Kind of… They have the Bonus savings account which pays 2.6% , which is only given in the months you don’t make a withdrawal. If you make a withdrawal then the rate is .65% for that month. Essentially an easy access with friction savings account.
FD has become my main account now having moved over from NatWest. The app for NatWest functionality wise is leagues ahead of FD, almost neobanky imo. However the CS is terrible and there’s no branches near me at all. So because of that I decided to go with FD. The CS has been top notch, waaaaay better than Monzo and Chase of the fintechs and hands better than any high street bank… The only minor negative has been the app, visually I really vibe with the style the monochromatic minimalist style is . Notifications really is the only thing I want them to add…
Thanks for the info I appreciate it! So it’s easy access but you lose the better rate for that month if you take money out, I guess it doesn’t effect previous or later months rate?
Looking in the app I can only see the 7% savings account…
Nope just that month. Then the next month it returns to 2.6% as long you don’t sup into it again. Unlike the 7% regular saver the interest is paid monthly too. Which I always find motivating to keep on saving personally
You have to ring them up to set up the savings accounts though. Which didn’t take long and the CS rep that helped me was at pains to make sure I knew what the situations with each of the accounts was.
I’d say the feature I want the most is rounds ups. Most places do them now and I find they’re a nice little booster to saving. I was kinda surprised to see that FD didn’t do that. Feels like a fairly ubiquitous feature nowadays…
You have to call to open the bonus saver one over the phone, which is a transfer to another team.
Their app needs some upgrades IE remove pending transactions, have available balance on home page and get notifications into play alongside full product availability about to be done through app without human intervention.
. Notifications really is the only thing I want them to add…
