Regular Savings Accounts: The Best Currently Available List!

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.

badger09

Opened both the RS & RS 10 minutes ago. No account numbers yet and not yet appearing online:mad:

That's a joke!! I'm not that impatient:p

£5 test payment sent to Flexible Saver yesterday wasn't showing, but just logged in again and its there. Very slick so far:T

andi2

nbinblack wrote: »

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

Thanks - mine is there too. New accounts not showing yet. Hmmm... but I have the reference numbers. Think I'll just wait a couple of hours for them to show up & then fund.

kazwookie

So if you can for the Ford RS ISA £250 x 12 = £3000, this years allowance is £20000,.

How are folks getting to £20K?

Can you open multi accounts at Ford Money for RS ISA? so if I get to £20K I would need 6.5 accounts over the year? (I need to get saving)

isasmurf

Westie983 wrote: »

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.

The question has to be asked, if you can have as many as you want why is their an upper limit on the monthly deposit?

Edit: so someone with £85,000 in a Cash ISA can transfer £250 to 340 RS ISAs and then with no requirement to fund every month forget about them until next year while earning 4% on the lot? Someone hasn't thought this through if that's the case

badger09

kazwookie wrote: »

So if you can for the Ford RS ISA £250 x 12 = £3000, this years allowance is £20000,.

How are folks getting to £20K?

Can you open multi accounts at Ford Money for RS ISA? so if I get to £20K I would need 6.5 accounts over the year? (I need to get saving)

You can't have more than 1 RS ISA with Ford, but you could open their other ISA products. Ford are one of the few providers to offer this sort of 'split ISA'.

Personally, I'm investing the rest of my ISA allowance into a S&S ISA

Steve_xx

kazwookie wrote: »

So if you can for the Ford RS ISA £250 x 12 = £3000, this years allowance is £20000,.

How are folks getting to £20K?

Can you open multi accounts at Ford Money for RS ISA? so if I get to £20K I would need 6.5 accounts over the year? (I need to get saving)

Yes you can open multiple ISA's at Ford, but only one that pays 4%!!

karlie88

Westie983 wrote: »

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

Can confirm more than one regular saver is showing on my online account.

I think their T&Cs will be amended very soon.

Zanderman

Rich2808 wrote: »

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

Well it is a little different, in that I can't see, on those Saffron T&C, an explicit statement that you can miss a payment (or did I miss something?) though, like Ford, they do imply a minimum pay-in each months (in Saffron's case £10).

But even if the terms are the same it doesn't alter my view that they are oddly worded - categorically stating a minimum payment and yet also stating that payments can be missed. It is contradictory.