Afternoon and thank you for the update on these accounts. Most of us are coming up too the 12mth savings payout period and looking for the next viable decent place to put our savings. Thanks to you we are more aware then ever on the best option.
@@richardc861 Hello, now they have matured I've skimmed off the nearly £990 of interest and put that into long term bond then reupped the money back into the highest available accounts for another 12mths.
I used to be obsessive over these vids and rates etc! but since learning about investing safely and cautiously it just wipes the floor with putting ur cash in savings acct n getting 4%
We already do that but then that’s only a small part of our savings up to our ISA limit, not sure to put the rest into the same into a non isa account or keep juggling savings accounts.
the ns&i 1 year bond paying 6.2% last year got a hellluva lotta hype. with less of a fanfare, vanquis bank also paid 6.2% not for 1 year but 2 years, so was even better imo. fortunately i managed to bag both accounts.
What’s your thoughts now as they mature. Are you thinking a year bond at near 5% or considering locking in longer term bonds given that rates look like they are going to start to come down?
@@richardc861 i stayed with ns&i and got 5.03% monthly for another year which was top of the table and still is. having gotten used to + 5 and 6% i am now seriously considering a stocks and shares isa for the longer term if rates do drop a lot. i would only consider 1 or 2 year bonds at the most while the going is good as longer than that the rates are just not good enough imo. only time will tell!
We are planning to emigrate, but to move savings ie open a new account, will need a U.K. address. Is the way round this to open an active savings type account of offerings like HL, Quilter, are there others or alternative options?
I personally save as much as I can now while now while still being able to treat myself - taking advantage of the interest rates we currently have. Don't save so much now that you end of scrimping in other areas. It is a fine balance! 😂
You just buy them at NS&i. They are not very competitive at the moment and haven’t been for some time. At the top rate of investment 50k expected return is just 3.9% at 5k 3.5% expected return. You could also win more or less.
@@JimNoname-mf8jm Ah ok, thanks mate. Never done premium bonds so never knew where to actually go for them. Imagine being lucky enough to win a sizeable amount👌
Same banks you use now, although 1 million should probably be invested not saved. You also get access to banks like Coutts that only except high wealth individuals. I’m assuming they’ll get better terms than your average banks due to increased capital
Those who say no are not completely correct. Your cash can be held in a variety of banks and/or in a QMMF. Money held in a QMMF is not protected. Money held in banks such as Jp morgan, natwest or barclays is protected. You can not choose how it is held. My current situation 40% is in a QMMF and the rest is within the banks I mention above. Within the T212 app, it will show you the distribution so whilst it could all be held in a QMMF, meaning no protection , it is likely a portion will be protected as some may be held in banks.
One to check. My understanding as long as you didn’t turn on the interest feature’ it was covered. The interest feature allows them to trade your uninvested money on the money markets.
@JimNoname-mf8jm that is correct, if you dont turn on the interest feature then you are covered under the FSCS scheme. I have made the bold assumption that because this is a savings video they were referring to uninvested cash earning interest. Thanks for pointing that out
I’ve got a digital saver too. Only problem is the amount you can save is limited to £150 pm and only up to £5,000 balance. When I opened the account I tried to deposit the full £5k and it got kicked out. 6% is good though.
@Petersworld77 Yeah it will take over 2 years to fill, but the good thing is they account stays open until Natwest decides to change the rules. You could get £25 a month on interest on your £5k which is very good. If you open the same account with RBS you'll earn 6.17% on £10k essentially. Also if you turn on the double round up feature, you'll reach £5k quicker.
I'm one of those who is currently with Zopa, looking to move to trading 212 cash isa which is still 5.2% as at today 9th of August. But not sure if T212 will drop the rate too!
I opened a Santander current account last November for the 7% savings account and only used the current account to transfer money into the savings account. I have never paid the monthly fee.
