Regular Savings Accounts: The Best Currently Available List!

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Comments

  • A curious feature of this Society is that before applying you need to check with all your relatives to find out if any of them is a customer! (look at the application form and you'll see what I mean).
  • EachPenny
    EachPenny Posts: 12,239
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    A curious feature of this Society...

    The 'Public Trust' question was the one which got me thinking... what does "closely connected" actually mean? I voted for a politician once, does that count ;)
    "In the future, everyone will be rich for 15 minutes"
  • Steve_xx
    Steve_xx Posts: 6,970
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    Interesting. I wonder if a Chorley member can have both the higher and lower rated account?
  • colsten
    colsten Posts: 17,597
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    The new RS offering from Chorley BS looks worth a look: 2.50% p.a. variable; 12 months term; max £500 per month; branch or post; open to UK residents; this BS seems to have online 'read only' functionality. Plus a distinct 2.75% issue for existing members of long standing. Does anyone see a catch?

    I don't like the way they describe the FSCS protection as it is utterly unclear to me whether these accounts are or are not covered by the FSCS.
    Your savings in this product may be covered, subject to eligibility

    The application form is for a Share account. The T&Cs don't describe what a Share account is. At the bottom, there's "staff only" tick box which determines whether the account is eligible for FSCS or not.

    Has anyone yet fully investigated this? Are the accounts FSCS protected, yes/no?
  • I think that's just to cover the possibility that a saver might have other accounts with the Chorley and that their total savings could then be over the £85000 limit so that the excess would not be covered by the scheme.
  • mgarl10024
    mgarl10024 Posts: 643
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    edited 25 April 2017 at 9:00AM
    Am I reading it correctly that there are no free electronic withdrawals at maturity? As I'm nowhere near a branch, would I have to request a cheque? Seems a little faffy?
    edit: Or CHAPS, subject to a £25 fee.
  • lucky77
    lucky77 Posts: 212
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    I have just spoken to a lady at Chorley BS. She advised me that a Chorley member can only open one of the regular saver accounts , not both.
    Also the monthly deposits can be varied each month up to a maximum of £500 so you are not committed to paying the same amount every month. You can also make more than one deposit per month as long as the total deposits amount to no more than £500.
  • karlie88
    karlie88 Posts: 9,113
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    colsten wrote: »
    I don't like the way they describe the FSCS protection as it is utterly unclear to me whether these accounts are or are not covered by the FSCS.

    The application form is for a Share account. The T&Cs don't describe what a Share account is. At the bottom, there's "staff only" tick box which determines whether the account is eligible for FSCS or not.

    Has anyone yet fully investigated this? Are the accounts FSCS protected, yes/no?

    The fact that it's a standard regular saver and that they're registered on here, surely means the account is protected under the FSCS? No?
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • Steve_xx
    Steve_xx Posts: 6,970
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    karlie88 wrote: »
    The fact that it's a standard regular saver and that they're registered on here, surely means the account is protected under the FSCS? No?

    Who Knows?

    I've emailed the Chorley and the FSCS for clarification regarding the accounts. I'll post their response when I receive it.
  • Mee
    Mee Posts: 1,441
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    Hi
    Has anyone tried opening a Smart Save Monthly (2) before their issue 1 has matured? Not sure if there is a restriction on opening different issues from T&Cs.
    Free thinker.:cool:
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