Barclays Regular Saver

The_Fat_el_Hombre

Evening ladies and gentlemen

I'm going to open a regular savers account as I've filled my ISA for this current year (got another regular saver that matures soon and I'll stick the money form that in next years ISA). I was reading the article about regular savers on this site and see that the Barclays account is currently the highest at 6% but you have to go into a branch to open an account (if you're a new customer, which I am to Barclays). I can't really be bothered with that so was wondering if I can open a current account online and then open a RS account from that, is that possible?

Thanks in advance

rb10

Barclays does have the highest-paying regular saver account, but if you will be able to pay in over £250 per month and not withdraw for the year, you may be able to get more interest on Halifax's regular saver.

Although this pays 5%, as you'll be able to get more money in the account (up to £500/month), you could end up with more interest at the end of the year. (Although there's nothing to stop you from opening both!)

atypical

Yes you can open a current account online and then apply for the regular saver, though I'd question whether that is less effort than going to a branch. It would certainly take longer.

Note you can't miss payments on the Halifax regular saver. So if you have less than £6,000 to save you'd have to spread it across the year which could make the Barclays account the more rewarding.

The_Fat_el_Hombre

rb10 wrote: »

Barclays does have the highest-paying regular saver account, but if you will be able to pay in over £250 per month and not withdraw for the year, you may be able to get more interest on Halifax's regular saver.

Although this pays 5%, as you'll be able to get more money in the account (up to £500/month), you could end up with more interest at the end of the year. (Although there's nothing to stop you from opening both!)

Hmmm food for thought.

Thanks for the info guys

opinions4u

atypical wrote: »

Note you can't miss payments on the Halifax regular saver.

No, but you can reduce your standing order down to £25 and then increase it again up to the £500 limit as suits.

atypical

Yes, what I meant was if you had a lump sum of say £1000 you could have it all into the Barclays account within 4 months with it all earning 6% (AER) from then on.

Whereas you'd have to strategically spread it across the year with Halifax which would most likely work out with you getting less interest. I think I'm right in saying that.

geepster

Chlamydia wrote: »

Hmmm food for thought.

Thanks for the info guys

The Barclays account pays 5.84% gross as it pays monthly. I went into my local Barclays, as I would be a new customer, and just wanted to pick up an application form but had to speak to an advisor to open the account and she said I would need to make an appointment as I would need to take proof of identity etc. She also said she would like to go through the details of what else they could offer such as house insurance etc.
I really don't need that kind of advice but just wanted to open the savings account without any fuss so will probably pass up on Barclays and open one on-line with the Halifax.
I've already opened one with The Principality Building Society which looks ok.;)

rb10

geepster wrote: »

I really don't need that kind of advice

For 'advice' read 'sales pitch'.

fullstop

geepster wrote: »

The Barclays account pays 5.84% gross as it pays monthly. I went into my local Barclays, as I would be a new customer, and just wanted to pick up an application form but had to speak to an advisor to open the account and she said I would need to make an appointment as I would need to take proof of identity etc. She also said she would like to go through the details of what else they could offer such as house insurance etc.
I really don't need that kind of advice but just wanted to open the savings account without any fuss so will probably pass up on Barclays and open one on-line with the Halifax.
I've already opened one with The Principality Building Society which looks ok.;)

I was lucky when I opened my Barclays Monthly Saver, as a non Barclays customer I came prepared with utility bills and passport, cheque book. Did not need an appointment all sorted out in about 20 minutes and no selling, all I was asked was would I like to open a current with Barclays to keep an eye on the account on-line. Did not take up his kind offer.

Richard_Cocks

If you take along the details you need, and go in with a serious look about you they don't try to give you much sales hassle. Just sound like you know what you're doing and they'll tend to leave you alone!

The_Fat_el_Hombre

What info will I need? I thought I might just need some form of ID as I plan on just making a standing order to it from my NatWest current account (like I do with my current regular saver)