The full story is that Vanguard currently pay a variable rate, not that I've ever really found out what that was! However from sometime in March they are fixing it 'which will be reviewed on a regular basis' but to start with is the 2.2%.
As far as I can see it apply's to just about every account they do;
General Accounts, ISAs, Junior ISAs and Vanguard Personal Pension Accounts (what they call their SIPP)
Vanguard Personal Financial Planning Accounts – Vanguard Financial Plan Management
I'm doing a job for one of the main UK banks at the moment. They are assuming that they will have to offer interest on current accounts soon ....
I remember being annoyed when Nationwide, whom I use for my current account, stopped doing that. I have no idea when it was, probably fifteen or twenty years ago. Long enough for me to have forgotten it was even a thing anyway.
I'm doing a job for one of the main UK banks at the moment. They are assuming that they will have to offer interest on current accounts soon ....
Had a message from Chase today saying that they will be paying 1.0% on my current account from April. Have already raised instant access saver to 3.0%.
I'm doing a job for one of the main UK banks at the moment. They are assuming that they will have to offer interest on current accounts soon ....
Had a message from Chase today saying that they will be paying 1.0% on my current account from April. Have already raised instant access saver to 3.0%.
I saw that too - They are also offering Nutmeg as an investment option with a £100 cashback if you invest £1000, if you can pull it out after the £100 cashback it seems like an easy way to bank 10%
For those who make regular international cash transfers...
I think we briefly discussed HSBC's new Global Money account, which I duly opened just as I was on the point of ditching them completely. Up to now I've been using Wise to send regular transfers to my Czech bank. They offered mid-market rates (previously unobtainable for us punters) and a small, competitive fee, compared to the banks. It was generally quite smooth, although I had to enter the payment details manually each time on the Wise website.
HSBC have now confirmed that within the Global Money account, I can transfer into Czech crowns at mid-market rate, with no fee - and then send it to my Czech bank account also for no fee. The guy on the line made sure to double-check the second point, so he tried to suppress a chuckle when, having absorbed this most encouraging information, I observed that they are going to put Wise out of business. Well of course only a % of their customers have an HSBC account, but it will damage them.
Capitalism, market economies, what bastards they are, eh? HSBC have only done this because people like Wise have come along, (and, I think, thanks to the little discussed Open Banking measures introduced in the UK in 2017). But my previous loyalty to Wise had already been tempered by a coincidental issue which surfaced recently, in which Wise suspended the account of a young Berlin based woman who was organising crowdfunded bullet proof vests to be sent to Ukraine and used by journalists and humanitarian workers. So they can enjoy a dose of karma. Overall a rare victory for the small mug punter. Well, that is until I survey the current dismal state of the £GBP rate against all European currencies...
For those who like the bigger names/security. NS&I have a one year bond paying 4%, minimum £500 but capped at a miserly £1m .
Very good. In the last few weeks the only places that match that are no-name foreign banks on Raisin which I really don't fancy,and 1 year rates generally seem to have been slightly easing since December when I managed to get 4.36% from Investec. Who needs short gilts and Treasuries (with platform fees to pay) when you can get much the same from NS&I ?
For those who like the bigger names/security. NS&I have a one year bond paying 4%, minimum £500 but capped at a miserly £1m .
Very good. In the last few weeks the only places that match that are no-name foreign banks on Raisin which I really don't fancy,and 1 year rates generally seem to have been slightly easing since December when I managed to get 4.36% from Investec. Who needs short gilts and Treasuries (with platform fees to pay) when you can get much the same from NS&I ?
But of course, I forgot that the relationship between the purveyors of Granny Bonds and fintech is always a bit flaky. How best to send them a largeish sum of wedge? A guy on MSE said the best way to transfer in the money is to first send it to your Direct Saver by debit card. Great, I have a Direct Saver so I set about it. On Tuesday. Today after my 4th attempt to buy the bond failed because on the payment it showed I didn't have the funds in my Direct Saver, whereas on the account page it says I do, I lost patience. Tried their chat. Got a bot. Called their customer service line. Another bot. Humoured the thing for a few attempts but ended up bellowing "put me through to a customer representative" and on the 3rd time it did. Only to hear that I might have to wait 30mins. Tried their Twitter -odd how many big companies are nowadays most responsive on their Twitter. And the answer?