Does trading 212 still do the refer a friend deal where you both get a free share? I'm not yet a trading 212 customer but intend to open an ISA soon, so if I can get a free share whilst I'm at it then that'd be good
@@highnoon7097 don’t focus on the free share too much. I got £2.40 of Meta. Something is better than nothing, but you’re better off to start earning the interest rather than waiting for the freebie. Just my opinion, for what it’s worth.
It looks like there is an option to receive monthly interest for the Family Building Society windfall Bond on their website, however when you apply for this account the website says that interest is paid annually. Has anyone noticed this?
You can do better. Buy gold coins, Brittannias or Sovereigns. All profits you make are free off all taxes. Over the last year your profit would have been over 15%. No savings account can get anywhere near that.
More on the site becleverwithyourcash.com/august-2024s-savings-round-up-news/?Organic_TH-cam&Banking_savings&August24_link_in_YT_description
Why does Santander say 7% on the app?
It roughly works out at 6.67% every month for me
Afternoon and thank you for the update on these accounts. Most of us are coming up too the 12mth savings payout period and looking for the next viable decent place to put our savings. Thanks to you we are more aware then ever on the best option.
What have you ended up going for? Longer term bonds due to rates coming down or short term?
@@richardc861 Hello, now they have matured I've skimmed off the nearly £990 of interest and put that into long term bond then reupped the money back into the highest available accounts for another 12mths.
I used to be obsessive over these vids and rates etc! but since learning about investing safely and cautiously it just wipes the floor with putting ur cash in savings acct n getting 4%
What do you invest in?
You still need a saving account, even if it's just for an emergency fund
Where did you learn to invest safely and cautiously. Please share 😃
low cost index funds(ETFs) with maybe 10%-20% commodities for diversity in a tax free isa wrapper
We already do that but then that’s only a small part of our savings up to our ISA limit, not sure to put the rest into the same into a non isa account or keep juggling savings accounts.
the ns&i 1 year bond paying 6.2% last year got a hellluva lotta hype. with less of a fanfare, vanquis bank also paid 6.2% not for 1 year but 2 years, so was even better imo. fortunately i managed to bag both accounts.
What’s your thoughts now as they mature. Are you thinking a year bond at near 5% or considering locking in longer term bonds given that rates look like they are going to start to come down?
@@richardc861 i stayed with ns&i and got 5.03% monthly for another year which was top of the table and still is. having gotten used to + 5 and 6% i am now seriously considering a stocks and shares isa for the longer term if rates do drop a lot. i would only consider 1 or 2 year bonds at the most while the going is good as longer than that the rates are just not good enough imo. only time will tell!
Sorry, but I struggle to understand all this 😭. Im trying to find out whst the best savings account/starter account for a child at this time?
I’ve heard there are Junior ISAs
Are they going to lower loans rates?
We are planning to emigrate, but to move savings ie open a new account, will need a U.K. address. Is the way round this to open an active savings type account of offerings like HL, Quilter, are there others or alternative options?
you won't be able to you have to have been in the uk resident for 3 years to have isa savings benefits
How do you guys balance living for now v saving for future. It’s a tricky balance
I personally save as much as I can now while now while still being able to treat myself - taking advantage of the interest rates we currently have. Don't save so much now that you end of scrimping in other areas. It is a fine balance! 😂
Indeed it is because life is so unpredictable.😢
is chase 5.1% boosted savings being cut as well?
Yeah a little. The 1% bonus stays, but the 4.1% underneath drops by 0.25%
Yeah, it is now 4.85%
How do you put money into a premium bonds account?
You just buy them at NS&i. They are not very competitive at the moment and haven’t been for some time. At the top rate of investment 50k expected return is just 3.9% at 5k 3.5% expected return.
You could also win more or less.
@@JimNoname-mf8jm Ah ok, thanks mate. Never done premium bonds so never knew where to actually go for them. Imagine being lucky enough to win a sizeable amount👌
If you had £1m in cash where would you put it ?
