrote:Watch out for Kent's practice of having issues of accounts, so it's often only the latest issue that gets the best rate. You can easily transfer from an old issue to a new issue but it's a faff that you could avoid with another provider. Despite this, I've stuck with them.

Remember that Kent Alliance is part of One Savings Bank, so the FSCS guarantee will only apply to One Savings!


Steve

Kent Reliance is the trading name of One Savings Bank plc. There is no actual bank called One Savings Bank and Kent Reliance doesn't share its FSCS coverage with anything else. https://www.moneysavingexpert.com/savings/safe-savings/#whatcounts

mc2fool wrote:

stevensfo wrote:Remember that Kent Alliance is part of One Savings Bank, so the FSCS guarantee will only apply to One Savings!


Steve

Kent Reliance is the trading name of One Savings Bank plc. There is no actual bank called One Savings Bank and Kent Reliance doesn't share its FSCS coverage with anything else. https://www.moneysavingexpert.com/savings/safe-savings/#whatcounts

Many thanks for the correction. I try to keep track of companies and their little re-naming/alias tricks and in one of my old Excel sheets, I had 'part of One Savings Bank'.

Though nice to know that we are allowed to use an alias for our transactions.

Steve - alias Artful Dodger Ltd.

clissold345 wrote:Chip Instant Access has worked OK for me. Currently 4.84% AER. It was easy to set up. It's linked to my bank account. Transfers seem to be done in minutes. It's managed via an app.

That was my go to account from prob mid 2023 to late 2023 as they increased their rates and were best buy for a while on MSE - and while I've since moved the funds elsewhere (into Premium Bonds as I'd maxed my interest income) the movement of funds in and out was as you would expect for an internet account - instant.

I am using Shawbrook Bank. The money does not come out until the working day after the working day on which you make the request, but there is no limit on withdrawals and the interest rate is currently 5%. They have been doing well at staying reasonably near the top of the table.

Redmires wrote:If you want a 'known' name, we've been with the Yorkshire Building Society for the last 3 or 4 years. No issues at all. Currently they are offering

Internet Saver Plus Issue 14 - Unlimited withdrawals
4.80%

Another vote for Yorkshire. They also have an extensive branch network for those of us who prefer to avoid online accounts and bank in person.

Lootman wrote:

Redmires wrote:If you want a 'known' name, we've been with the Yorkshire Building Society for the last 3 or 4 years. No issues at all. Currently they are offering

Internet Saver Plus Issue 14 - Unlimited withdrawals
4.80%

Another vote for Yorkshire. They also have an extensive branch network for those of us who prefer to avoid online accounts and bank in person.

The easy access accounts they are currently offering are all online accounts. The Skipton is better for branch access, but the rates are currently not good for large amounts. I like branch access as a back-up, but I do not use it. Nonetheless, I use the Skipton for my low balance quick access accounts. They are very good.

GeoffF100 wrote:I am using Shawbrook Bank. The money does not come out until the working day after the working day on which you make the request, but there is no limit on withdrawals and the interest rate is currently 5%. They have been doing well at staying reasonably near the top of the table.

I do find that a bit strange and I don't know why they do that. I think the rate drops next month or in a few days. It did catch me out once as I'd forgotten about it. They do give a warning when you log on. I use the Santander account for immediate stuff now and it's rate is higher.

GeoffF100 wrote:

Lootman wrote:Another vote for Yorkshire. They also have an extensive branch network for those of us who prefer to avoid online accounts and bank in person.

The easy access accounts they are currently offering are all online accounts. The Skipton is better for branch access, but the rates are currently not good for large amounts. I like branch access as a back-up, but I do not use it. Nonetheless, I use the Skipton for my low balance quick access accounts. They are very good.

Hmm, OK, I was definitely offered an Instant Access account at a Yorkshire branch last summer. but I chose a term account instead so I guess things might have changed since then. I might have gone with the Skipton branch across the street but they wanted me to have an in-person consultation with an "adviser" first and I could not stomach that.

Lootman wrote:

GeoffF100 wrote:The easy access accounts they are currently offering are all online accounts. The Skipton is better for branch access, but the rates are currently not good for large amounts. I like branch access as a back-up, but I do not use it. Nonetheless, I use the Skipton for my low balance quick access accounts. They are very good.

Hmm, OK, I was definitely offered an Instant Access account at a Yorkshire branch last summer. but I chose a term account instead so I guess things might have changed since then. I might have gone with the Skipton branch across the street but they wanted me to have an in-person consultation with an "adviser" first and I could not stomach that.

Crikey! I haven't heard about a personal consultation since the 1990s!

You should have gone for it and then had a teeshirt printed!

Steve

PS Nationwide does the same thing, but they are only useful if there's nothing good on the TV!

I use Tandem bank, very easy to pay money in and out.

My husband and mum have instant access ISAs with Zopa - this means they aren't liable to pay tax on interest income over £1000, which would be the case if you have £30k.

The reason they chose Zopa is that it allows you to take money out of the ISA and put it back in again! So you can put in your £20k, take a few £k out, and then top it back with the same amount later within the same tax year.

If you go over your ISA limit in ZOPA, then then money automatically goes into a normal savings pot, which pays just a fraction less interest. It's helpful for not having to count the money in and out of the ISA.

We also use Chase current account and savings account. It's dead easy to transfer between accounts so you can feed your current account from the saver account. The interest is 4.15% on the saver (it will start tracking base rate from May so is variable) and 1% on the current account.

Jopo1

I just opened a cash ISA at Leeds Building Society.
Current interest rate is 4.75% unlimited withdrawals.