Regular Savings Accounts: The Best Currently Available List!

colsten · 25 July 2017 at 10:19PM

schiff wrote: »

I went to a branch today to try and get more official information about keeping the 5% going on the FlexDirect account by some means or other, as discussed and achieved by other posters. Only to find out that the branches have been circulated by internal memo dated in the middle of June 2017, clearly aimed at deterring the switch to FlexAccount and back again. I was able to read it and it is very clear.

I had a Branch appointment today to downgrade a FlexPlus to a FlexDirect (couldn't be done without appointment). The young lady who did it couldn't have been more helpful and there wasn't a hint of "but you have already had your bite at a 5% FlexDirect". She did try very hard to sell me some other stuff - investments mainly, or how about a loan or a mortgage, or even just one of the normal savings accounts (as I already have a Flex Regular Saver). I almost felt almost sorry for the poor thing as there was simply nothing she could interest me in. I just wanted my FlexDirect, and I got it. All in all it took around 25 minutes, incl. polite chat about the weather and traffic jams. She did let me watch the transaction on the screen. Their system support for down- and upgrading current accounts is actually quite good. Let's hope they'll keep doing it for a while longer.

schiff · 26 July 2017 at 12:25AM

colsten wrote: »

The young lady who did it couldn't have been more helpful and there wasn't a hint of "but you have already had your bite at a 5% FlexDirect".

I merely reported that Nationwide had it in mind for some time in the future. They may never do it. So she would have had no need to mention it.

mhoc · 26 July 2017 at 7:57AM

colsten wrote: »

I had a Branch appointment today to downgrade a FlexPlus to a FlexDirect (couldn't be done without appointment). The young lady who did it couldn't have been more helpful and there wasn't a hint of "but you have already had your bite at a 5% FlexDirect". She did try very hard to sell me some other stuff - investments mainly, or how about a loan or a mortgage, or even just one of the normal savings accounts (as I already have a Flex Regular Saver). I almost felt almost sorry for the poor thing as there was simply nothing she could interest me in. I just wanted my FlexDirect, and I got it. All in all it took around 25 minutes, incl. polite chat about the weather and traffic jams. She did let me watch the transaction on the screen. Their system support for down- and upgrading current accounts is actually quite good. Let's hope they'll keep doing it for a while longer.

Please can I ask why are you downgrading?

I suppose it depends on your circumstances but even with the fee increase to £13 in September I think we are still on the correct side of things.

Grantys · 26 July 2017 at 10:10AM

Felt I had to post to say avoid Ulster Bank. Even though they have a good interest rate the online account is a joke! I paid in lots of money then couldn't get it out. The account needs a 'Card Reader' to set up payees but the card reader isn't sent automatically. Without it you can't make any withdrawals. The App only allows £250 payments daily. In the end I decided to close the account. Was advised that I needed to write to them! Then the advisor I was talking to dropped the call and I'm left with an account I can't get any money out of.

I take back anything bad I've ever said about Lloyds Bank. They are first class prepared to Ulster Bank who are an absolute joke!

steve65e · 26 July 2017 at 11:40AM

There's a separate thread about this account in Savings and Investments.

(Yes, they are terrible, I'm still waiting for my card 25 days later. However, if you are registered for internet banking you can withdraw £10k per day by phone I believe)

eskbanker · 26 July 2017 at 11:46AM

Grantys wrote: »

Felt I had to post to say avoid Ulster Bank. Even though they have a good interest rate the online account is a joke! I paid in lots of money then couldn't get it out. The account needs a 'Card Reader' to set up payees but the card reader isn't sent automatically. Without it you can't make any withdrawals. The App only allows £250 payments daily. In the end I decided to close the account. Was advised that I needed to write to them! Then the advisor I was talking to dropped the call and I'm left with an account I can't get any money out of.

I take back anything bad I've ever said about Lloyds Bank. They are first class prepared to Ulster Bank who are an absolute joke!

If you did feel the need to post about Ulster Bank's savings account, you'd probably be better to do so in the dedicated thread all about it at https://forums.moneysavingexpert.com/discussion/5668139 rather than this one that's intended to be specifically about regular savings accounts (albeit there are some other meanderings off-topic above).

Better still, if you read that linked thread, it advises about matters such as card readers and how to close an account online should you wish to do so (https://forums.moneysavingexpert.com/discussion/comment/72821933#Comment_72821933)

Having said that, it's not exactly hard to find the reference to

You will need a card and a card reader to withdraw money from your account. You must order and enable your card reader through Anytime Internet Banking. An Anytime Banking card and PIN will be automatically provided for use with the card reader if you do not have an existing Ulster Bank debit card.

in the high-level product info at http://digital.ulsterbank.co.uk/personal/savings/instant-access-accounts/eSavings.html

colsten · 26 July 2017 at 5:47PM

mhoc wrote: »

Please can I ask why are you downgrading?

I suppose it depends on your circumstances but even with the fee increase to £13 in September I think we are still on the correct side of things.

The FlexPlus no longer gives me value for money. The FlexDirect does, for the next 12 months. Personal choice.

colsten · 26 July 2017 at 5:51PM

Grantys wrote: »

Felt I had to post to say avoid Ulster Bank. Even though they have a good interest rate the online account is a joke! I paid in lots of money then couldn't get it out. The account needs a 'Card Reader' to set up payees but the card reader isn't sent automatically. Without it you can't make any withdrawals. The App only allows £250 payments daily. In the end I decided to close the account. Was advised that I needed to write to them! Then the advisor I was talking to dropped the call and I'm left with an account I can't get any money out of.

I take back anything bad I've ever said about Lloyds Bank. They are first class prepared to Ulster Bank who are an absolute joke!

It's always been clear that people would have difficulties withdrawing money if they didn't have a card, card reader and PIN. It's been mentioned on here several times - albeit in the right thread. You are in the "Best Regular Savings Accounts" thread, and the Ulster Bank esaver isn't a Regular Saver.