In the bank
Same banks you use now, although 1 million should probably be invested not saved. You also get access to banks like Coutts that only except high wealth individuals. I’m assuming they’ll get better terms than your average banks due to increased capital
Property
Is uninvested cash held with Trading 212 protected by FSCS, up to £85k?
No
No it’s not. Covered in another video
Those who say no are not completely correct. Your cash can be held in a variety of banks and/or in a QMMF. Money held in a QMMF is not protected. Money held in banks such as Jp morgan, natwest or barclays is protected. You can not choose how it is held. My current situation 40% is in a QMMF and the rest is within the banks I mention above. Within the T212 app, it will show you the distribution so whilst it could all be held in a QMMF, meaning no protection , it is likely a portion will be protected as some may be held in banks.
One to check.
My understanding as long as you didn’t turn on the interest feature’ it was covered. The interest feature allows them to trade your uninvested money on the money markets.
@JimNoname-mf8jm that is correct, if you dont turn on the interest feature then you are covered under the FSCS scheme. I have made the bold assumption that because this is a savings video they were referring to uninvested cash earning interest. Thanks for pointing that out
Hi, can you do a video on the banks that offer most value on a current account switch please? With comparisons on additional benefits would be great
Does anybody know if the Windfall Bond account has a banking app?
Thanks
Whats the best joint savings account atm? Apart from Santander
I’m also wondering this aswell
Why isn't Natwest / RBS digital saver accounts in this list? They are still sticking with 6.17%
Yep, this is just the top ones. The rest are list on the site
I’ve got a digital saver too. Only problem is the amount you can save is limited to £150 pm and only up to £5,000 balance. When I opened the account I tried to deposit the full £5k and it got kicked out. 6% is good though.
@Petersworld77 Yeah it will take over 2 years to fill, but the good thing is they account stays open until Natwest decides to change the rules. You could get £25 a month on interest on your £5k which is very good. If you open the same account with RBS you'll earn 6.17% on £10k essentially. Also if you turn on the double round up feature, you'll reach £5k quicker.
@@deltaechomusicnh555 thank you for helping 👍
I'm one of those who is currently with Zopa, looking to move to trading 212 cash isa which is still 5.2% as at today 9th of August. But not sure if T212 will drop the rate too!
The Santander 1,2,3 is £3 fee per month. The Edge c,/account fee is £5 per month
The edge is £3 a month the edge up is £5 you need the edge for the edge saver
I opened a Santander current account last November for the 7% savings account and only used the current account to transfer money into the savings account. I have never paid the monthly fee.
Does trading 212 still do the refer a friend deal where you both get a free share? I'm not yet a trading 212 customer but intend to open an ISA soon, so if I can get a free share whilst I'm at it then that'd be good
not at the moment :)
@@remylourdes thanks. Maybe I'll wait until the promo is back on then
@@highnoon7097 don’t focus on the free share too much. I got £2.40 of Meta. Something is better than nothing, but you’re better off to start earning the interest rather than waiting for the freebie. Just my opinion, for what it’s worth.
Yes it now is doing it. For around another 40 days
@@Terrainahead1 thanks. That's me moving 80k over then
It looks like there is an option to receive monthly interest for the Family Building Society windfall Bond on their website, however when you apply for this account the website says that interest is paid annually.
Has anyone noticed this?
I think it's annual only. Also, the 35 days notice is a notice of account closure - so not a part withdrawal of funds
You can do better. Buy gold coins, Brittannias or Sovereigns. All profits you make are free off all taxes. Over the last year your profit would have been over 15%. No savings account can get anywhere near that.
High risk. Relies solely on capital gains.
4.02% Isa a good rate?
No trading212 is 1.18% higher
Virgin have a 5.01 fixed 1 yr rate.
Virgin have a 1yr fixed rate 5.05% if you have or open a free current account. Trading 121 is not fixed and is likely to drop in rate imo.
Economy is crashing guys stack silver bullion now 😃
@@MrLiloakes we should take to the streets if that happens... oh no wait we only protest trivial bullshit
😢