Regular Saver Thread **New and Restarted**

abz88

soulsaver wrote: »

This is a regular saver thread; do try to stay on topic.

It is on topic, the Al Rayan account is listed under the Best Feeder Accounts section of this thread. Whether it pays out the listed expected profit and if it will likely reduce this in line with the new offering will affect how much people make from RS when drip feeding is factored in.

abz88

colsten wrote: »

I have always had the predicted profit paid out.

Is it sold as a "fixed" expected profit, or a "variable" expected profit similar to standard savings accounts? Having never had a sharia account before I'm not sure if they have this distinction?

pafpcg

DragonQ wrote: »

I have 1x BoS, 1x Halifax, 1x Lloyds. Didn't know I could have multiple of each!

Ooops! Is there a misunderstanding here?

HBOS allow only one Bank-of-Scotland Regular Saver account and one Halifax Regular Saver account per customer (not multiple accounts of each type), but that's still two simultanteous regular savers.

Similarly, Lloyds Bank allow one Lloyds Regular Saver account and one ClubLloyds Regular Saver account per customer (not multiple accounts of each type), so that's also two simultanteous regular savers.

soulsaver

abz88 wrote: »

It is on topic, the Al Rayan account is listed under the Best Feeder Accounts section of this thread. Whether it pays out the listed expected profit and if it will likely reduce this in line with the new offering will affect how much people make from RS when drip feeding is factored in.

First page:
" If people want to discuss one of the feeder accounts or a maturing account that is no longer on this list, I am happy for people to post something on this thread (as it may be of interest to some of the people who follow this thread), although I would prefer they start a new thread and then post a message on this thread with a link to the new thread".

abz88

soulsaver wrote: »

First page:
" If people want to discuss one of the feeder accounts or a maturing account that is no longer on this list, I am happy for people to post something on this thread (as it may be of interest to some of the people who follow this thread), although I would prefer they start a new thread and then post a message on this thread with a link to the new thread"

If it starts to turn into an in-depth discussion on it I'll start a new thread, however, for a quick query/clarifying point there doesn't appear to be a need to do so.

DragonQ

pafpcg wrote: »

Ooops! Is there a misunderstanding here?

HBOS allow only one Bank-of-Scotland Regular Saver account and one Halifax Regular Saver account per customer (not multiple accounts of each type), but that's still two simultanteous regular savers.

Similarly, Lloyds Bank allow one Lloyds Regular Saver account and one ClubLloyds Regular Saver account per customer (not multiple accounts of each type), so that's also two simultanteous regular savers.

Ah, I see what you mean. I have all four so that's me done.

Kazza242

I received a letter from Chorley Building Society today to notify me that my Loyalty Santa Saver account, paying 2.50% is due to mature on 31st October 2019.

They are launching a new regular saver account, called Loyalty Seasonal Saver (issue 1), paying 2.50% which will be available from 1st November 2019:

- Pay in up to £350 per month.

- No withdrawals allowed prior to maturity.

- The account matures on 31st October 2020.

- The account has a variable interest rate.

- The account is managed by post or branch only.

- The account is open to existing Chorley building society members only, who have held an account with them for at least 12 months prior to the opening of this product.

For new customers, they are launching Seasonal Saver. I suspect that they will only be allowed to pay in £250 per month.

george4064

SuperHans1 wrote: »

I opened a Coventry RS yesterday as a brand new customer. Electronic checks must of been carried out as I was given an account number and sort code with which to make the first deposit. Now waiting for my login details to be sent in the post.

Lucky you. I used to have a Coventry BS account but closed it a while back, my login details did not work.

Applied online and had to be sent an application form which included identification checks. Bit frustrating but hopefully they open soon after receiving the requested documents in the post.

schiff

The conditions seem to emphasise 'by one standing order'.

Does this mean that they are like HSBC/First Direct/M&S Bank and Santander with a fixed date that may not be the FOTM? And does it mean that once set the amount of the standing order can't be changed?

TIA

schiff

What happens to this when you start to have no Bank of Scotland current account?

TIA