Business Savings Account

[ensignia]

The annual fee from Wise makes it much less attractive.

On the balances I'm looking at keeping in there, their fee will be a few grand a year unless I'm getting it wrong (very likely).

Tide is good but only available to new members and I already have a current account with them.


VirginMoney still offering 4.55% on 120 day notice accounts which seems reasonable.

[jamesbrown]

The annual fee from Wise makes it much less attractive.

On the balances I'm looking at keeping in there, their fee will be a few grand a year unless I'm getting it wrong (very likely).

Tide is good but only available to new members and I already have a current account with them.


VirginMoney still offering 4.55% on 120 day notice accounts which seems reasonable.

Well, £3,000 ("a few") / 0.0056 = £536k, which you may be keeping with them, but you probably shouldn't. For the sensible limit of £85k, you're talking about £470 pa in fees, which definitely makes them less attractive, but still more attractive than the vast majority of instant access options out there, and once you're into splitting money across accounts for FSCS protection, then it becomes a least ugly baby contest and Wise wins quite quickly into that. YMMV.

[jamesbrown]

Wise are becoming cynical cretins, though. Attract customers with a good offer and then make it progressively worse. Boiling frog theory (i.e., increase heat gradually).

[BigLadFromBeeston666]

Wise are becoming cynical cretins, though. Attract customers with a good offer and then make it progressively worse. Boiling frog theory (i.e., increase heat gradually).

This is part of my decision to switch as well. Need to be punished for cynical moves.