Regular Savings Accounts: The Best Currently Available List!

veryintrigued

schiff wrote: »

This has been discussed before, certainly more than once, and recently*. My RS matures in June so it's handy to know what it could be replaced with, and 3% is one of the better rates.

*eg 4984/4986

With the greatest of respect that discussion you've referenced is about issue 1 and 2.

Hence am grateful Patient Person has fed back specifically with their experiences of the newly launched issue 3.

Special_Saver2

Hi Folks,

Here is this weekend's update.

- Santander Regular eSaver (Issue 2) withdrawan
- Santander Regular eSaver (Issue 3) paying 2.5% without a Santander current account added to post 4, and paying 3% with a Santander current account added to post 5
- Kent Reliance Regular Savings (Issue 2) withdrawn and replaced with Issue 3 paying 3% in post 4

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

YorkshireBoy

Special_Saver2 wrote: »

- Santander Regular eSaver (Issue 3) paying 2.5% without a Santander current account added to post 4, and paying 3% with a Santander current account added to post 5

Hi SS2,

You need to hold a Santander current account to be eligible for both interest rate variants.

To be eligible for the 3% AER account you need to be either a 123 World customer or a Select customer, whereas the Everyday account only gets you 2.5% AER.

fabsaver

Special_Saver2 wrote: »

Hi Folks,

Here is this weekend's update.

- Santander Regular eSaver (Issue 2) withdrawan
- Santander Regular eSaver (Issue 3) paying 2.5% without a Santander current account added to post 4, and paying 3% with a Santander current account added to post 5
- Kent Reliance Regular Savings (Issue 2) withdrawn and replaced with Issue 3 paying 3% in post 4

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

There appears to be some confusion over the new Santander dual rate issue. You must be a Santander current account account customer before you can open the account, even at the lower rate.

To quote from the terms:

To open the account you must be:

a UK resident, maximum one account per customer, account can only be held in single name;
aged 16 or over;
signed up or are going to sign up for Online or Mobile Banking; and
a Santander current account customer, not available to 1|2|3 Mini account in Trust customers.
To be eligible for the higher interest rate you must be a 1|2|3 World or a Santander Select customer at point of opening.

For example an Everyday current account will qualify to open the account but earn the lower rate of interest. A 123 current account will qualify for the higher rate of interest.

fabsaver

YorkshireBoy wrote: »

Hi SS2,

You need to hold a Santander current account to be eligible for both interest rate variants.

To be eligible for the 3% AER account you need to be either a 123 World customer or a Select customer, whereas the Everyday account only gets you 2.5% AER.

Much more eloquently put

Note to self: use less words or learn to type quicker

badger09

fabsaver wrote: »

Much more eloquently put

Note to self: use [STRIKE]less[/STRIKE] fewer words or learn to type quicker

Fixed that for you.

Sorry but I've a bee in my bonnet at the moment:p

soulsaver

fabsaver wrote: »

You must be a Santander current account account customer before you can open the account... even at the lower rate.

And not already hold an issue 2 (or 1, I assume).

Currently you have to apply by phone & when you do they say only one account allowed per customer & it is the same product as issue 2 but with a lowered standard interest rate (issue 2 was 3% for everyone..).

So not like some other banks that deem a different issue to be a different product (Virgin for example).

Their CS said the restriction IS in the T&Cs.. and told me where.. but I'd lost interest (sorry) by then & I couldn't be bothered to read the 28ish pages of fairly small print to locate it..

steve65e

soulsaver wrote: »

Their CS said the restriction IS in the T&Cs.. and told me where.. but I'd lost interest (sorry) by then & I couldn't be bothered to read the 28ish pages of fairly small print to locate it..

They would be wrong then. The t&cs just say "maximum one account per customer", without specifying whether that includes different issues or not. Ambiguous at best, when other providers do differentiate between issues.

Thankyou to those above who have tried to seek clarification from them.

adindas

steve65e wrote: »

They would be wrong then. The t&cs just say "maximum one account per customer", without specifying whether that includes different issues or not. Ambiguous at best, when other providers do differentiate between issues.

Thankyou to those above who have tried to seek clarification from them.

Keep in mind you could only apply over the phone.
It might be ambiguous but they make it clear when you apply over the phone.
You could interpret it whatever you want. By the end of the day they are the party who will make the decision.
This is one of the reasons why I never read the whole t&c. Reading a28ish pages is not worthy at all considering such a tiny gain. Better to read summary and ask for clarifications.

interest_Ted

Although KRBS has withdrawn regular saver issue 2 (3.25%) and put in place regular saver issue 3 paying 3.00%...........they have today given notice to holders of issue 2 that their interest rate will change to 3.00% effective 02 March.

:mad: