Regular Savings Accounts: The Best Currently Available List!

isasmurf

Opening it from within your online banking takes 30 seconds. Enter an indicative funding amount, where you want interest paid and that the UK is your only country for tax and your done.

EachPenny

isasmurf wrote: »

Opening it from within your online banking takes 30 seconds. Enter an indicative funding amount, where you want interest paid and that the UK is your only country for tax and your done.

There is a catch that if you select funding from your existing Flexible Saver they will do the transfer automatically for you within the next 3 days... no thanks, I want to do it myself today

There is no way of opting out of the automatic transfer, so I went for the nominated account option and will cross my fingers that doing an internal transfer now won't result in a returned payment. I'll be relying on the word 'indicative' in any subsequent complaint

KTF

schiff wrote: »

Is the Ford RS 4% fixed or variable, I haven't seen it mentioned anywhere?

Fixed. It says so on the product summary page.

EachPenny

YorkshireBoy wrote: »

They both carry effective dates of 1st June 2016 though, which is strange?

I did a quick check of the T&C's and product summary to see if there were any differences to the versions YorkshireBoy found the other day. They look identical, including the dates of 1st June 2016 and November 2016.

Obviously Ford Money were doing some long-term planning last summer

EachPenny

andi2 wrote: »

But the £10 test payment that I sent to the flexible saver at the weekend hasn't yet appeared, so reluctant to throw any more money that way until I know it's getting there. Anyone else had the same? (think I shall give them a call later on).

Nope, my test payment still hasn't landed, but it is still early in the morning. I'll be worried if it isn't there after 3pm

Zanderman

Is it just me or does anyone else think it's odd that they say you can fund between £25 and £250 a month, but that there's no penalty for missing a month entirely?

Being able to miss payments implies that the options are really £0 to £250 per month (but that, for some reason, you can't add between zero and £25).

EachPenny

Zanderman wrote: »

Is it just me or does anyone else think it's odd that they say you can fund between £25 and £250 a month, but that there's no penalty for missing a month entirely?

Being able to miss payments implies that the options are really £0 to £250 per month (but that, for some reason, you can't add between zero and £25).

Yes, I'd noticed that and thought it a bit odd - but not the only slightly odd thing in the T&C's.

I assumed they wanted to avoid a situation where people opened the account intending to save only a very small amount each month, but without inserting a penalty clause that could be very painful for big savers.

Most of the big savers would of course make sure their payments have gone in every month and never miss one... but then Ford Money are the newbies here and perhaps don't realise many of their new customers are 'quasi-professionals'

Edit: Someone in their IT department is probably trying to figure out right now why so many copies of their 'hidden' RS T&C's were downloaded over the weekend.

Westie983

EachPenny wrote: »

Nope, my test payment still hasn't landed, but it is still early in the morning. I'll be worried if it isn't there after 3pm

When I spoke to them just now they said they are not a clearing bank so payments sent on a weekend or bank holiday will be funded the next working day, but payments made today will hit the account today.

You can also just put your application reference and the first three letters of surname if you can't put it all in the reference like me, with a longish surname, then when you are given your account number you replace the application number with your account number, you send all money to the same sort code and account number a holding pot then your account number is used to allocate your payment.

I too am waiting for the payment to hit my flexible saver that I sent on Saturday.

Also I was told that you can only find the ISA version with £250 a month, but you can have more then one as long as you don't fund more then £250 a month.

I did question her a few times on this and she said you can have as many as you want including the non isa version just fund them all with different account numbers.

I'm off to open another regular saver may as well get £500 or £1000 at 4%

Westie983

Rich2808

Zanderman wrote: »

Is it just me or does anyone else think it's odd that they say you can fund between £25 and £250 a month, but that there's no penalty for missing a month entirely?

Being able to miss payments implies that the options are really £0 to £250 per month (but that, for some reason, you can't add between zero and £25).

Its no different to the previous market leader from Saffron BS which doesn't require you to make payments every month.

https://www.saffronbs.co.uk/savings/display.product/?categoryID=1&category=immediate&productID=g2

nbinblack

My weekend payment has hit my flexible saver account now, the new accounts haven't yet made it.