How many Regular Savings Accounts do you have?

Vortigern

Cotta wrote: »

How sensible or indeed useful is it to have various Regular Savers? I have three with some friends recommending I setup one with M&S

M&S is one of the best, paying 5% AER, so grab it while you can.

... But I see you're considering a S&S ISA. In which case you might have to choose between regular cash savers and regular investments in your ISA.

ozaz

gingercordial wrote: »

I expect the OP had no idea what a complex question they were asking! I'll hazard a guess they were expecting the first distribution, not realising what else they might flush out :rotfl:

That's right! :laugh:
But the realisation came pretty early in the thread...

ozaz wrote: »

:eek: I didn't anticipate so many would have 10+ (the majority selection so far)
Here's me wondering if I can bother with the hassle of going from 3 to 4 :laugh:

Cotta

Vortigern wrote: »

M&S is one of the best, paying 5% AER, so grab it while you can.

... But I see you're considering a S&S ISA. In which case you might have to choose between regular cash savers and regular investments in your ISA.

With the switching bonus and £5 per month it looks like a great option.

Sea_Shell

Actually acquiring an M&S 5% RS is like wading through treacle though...

I applied for the current account about 3 weeks ago, got an email 2 weeks ago saying i'd been accepted and my pack would follow shortly....still not here.

Even once that arrives and i send it back...then they open the account. Then I have to attempt to switch accounts to them....and then once all that's completed....I can then apply for an RS.

I'm losing the will to live!!!!!

greenglide

..... Ignoring the £185 gift card for switching of course, as well as the 5% regular saver.


Of course the £185 isn't instant.

binaryuniverse

Sea_Shell wrote: »

I'm losing the will to live!!!!!

It's just a bank account.

Cotta

greenglide wrote: »

..... Ignoring the £185 gift card for switching of course, as well as the 5% regular saver.


Of course the £185 isn't instant.

£125 now I believe?


Edit - You are also referring to the £5 per month.

EachPenny

Sea_Shell wrote: »

Actually acquiring an M&S 5% RS is like wading through treacle though...

I applied for the current account about 3 weeks ago, got an email 2 weeks ago saying i'd been accepted and my pack would follow shortly....still not here.

It might be one of those accounts where applying in-branch is less hassle.

I lost most of an afternoon (but it was enjoyable at the same time) in a M&S store when I applied for mine, but at least I walked out with an opened and fully operating account (minus the debit card), with all the ID checks, sample signature, switch request etc completed.

The frustrating bit was not being able to apply for the RS account until the switch had been completed - there was no reason why they couldn't have opened it conditional on the switch completing and not being cancelled, but their system wouldn't allow that.

System

Cotta wrote: »

As in setup another RS?

Yes indeed.

surreysaver

JohnRo wrote: »

This is getting starnger and stranger, why would you put anything in a 2.5% RS that can otherwise be earning more interest in a regular deposit account, on an annual basis, that offers something close to half the RS headline interest rate on the whole amount for the whole year.

I went to my 'local' branch of the Yorkshire Building Society today to open up my Issue 2 Regular Saver. The staff member tried using this argument with me that I'd be better off sticking a lump sum in an account paying 1.2% rather than drip feeding into a regular saver paying 2.5%. I told her I had done my sums and that she was wrong, but she was having none of it.
Unfortunately I had a stinking cold with a hangover, so didn't feel up to giving her a maths lesson. I just said 'whatever, can you open my regular saver please'.