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  • FIRST POST
    • Special_Saver2
    • By Special_Saver2 27th Nov 07, 10:33 PM
    • 1,067Posts
    • 3,402Thanks
    Special_Saver2
    Regular Savings Accounts: The Best Currently Available List!
    • #1
    • 27th Nov 07, 10:33 PM
    Regular Savings Accounts: The Best Currently Available List! 27th Nov 07 at 10:33 PM
    1. Introduction

    Welcome to this thread. I continually edit the first few posts of this thread to keep it up-to-date. This thread is meant to complement Martin Lewis' article which you can read here: Regular Savings Accounts and the accompanying discussion thread Regularly Beat the Best Savings Account Rates Discussion Area

    I am only including accounts where the interest rate is 2.5% or better, or 1.5% if there are particularly favourable terms and conditions (e.g. fixed rate, no maturity date, allow payment of 500 or more per month, or have unlimited withdrawals without penalty).

    I have not included regular saver ISA accounts which you can find in Kazza242's thread here: Mini Cash ISAs: The Best ISAs Currently Available List

    I have included children's regular savers but I would strongly recommend that you read the section about the tax implications
    for interest from children's accounts in Martin's article Best Child Savings.

    If you are not sure whether the best place for your money is in a regular savings account or another type of savings account then look at Martin's article How to Start Saving. If you want to see a worked example of how to use these accounts to save the maximum possible, see the thread What is the Highest Interest Rate You Can Get?

    If you have information about a new regular saver account then please feel free to post a message on this thread or you can write a separate thread and then post a link here. Please try and limit discussion on this thread to regular savings accounts.

    If you want to bookmark a link that allows you to jump straight to the end of this thread then use this: http://forums.moneysavingexpert.com/...8697&page=9999

    If you want to receive automatic alerts when new posts are added to this thread then use the following instructions. Login, go to the top of any page in this thread, click "Thread tools" then click on "Subscribe to this thread" and then select whether you want to be notified as soon as there is a new post (you will receive an e-mail telling you to go to the website for more details) or select daily or weekly updates (you will receive an e-mail daily / weekly with a handy summary of all the new posts).

    You may also be interested in the following threads:
    How can regular savings accounts offer such good interest rates?
    Are Regular Savers still worth it? (Calculations and discussion regarding drip feeding lump sums into regular savings accounts)
    Is there a best time of the month to deposit in Regular Savers?
    Transfers from Barclays to regular savings accounts
    Interest on BACS credits
    Direct Debit Payments
    A-Z of bank/building society sort codes/account nos
    Account opening date and 13th payments

    Websites with useful information include:
    Moneyfacts.co.uk News Page
    Moneyfacts.co.uk Regular Savings Accounts Page
    Moneyfacts.co.uk Children's Savings Accounts Page
    Moneysupermarket.com Regular Savings Accounts Page

    (you need to choose the right hand option on that page to view all regular savings accounts)
    Savings Champion Regular Savings Account Page

    Thanks to Money Savers
    adindas, Afahmaep, alanq, aleph_0, AlwaysLearnin, apt, Archi Bald, Ashen, Baldur, blindman, Bluebirdnick, bob792, bristolleedsfan, Careful_ly, Chadsman, Chaykin, chookie1, chris1, colsten, Cosworth806, ctdctd, Dagobert, DeepSporran, dougz, Ed-1, edda, F4, Fella, Froglet, Frogletina, glider3560, gt94sss2, happy with my lot!!, HardCoreProgrammer, IanIan, IanManc, info addict, InMyDreams, innovate, interest Ted, jdavtz, jimbow25, Jo Blogs, johnmoney05, karlie88, Kazza242, Ken68, KTF, lightbulb2760, LongTermLurker, lr1277, lucky77, mary, midzone, MarkFromMullion, MARTYM8', Milarky, moi, moneylover, Money_Man_Steve, MoneySaverLog, motoko, Mr Pumpendumpen, MRMX9, mrssjs, Nessie23, Newly retired, Nick_C, nicko33, notalk, numbers123, Old Slaphead, opinions4u, oxenryd, parker1982, patientperson, penguine, premierfella, psychic teabag, quinlanmd, RayWolfe, red ant, redcar, Rich2808, SalsaDanca, secret wookie, schiff, shokadelika, Snowman, Speculator, steveteach, steve65e, veryintrigued, ViksB, vinylmusic, Vortigern, weeallen, Westie983, worried3, Willing2Learn, and YorkshireBoy for their contributions (useful posts either directly on this thread or on another thread that I have then incorporated here).

