Regular Savings Accounts: The Best Currently Available List!

Steve_xx

gt94sss2 wrote: »

Are you able to transfer the 1st payment to the account immediately?

I can't see how to do this - setting up a standing order only seems to be available from tomorrow..

Regards
Sunil

Well just set it to go tomorrow.

Crag30

Correct me if I'm wrong as I've just done this as a TSB Current account holder.
I logged in and applied for the Regular Savings account, clicked the terms and conditions and it opened the account. Above setting up the standing order area, there is a check box to make your first deposit.

Steve_xx

Crag30 wrote: »

Correct me if I'm wrong as I've just done this as a TSB Current account holder.
I logged in and applied for the Regular Savings account, clicked the terms and conditions and it opened the account. Above setting up the standing order area, there is a check box to make your first deposit.

Just set an SO up to it from whichever bank or account you want to feed it with. It needs feeding with between £25 and £250.

saintalan

Archi_Bald wrote: »

Payments must be made by SO. Earliest you can get an SO done (from TSB or other bank) is tomorrow.

Not FD, renewed & paid mine on phone today but maybe it was a direct transaction by agent.

I wish I could have recorded it about 15 mins of boredom compared to TSB was dreadful!

Archi_Bald

If it went straight away, it was most likely a Faster Payment, not an SO.

There has been some discussion with the Lloyds Rep whether they can distinguish between SOs and FPs when the payments come from another bank. The Lloyds Rep said they could, and since the TSB system and terms are basically a clone of the Lloyds ones, I assume TSB can too. The T&Cs say you must pay by SO. I didn't want to risk breaking the T&Cs for the sake of 1 day's interest on £250 (about 3p before tax).

letThemPlay

I have a question about the TSB monthly saver; I was looking through the terms and conditions I noticed that the deposit period is calendar month. Would it be possible to open up an account towards the end of the month paying the first deposit; then change the standing order for the first of the month.

This is born out of curiosity more than anything but would like to hear peoples views on it.

Crag30

letThemPlay wrote: »

I have a question about the TSB monthly saver; I was looking through the terms and conditions I noticed that the deposit period is calendar month. Would it be possible to open up an account towards the end of the month paying the first deposit; then change the standing order for the first of the month.

This is born out of curiosity more than anything but would like to hear peoples views on it.

I didn't see that option. I selected a date of first payment, then selected monthly for the standing order, although there were options on frequency

letThemPlay

It wasn't an option just thinking if you opened it up on the 30th with the first payment for the 31st; as deposit period is calendar month; you could then change the standing order to on the 1st of the month.

Its definitely playing the system as I think with this you could make 13 payments in the year; but I don't see anything in the t&c's that prohibit it.

Archi_Bald

If the possibility of 13 payments really floats your boat, search for the thread on the Club Lloyds Monthly Saver in which this has been discussed extensively.

letThemPlay

I was more curious than anything; I wouldn't do it myself when I get around to opening one; just thought it was an interesting situation. I didn't realise there was a similar situation with the Lloyds regular saver; so I guess that answers my original question.

Thank you guys for your quick responses,