On 28 May , Charter Savings Bank (the bank that provides your Savings Pot) will be reducing the interest rate on your Easy Access Savings Pot to 0.56% AER/Gross.
For me, this is the account I make monthly payments into for my Amazon Prime, so of little effect really.
Just waiting on Shawbrook now. Still showing at 1.15% at the moment, in-app.
Moving to Marcus, closure and withdrawal in the morning
Let’s see what happens but the rates alot better so I’m hoping GS hold it.
I wonder how much both the savings pots providers dropping their rates will have an impact on monzos % cut.
Marcus does seem like the only option atm
I do wonder if Marcus will drop below 1% soon
Has Investec made any announcement? I’ve just opened a pot with them at 0.93% in readiness for the Paragon rate going down.
Any lower than that and I think I’m gong to bite the bullet and open a Marcus account.
Marcus is also constantly dropping rates . While they are offering the best on demand rate in the market, by a wide margin, if you’re ok to have your money locked up for several months, people should definitely checkout https://www.raisin.co.uk/
The following products specifically caught my eye as an alternative to Marcus, as long as you don’t need instant access to your money --> https://www.raisin.co.uk/savings-accounts/notice-accounts/
1.6% from ICICI Bank UK with 95 day notice period
1.4% from ICICI Bank UK with 45 day notice period