Signed up easily enough, was on the ‘waiting list’ for less than 24 hours.
It did that annoying thing that the Algbra app does (obviously, as it’s the same!) where after clicking the confirmation from the email it takes you to a confirmation screen on a web page and then back to the app where it says open your email to find the confirmation link again, so I did because I forgot that what it actually means is ‘wait 10 seconds because we’re using this again as a holding page before we log you in’. Did the loop three times before I remembered.
Wouldn’t link my Algbra account even after a 24 hours, but linked my Nationwide account within seconds. Which is odd.
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Think this might be the case. 
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Got access finallly. Their saving pots are interesting. One is 7 days fixed. Does that mean you get all your money back plus 7 day interest after a week?
There is mention of 4.65% on the app landing page.
How do you get an invite code?
Told them to cancel my verification/application. Sent an email asking why it’s taking so long and they said due to high demand. Explained people who got invited long after me got verified before me lol.
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Is this something to do with Algbra?
I still have an Algbra account, but they seem to have been fannying about for ages trying to develop a different platform.
I keep getting emails saying ‘we’re nearly there, honest, mate, just a bit longer…’ Which, as you say, sounds very Chip. I shipped out of there long ago.
I’m shocked! Shocked, I tell you!
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High demand/insufficient staff/insufficient infrastructure alert.
I initially did a support chat on the app, said someone should be available within 10 mins. Took 2 days for a reply. 
Thanks. I signed up a while back and they emailed me last week with the code
Finally got an surprise invite code for this, after an eight year wait (joke). I’ve had a look around. Just a small selection of fixed period bonds at the moment - very similar to early Zopa when it moved from loans to savings.
The app onboarding experience was quite impressive. I also gave Support a shout, and the response was pretty quick and the agent amenable. The rates are not quite top of the range, but not far off either.
Might give it a try. Anyone else taken the plunge, or not impressed?
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Yep, I like Shoal’s proposition. And it’s powered by Algbra, which I also rather like.
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I used Algbra at one time. I think I only stopped because they either reduced the cashback offer or did away with it completely. But I maintained a presence, so I’ve been privy to the major partner and servicing changes that they’ve been through, which seem to have taken for ever.
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Any reflections from those that have tried Shoal? Does it all work smoothly?
You load money into Shoal, and then allocate it into savings ‘pots’ with fixed terms and interest rates in the mid-4% range. Not sure why the 3-month fixed rate is better than the 6-month fixed rate but… Anyway, it works really well but the rates, and no-access fixed term nature of the pots, are such that it’s not best for me at the moment.
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Yes, the main Shoal account is effectively a wallet, that is not interest bearing. Funds can be moved in and out of the wallet to saving pots as appropriate, and they are interest paying. The downside of that is that every deposit and withdrawal is a two stage process via the wallet, rather than one stage directly. It appears to be run by Standard Chartered Bank.
At the moment there are only four saving options, and they are fixed for various terms at different rates. Also as @foolhandy says, you can only deposit ONCE into a pot - the pot can not be added to, so you cannot deposit piecemeal until a ‘reasonable’ total is reached - you have to go straight in with the ‘reasonable’ amount, which is then inaccessible for the full fixed term.
On the upside, the shortest term is one week, so not tied up for long. Plus, apparently you can have as many pots as you want, and run them concurrently. That is my personal understanding, anyway. I’m considering it.
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Decided to finally open an account with Shoal yesterday afternoon after a reminder email from them, had the invite code a month ago, it’s needed doing for a while…
Input my details, photo of ID, then checking, checking, checking… then in the small hours they message me asking for SO much information, employment, bank statement, inside leg measurement, hat size, the list was insane. No thanks. I’ll stay elsewhere.
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Hello! 
Shoal is now available for everyone to download and onboard as the invite only process has been removed.
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