Regular Saver Thread **New and Restarted**

YorkshireBoy

Nuggy96 wrote: »

The answer is probably some where on this thread...

The answer is in the summary box of the product you just opened...

https://www.coventrybuildingsociety.co.uk/consumer/product/savings/regular_saver/regular-saver-2.html

Dark blue section entitled "How to put money in your account"...

Each month you can pay in as many times as you like, up to a maximum of £500. Your month starts on the day you opened the account. For example, if you opened the account on 25 January you’d have from 25 January to 24 February to pay in your first month’s allowance. Your second month would start on 25 February.

tomh1993

Hi all,

I'm looking to open a regular savings account with Coventry Building Society. I currently have an easy access cash isa with them that is paying interest at 1.4%. As I don't think it's possible to drip feed the regular savings account via the isa, should I withdraw the £500 pm from this isa to my bank account to then deposit it into the savings account or leave it in the isa?

TIA

polymaff

tomh1993 wrote: »

Hi all,

I'm looking to open a regular savings account with Coventry Building Society. I currently have an easy access cash isa with them that is paying interest at 1.4%. As I don't think it's possible to drip feed the regular savings account via the isa, should I withdraw the £500 pm from this isa to my bank account to then deposit it into the savings account or leave it in the isa?

TIA

Call the Coventry - get the answer from the horse's mouth...;)


It is an 0800 call, too...:rotfl:

tomh1993

Ok will give them a call later. But I was more thinking about the tax status as Martin always suggests to transfer money that's already in an ISA rather than withdraw it and re-deposit it

pafpcg

tomh1993 wrote: »

But I was more thinking about the tax status as Martin always suggests to transfer money that's already in an ISA rather than withdraw it and re-deposit it

The Coventry Regular Saver is NOT an ISA, so any money transferred from your current Coventry ISA to the regular saver will lose its ISA status.

SuperHans1

Virgin Money Regular E-Saver Issue 14 finally released but at a miserly 2% interest again.

1882

Miserly? Maybe not if the Bank of England reduce the base rate soon as has been mooted.

sausageelza

SuperHans1 wrote: »

Virgin Money Regular E-Saver Issue 14 finally released but at a miserly 2% interest again.

Thank you for this, I've just opened one.

xylophone

Virgin Money Regular E-Saver Issue 14 finally released but at a miserly 2% interest again.

I've opened one and will reinvest today's branch saver maturity proceeds in it.

where_are_we

"miserly 2%" - interest rates are in a downward spiral - 2% is good! - higher than inflation and it is Fixed for a year so no need to worry about the inevitable drop in interest rates that other accounts are experiencing. Plus you can get 14 monthly payments in if you are quick. The trick is to regularly open a new e saver each time a new issue comes out so that you have a continuous maturity every couple of months and then plough your money back in . This way you avoid the time consuming business of starting a regular saver with each new provider.