    I have divided up the information here into several different sections. You can therefore easily skip any sections that you are not interested in.

    Unless indicated otherwise, you can only open one of each account.


    I have included a summary of the terms and conditions of each account as these can be complicated with regular savings accounts. I would advise you to look at these terms and conditions to check that the account is suitable for you.

    2. No Time Limit / Account Maturity Date

    The advantage of these accounts is that you can build up a large balance which all earns a high rate of interest. You also avoid the hassle of continually opening and closing accounts and setting up new standing orders for each new account. The terms and conditions are also generally good - they generally allow you to make a penalty-free withdrawal and miss a payment each year. The disadvantage of these accounts is that there is no guarantee that the rate will remain high and often these accounts have a balance limit. If the interest rate drops after 12 months then I include the account in post 4 instead.

    3. Matures After More Than 12 Months

    The interest rate drops significantly after the date specified.

    4. Matures After 12 Months

    These accounts usually offer higher interest rates and they often offer interest rates that are fixed for the full 12 months. The main disadvantage with these accounts is that after 12 months the interest rate usually drops significantly. The terms and conditions can also be quite restrictive, so read them carefully.

    5. Matures After 12 Months, Requires Another Account

    These accounts are similar to the above accounts but they require you to open another account (usually a current account, which often has a funding requirement). They are more hassle than the accounts in section 4 but usually have a higher interest rate in return.

    6. Matures After 12 Months, Requires Another Product (Insurance or Investment)

    These accounts usually also offer a short term, high interest rate but they require you to make a long term investment or take out an insurance product.

    7. Matures After Less Than 12 Months

    These accounts are usually Christmas Saver accounts designed to encourage saving in time for Christmas.

    8. Homebuyer Accounts

    Okay, these accounts will not be of much use to you unless you are going to buy a house but they may be of use to some of you out there.

    9. Best Feeder Accounts

    These are accounts where you can leave a large lump sum and drip feed the money into your regular savers each month. Certain accounts are not listed here as they cannot transfer money directly to regular savings accounts. The accounts listed can do BACS transfers to regular savings accounts directly. Alternatively, if you have an offset mortgage, you might be able to use that as a feeder account but it is only worth doing so if the interest paid (after tax) on the regular saver account is higher than the interest rate on your mortgage account.
    Last edited by Special_Saver2; 27-03-2017 at 12:28 AM.
Page 275
    • Ken68
    • By Ken68 18th May 17, 12:33 PM
    • 6,211 Posts
    • 3,929 Thanks
    Ken68
    Yes Penny ,read that too, the Private Eye article sighting Virgin Money as being the most exposed.
    • veryintrigued
    • By veryintrigued 18th May 17, 5:51 PM
    • 1,917 Posts
    • 1,161 Thanks
    veryintrigued
    The new Ford accounts - MSEs take
    Below is the MSE article on it. I've never heard of a Regular Saver ISA where you're unable to fully subscribe the maximum amount to!

    http://www.moneysavingexpert.com/news/savings/2017/05/car-giant-ford-gears-up-to-launch-market-leading-regular-savings?_ga=2.5136506.812056964.1495125671-1616544961.1482739725
    • eskbanker
    • By eskbanker 18th May 17, 6:28 PM
    • 4,459 Posts
    • 4,193 Thanks
    eskbanker
    I've never heard of a Regular Saver ISA where you're unable to fully subscribe the maximum amount to!
    Originally posted by veryintrigued
    Arguably that's how HTB ISAs work (albeit the monthly contribution cap is HMRC-imposed), but Ford do have a home for the rest:
    It's also worth noting Ford's ISAs are 'split ISAs', meaning you can split your cash ISA allowance (20,000 for 2017/18) between multiple ISAs with the provider, bypassing the usual rule that you can only pay into one cash ISA each tax year. Ford Money's easy-access ISA currently pays 0.9% AER, just behind the top rate of 1.01% AER from the Post Office.
    • isasmurf
    • By isasmurf 19th May 17, 12:37 PM
    • 1,665 Posts
    • 685 Thanks
    isasmurf
    Ford Money
    I've set up one of their other accounts with them.

    They appear to use the Newcastle Strategic Solutions platform (the outsourcing arm of Newcastle Building Society) for their online service. One of the good things about this platform is the ability to set up a recurring transaction so you should be able to set up a recurring monthly transfer from either the flexible saver or the cash isa to the regular savers should you wish to use these as a holding account to feed the regular saver.

    I also spoke to them on the phone and the person I spoke to was very friendly and answered my query without any problem.

