revtothelimit - motorbike forum

Mr. Dazzle wrote: Wed Jul 19, 2023 9:06 am Today's news is that inflation is less than expected...

Start of a trend? Who knows! Certainly not the banks by the sounds of it But anyway, perhaps it means rates won't climb as quick as expected and these deals will start to fade away.

Or maybe it doesn't. How the fuck should I know?

MyLittleStudPony wrote: Sun Jul 23, 2023 10:01 am I've done all my fixing for the next year. All a little over 6%.

Will better be available later in the year? Maybe.

Yorick wrote: Sun Jul 23, 2023 3:26 pm

MyLittleStudPony wrote: Sun Jul 23, 2023 10:01 am I've done all my fixing for the next year. All a little over 6%.

Will better be available later in the year? Maybe.

Maybe. Got most of our ISAs at over 5% for 5 years to make sure.

Potter wrote: Tue Jul 25, 2023 7:53 am

MyLittleStudPony wrote: Sun Jul 23, 2023 10:01 am I've done all my fixing for the next year. All a little over 6%.

Will better be available later in the year? Maybe.

Where did you get over 6%?
I haven't had a proper look because I'm building up another nest egg and I'm not ready to deposit anything yet, but I can only see these online banks like Atom that are offering over 6% and I don't know if I want to bother, I've read too many complaints about online only banks and the hassle of administering them, especially at the end of the term.

Potter wrote: Tue Jul 25, 2023 9:54 am

MyLittleStudPony wrote: Tue Jul 25, 2023 9:46 am Maybe I'll run into problems at the end, but I can't see them not giving my my money back.

I'm just going on what a couple of people told me, there are probably lots of satisfied customers.

Apparently the issue was at the end of the term, when the online bank credits the interest and then moves the money into a basic saver with low interest whilst awaiting further instructions. The people I spoke to said it took a long time to eventually get through to them and move the money or put it back into another bond, they said it took weeks even just for them to reply.

I've had delays of up to ten days with some and when it's a decent chunk of money it starts to get a bit worrying, so that's why I threw bigger amounts into NS&I because it's guaranteed and even though they can sometimes take a week to administer something, you at least know it's safe - although as I said I wish I'd held my nerve rather than wrap it up earlier this year at 4%.

Potter wrote: Tue Jul 25, 2023 7:53 am I've read too many complaints about online only banks and the hassle of administering them, especially at the end of the term.