"The 'available balance' for transfers will not update until the debit card deposits on your account have cleared. As previously advised, this will clear no later than the seventh banking day."
I often transfer funds to H-L by debit card. They need max one working day.
That whole thing about current accounts dragging their feet about paying interest when interest rates are on the rise tells you everything you need to know about retail banking.
On another slightly hypocritical note given what I think of investment bankers I've opened a few funds to try and make up for the shellacking my employers gave my own pension a few years ago and seeing as any other way of ensuring a pension fund with my means is restricted to bank robbery or something else massively fraudulent
I've got a few funds now with HL and I've done a small amount into two funds of my own in particular one is the c*nt list, this is a batch of companies that test on animals, willfully pollute, gave at best questionable health and safety records, are anti-union, rip off the end user or are into selling arms to places like Saudi Arabia, China, Iran at al. The other is purely ethical businesses who are into sustainable projects, water solutions, organic farming, sustainable growth.
Most of you who have forgotten more than I'm ever going to know about this sort of thing will probably guess where this is going. The c*nt list was massively out-performing the good list until the turn of the year when the sustainable and responsible stuff picked up and is now out-perfomring the c*nt list
Markets turning tail this afternoon after worse than expected inflation numbers from the US. The Fed night have to raise rates higher than expected, or at the very least, keep them higher longer.
That whole thing about current accounts dragging their feet about paying interest when interest rates are on the rise tells you everything you need to know about retail banking.
On another slightly hypocritical note given what I think of investment bankers I've opened a few funds to try and make up for the shellacking my employers gave my own pension a few years ago and seeing as any other way of ensuring a pension fund with my means is restricted to bank robbery or something else massively fraudulent
I've got a few funds now with HL and I've done a small amount into two funds of my own in particular one is the c*nt list, this is a batch of companies that test on animals, willfully pollute, gave at best questionable health and safety records, are anti-union, rip off the end user or are into selling arms to places like Saudi Arabia, China, Iran at al. The other is purely ethical businesses who are into sustainable projects, water solutions, organic farming, sustainable growth.
Most of you who have forgotten more than I'm ever going to know about this sort of thing will probably guess where this is going. The c*nt list was massively out-performing the good list until the turn of the year when the sustainable and responsible stuff picked up and is now out-perfomring the c*nt list
Actually I didn't guess this bit at all. I assumed your post stopped before that second part of the sentence. Quite surprised, actually, I hadn't noticed this - that may be because my C*nt list stuff is hidden within broad scope funds like Fundsmith Equity and I pretend I don't know they are there .
Markets turning tail this afternoon after worse than expected inflation numbers from the US. The Fed night have to raise rates higher than expected, or at the very least, keep them higher longer.
What a surprise. We all expected markets generally to continue struggling in late 2022 and the first half of 2023. Unexpectedly they started rising in October and after 3/4 months of increases, I decided the markets weren't going to fall drastically as commentators suggested interest rates had either peaked or were close to peaking.
So I did our S&S ISAs at the end of January, which was the signal for commentators to suggest rates will likely rise further and the markets turned.
Markets turning tail this afternoon after worse than expected inflation numbers from the US. The Fed night have to raise rates higher than expected, or at the very least, keep them higher longer.
What a surprise. We all expected markets generally to continue struggling in late 2022 and the first half of 2023. Unexpectedly they started rising in October and after 3/4 months of increases, I decided the markets weren't going to fall drastically as commentators suggested interest rates had either peaked or were close to peaking.
So I did our S&S ISAs at the end of January, which was the signal for commentators to suggest rates will likely rise further and the markets turned.
