Interest rate on Allica saving account

Is there any chance or negotiations taking place with Allica bank about increase of interest on there easy access account, as now they are way behind as Barclays have just announced 5% easy access account and others are now over 2.5% it’s Fallen way behind @Team-Chip

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This account is being closed in the near future for a chip own base rate tracker account so watch this space….

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This can’t come soon enough as the a/c is losing the depositor’s beneficial interest daily.

Did I not read somewhere that this would be rolled out in Q1 2023? Seems quite far down the line considering the change to interest rates over the last few weeks. Chip could be left well behind by the time the new account goes live.

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I’ve already moved my savings to Barclays. Chip - you need to be more agile than a traditional bank or you will surely be crushed.

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Hi guys

Correct me if I’m wrong isn’t the barclays rate ( 5%) only upto 1k savings??

I’ve pulled my savings out for a better rate elsewhere. Unfortunately this was taking far too long for me.

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That Barclays rate is up to 5k I think

Account name – Rainy Day Saver

What is the interest rate ?
Balance

£1+ to £5,000
Gross rate p.a. %
5.00
Interest is calculated daily using the statement balance and is paid monthly on the first working day of the month. Interest rates are banded. This means that you’ll earn the higher rate of interest on the first £5,000 of your balance, and the lower rate of interest on your additional balance over £5,000.

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