Easy Access Account

 
 
Super Pig
 

Immediate access to your cash whenever you need it

 
You don’t need to give any notice or pay a penalty

Easy Access Account
 
Easy access can mean:

  • Instant access – immediate cash withdrawal via a branch or cashpoint.
  • No-notice account – with internet/telephone accounts, in practice it can take a few days to get your money.

🙂  A good option for emergency funds, so you can get at them quickly in a crisis.
The Money Advice Service recommends having about 3 months’ essential outgoings readily available in an Easy Access savings account.

🙁  But watch out for restrictions on the number of withdrawals you can make.

🙂  Save at your own pace – as little or as much as you want each month.
 
 

Interest rates on Easy Access accounts

😥  The tradeoff for accessibility is interest rates tend to be relatively low (the best rates are generally on internet accounts).

Some accounts offer tiered rates – the higher your balance, the better the interest rate.

If you have some spare cash, but don’t want to lock your money away for a fixed period, an Easy Access account may give a slightly better return than your current account – but do check, because some bank accounts offer very competitive rates.

However, if you don’t need access to your money for a while, you could probably earn more from fixed term savings.

Easy Access accounts have variable interest rates, so monitor regularly and consider switching if they become uncompetitive.
 
 

Find out more:

Best Instant Access Savings Accounts – Which

Compare Easy Access Savings – Money Supermarket

 
 

Notice Account right arrow
DISCLAIMER - The information on this site is no longer being updated or maintained by hellograds.com. You use this information at your own risk. It is recommended that you obtain professional advice for your individual situation.