Regular Savings Accounts: The Best Currently Available List!

JamesPond

It only says "regular saver" and all the terms are the same except for the "for a period of three years". On the back the brochure it is dated 29/10/07.

Ive scanned that page. see link below

http://www.flickr.com/photos/23838750@N03/?saved=1

YorkshireBoy

JamesPond wrote: »

It only says "regular saver" and all the terms are the same except for the "for a period of three years". On the back the brochure it is dated 29/10/07.

3 years of saving £500 per month in the regular saver will produce (very nearly) a £20K balance with interest added.

Maybe they haven't banked on savers cutting back deposit values/partially withdrawing to maintain their accounts at this level?

RayWolfe

It's still there. See:
http://www.ybs.co.uk/savings/regular/regular_saver/index.jsp

Bernie87

I set up a Regular Saver account with Yorkshire Building Society following Martin's recommendations, and duly linked it to my Icesave account for maximum return.

Has anyone else done this by direct debit without any problems? It's been a nightmare for me and the DD instruction has paid twice and rejected twice, as the process of setting up DD with a Building Society is not straightforward.

Anyone out there with similar tales to tell?

Special_Saver2

JamesPond wrote: »

It only says "regular saver" and all the terms are the same except for the "for a period of three years". On the back the brochure it is dated 29/10/07.

Ive scanned that page. see link below

http://www.flickr.com/photos/23838750@N03/?saved=1

Hmmm... that is curious. Like you say, there is no 3 year condition on the Regular Saver account on the Yorkshire BS website. Perhaps the marketing people putting together that leaflet got a bit muddled or forgot to delete the account description from the old Monthly Saver account. I would not worry about that leaflet - the account terms and conditions are the important thing and they do not state any 3 year time limit, only the 20,000 pounds limit.

Special_Saver2

Bernie87 wrote: »

I set up a Regular Saver account with Yorkshire Building Society following Martin's recommendations, and duly linked it to my Icesave account for maximum return.

Has anyone else done this by direct debit without any problems? It's been a nightmare for me and the DD instruction has paid twice and rejected twice, as the process of setting up DD with a Building Society is not straightforward.

Anyone out there with similar tales to tell?

Nice idea, but I think only current accounts are meant to have direct debits - savings accounts generally do not accept direct debit instructions. I think you will have to transfer the money from IceSave to your current account and then current account to Yorkshire BS Regular Saver each month. You will lose a fair amount of interest by doing that. You might find it a lot easier (and lose less interest for money in transit) to use a

DeepSporran

Special_Saver2 wrote: »

might find it a lot easier (and lose less interest for money in transit) to use a

To use a what SS2 ?? Don't keep us all in suspense !

oscarhugo

Well, that's what comes of SS2's posting at 20 past 5 in the morning..!

oscarhugo

Special_Saver2 wrote: »

The whole point of opening the regular saver (as far as Lloyds TSB is concerned) is to make you use their current account too. When I opened my current account and regular saver, the person in the branch who was opening it for me pointed out the terms and conditions saying that I had to use their current account as my main current account otherwise they could switch the regular saver to a less favourable account (Guaranteed Tracker - guaranteed to provide a poor rate).

I try and warn people of this in my entry for that account at the beginning of this thread (including a quote of the terms and conditions, as also quoted by knights in the post above). I also say that I have not heard of any moneysavers on this forum reporting that LloydsTSB has ever used that clause against them.

I would certainly advise against closing the current account if you want to keep using the regular saver. At the very least, I would keep 1 pound in the current account. If you want to be absolutely sure that they will keep your account open then follow the terms and conditions and actually use the current account.

I set up a Lloyds Reg.Saver more than a year ago. I had a Lloyds current a/c already in existence (I think -- I have so many!) I think I'd previously opened it for some sort of incentive. I certainly didn't & don't use it as my main current a/c but what I do do is have a regular monthly S/O of 550 quid go into it & then almost immediately 250 goes into the Reg.Saver & the remaining 300 goes back out to my Main Current Account at Coventry BS. LTSB hasn't changed my Reg.Saver to a "less favourable a/c". Yet. (Famous Last Words...)

Special_Saver2

Yes, so far I have not heard of anybody having problems with that clause used against them. If something changes and any of you out there end up having problems, then please post something on this thread so that I can amend my entry on this account in this thread and warn others.

oscarhugo wrote: »

I set up a Lloyds Reg.Saver more than a year ago. I had a Lloyds current a/c already in existence (I think -- I have so many!) I think I'd previously opened it for some sort of incentive. I certainly didn't & don't use it as my main current a/c but what I do do is have a regular monthly S/O of 550 quid go into it & then almost immediately 250 goes into the Reg.Saver & the remaining 300 goes back out to my Main Current Account at Coventry BS. LTSB hasn't changed my Reg.Saver to a "less favourable a/c". Yet. (Famous Last Words...)