Regular Savings Accounts: The Best Currently Available List!

mhoc

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

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

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

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

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

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.

gilly56

Can anyone advise on the best Reg Saver online interest calculator? I've tried the following 3 websites and I get a total year's interest figure that is different in each of them....

https://moneyfacts.co.uk/compare/savings/monthly-savings-plan/
http://www.hl.co.uk/tools/calculators/regular-savings-calculator
http://www.thisismoney.co.uk/money/saving/article-1633419/Monthly-lump-sum-savings-calculator.html

Thanks

ColdIron

How about the MSE one?
http://www.moneysavingexpert.com/savings/best-regular-savings-accounts#calculator

gilly56

Ah,thanks, I hadn't realised this site also had one, its figures come the closest to my second link above but as that only allows a whole percentage rate figure the MSE one seems to be the best.

Many thanks. :-))

Nationwide8

schiff wrote: »

I think I may have the definitive answer to the Nationwide conundrum.

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.

And there's a hint of another whammy at the end. Nationwide are continuing to play with the idea of stopping the second bite at the 5% cherry on the FlexDirect account, even when 12 months has passed. On the grounds that it is/has been an introductory offer and not intended as a vehicle for savings.

So, for me in September, it's moving from £8500 at 5% to a nominal sum at 1% and the laboured process of building on £250 per month at 5% all over again.

Almost as disappointing as the Santander dip from 3% to 1.5%.

I didn't ask about joint accounts as that is not an option available to me.

Such a coincidence:) Looked at the forum today as the 5% on my FlexDirect ended yesterday and I was trying to see if anyone recently had managed to convert an old Flexaccount to a Flexdirect and get 5% on it without waiting the 12 mths.

Today have converted my Flexdirect ( end of 5% ) to a Flexaccount .This could not be done in branch ( visited this morning ) without an appt ( next available appt next Weds ) and it can't be done on line.So after a 18 min phone call ( about 12 mins in a queue ) it's been converted.

Have tried to convert today an old Flexaccount open about 6 mth s ( with £750 in/out every month) to a Flexdirect but it says my computer is not compatible to do
so ?? Maybe I need to wait 24 hrs from today when the old Flexdirect was converted although it's already showing as a Flexaccount online.??

Anyway has anyone RECENTLY converted an old Flexaccount to a Flexdirect and got 5% under the 12 mth gap and have they done it successfully by phone or branch visit

Edit...know this is The Reg Saver thread but I couldn't see where this has been discussed anywhere else