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Original poster

Atom Bank 4% 2 year fixed term deposit

20 replies

HuntingoftheSnark · 28/09/2022 06:28

Does anyone have an account with Atom Bank? It seems one of the best rates around at the moment - obviously this could change next year.

OP posts:
Brahumbug · 28/09/2022 20:11

I have an instant access acount and fixed account with Atom. I have had them for several years without any problem. Money transfers between Atom and your current account are instantaneous, no having to wait, excellent service.

whirlyhead · 29/09/2022 21:40

I have stable coin (GBP) with nexo at 8%. Money locked in for 3 months at a time. I haven’t found a better return than that.

Original poster
HuntingoftheSnark · 30/09/2022 17:56

whirlyhead · 29/09/2022 21:40

I have stable coin (GBP) with nexo at 8%. Money locked in for 3 months at a time. I haven’t found a better return than that.

That's excellent!

OP posts:
userxx · 01/10/2022 13:07

whirlyhead · 29/09/2022 21:40

I have stable coin (GBP) with nexo at 8%. Money locked in for 3 months at a time. I haven’t found a better return than that.

What is stable coin ?

I've just opened the atom account.

Brahumbug · 01/10/2022 21:37

You can now get 4.11% for a one year account at Atom.

userxx · 02/10/2022 13:29

Brahumbug · 01/10/2022 21:37

You can now get 4.11% for a one year account at Atom.

Yup, I applied on Saturday and shifted money over. The app is really good.

larkstar · 05/02/2023 13:40

I was just looking at Atom. I'm happy to put some money away in s 1yr fixed term. It's 4.15% as of today (Sunday 5th Feb 2023) - I've just opened an account - getting the face ID photo was a pain - you can't wear your glasses... So can't see what the screen is saying! Managed it somehow. It seems to accept my face wearing glasses to login though.

Actually I'm going to delay putting any money in right now so my account application will lapse in 7 days - I'm sure it'll be no problem to try and open one up soon.

On 2nd Feb the Bank of England views 7-2 to raise the base rate from 3.5% to 4% - look at the way the rates have been increasing over the last couple of years here:

www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp

This article dated 3rd Feb 2023 suggested that the interest rates are expected to double and points out that banks have been criticised for savings interest rates that are lagging behind the base rate changes.

www.thetimes.co.uk/money-mentor/article/best-savings-accounts/#fixed-term

So that's why I'm going to hang fire for the moment but I've agreed to notifications from the Atom app and hope to hear about any interest rate increases in the next month or two. I also read somewhere that the next BoE base rate change might be the last for a while - can't remember where I saw that.

Atom Bank 4% 2 year fixed term deposit
larkstar · 05/02/2023 13:42

views=voted!

userxx · 05/02/2023 14:39

Previously when the base rate has risen the banks were all over it, they'd increase their interest rates almost immediately, it's not happened this time, except with chase. I'm not sure how many more hikes we'll see.

larkstar · 05/02/2023 16:27

It’s the question everyone with a mortgage decision to make is asking.
The next BoE meeting is 23rd March - I can wait until then. If I had to guess, ATM I expect the economy to deteriorate if anything.

moneytothemasses.com/owning-a-home/interest-rate-forecasts/latest-interest-rate-predictions-when-will-rates-rise

larkstar · 05/03/2023 11:39

On 1st March Atom put their 1yr fixed rate up to 4.3% AER from 4.15% a month after the BoE increased the base rate from 3.5% to 4%. I'm going to wait and see what happens the next time the BoE decide on the base rate on 23rd March.

Atom Bank 4% 2 year fixed term deposit
userxx · 05/03/2023 16:39

@larkstar You could wait forever seeing what the rates do, I took out a 1 year fixed in October so I'm almost half way through.

Original poster
HuntingoftheSnark · 06/03/2023 11:53

I started this thread, I think. Me too. Also £150 a month into NatWest Digital Saver gives 6.17%.

OP posts:
GreenwichOrTwicks · 05/08/2023 09:31

Am interested in this and just trying to set up the app. Am slightly nervous at just downloading an app setting it up and transferring a load of dosh.

Brahumbug · 05/08/2023 11:32

@GreenwichOrTwicks
GreenwichOrTwicks · Today 09:31
Am interested in this and just trying to set up the app. Am slightly nervous at just downloading an app setting it up and transferring a load of dosh.

I have been with Atom for a few years and it is very easy to use. Are you looking at a fixed term deposit or the instant access? For the fixed term the minimum you can transfer is £50. I would do that amount just to check you have it set up right and then do your main transfer. Instant access, you can transfer any amount you wish.

BarbaraofSeville · 05/08/2023 11:41

This thread was started nearly a year ago. Check that the interest rate is still decent before putting your money in a fixed account. A lot has changed in the past few months.

Brahumbug · 05/08/2023 15:17

Atom's instant access is currently 3.95% and there are better ones available. The one year fixed saver is currently 6.05%, which very competitive.

userxx · 05/08/2023 20:04

I really rate Atom, the app is user friendly.

LoisPrice · 05/08/2023 21:42

Atom bank is very easy to open with various security on the app

they have a 2 year fixed paying 6.05%

LoisPrice · 05/08/2023 21:43

GreenwichOrTwicks · 05/08/2023 09:31

Am interested in this and just trying to set up the app. Am slightly nervous at just downloading an app setting it up and transferring a load of dosh.

I was similar so set up the app and did a test transfer for £20 and then again for £100 before depositing some savings. What drew me to Atom bank was the CEO, along with the high interest rates, used to work at first direct which also had a good reputation

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