Regular Savings Accounts: The Best Currently Available List!

EachPenny

mhoc wrote: »

So does this mean that you can start off with £5000 but each month do a £100 withdrawal and then put it back in again via standing order on the same day, so each month you get the full 1.5% interest?

As per ctdctd's post it has to be a drip feed of £100 per month. So the only circumstances where the account is really of value is if you've already got the better paying account options fully funded and have money left over in accounts paying less than 1.5%.

Assuming you meet the T&C's the first £5000 in the account will earn 1.5%, so this beats most other instant access accounts which are in the range 0.5% (or less) to 1.05%. If you pay in a further £100 the following month this will only earn 1%, but is still better than most instant access accounts. You can look on it as the equivalent of earning just under 1.5% on £5100.

My plan is to continue adding the £100 monthly payments until my 1.05% account is drained. Then take everything out of the Savings Builder account and waiting a month before putting the original £5000 back in. Obviously that assumes by then the 1.5% is still an attractive rate compared to elsewhere.

Make sure you fully understand the T&C's as they are not very straightforward.

Yorkshire_Pud

schiff wrote: »

I wonder if this could be useful? Updated.

Online Accounts:

Regular E-Saver, matures 20/10/17
Regular E-Saver Issue 2, matures 20/12/17
Regular E-Saver Issue 3, matures 20/2/18
Matchday Regular E-Saver, matures 20/3/18
Regular E-Saver Issue 4, matures 20/4/18
Regular E-Saver Issue 5, matures 20/6/18

Store based Accounts:

Regular Saver, matures 1/12/17, interest credited on 31/10/17 and at maturity.
Regular Saver 2, matures 1/2/18, interest credited on 31/10/17 and at maturity.
Matchday Saver Issue 1, matures 1/3/18.
Regular Saver 3, matures 1/4/18.
Regular Saver 4, matures 1/6/18

I have a couple of online Virgin savers and have the opportunity to visit a store this week. Will I need to bring ID and proof of address as if I was a new customer or will having online accounts serve this purpose please?

margf

Yorkshire_Pud wrote: »

I have a couple of online Virgin savers and have the opportunity to visit a store this week. Will I need to bring ID and proof of address as if I was a new customer or will having online accounts serve this purpose please?

You will need to bring ID and proof of address as if you were a new customer, I did

EachPenny

Yorkshire_Pud wrote: »

I have a couple of online Virgin savers and have the opportunity to visit a store this week. Will I need to bring ID and proof of address as if I was a new customer or will having online accounts serve this purpose please?

As margf says, take your documents because they may want to see them. Virgin has separate computer systems for online and store customers, although there appears to be some visibility of online accounts on the store's staff computers. However, there is no certainty they will be able to see your online accounts to verify your identity.

Also be prepared to argue with them that it is possible to have both the online and in-store versions. I've not had a problem myself, but some people have reported issues, a phone call to head office will probably resolve any doubt

keyboardworrier

Ford have announced a new regular saver open to all paying 4% on a max of £250 PM. Open from 22nd May

Chrisv

keyboardworrier wrote: »

Ford have announced a new regular saver open to all paying 4% on a max of £250 PM. Open from 22nd May

Challenger bank, Ford Money, has added a new regular saver and regular Isa saver to its line up, both paying four per cent.
http://www.thisismoney.co.uk/money/saving/article-4510644/Ford-Money-launches-best-buy-4-cent-regular-saver.html

[Deleted User]

Chrisv wrote: »

Challenger bank, Ford Money, has added a new regular saver and regular Isa saver to its line up, both paying four per cent.
http://www.thisismoney.co.uk/money/saving/article-4510644/Ford-Money-launches-best-buy-4-cent-regular-saver.html

I'm surmising you'll need to set up a direct debit to pay the money in?

Bingo! I've just done the double.

ColdIron

Deleted_User wrote: »

I'm surmising you'll need to set up a direct debit to pay the money in?

I very much doubt it. You would probably want to set up a standing order from one of your existing accounts for ease but since there doesn't seem to be a requirement for a linked Ford account it'll be up to you

Hal17

Deleted_User wrote: »

I'm surmising you'll need to set up a direct debit to pay the money in?

Bingo! I've just done the double.

Have you opened an account? Just looked on their web site and there is nothing mentioned regarding these two new accounts?

Ok - just seen it launches 22nd May.

eskbanker

Deleted_User wrote: »

I'm surmising you'll need to set up a direct debit to pay the money in?

Bingo! I've just done the double.

No idea what your second line is all about (some sort of joke going way over my head perhaps) but if your first line was intended in a non-facetious way then no, deposits and withdrawals to/from their existing savings accounts are by faster payments rather than direct debits so it would be unlikely they'd introduce DDs for these ones.