Regular Savings Accounts: The Best Currently Available List!

AirlieBird

ffacoffipawb wrote: »

However the nice lady who did the transfer and closure of the regular saver said that it will still take 3 - 5 working days for the account to disappear from my account list and I won't be able to open another new account til it does. Hopefully it will still be available at 8%.

If the rate drops to 5% I probably won't bother.

Are you sure I can open one now?

Well, either the nice lady has given you the wrong information or the IT systems have been incorrectly programmed.

As soon as interest is paid the account has matured and you are eligible to apply for a new Regular Saver. If you go to apply for new account within internet banking, you can open a new Regular Saver even though the matured account is still listed in your online banking. There is no need to transfer any money. I can assure you that this is possible as I have done it.

ffacoffipawb

AirlieBird wrote: »

Well, either the nice lady has given you the wrong information or the IT systems have been incorrectly programmed.

As soon as interest is paid the account has matured and you are eligible to apply for a new Regular Saver. If you go to apply for new account within internet banking, you can open a new Regular Saver even though the matured account is still listed in your online banking. There is no need to transfer any money. I can assure you that this is possible as I have done it.

Thank you. Your application is successful and your new account is open.

The £300 initial deposit has also been taken from my 1st account.

They don't train their staff as well as I thought!

10_66

ffacoffipawb wrote: »

...Mine matured yesterday (04/11/2011), and I was unable to do an online transfer out so I rang up and they said the account was frozen for 3 - 5 days and I had to wait for access...

Mine matured on the same day as yours. I was sent a letter a few weeks' ago from FD saying that if I didn't have an everyday esaver account open already, then it would delay the transfer of the funds on maturity, so I opened one and on the 4th rang and requested the funds to be transferred into it. I then transferred the funds from the everyday esaver into my first direct 1st account, and then from there into my LTSB incentive saver for the moment. The FD reg saver was closed the same day and has gone from my accounts when I log in.

ffacoffipawb

10_66 wrote: »

Mine matured on the same day as yours. I was sent a letter a few weeks' ago from FD saying that if I didn't have an everyday esaver account open already, then it would delay the transfer of the funds on maturity, so I opened one and on the 4th rang and requested the funds to be transferred into it. I then transferred the funds from the everyday esaver into my first direct 1st account, and then from there into my LTSB incentive saver for the moment. The FD reg saver was closed the same day and has gone from my accounts when I log in.

I already have one of everyday e-saver accounts. No balance as interest rate is virtually nil.

No matter, I have the money in my current account and £300 has gone into a new 8% account for another year's regular saving!

They need to train their staff better.

Vortigern

ffacoffipawb wrote: »

I already have one of everyday e-saver accounts. No balance as interest rate is virtually nil.

Me too. I leave a few pence in the everyday e-saver just to keep it open and ready to receive matured money from the regular saver.

huw01

Opened one in branch today. That's another £500 squirrelled away.

Then I'll have to wait until December until my first direct regular saver 8% is fully Baked !!

adindas

Same here. 3.25% RSA is not attractive to me as I have eSaver i4 with Santander which give me instant access with 3.1%. It will stay there for a temporarily until it finds a new home.

I will be sending them a letter and that I want to close my saving account and transfer them to my bank a/c.

ADINDAS

SnowMan wrote: »

My 5% regular saver (the account was available in November and December last year) is maturing later this month, as I guess will be the case with others here.

Skipton have sent me a letter to say maturity proceeds go into their Loyalty Saver (easy access account) paying 2.25% AER (rate can be monitored here). I think the loyalty saver is an account they use for maturing bonds and regular savers.

The leaflet for the Loyalty Saver says 'you can withdraw between £1 and £100,000 at any one time from any Skipton branch by cheque'. So that looks the obvious way to extricate the funds and I will on maturity of the regular saver pop into my Skipton branch to withdraw the funds.

The 5% rate was variable but fair play to Skipton they have never reduced it see here

They do mention in their letter their currently available regular saver 3.25%, the rate is not good enough to interest me though.

Skipton in their letter mention their 1 year fixed rate bond as a possibility with the maturity proceeds from the regular saver, but there are better rates elsewhere for anyone wanting a 1 year bond.

On the letter they give gross interest up to maturity date. Have checked mine and it is correct to within £1. For anyone who has paid in the maximum £500 per month (6K total) expect gross interest to be be between about £140 and £180 (depending on when in the month the money was paid in).

adindas

My Scottish BS Regular Bonus Saver reach anniversary on October 12, 2011.

Any info how the interest are likely to get. I am aware I could call them, but just initial info from the forum that I need.

Thanks

adindas

Well done mate.
Another 8% for at least one year ...

ffacoffipawb wrote: »

Thank you. Your application is successful and your new account is open.

The £300 initial deposit has also been taken from my 1st account.

They don't train their staff as well as I thought!

johnmoney05

adindas wrote: »

My Scottish BS Regular Bonus Saver reach anniversary on October 12, 2011.

Any info how the interest are likely to get. I am aware I could call them, but just initial info from the forum that I need.

Thanks

I think you can continue to save. The interest will calculate on the whole balance. But you better check with them, and would be nice to report back. I have saved for 2 years already...