Regular Saver Thread **New and Restarted**

EachPenny

karlie88 wrote: »

I phoned them explaining the situation and the message that's displayed, they asked for a screen shot, they phoned back later and apologised. They offered the difference in the loss of interest had I deposited £3k for 1 year @ 2.3% - so got just over £30.

You should have told them you had expected to deposit £3k per month for the full year

ValiantSon

schiff wrote: »

Have any of the major banks yet introduced this faster clearance of cheques, which would be an encouragement? Santander haven't.

Yes, including, I believe, some branches of Santander. No bank is doing a wholesale overnight introduction. It is being rolled out on a branch by branch basis, so your local Santander may not have yet, but others will. The same is true for other banks. The only way to know is to ask the bank.

Special_Saver2

Hi Everybody,


I am on my way to the airport for a holiday. Trying to do the weekly update using my smartphone is a lot more difficult than I would have guessed so I shall do the next update when I return from holiday.

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page

karlie88

Special_Saver2 wrote: »

I am on my way to the airport for a holiday. Trying to do the weekly update using my smartphone

Dedication.

badger09

Special_Saver2 wrote: »

Hi Everybody,


I am on my way to the airport for a holiday. Trying to do the weekly update using my smartphone is a lot more difficult than I would have guessed so I shall do the next update when I return from holiday.

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page

SS2 takes holidays :eek::eek::eek::eek::eek:

Enjoy, and thanks for all the work on this thread:beer:

Westie983

Special_Saver2 wrote: »

Hi Everybody,


I am on my way to the airport for a holiday. Trying to do the weekly update using my smartphone is a lot more difficult than I would have guessed so I shall do the next update when I return from holiday.

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page

I will keep a good eye on the thread for you.

Have a great holiday

Westie983

JamesRobinson48

My Norwich & Peterborough RS was transferred to the Yorkshire Building Society's online system today, smoothly as far as I can tell. One unexpected bonus of the platform switch: £30 interest has been credited to the account effective today, even though none is contractually due until the anniversary of account opening some months hence!

Now I'll just need to switch my SO payment details from N&P to YBS, and pick up a replacement passbook from any YBS branch.

umpixie

not sure if this is the right place to post (spot the newbie) I'm looking for advice on a feeder account for my kids (both under 11

They have £3k each in savers. they've just got new regular saver accounts--I want the 3k to drip feed into their regular savers at the max of £100pcm but the nice person at the Halifax seemed to think that had to come from my account. That can't be the right or for that matter best, way surely! Its the kids money in their accounts--I don't want to take it our of their account and put it in my account and drip feed it--not least because then all the money they've piled up from grandparents and aunts and uncles over the years looks like its coming from me

grateful for any insight/advice

ValiantSon

umpixie wrote: »

not sure if this is the right place to post (spot the newbie) I'm looking for advice on a feeder account for my kids (both under 11

They have £3k each in savers. they've just got new regular saver accounts--I want the 3k to drip feed into their regular savers at the max of £100pcm but the nice person at the Halifax seemed to think that had to come from my account. That can't be the right or for that matter best, way surely! Its the kids money in their accounts--I don't want to take it our of their account and put it in my account and drip feed it--not least because then all the money they've piled up from grandparents and aunts and uncles over the years looks like its coming from me

grateful for any insight/advice

You're right that it doesn't need to go through your account, and that it really shouldn't: there is a risk of you falling foul of tax law. Unfortunately, a lot of people working in banks don't really know much about the products or the law.

If your children are 11, or over, then the Santander 123 Mini may be a good choice. It pays 3% on balances between £300 and £2,000. If they are under 11 you can still get the same deal with a Santander 123 Mini Account in Trust, but only if you have a Santander current account. If you don't it might be worth opening one (you don't have to use it as your main account if you don't want to). This would give them annual interest of £89.05, when combined with the regular saver.

Alternatively, the HSBC MySavings account pays 2.75% on up to £3,000. Using this account, with the regular saver would earn them £94 in interest. They need to be 7, or older, for this account. With £3,000 each, this is a better option than Santander.

If they aren't old enough for the above accounts, then Halifax Kid's Saver pays 2% on up to £5,000. Combined with the regular saver, they would earn £76 in interest.

schiff

From a branch manager:

'When RS4 matures its likely to transfer into an instant access account….When the final decision has been our Savings department will write to you with the options available'