    All seems very promising.
    • B_G_B
    • By B_G_B 19th May 17, 1:00 PM
    • 362 Posts
    • 355 Thanks
    B_G_B
    I've set up one of their other accounts with them.
    Originally posted by isasmurf
    Likewise. Easiest and quickest setup I have ever done. Online access, Phone access and account all up and running in about 20 mins.
    • arsenalboy
    • By arsenalboy 19th May 17, 1:51 PM
    • 267 Posts
    • 116 Thanks
    arsenalboy
    Just rang Ford Money and asked about the ISA, the contribution will be restricted to 250 per month, the same as the normal regular saver.

    On Monday an "apply now" button will appear on their website.

    So that is 6K per person i.e., 12K for me and the wife at a good rate, better than a kick in the teeth!
    • ChaskhaChaia
    • By ChaskhaChaia 19th May 17, 4:44 PM
    • 9 Posts
    • 5 Thanks
    ChaskhaChaia
    Does anyone know if it's possible to hold both the ISA and the non ISA version of the Ford Money Regular Saver (assuming that I haven't already subscribed to a cash ISA for the tax year 2017/18). Therefore I could have 4 accounts (two for me and two for my husband)? Or is this wishful thinking?!
    • Steve_xx
    • By Steve_xx 19th May 17, 5:00 PM
    • 6,401 Posts
    • 2,662 Thanks
    Steve_xx
    Does anyone know if it's possible to hold both the ISA and the non ISA version of the Ford Money Regular Saver (assuming that I haven't already subscribed to a cash ISA for the tax year 2017/18). Therefore I could have 4 accounts (two for me and two for my husband)? Or is this wishful thinking?!
    Originally posted by ChaskhaChaia
    I don't know for sure but I think it will be likely that you can hold both.
    • KTF
    • By KTF 19th May 17, 5:23 PM
    • 4,521 Posts
    • 1,839 Thanks
    KTF
    It doesn't launch until Monday. There is also a large banner saying so on their web page.
    • arsenalboy
    • By arsenalboy 19th May 17, 5:44 PM
    • 267 Posts
    • 116 Thanks
    arsenalboy
    I browsed a few minutes ago, I could not see any regular savers product. Any info / link on this will be very much appreciated.
    Originally posted by adindas
    See my post on 5486!
    • Nationwide8
    • By Nationwide8 20th May 17, 9:54 AM
    • 305 Posts
    • 109 Thanks
    Nationwide8
    Am assuming you will only be able to have one Reg Saver ISA paying 4% and not multiples paying 4% ( thinking about the split element )

    *obs would be too good to be true*
    Last edited by Nationwide8; 20-05-2017 at 9:56 AM.
    • adindas
    • By adindas 20th May 17, 12:05 PM
    • 3,085 Posts
    • 1,444 Thanks
    adindas
    Am assuming you will only be able to have one Reg Saver ISA paying 4% and not multiples paying 4% ( thinking about the split element )

    *obs would be too good to be true*
    Originally posted by Nationwide8
    If they allow people to open a multiple accounts with no limit paying 4% they will soon be bankrupt. You will not be able to open multiple RS ISA anyway ...
    Last edited by adindas; 20-05-2017 at 12:08 PM.
    • isasmurf
    • By isasmurf 20th May 17, 12:23 PM
    • 1,665 Posts
    • 685 Thanks
    isasmurf
    If they allow people to open a multiple accounts with no limit paying 4% they will soon be bankrupt. You will not be able to open multiple RS ISA anyway ...
    Originally posted by adindas
    Putting aside the RS terms, Ford operate with multiple accounts in a single ISA wrapper so you wouldn't be breaking any ISA rules by doing so.
    But as you say it would be fool hardy to allow more than 1 of each type
    • castle96
    • By castle96 20th May 17, 12:57 PM
    • 1,536 Posts
    • 250 Thanks
    castle96
    So the maximum input I can have to Ford on Monday is (single person), 1 x RS 400 and 1 x ISA 400 - yes ?
    • Ed-1
    • By Ed-1 20th May 17, 12:59 PM
    • 1,796 Posts
    • 955 Thanks
    Ed-1
    So the maximum input I can have to Ford on Monday is (single person), 1 x RS 400 and 1 x ISA 400 - yes ?
    Originally posted by castle96
    It's 250 not 400. They might restrict it to one of either the ISA or non-ISA version.
    • Nationwide8
    • By Nationwide8 20th May 17, 2:51 PM
    • 305 Posts
    • 109 Thanks
    Nationwide8
    Flexible saver set up,painless really maybe 10-15 mins to put in info.Had to phone with address ques,phone answered within a couple of rings,friendly and efficient.
    Account is up and running after about a hour.

