Regular saving account

colsten

Rich2808 wrote: »

I
The advice here is right for most - but not always.

Glad we could clarify that. It would have helped if you had initially told people that you are only looking at a 3.05% RS because you had maxed the 5% and 6% ones and are unable to get the 4% one.

As you say, most people won't have a need, or the ability, to put more than £1,950 a month into regular savers. I could personally do it but I can be fussed with post- or Branch- only accounts as a matter of principle. I'll put my surplus into S&S instead.

YorkshireBoy

colsten wrote: »

AFAIK, it's only the "HSBC" RSs that must be funded from their own current account: FD, M&S and HSBC themselves.

The new Santander Regular eSaver has to be fed (by SO) from a Santander current account IIRC.

colsten

Good point, YB. Santa as well.

darkidoe

colsten wrote: »

You can't but you can do what you and I do: SO £300 into the FD current account from an interest-earning account, on the day the SO from the FD current account to the FD RS is due. Apologies if I caused any confusion.

AFAIK, it's only the "HSBC" RSs that must be funded from their own current account: FD, M&S and HSBC themselves.

Ahh I see. Thought I was missing out some trick or something. :rotfl:

Rich2808

colsten wrote: »

Glad we could clarify that. It would have helped if you had initially told people that you are only looking at a 3.05% RS because you had maxed the 5% and 6% ones and are unable to get the 4% one.

As you say, most people won't have a need, or the ability, to put more than £1,950 a month into regular savers. I could personally do it but I can be fussed with post- or Branch- only accounts as a matter of principle. I'll put my surplus into S&S instead.

You still ignore the point that these are 12 month fixed term accounts - yes you get 6 per cent but then it gets closed. And you need a current account with each bank - and M&S and First Direct in particular are quite choosy. The Leeds account pays 3 per cent ongoing on the entire built up balance. And as I pointed out - which you ignore - not every one is able to open multiple current accounts as they are credit scored. Anyone can open the Leeds account.

Perhaps rather then sniping at me you might wish to recognise that one size fits all advice isn't always right for everyone.