In future can you let us know when you are about to invest & we can all sell
Markets turning tail this afternoon after worse than expected inflation numbers from the US. The Fed night have to raise rates higher than expected, or at the very least, keep them higher longer.
What a surprise. We all expected markets generally to continue struggling in late 2022 and the first half of 2023. Unexpectedly they started rising in October and after 3/4 months of increases, I decided the markets weren't going to fall drastically as commentators suggested interest rates had either peaked or were close to peaking.
So I did our S&S ISAs at the end of January, which was the signal for commentators to suggest rates will likely rise further and the markets turned.
I’ll have to start using you as my markets indicator @Covered End, the way I used to use @guinnessaddick as my Grand National one. The horse he backed always used to fall at the first fence! 😉
Premium bonds tomorrow, the two £1m winners were from Oxfordshire and Nottinghamshire so not me, again
And more rewardingly, today us mug punters who have retreated into cash deposits can check the interest we earned last month. I see I have some dividend payments last month too.
Comments
As far as I can see it apply's to just about every account they do;
https://www.chase.co.uk/gb/en/legal/nutmeg-100-investment-boost-reward-terms-and-conditions/
I think we briefly discussed HSBC's new Global Money account, which I duly opened just as I was on the point of ditching them completely. Up to now I've been using Wise to send regular transfers to my Czech bank. They offered mid-market rates (previously unobtainable for us punters) and a small, competitive fee, compared to the banks. It was generally quite smooth, although I had to enter the payment details manually each time on the Wise website.
HSBC have now confirmed that within the Global Money account, I can transfer into Czech crowns at mid-market rate, with no fee - and then send it to my Czech bank account also for no fee. The guy on the line made sure to double-check the second point, so he tried to suppress a chuckle when, having absorbed this most encouraging information, I observed that they are going to put Wise out of business. Well of course only a % of their customers have an HSBC account, but it will damage them.
Capitalism, market economies, what bastards they are, eh? HSBC have only done this because people like Wise have come along, (and, I think, thanks to the little discussed Open Banking measures introduced in the UK in 2017). But my previous loyalty to Wise had already been tempered by a coincidental issue which surfaced recently, in which Wise suspended the account of a young Berlin based woman who was organising crowdfunded bullet proof vests to be sent to Ukraine and used by journalists and humanitarian workers. So they can enjoy a dose of karma. Overall a rare victory for the small mug punter. Well, that is until I survey the current dismal state of the £GBP rate against all European currencies...
If monthly income required rather than just paid at the end of the year it only drops to 3.9%
"The 'available balance' for transfers will not update until the debit card deposits on your account have cleared. As previously advised, this will clear no later than the seventh banking day."
I often transfer funds to H-L by debit card. They need max one working day.
On another slightly hypocritical note given what I think of investment bankers I've opened a few funds to try and make up for the shellacking my employers gave my own pension a few years ago and seeing as any other way of ensuring a pension fund with my means is restricted to bank robbery or something else massively fraudulent
I've got a few funds now with HL and I've done a small amount into two funds of my own in particular one is the c*nt list, this is a batch of companies that test on animals, willfully pollute, gave at best questionable health and safety records, are anti-union, rip off the end user or are into selling arms to places like Saudi Arabia, China, Iran at al. The other is purely ethical businesses who are into sustainable projects, water solutions, organic farming, sustainable growth.
Most of you who have forgotten more than I'm ever going to know about this sort of thing will probably guess where this is going. The c*nt list was massively out-performing the good list until the turn of the year when the sustainable and responsible stuff picked up and is now out-perfomring the c*nt list
what will probably happen with dxy.
Unexpectedly they started rising in October and after 3/4 months of increases, I decided the markets weren't going to fall drastically as commentators suggested interest rates had either peaked or were close to peaking.
So I did our S&S ISAs at the end of January, which was the signal for commentators to suggest rates will likely rise further and the markets turned.