Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

tiptoe_mouse wrote: »

I'm a bit concerned about this. I'm sure this clause wasn't there when I opened my LLoyds TSB regular saver. I'm pretty sure they've not notified me of a change in terms and conditions. Does this mean I'm not bound by this clause? I've just got a tenner in my current account.

tiptoe

I opened my Lloyds TSB regular savings account at the end of June 2006 and it was a condition then - they gave me a printed out copy of the terms and conditions when I signed up. I don't think you should get too worried about it - to date nobody on this forum has reported having that clause used against them.

Speculator, thanks a lot for the info, I have now updated my entries at the beginning of the thread with the new rates for those accounts.

tiptoe_mouse

Special_Saver2 wrote: »

I opened my Lloyds TSB regular savings account at the end of June 2006 and it was a condition then - they gave me a printed out copy of the terms and conditions when I signed up. I don't think you should get too worried about it - to date nobody on this forum has reported having that clause used against them.

Speculator, thanks a lot for the info, I have now updated my entries at the beginning of the thread with the new rates for those accounts.

I've just got out my copy of the "Monthly Saver - Product Specific Terms and Conditions" (labelled "Version 4 - 31st May 2005", although I didn't open my account until June 2007). I can't find any mention of this clause. I'm wondering whether they gave me an old version of the T&C's. I've signed and dated it, so assume this one is binding?

Still confused and worried,

tiptoe

ukdutypaid

tiptoe_mouse wrote: »

I'm a bit concerned about this. I'm sure this clause wasn't there when I opened my LLoyds TSB regular saver. I'm pretty sure they've not notified me of a change in terms and conditions. Does this mean I'm not bound by this clause? I've just got a tenner in my current account.

tiptoe

All you need to do with the Lloyds thing is set up your standing order so that it pays into the C/A every month, instead of into the Saver account.
With a similar S/O on the C/A, for the same day to the Saver Account.. It's job done as far as I can see. The C/A will show up as funded by 250 every month, with a regular S/O transaction on it.. I do the same with my HSBC account, for their Regular Saver.

a_count

Hi,
This is my first post so hope I'm doing it right - apologies if this ends up in the wrong thread!
I can save over £500 a month but most regular savings accounts don't seem to allow more than £250. Can anyone advise me about an account which I can pay £500 or more into each month; pays good rates and has few penalties such as missing a payment or making a withdrawal - I do need reasonable access to the money in case of an emergency etc.

Many thanks

bristolleedsfan

a_count wrote: »

Hi,
This is my first post so hope I'm doing it right - apologies if this ends up in the wrong thread!
I can save over £500 a month but most regular savings accounts don't seem to allow more than £250. Can anyone advise me about an account which I can pay £500 or more into each month; pays good rates and has few penalties such as missing a payment or making a withdrawal - I do need reasonable access to the money in case of an emergency etc.

Many thanks

http://www.ybs.co.uk/savings/interest_rates/regularsaver.jsp

http://www.ybs.co.uk/savings/regular/regular_saver/index.jsp


Or for max 12 months saving

West Bromwich BS Magic 8

Interest rate: 7.6% gross p.a. variable from February 2008 (was 7.85% from 16th December 2007)
Monthly payment: £20-1,000
Miss any payments: No
Penalty-free withdrawals: Two per year
How to open account: Branch (but in this thread mary reports being able to apply for an account by post via a branch)
Special conditions: The interest rate will track any changes in the Bank of England base rate. On the anniversary of account opening the account will revert to Base Rate Tracker account (Bank base rate minus 0.25%) terms and conditions. Interest will be paid annually on 1st April and the conditional bonus of 2.60% will be paid on the anniversary of account opening. Details above from moneysupermarket.com. The details of when the interest is paid may not be correct, see posts 79 and 80 of this thread for more details. Payments from Egg Savings take only one working day, perhaps because they use HSBC for their payments. If you use HSBC, you may wish to check how long it takes and make sure your payments do not arrive in the account before the first of the month. Note also that several moneysavers have reported that BACS transfers made to this account have arrived sooner than expected (which may cause you to then break the terms and conditions if you accidentally make two payments in the same month). See this thread for details.

Special_Saver2

Hi everybody,

I am finally home (having spent a lot of February travelling). For the next 6 months, I might only be able to access the internet on Saturdays so apologies in advance if the updates on this thread are a little slow.

I have checked all the interest rates and updated as follows:
1. The following accounts are now also down 0.25% - Yorkshire BS (according to moneyfacts.co.uk), Scarborough BS, Nationwide BS, Loughborough BS (according to moneysupermarket.com), Coventry First
2. The following accounts down 0.3% - Monmouthshire BS Saver Plus and Monmouthshire BS Christmas Saver

Next week, I will review all the rates again and might remove some of the accounts (e.g. both Monmouthshire accounts have pretty bad rates and can be beaten by some of the no strings savings accounts).

