Regular Savings Accounts: The Best Currently Available List!

patientperson

The 'Go for Gold' regular saver will be pulled on Saturday 17th September. I presume at close of business.

A new 'Sportaid' will launch on Monday 19th September. This will be for 3% and a small donation of 0.25% given to Sportaid by the society.

Sorry .. but no further details known at present.

10_66

YorkshireBoy wrote: »

I don't do SOs. I set up a future dated FP immediately after the current month's deposit has been made.

If you're going the SO route you're going to have to look at the whole year ahead and plump for a worst case scenario...and that could be 4-5 days prior depending on weekends and Bank Holidays.

YorkshireBoy, can you clarify for me, please; if you set up a SO to go into a first direct 1st Account for the same date that the SO payment is due to go from the 1st account into the reg saver, is that not as effective as sending a future dated FP to the 1st Account for the same date? I know what I'm trying to say, just not sure if I've explained it properly .

schiff

It should work in theory but if something went wrong with the SO, you would be in real problems. That was my fear and because I don't want to leave £300 in the current account doing nothing, I'm going the faster payment route, and doing it the day before so that I can monitor that it's worked.

YorkshireBoy

10_66 wrote: »

YorkshireBoy, can you clarify for me, please; if you set up a SO to go into a first direct 1st Account for the same date that the SO payment is due to go from the 1st account into the reg saver, is that not as effective as sending a future dated FP to the 1st Account for the same date?

Possibly, right up to the month it fails!

I always fund the working day before.

johnmoney05

10_66 wrote: »

YorkshireBoy, can you clarify for me, please; if you set up a SO to go into a first direct 1st Account for the same date that the SO payment is due to go from the 1st account into the reg saver, is that not as effective as sending a future dated FP to the 1st Account for the same date? I know what I'm trying to say, just not sure if I've explained it properly .

I had one occasion which I set up a SO to go into my nationwide current account for the regular saver account, but it counted the SO went in after the payment to the regular saver, so I was overdrawn for the account! And I was charged for the OD fee. Since then, I only use faster payment to make sure I see the money in the account the day before the SO going out.

schiff

johnmoney05 wrote: »

I had one occasion which I set up a SO to go into my nationwide current account for the regular saver account, but it counted the SO went in after the payment to the regular saver, so I was overdrawn for the account! And I was charged for the OD fee. Since then, I only use faster payment to make sure I see the money in the account the day before the SO going out.

It is safer to arrange the SO (if that's what you want to do) to come from your Nationwide FlexDirect account, so if it goes wrong it comes out of your £2500. It's what I've done.

Edited - to change the description of the current account

schiff

johnmoney05 wrote: »

I had one occasion which I set up a SO to go into my nationwide current account for the regular saver account, but it counted the SO went in after the payment to the regular saver, so I was overdrawn for the account! And I was charged for the OD fee. Since then, I only use faster payment to make sure I see the money in the account the day before the SO going out.

I'm afraid I don't understand this. Do you mean your Nationwide current account was empty at the time?

johnmoney05

schiff wrote: »

I'm afraid I don't understand this. Do you mean your Nationwide current account was empty at the time?

Yes..........

10_66

schiff wrote: »

It is safer to arrange the SO (if that's what you want to do) to come from your Nationwide current account, so if it goes wrong it comes out of your £2500. It's what I've done.

schiff wrote: »

I'm afraid I don't understand this. Do you mean your Nationwide current account was empty at the time?

Unfortunately, it's not always possible to have the £2,500 (5%) if waiting for 12 months to elapse before reapplying for Flex Direct.

schiff

I had incorrectly assumed that a FlexDirect was open, rather than a normal current account