Regular Savings Accounts: The Best Currently Available List!

1…631632634636637…692

Comments

  • EachPenny
    EachPenny Posts: 12,239 Forumite
    First Post Combo Breaker
    schiff wrote: »
    What are the odds that this discussion will continue

    I now understand why Virgin's phone lines were so busy when I tried to call about something else earlier!
    "In the future, everyone will be rich for 15 minutes"
  • Vortigern
    Vortigern Posts: 3,243 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Wheres_My_Cashback wrote: »
    Virgin have responded and confirmed it is an IT error affecting ALL RS accounts.
    I think it's called an OSWF error. ;)
  • bubieyehyeh
    bubieyehyeh Posts: 587 Forumite
    Name Dropper First Post First Anniversary
    I search the forum, and the saffron bs website, but yet to find out if it is possible to pay a 13th monthly payment into the saffron 12 month fixed regular saver account. Does anyone know?
  • TheShape
    TheShape Posts: 1,779 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    bubieyehyeh wrote: »
    I search the forum, and the saffron bs website, but yet to find out if it is possible to pay a 13th monthly payment into the saffron 12 month fixed regular saver account. Does anyone know?

    I thought I'd find out today when my SO would normally be sent to Saffron but I appear to have set the final payment for 01/09/17 so no payment attempted today.

    I don't think it's clear from the Saffron site:
    Paying money in

    Each month, for a maximum of 12 months, you can make payments from £10 up to £200, into your account at any of our branches or by post. You can make as many deposits during the month as you need to, providing they don't exceed the monthly limit of £200. Your deposits can be made by cash, cheque, or transfer from another bank or building society account. Where deposits are made by cheque we require at least seven working days before the funds are available to withdraw.

    To ensure you receive the maximum monthly interest your payments need to reach your account by the 28th of each month for them to be counted. Any missed payments can't be backdated.
  • mgarl10024
    mgarl10024 Posts: 643 Forumite
    First Anniversary Combo Breaker
    bubieyehyeh wrote: »
    I search the forum, and the saffron bs website, but yet to find out if it is possible to pay a 13th monthly payment into the saffron 12 month fixed regular saver account. Does anyone know?
    Each month, for a maximum of 12 months, you can make payments from £10 up to £200
    https://www.saffronbs.co.uk/savings/display.product/?categoryID=1&category=immediate&productID=g2



    I can't check atm, but pretty sure I tried last year and it bounced.
  • schiff
    schiff Posts: 20,099 Forumite
    Name Dropper First Post First Anniversary
    schiff wrote: »
    What are the odds that this discussion will continue :)

    I don't know if you can withdraw added interest from an ongoing RS without breaking the T&Cs but an interesting point arises. Does the March interest fall into the 2016/17 tax year, when it was added, or the current tax year when we'll have access.
  • mgarl10024
    mgarl10024 Posts: 643 Forumite
    First Anniversary Combo Breaker
    schiff wrote: »
    I don't know if you can withdraw added interest from an ongoing RS without breaking the T&Cs but an interesting point arises. Does the March interest fall into the 2016/17 tax year, when it was added, or the current tax year when we'll have access.

    Almost certain it applies in the tax year when it was paid, whether you have access or not.

    I remember this from a couple of years back: http://www.telegraph.co.uk/personal-banking/savings/nsi-pensioner-bond-warning-you-may-be-taxed-before-your-bond-mat/
  • glider3560
    glider3560 Posts: 4,115 Forumite
    Name Dropper First Anniversary First Post
    edited 3 October 2017 at 6:00PM
    schiff wrote: »
    I don't know if you can withdraw added interest from an ongoing RS without breaking the T&Cs but an interesting point arises.
    I've said it before and I'll say it again: the Virgin Regular Savers are all instant access. There is no bonus rate. The rate is fixed. Therefore there are no conditions to get the "higher" interest rate as there isn't a lower one. :D

    /QUOTE]Does the March interest fall into the 2016/17 tax year, when it was added, or the current tax year when we'll have access.[/QUOTE]
    Interest counts in the year it is paid, not when you withdraw it.
  • bubieyehyeh
    bubieyehyeh Posts: 587 Forumite
    Name Dropper First Post First Anniversary
    TheShape wrote: »
    I thought I'd find out today when my SO would normally be sent to Saffron but I appear to have set the final payment for 01/09/17 so no payment attempted today.

    I don't think it's clear from the Saffron site:

    Agreed, it isn't.

    I might give them a ring, but it the sort of question where staff might guess on the safe side (as they see it), when they don't know for sure.

    I could just try and see if bounces, and if it does then I ask them why, and because of what part of the T&Cs.
  • bubieyehyeh
    bubieyehyeh Posts: 587 Forumite
    Name Dropper First Post First Anniversary
    mgarl10024 wrote: »
    https://www.saffronbs.co.uk/savings/display.product/?categoryID=1&category=immediate&productID=g2



    I can't check atm, but pretty sure I tried last year and it bounced.

    The T&C aren't clear, but it would be great if they get chance to check what happened last year and report back.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards