Regular Savings Accounts: The Best Currently Available List!

adindas

pmjenkins wrote: »

Issue 1 pays 5%, issue 2 pays 3%

Is it possible to open the 2% Santander Monthly Saver if you are still having the 5% running??

YorkshireBoy

adindas wrote: »

Is it possible to open the 2% Santander Monthly Saver if you are still having the 5% running??

One person on here has reported being able to open an issue 2 regular esaver paying 3% AER whilst they had the 5% account. However, this was at launch and of course you've no doubt seen this is expressly forbidden now in the T&Cs.

Special_Saver2

Hi Everybody,

I have completed this weekend's update for the first page of this thread.

- West Bromwich BS Children's Fixed Rate Regular Saver (Issue 3) paying 3.6% fixed replaced with issue 4 paying 2.5% (post 4)
- West Bromwich BS Adult's Fixed Rate Regular Saver (Issue 3) paying 3.3% fixed replaced with issue 4 paying 2% (post 4)
- Scottish BS Regular Saver interest rate dropping from 2% to 1.3% from 4th October, post 4)
- Norwich & Peterborough BS Monthly Regular Saver account interest rate dropped from 2% to 1.75% from 2nd September (post 3)
- Leek United BS Regular Savings account interest rate dropping from 2.25% to 2% from 2nd October 2016 according to schiff in post 4272, updated in post 2

Many thanks to the forum users who have provided useful information throughout the week.

I will do another update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...=608697&page=1

schiff

I've started the First Direct 1st account, the Bonus Saver and, a few days later, the Regular Saver. I've made my first £300 transfer (from the current account) to start off the Regular Saver.

After trying to set up a Standing Order (I failed) I finally called First Direct and was told that, having started off the Regular Saver from the current account, it will be automatic for the remaining 11 payments. So I need to regularly feed the current account for that purpose.

I know that some of you keep a minimum sum in the current account (eg £1) so how do you time your depositing Standing Order to ensure the automatic transfers don't miss out, because if they do you finish up overdrawn?

My next payment as it happens is on Saturday October 8th!

johnmoney05

schiff wrote: »

I've started the First Direct 1st account, the Bonus Saver and, a few days later, the Regular Saver. I've made my first £300 transfer (from the current account) to start off the Regular Saver.

After trying to set up a Standing Order (I failed) I finally called First Direct and was told that, having started off the Regular Saver from the current account, it will be automatic for the remaining 11 payments. So I need to regularly feed the current account for that purpose.

I know that some of you keep a minimum sum in the current account (eg £1) so how do you time your depositing Standing Order to ensure the automatic transfers don't miss out, because if they do you finish up overdrawn?

My next payment as it happens is on Saturday October 8th!

That should be 7th October for faster payment!

YorkshireBoy

schiff wrote: »

I know that some of you keep a minimum sum in the current account (eg £1) so how do you time your depositing Standing Order to ensure the automatic transfers don't miss out, because if they do you finish up overdrawn?

My next payment as it happens is on Saturday October 8th!

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.

If you really do want to go the SO route, then maybe increase the O/D facility to £300 or keep a £50 float in there (assuming you've got the £250 interest free facility?).

schiff

Thank you both. I have £50 in the current account but I'd rather not get involved in overdrafts, even if 'safe'. I will go the faster payment route each month

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.