Light-year Savings Account Paying 2.50% Instant Access

How much do they charge per trade? Struggling to find an app with free trades. When dealing with €50 small purchases the €1 fee on trade republic takes the good out of it. Trading 212 was good when i lived in UK, no fee at all.

oh i hadn't realised. I'll have to empty my uk account first though i suppose. Trying to sell bits an pieces slowly over next year or two to keep under the radar!

Will I get 0.2% interest per month? (2.5%/12)

In this day you need to spread money around

Even with an institution that has 100k guarantee, if you only have 100k you don't put it all in one place. If that goes bang you won't have any cash until the guarantee pays out. And you are never 100% guaranteed it will pay out. Bail in legislation has already happened in some countries, so I wouldn't be surprised to see it invoked in EU if another bank gets into trouble

So for me, put money across a number of accounts. Unlikely the will all be in trouble at the same time.

Somebody else asked about Raisin. I found them difficult to deal with. Opening accounts with some banks meant printing physical forms, sending to Raisin in Germany and them applying to the actual bank. All the while your cash is stuck in limbo with Raisin earning nothing.

Wise (formerly Transferwise - why they changed the name I'll never know...) are an excellent online bank (far better than revolut in my opinion)

They give 3.12% for GBP and 3.85% for USD balances. It's paid monthly and they have the 100K deposit protection.

They give 1.79% on euro too but you are better off converting your savings to GBP or USD if you don't mind the currency risk.

If I put the full guaranteed 20k into Lightyear, what's the absolute worst that can happen?

I'm not going to invest in anything, just park the cash there to get interest.

And would you risk 20k with an unkown broker for such a small return?

I already have shares. This is just house deposit money I want to send to Lightyear. Currently earning 0.00000000000001% in Permanent TSB.

Yes it's guaranteed. But by the Estonian government. Who knows how long it will take me to get my money back if they go bust.

The problem with all those options is that you cannot have joint accounts. No broker offers it, no raisin banks offer it. The only one I have found so far is bunq which is not a great rate. Anyone seen anything better for joint accounts?