Regular Savings Accounts: The Best Currently Available List!

karlie88

arsenalboy wrote: »

Did you have to pay for FP?

I have the same account which matures in a couple of weeks. They have sent me a maturity instruction form which only gives option of cheque?

No fee to send a FP. They were fairly insistent that I send them the form back, but I said that I would like to sort it out over the phone which she graciously did.

Kept £1 with them for obvious reasons.

schiff

This is from the opening posts:

"Special conditions: To open this account you need to have held a savings account or mortgage with Saffron BS for at least 6 months. All customers can open the account by post. The interest rate falls to 0.05% if the account balance is less than £10. You may only hold one Regular Saver account (includes all issues)."

I opened this account in January in a branch without having any existing relationship with them. Does this need amending?

castle96

I was told that I had to have a savings a/c before I could open the RS. I opened an E Saver with £10, then a RS straight away. There was no mention of "6 mths"

schiff

castle96 wrote: »

I was told that I had to have a savings a/c before I could open the RS. I opened an E Saver with £10, then a RS straight away. There was no mention of "6 months"

Well, that's strange. I've been through all the paperwork and everything seems OK.

schiff

In asking about withdrawals from the Leek RS which is on my mind for the near future, I was told cash withdrawals of £5000 etc are OK with 48 hours notice and BACS transfers attract a £20 charge! Because they are a building society not a bank they said. Seems rather steep to me!

Rollinghome

schiff wrote: »

BACS transfers attract a £20 charge! Because they are a building society not a bank they said. Seems rather steep to me!

Could they have been confusing BACS with CHAPS (which typically has a charge of around £20).

interest_Ted

As readers will probably be aware - this is up and running as of yesterday. It has at least a couple of changes (improvements) from previous issues. Firstly - it matures on 02 July 2018, so no need to guess if and when it might be closed. Secondly you can make deposits as and when you want, providing your account balance does not exceed amount specified at end of month (amount specified is in a table they provide in T&C, but boils down to multiples of £250 per month).
I like it !!!
Ted

schiff

I agree. The T&Cs sheet I was given yesterday is also very clear and explicit, I'm not left wondering about some detail that isn't covered.

schiff

Rollinghome wrote: »

Could they have been confusing BACS with CHAPS (which typically has a charge of around £20).

Didn't think of that, but they did say BACS.

Rich2808

schiff wrote: »

This is from the opening posts:

"Special conditions: To open this account you need to have held a savings account or mortgage with Saffron BS for at least 6 months. All customers can open the account by post. The interest rate falls to 0.05% if the account balance is less than £10. You may only hold one Regular Saver account (includes all issues)."

I opened this account in January in a branch without having any existing relationship with them. Does this need amending?

Yes it does. Anyone can open the account at a branch - but only customers with six months membership can open one by post.

I am a long term member who joined via the now closed Stratford branch. So I tend to transact by post now to avoid a drive to the nearest branch to London in Brentwood. The postage is cheaper than the parking/petrol.

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