Regular Savings Accounts: The Best Currently Available List!

LittleVoice

This was a reply to a question regarding a question regarding Abbey's regular saver.

Purple_Peril wrote: »

. . .
2. I asked this question between setting up my account and the first SO payment as was told that I could before the first payment, but all the other payments had to be for the same amount as the first payment - so I managed to increase mine

Yet another instance of Abbey staff not knowing the terms of the accounts on offer.

JamesPond

moneylover wrote: »

Leek United reg saver has bitten the dust (according to e-moneyfacts) wef 20th March.

Dont talk to me about Leek United, Im having a few problems with them at the moment.

My regular saver account matured on the 22nd of March. I sent them a letter on the 5th March with instructions to transfer £100 from the old account once it has matured to open a new regular saver account and transfer the balance to my nominated bank account.

I received a phone call from them on 25th March saying they normally process all the transfer the day before it matures, but as the 21st March was a bank holiday this was not done and for some reason the whole balance has been transferred to my nominated account, and can I send them a cheque to open the new regular saver account.

Also they said the BACS payment was processed on the 25th and I should receive the funds within 3 working days. I am still waiting.

Speculator

When my Regular matured, they transferred it to the wrong a/c number.

They some how mistyped my Nationwide current a/c no. but luckily, I got in touch with Nationwide to redirect the money to my a/c before they returned the money back to sender.

It may be worth phoning Leek and asking them to confirm the account number that they transferred the money to. If you've not received your money within three working days, then it's likely that they've mistyped the account number.

JamesPond

Thats exactly what they have done, someone needs to teach them to read.

Special_Saver2

I have added some extra details to the Halifax regular savings account for people who are opening one for the first time and have thrown in a link to a separate thread about 13th payments which is relevant to people who have one already.

Otherwise, nothing else to add for this week's update.

nicko33

JamesPond wrote: »

Dont talk to me about Leek United.

I opened a Reg Saver with them in a branch. For some reason they couldn't give me a passbook at the time, but they gave me a standing order form with the Roll No written on to it for me to give to my bank.

A few days later my passbook arrives in the post.

I set up my standing order, and 2 months later they send me a letter saying "you are making payments to the wrong account number, can you fix this please, because we are having to manually correct it each month"

Turns out they opened my account with a different number to the one they put on my standing order form.

gt94sss2

First Direct seem to have introduced a new regular saver, in addition to their standard 8% one.

This one pays 7% and is only available within an ISA.

Also, HSBC seem to have stopped selling their 8% Regular Saver account and their interest rate section now lists it under 'Products no longer Sold'.

However, the same interest rate section indicates that the 10% Regular Saver account for Premier, Plus and Passport customers is still available though I can't find it anywhere else on their website.

Regards
Sunil

mary

According to Emoneyfacts West Bromwich will be dropping its Magic 8 rate to 7.35% on 14 April.
https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=169693

Milarky

Thanks Mary,

Did you get the letter they sent out recently clarifying the previous rates changes?

Just for the record (and to assist in future interest paid calculations) The Magic8 has had the following rates:

From.......................Rate
Opening..................8.10
10/12/07.................7.85
11/2/08..................7.60
14/4/08..................7.35

chris1

Special_Saver2 wrote: »

Scarborough BS My Savings
Interest rate: 6.25% gross p.a.variable from 1st March 2008 (updated, was 6.5% from 1st January 2008)
Monthly payment: £10-250
Special conditions: Limit of £15,000 (but you can always slow down your contributions when you are getting close to this)

The Scarborough website has what looks to be the same account but with £300 monthly limit and £18,000 max.

Does anyone know if this is a new version for 'new customers only' or whether existing accounts can increase their monthly contribution?

(I've looked on the website but couldn't find an answer and emailed them but have not received a reply.)