Regular Savings Accounts: The Best Currently Available List!

Eco_Miser

schiff wrote: »

Thank you. I've had mixed results with faster payments initiated on a Sunday, so I will do it on a Saturday if it falls that way.

In that case it may be better to do it on Friday, since both Saturday and Sunday transactions get dated on the following Monday (or Tuesday if the Monday is a bank holiday). Not that I've ever had a faster payment not arrive in seconds, whatever the day.

patientperson

Westie983 wrote: »

I do have a question about anyone who has opened a Buckinghamshire RS.

They said that you can change the amount you fund the account once a year only, I remember entering a sort code and account number on the application form, so will they set up a SO from that account or do I set it up? and whats to stop me setting it up for more then the opening credit?

I opened it up with £50 so I thought they would set up a SO for this amount but nothing showing on my account.

If I have to set up the SO, I will stick with sending cheques, but again whats to stop me funding it with £100 next month.

I cant check the T&C's as they are not online anymore as the account has been pulled.

Im slightly confused, how they control the funding amounts.

I have a 'Simple Regular Saver' since 2013.

Monthly payment Min £10 / Max £250. The monthly payment is to be paid on the same day of the month and the monthly amount can be changed once per year. The new amount will apply until the end of the calendar year.

It is your task to set up a STO but you are permitted to fund by either cash or cheque per month which may be difficult to tick the 'same day of the month' box.

ctdctd

This is the original open ended Regular Saver closed to new investors.

Letter received today - interest reduced from 3.1% to 2.1% from 1st October 2016.

Bah

veryintrigued

ctdctd wrote: »

This is the original open ended Regular Saver closed to new investors.

Letter received today - interest reduced from 3.1% to 2.1% from 1st October 2016.

Bah

Thanks for the heads-up. Less than ideal but I guess its still 0.1% more than their open Regular Saver (issue 2).

I've dug out the paper T&Cs and the monthly contribution minimum is £10 into this original Regular Saver.

I intend to reduce the contribution to £10 and push the remaining £240 elsewhere. i.e. keeping this running and should my other homes get lower than this 2.1% then increase back up again.

May be a help for others.

ratechaser

veryintrigued wrote: »

Thanks for the heads-up. Less than ideal but I guess its still 0.1% more than their open Regular Saver (issue 2).

I've dug out the paper T&Cs and the monthly contribution minimum is £10 into this original Regular Saver.

I intend to reduce the contribution to £10 and push the remaining £240 elsewhere. i.e. keeping this running and should my other homes get lower than this 2.1% then increase back up again.

May be a help for others.

Yep, I got the letter today and was thinking of doing the same. Very annoying as Notts had a decent track record for savings and I'd hoped they wouldn't jump on the bandwagon of cutting rates far more than 0.25%

Bah indeed

qsk

glider3560 wrote: »

Same here!

I withdraw all but £50 about a week before the anniversary date. That means, for the next anniversary year, you get £50 at 0.5% and the remainder at 3.25%. A very good deal.

Thanks for this.
Is £50 the magic number to keep the account open? Can you just leave £1?

glider3560

qsk wrote: »

Thanks for this.
Is £50 the magic number to keep the account open? Can you just leave £1?

According to the factsheet, it is £10 minimum: http://www.ibs.co.uk/images/documents/terms-and-conditions/IHS220_Smart_Save_Monthly_0716.pdf

Not sure where I got £50 from.

pantaiema

How to maintain the monthly payment to be paid on the same day of the month ? Say you pay with cheque for first payment and then set up Standing order for the following month.If the payment due date fall on weekend or bank holiday it willbe move to the following day also it might happen again the following month. How do they actually appy this to this account.

I think the wording of the samedate is a mistake. The bank such as HSBC, FD, M&S state thatthe SO date can not be changed.....

patientperson wrote: »

I have a 'Simple Regular Saver' since 2013.

Monthly payment Min £10 / Max £250. The monthly payment is to be paid on the same day of the month and the monthly amount can be changed once per year. The new amount will apply until the end of the calendar year.

It is your task to set up a STO but you are permitted to fund by either cash or cheque per month which may be difficult to tick the 'same day of the month' box.

Westie983

pantaiema wrote: »

How to maintain the monthly payment to be paid on the same day of the month ? Say you pay with cheque for first payment and then set up Standing order for the following month.If the payment due date fall on weekend or bank holiday it willbe move to the following day also it might happen again the following month. How do they actually appy this to this account.

I think the wording of the samedate is a mistake. The bank such as HSBC, FD, M&S state thatthe SO date can not be changed.....

Thats what I cant understand, as all the first opening credit will be by cheques as this is how the account is opened, I think ill call them on Monday to ask, its very confusing, I want to pay by cheque but cant guarantee it will be the same date each month...

schiff

Westie983 wrote: »

Thats what I cant understand, as all the first opening credit will be by cheques as this is how the account is opened, I think ill call them on Monday to ask, its very confusing, I want to pay by cheque but cant guarantee it will be the same date each month...

I started mine by an online transfer from the current account?