    Just see on Monday if you can have both Reg Saver and ISA Reg Saver or just one.(at a 250 pay in monthly for 12 months )
    Last edited by Nationwide8; 20-05-2017 at 2:57 PM.
    • EachPenny
    • By EachPenny 20th May 17, 3:23 PM
    • 667 Posts
    • 395 Thanks
    EachPenny
    Has anyone who recently opened a Ford Money account paid money into it? I sent a payment last night but it hasn't appeared in my Ford account yet. I wasn't expecting instant transfers, but was hoping it wouldn't take until the next working day to show up either. Just hoping I've not credited someone else's account Although having to add your surname after the account number in the reference field must be asking for trouble - do you leave a space or not, is there a limit to the length of surname, what about accounts in joint names...

    The only issue I had was the account summary page doesn't have a 'print' facility, and using print from the browser's menu produces a print with only part of the displayed information included. For example there is only white space where the account numbers should appear. This is a shame as it is sometimes useful to be able to print the account summary page to have a record of accounts and balances - the only way of doing it with Ford Money appears to be printing off each account on a separate page. (Unless this is a browser specific issue, I use Firefox)
    "In the future, everyone will be rich for 15 minutes"
    • isasmurf
    • By isasmurf 20th May 17, 3:33 PM
    • 1,665 Posts
    • 685 Thanks
    isasmurf
    Has anyone who recently opened a Ford Money account paid money into it? I sent a payment last night but it hasn't appeared in my Ford account yet. I wasn't expecting instant transfers, but was hoping it wouldn't take until the next working day to show up either.
    Originally posted by EachPenny
    Deposits received after 4pm or on a non business day won't show on your account until the next working day, however, interest will still be accrued from when it is received.
    • Zanderman
    • By Zanderman 20th May 17, 3:48 PM
    • 1,140 Posts
    • 3,518 Thanks
    Zanderman
    Has anyone who recently opened a Ford Money account paid money into it? I sent a payment last night but it hasn't appeared in my Ford account yet. I wasn't expecting instant transfers, but was hoping it wouldn't take until the next working day to show up either. Just hoping I've not credited someone else's account Although having to add your surname after the account number in the reference field must be asking for trouble - do you leave a space or not, is there a limit to the length of surname, what about accounts in joint names...

    The only issue I had was the account summary page doesn't have a 'print' facility, and using print from the browser's menu produces a print with only part of the displayed information included. For example there is only white space where the account numbers should appear. This is a shame as it is sometimes useful to be able to print the account summary page to have a record of accounts and balances - the only way of doing it with Ford Money appears to be printing off each account on a separate page. (Unless this is a browser specific issue, I use Firefox)
    Originally posted by EachPenny
    Re paying in, my initial payment into a recently opened Flexible Saver hasn't appeared yet either. Not worried though, I assume it will soon.

    Re the reference plus surname. The initial account confirmation they sent me only suggested pay-ins needed just the reference, no mention of surname (so I didn't give them one when paying in my test fiver). A later email suggested pay-ins needed the ref plus surname, but I assume, from the first communication and from the fact they give no format (spaces etc) for the surname, that just the reference will do. But as my payment hasn't appeared yet I could be wrong...

    Re browser, I had trouble getting past the initial opening screen in Chrome as the Captcha image wouldn't load, even after turning off adblockers and ghostery and refreshing repaetedly. So I switched to Firefox, which worked fine, for that bit at least. Seems they haven't quite got their cross-browser compatibility fully sorted.,
    • EachPenny
    • By EachPenny 20th May 17, 4:38 PM
    • 667 Posts
    • 395 Thanks
    EachPenny
    Thanks isasmurf and Zanderman. I'll just have to be a bit more patient. I was hoping to get 250 transferred and ready to pop straight in to the RS on Monday.

    Re the reference plus surname. The initial account confirmation they sent me only suggested pay-ins needed just the reference, no mention of surname (so I didn't give them one when paying in my test fiver). A later email suggested pay-ins needed the ref plus surname...
    Originally posted by Zanderman
    It was the same with my emails, but I didn't try paying in until after the second one so knew of the apparent need for surname. We'll just have to wait until Monday to know for sure - unless the computer system crashes in the stampede for new accounts

    I was getting odd things appearing on the screen even with Firefox, but a reload on non-critical pages seemed to sort it out.
    "In the future, everyone will be rich for 15 minutes"
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