Business Savings Account

[hgllgh]

Couple of seconds on google gets you this, amongst many other links.

https://www.freeagent.com/blog/tide-bank-integration/

yes, but it didn't specify if that applies to the business savings account as opposed to their standard business current account.

[jamesbrown]

yes, but it didn't specify if that applies to the business savings account as opposed to their standard business current account.

No integration with the savings account, only the current account.

On the upside, it's 4.33% (not 4.03%). App is a bit crap, though, not intuitive.

[BigLadFromBeeston666]

PSA: for everyone with Wise Interest. The sneaky bastards have put their asset fee up quite considerably.

[jamesbrown]

PSA: for everyone with Wise Interest. The sneaky bastards have put their asset fee up quite considerably.

Yup, went up about 0.3% or 0.4% on GBP assets. No change on USD. You'll probably see this over time.

Wise is a relatively big business now and costs only go in one direction - their fx fees have ramped up a few times too, although they are still competitive in the market.

[BigLadFromBeeston666]

Did you get any comms about it? I found out through a bloody forum. I agree, still competitive. Still 100% rate increase stings a little. Especially as they've just posted record profits.

[BigLadFromBeeston666]

Just had a look for something better.

https://www.tide.co/business-savings...te&irpid=23518

4.33% easy access. FSCS protected. I'm switching at the end of the month.

[jamesbrown]

Did you get any comms about it? I found out through a bloody forum. I agree, still competitive. Still 100% rate increase stings a little. Especially as they've just posted record profits.

Yeah, I had an email TBF.

[jamesbrown]

Just had a look for something better.

https://www.tide.co/business-savings...te&irpid=23518

4.33% easy access. FSCS protected. I'm switching at the end of the month.

That was being discussed a few posts above. I have that too. IIRC, it isn’t any better, though - GBP assets w/ Wise is currently 4.7% after costs, I think, although it depends on Gilt yields. Even if I’m forgetting and that’s before costs, Tide is no better. To get better, you need to tie it up in a one year bond.

[BigLadFromBeeston666]

That was being discussed a few posts above. I have that too. IIRC, it isn’t any better, though - GBP assets w/ Wise is currently 4.7% after costs, I think, although it depends on Gilt yields. Even if I’m forgetting and that’s before costs, Tide is no better. To get better, you need to tie it up in a one year bond.

My maths makes it:

Wise 4.7% (rate) - 0.56% (asset fee) = 4.14% return
Tide 4.33% (rate) = 4.33% return

It says the Tide interest is paid monthly. Wise is paid daily.

Am I missing something? On a separate note, I suspect the next BoE meeting will edge both these down.

[jamesbrown]

My maths makes it:

Wise 4.7% (rate) - 0.56% (asset fee) = 4.14% return
Tide 4.33% (rate) = 4.33% return

It says the Tide interest is paid monthly. Wise is paid daily.

Am I missing something? On a separate note, I suspect the next BoE meeting will edge both these down.

Not 100% certain, but I think it's 4.7% after fees, as implied here by "includes 0.56% annual fee":

https://wise.com/gb/interest/

It isn't explicit, though. The underlying Blackrock fund is returning around 5.15% right now, but the Wise rate is updated periodically (last updated in November).