Regular Savings Accounts: The Best Currently Available List!

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Comments

  • steve65e
    steve65e Posts: 154 Forumite
    Steve_xx wrote: »
    You may not get as far as year 3. Leeds have a habit of terminating these accounts if they perceive that they're paying interest over the odds!

    Which would make our entire discussion academic!
  • schiff
    schiff Posts: 20,099 Forumite
    Name Dropper First Post First Anniversary
    Steve_xx wrote: »
    You may not get as far as year 3. Leeds have a habit of terminating these accounts if they perceive that they're paying interest over the odds!

    The OP said they were planning another RS shortly which isn't the attitude of a society withdrawing from the fight!

    There is a report today highlighting the dramatic fall in the % of income being 'saved' generally, as austerity bites even harder. Maybe the market is responding, trying to attract more funds in a decreasing market?
  • Steve_xx
    Steve_xx Posts: 6,976 Forumite
    Name Dropper Combo Breaker First Post First Anniversary
    schiff wrote: »
    The OP said they were planning another RS shortly which isn't the attitude of a society withdrawing from the fight!

    There is a report today highlighting the dramatic fall in the % of income being 'saved' generally, as austerity bites even harder. Maybe the market is responding, trying to attract more funds in a decreasing market?

    I'm not implying that they are "withdrawing from the fight". But they have, on several occasions, terminated these open-ended type regular saver accounts when it seems that punters are earning nicely from them due to fair sized deposits having accumulated in them.

    However, on this occasion it may well not need to run to the third year, ie if there's a hike in rates then suddenly this account may not be so attractive as it seems today!
  • GreenBitterfly
    GreenBitterfly Posts: 392 Forumite
    First Anniversary First Post
    Thanks for the information about the Leeds Building Society RS. After them closing the Issue 1 and 2 accounts, and given Issue 4 is no longer for sale, I keep expecting to receive a letter about them closing that particular issue.
  • karlie88
    karlie88 Posts: 9,114 Forumite
    First Anniversary Name Dropper First Post
    My Cambridge BS (issue 4) reg saver matured today - funds sent over via FP to my current account. As alluded to previously, they do a check via Equifax beforehand.

    Upcoming launch of Leeds BS reg saver is good timing. May be a busy July, especially if Virgin launch another 2 reg savers...
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • Special_Saver2
    Special_Saver2 Posts: 1,405 Forumite
    Name Dropper First Anniversary First Post
    Hi Folks,

    I cannot see anything that has changed for this weekend's update. I will add the new Leeds BS account after it has launched.

    I will do another update next weekend.

    SS2
    For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...=608697&page=1
  • arsenalboy
    arsenalboy Posts: 448 Forumite
    Name Dropper First Post First Anniversary
    karlie88 wrote: »
    My Cambridge BS (issue 4) reg saver matured today - funds sent over via FP to my current account. As alluded to previously, they do a check via Equifax beforehand.

    Upcoming launch of Leeds BS reg saver is good timing. May be a busy July, especially if Virgin launch another 2 reg savers...

    Did you have to pay for FP?

    I have the same account which matures in a couple of weeks. They have sent me a maturity instruction form which only gives option of cheque?
  • mgarl10024
    mgarl10024 Posts: 643 Forumite
    First Anniversary Combo Breaker
    edited 3 July 2017 at 10:22AM
    arsenalboy wrote: »
    Did you have to pay for FP?

    I have the same account which matures in a couple of weeks. They have sent me a maturity instruction form which only gives option of cheque?

    I had to add a 'nominated account' which required them to do an ID check and possibly see a statement, and then they'd do the FP for free. My account hasn't reached maturity yet, but when it does, I'll see if it works!
  • karlie88
    karlie88 Posts: 9,114 Forumite
    First Anniversary Name Dropper First Post
    arsenalboy wrote: »
    Did you have to pay for FP?

    I have the same account which matures in a couple of weeks. They have sent me a maturity instruction form which only gives option of cheque?

    No fee to send a FP. They were fairly insistent that I send them the form back, but I said that I would like to sort it out over the phone which she graciously did.

    Kept £1 with them for obvious reasons.
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • schiff
    schiff Posts: 20,099 Forumite
    Name Dropper First Post First Anniversary
    This is from the opening posts:

    "Special conditions: To open this account you need to have held a savings account or mortgage with Saffron BS for at least 6 months. All customers can open the account by post. The interest rate falls to 0.05% if the account balance is less than £10. You may only hold one Regular Saver account (includes all issues)."

    I opened this account in January in a branch without having any existing relationship with them. Does this need amending?
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