Regular Savings Accounts: The Best Currently Available List!

soulsaver

mgarl10024 wrote: »

Phoned up last night and confirmed. Was told it can take 2 working days for the interest to be applied, but in the meantime that I was able to open a new regular saver. Applied with no issues and the account was opened instantly.

My new saver was opened up on the 5th, and so the month operates from the 5th->4th, and all payments had to be by Standing Order. This meant that I could either set up a SO for the 6th each month (and lose a day's interest each time) or could set one up for the 6th, observe it run on the 6th (the next day), and then amend it back to the 5th ready for the second month. However, the advisor said that the easiest way was to set one up for the 5th for 11 payments starting from the second month and request that they put through a manual first payment, which would be allowed under the terms, and would be different from me putting through a first payment which could breach the terms.

I made the first payment by transfer, as I did with Iss2 without problem. Nowhere in the terms says payment must be made by standing order - it says 'can'.
However they imply payment must come from a Santander Current account.
http://www.santander.co.uk/info/savings/regular-esaver

isasmurf

arsenalboy wrote: »

Is there any reason why FirstTrustBank has never been mentioned or included on here, I am puzzled as it is not new?

£500 per month, 2.5%, FSCS protection, can open online, what am I missing?

I am currently down to 2% regular savers so this would be a bonus.

soulsaver wrote: »

Useful info. Thanks. Conditions say they have to be opened in branch.. none outside NI. Just confirmed with their CS.

I like the way how they just reset the regular saver after the first year so you keep contributing without having to open a new account.

Shame its NI only.

EachPenny

Has anyone discovered if you can have more than one regular eSaver with Santander making use of the different issues - in a similar way to each Virgin Money regular issue being treated as a different account type?

The Santander T&C's say "one account per customer", but doesn't specify if this means one of each issue or one Regular eSaver (of any issue).

I've followed this thread with great interest for a long time, but only got round to joining the forum today, so hello to everyone whose advice and tips have been so helpful to me in the past.

soulsaver

EachPenny wrote: »

Has anyone discovered if you can have more than one regular eSaver with Santander making use of the different issues - in a similar way to each Virgin Money regular issue being treated as a different account type?

The Santander T&C's say "one account per customer", but doesn't specify if this means one of each issue or one Regular eSaver (of any issue).

I've followed this thread with great interest for a long time, but only got round to joining the forum today, so hello to everyone whose advice and tips have been so helpful to me in the past.

Welcome aboard...
I've tried on line - it doesn't let me... and I've asked - 'Sorry, no..'
I explore your question with them.. '.. other providers allow 1 per issue..' - 'Sorry, no... not Santander..'

Richchad

We have a Santander Joint 123 curent account, does that mean we can each open a regular esavings account paying in max £200 each per month?

mgarl10024

Richchad wrote: »

We have a Santander Joint 123 curent account, does that mean we can each open a regular esavings account paying in max £200 each per month?

Yes. That's right.

EachPenny

Thanks soulsaver, I suspected that might be the response, but the T&Cs don't make it clear. Shame the online process blocks the application, otherwise I would apply, wait for them to close the second account and then put in a complaint.

Still, they did put the interest rate up on existing issue 4 accounts, so they aren't as bad as some banks and building societies who only seem to know how to reduce rates!

EachPenny

I'm not absolutely sure, but I think there may be two updates needed to the list of accounts.

The Nottingham BS Tigers Regular Saver account has vanished from their website, but is listed in the 'Closed for new applications' section of their interest rate checker.

Likewise, I've been looking for the Monthly Regular Saver on the Chelsea BS website, but the only reference to it seems to be in the 'withdrawn accounts' pdf on their interest rates page. The N&P and Yorkshire BS versions do still appear to be available though, so a bit strange that the Chelsea one would be withdrawn.

Type_45

I guess we can now remove the BoS accounts from our list... got my letter today saying that the interest rate was getting reduced to 2% from June.

2% is better than nothing, of course, but is hardly anything to shout about.

schiff

The £15K that was in Santander at 3% is better in Bank of Scotland even with its eventual 2% than it would be were it still in Santander at 1.5%

£75 per annum better to be exact.