More info from @bukisule over here:
Oaknorth now in at 3% too, will be interesting to see what Shawbrook come up with 3.01 no doubt
Extra £2 more a year for £10,000 held
Unless Monzo decide to do something, it’ll be back to Chip I go, as loyal as I am, I will go wherever the rate is best
Amazing if rates could be 3.4% as well but Ofc Monzo has to think about whether or not it’s suitable for them
It’s a very different decision for a bank with a range of considerations, and a Robo investor service in a massively competitive market.
For a bank, 3% instant access is good business, at a decent margin
I’m trying to work out what interest rate the easy access pots would have to offer to convince me to bother moving the money from the 3% instant access pot.
I wouldn’t move it for 3.1% and I would move it for a 3.5%. So I know it’s a rate somewhere inbetween. I know every .1% makes a difference, but it’s such a faff shifting the money around all the time.
3.05% now from Paragon.
Monzo savings just went to 3.2%
Glad to see it’s automatic
I saw this thread bumped and fully expected it to be someone asking when it would go up, I didn’t expect them to increase the rate within an hour of the announcement.
Good work, Monzo.
Also now showing within the app (including the safety net pots)
Was there an announcement? I see the different rate if I go looking for it but haven’t had an email / splash in app.
(More importantly: well done the 'zo).
I got it in a email
Great communication from them too. See it in app and had an email
niiiiiiiiiiiiice
got the email but its not updated in my app on either of the pots
Close to my Zopa accounts now (3.21%), though they yet to move.
It was a BOE increase of 0.25 % hoped to get the full increase passed on