Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Hi Folks,

I have added the West Brom BS Christmas Saver to the list on the first page of this thread.

I found it amusing that Skipton BS have replaced their Christmas savings account with a New Year's Resolution account. I was wondering last week if any of the banks or building societies would come up with that idea. It is a shame that the account only pays 2.5%.

I will do another update next weekend. Have a great New Year everybody!

SS2

adindas

Sometimes even a branch product we could still apply by post by asking application form from one of their branch to be sent to our address without the need to go into the branch. The complete AF will then be sent back to that branch.

In the past people have successfully tried this with Principality BS branch product. Do not know whether this could work this WestBrom.

Has anyone tried in this way ....?

arsenalboy wrote: »

West Brom have just introduced a reg saver paying 4.25% but can only open in branch.

http://www.westbrom.co.uk/westbrom/savings.product?id=6183&category=92

edda

adindas wrote: »

Sometimes even a branch product we could still apply by post by asking application form from one of their branch to be sent to our address without the need to go into the branch. The complete AF will then be sent back to that branch.

In the past people have successfully tried this with Principality BS branch product. Do not know whether this could work this WestBrom.

Has anyone tried in this way ....?

I tried this with the last West Brom regular saver - at the end of June / start of July.

The person I spoke to at their head office said I must go into the branch to open the account and they couldn't send anything out in the post.

... Of course, it might depend on who you get on the phone - or if you try to ring up a branch directly.

I went into a branch yesterday to try to open the new regular saver - and have had to make an appointment for next week. I've been round this loop before.

steady__eddie

"I went into a branch yesterday to try to open the new regular saver", so did I but I was more successful. I only encountered one small hiccup and that was when I presented my 4.1% Regsave passbook has proof of ID. I was initially told that I couldn't open one because I already held a Regsave a/c., I pointed out that the 4.25% job was a different issue so gimme. A 'phone call to head office confirmed my assertion and they took my cash off me and I reciprocated by taking the passbook off them.
Reading the T + Cs it states, "The Product Pay Rate for this Christmas Regular Saver is 4.25% gross p.a. and is subject to a payment (which includes the opening transaction) being received each calendar month to 31/10/12. Unfortunately it does not state anywhere that payments can be made for November and December 2012.
S_S2 notes on his updated page 1 that the November and December payments can be missed, the implication being that they can be made but where do they say this ?

MoneySaverLog

So I can have both West Brom accounts.

What happens in June when my 4.1% regular saver is up, would I be able to re-open the account after closing it to save into it again? I don't believe the rule is one account over a lifetime, but one account at a time. Not sure however.

Special_Saver2

steady__eddie wrote: »

Reading the T + Cs it states, "The Product Pay Rate for this Christmas Regular Saver is 4.25% gross p.a. and is subject to a payment (which includes the opening transaction) being received each calendar month to 31/10/12. Unfortunately it does not state anywhere that payments can be made for November and December 2012.
S_S2 notes on his updated page 1 that the November and December payments can be missed, the implication being that they can be made but where do they say this ?

On the West Brom Christmas Regular Saver page it states that you can save monthly up to £250 and if you look at the summary box it indicates that the interest rate stated is for 10-12 payments and the maximum balance is £3,000.

MoneySaverLog wrote: »

So I can have both West Brom accounts.

What happens in June when my 4.1% regular saver is up, would I be able to re-open the account after closing it to save into it again? I don't believe the rule is one account over a lifetime, but one account at a time. Not sure however.

I think you are right. It looks like you could close this account down and then open a new one, if this account is still available at the time.

SS2

adindas

Thanks for your info.

In my opinion, It is not worthy just for a very small margin of the difference in interest rate. It is a regular saver anyway, where you could only save a small amount 0f money.

edda wrote: »

I tried this with the last West Brom regular saver - at the end of June / start of July.

The person I spoke to at their head office said I must go into the branch to open the account and they couldn't send anything out in the post.

... Of course, it might depend on who you get on the phone - or if you try to ring up a branch directly.

I went into a branch yesterday to try to open the new regular saver - and have had to make an appointment for next week. I've been round this loop before.

steady__eddie

Many thanks S_S2 for your reply, I had not seen the web page but went into a branch and read a glossy and the format in that is slightly different to the web page. There is no mention of a Tier (£10 - £3000) in that.
Seeing has how I opened it on Saturday (December), I was planning on making 12 monthly payments this year (2012) because no mention is made in the glossy of the maximum number of payments or indeed the maximum amount which can be deposited, merely the minimum duration when monthly payments must be made (from opening to 31/10/12).
If I'm feeling particularly pedantic tomorrow and have 10 minutes to spare, I'll pop into a branch and make a nuisance of myself.

SnowMan

Platinum Monthly Saver (issue 1).

Looks like it is branch only applications (?). Branch locator is here. You can apply by post for the regular saver (issue 6) but that is a different much worse regular saver paying 2.5%.

Save between £100 and £500 per month.

Fixed term to 31/1/2013

Can miss one monthly payment or make one withdrawal before the penal 1% interest rate applies. So looks like you have the option to withdraw funds in an emergency which is good (if you use your 1 withdrawal for this purpose).

http://www.thecheshire.co.uk/investment-saving-account/regular-saver/index.asp

Speculator

Derbyshire and Dunfermline have launched identical a/cs.

SnowMan wrote: »

Platinum Monthly Saver (issue 1).

Looks like it is branch only applications (?). Branch locator is here. You can apply by post for the regular saver (issue 6) but that is a different much worse regular saver paying 2.5%.

Save between £100 and £500 per month.

Fixed term to 31/1/2013

Can miss one monthly payment or make one withdrawal before the penal 1% interest rate applies. So looks like you have the option to withdraw funds in an emergency which is good (if you use your 1 withdrawal for this purpose).

http://www.thecheshire.co.uk/investment-saving-account/regular-saver/index.asp