Now, as for the Lloyds TSB account...

tiptoe_mouse wrote: »

I've just got out my copy of the "Monthly Saver - Product Specific Terms and Conditions" (labelled "Version 4 - 31st May 2005", although I didn't open my account until June 2007). I can't find any mention of this clause. I'm wondering whether they gave me an old version of the T&C's. I've signed and dated it, so assume this one is binding?

Still confused and worried,

tiptoe

I am now looking at my terms and conditions document. It is also marked "Version 4 - 31st May 2005" and under Monthly Saver, the second bullet point says:
...have your main current account with Lloyds TSB. Your main current account is the current account you use most often for your everyday banking. If you don't use your LTSB current account we can convert your Monthly Saver to a Guaranteed Tracker (or similar account if that account is no longer available)

ED

Thanks, Special_Saver2, for squeezing in time for this - shame on building societies dropping rates more than 0.25%. I've already complained re December's base rate drop provoking excessive squeeze on rates paid by specific accounts offered by : Bath BS (Regular Saver [first version]) - Chelsea BS 'ClicknSave 30) - Manchester BS (Money By Mail 90 Monthly) - Norwich & Peterborough BS (NetMaster Gold Saver) - Scarborough BS (My Savings) + Halifax Bank (WebSaver without card). Perhaps the more account holders who email the Chief Executive complaining about drops greater than 0.25%, the greater the chance the Society will adjust with greater fairness next time... Anyone here complained in writing? If so, what reaction?

tiptoe_mouse

Special_Saver2 wrote: »

Now, as for the Lloyds TSB account...



I am now looking at my terms and conditions document. It is also marked "Version 4 - 31st May 2005" and under Monthly Saver, the second bullet point says:
...have your main current account with Lloyds TSB. Your main current account is the current account you use most often for your everyday banking. If you don't use your LTSB current account we can convert your Monthly Saver to a Guaranteed Tracker (or similar account if that account is no longer available)

I've just looked at mine again. My second bullet point says:
...have a current account with Lloyds TSB.

I've read and re-read the Monthly Saver - Product Specific Terms and Conditions and still there's no mention of having it as your main account. Curiouser and curiouser!

tiptoe

bristolleedsfan

ED wrote: »

Thanks, Special_Saver2, for squeezing in time for this - shame on building societies dropping rates more than 0.25%. I've already complained re December's base rate drop provoking excessive squeeze on rates paid by specific accounts offered by : Bath BS (Regular Saver [first version]) - Chelsea BS 'ClicknSave 30) - Manchester BS (Money By Mail 90 Monthly) - Norwich & Peterborough BS (NetMaster Gold Saver) - Scarborough BS (My Savings) + Halifax Bank (WebSaver without card). Perhaps the more account holders who email the Chief Executive complaining about drops greater than 0.25%, the greater the chance the Society will adjust with greater fairness next time... Anyone here complained in writing? If so, what reaction?

To be fair ED a lot of the highest paying Regular Saver/other accounts were launched at loss leading rates so unless their was a guarantee stating that the account would either only move in line with base rate changes or would remain a certain % above base rate their is actually no link between some of these accounts and Base Rates.

A number of providers increased certain account rates last year even when Base Rates remained unchanged.

Save me posting in 2 diff sections, RE: Principality E-Saver 0.30% decrease u might like to note ED that following Decembers Base Rate decrease, Principality didnt reduce its E-saver rate at all and following February Base Rate Decrease Principality only reduced its E-ISA rate by 0.05%.

Id be interested ED in knowing if uve taken any Chief Executives to task for not implementing 2.4.6 or 2.6.6 as applicable since 1 December 2007.

Principality appear to have "backdated" the info on their webpage since i contacted them re this.

Westbromwich Building Society delayed implemtation until 18th February 2008

KRBS appear to not have moved at all on the issue despite me taking it up with KRBS C.O.E.

noh

tiptoe_mouse wrote: »

I've just looked at mine again. My second bullet point says:
...have a current account with Lloyds TSB.

I've read and re-read the Monthly Saver - Product Specific Terms and Conditions and still there's no mention of having it as your main account. Curiouser and curiouser!

tiptoe

Mine is the same. Version 4 31st May 2005
Second bullet point .."have a current account with Lloyds TSB". I opened the account in September 2007.
The requirement for it to be a main current account has only recently appeared in the T+Cs on their web site.

Nigel