Regular Savings Accounts: The Best Currently Available List!

EachPenny

mgarl10024 wrote: »

I think I received the same letter. Mine said “On the anniversary of your Regular Saver, being exactly 365 days from the date your opened your account, your balance, plus interest, …. will be transferred into that account” and so on that date I expected to log in and see the funds in that account, just like with many other regular savers.

I got the same letter too and thought the 5 day part was up to HSBC's usual standards.

I've opened the Flexible Saver myself to hopefully get the RS proceeds in the next day and available so they can be transferred out in time to fund November's regular saver round. On past form HSBC will still open another Flexible Saver and 'hide' my money for 5 days.

I'm also hoping there will either be online access to the freshly closed RS account, or they will send a paper statement, so I have a record of the final transactions on the account.

karlie88

My Virgin Money Reg E-Saver (issue 1) has been converted to an Easy Access E-Saver Reward 10 account paying 1% interest.

Full balance along with interest transferred to nominated account via a FP. You even have the option to close the account online.

Really impressed with Virgin Money so far.

Westie983

karlie88 wrote: »

My Virgin Money Reg E-Saver (issue 1) has been converted to an Easy Access E-Saver Reward 10 account paying 1% interest.

Full balance along with interest transferred to nominated account via a FP. You even have the option to close the account online.

Really impressed with Virgin Money so far.

Just came to post the same thing Karlie88, I am impressed as it has paid and converted before the date...

Next one is 1st December...

Westie983

[Deleted User]

I have closed my transformed Virgin Money Regular E Saver issue 1 and asked for the balance to be transferred by FP to my nominated account. The amount transferred into my NA is £3582.27. This seems too high as the capital was £3500 with interest of £10 odd in March and final interest of £35. Has there been another VM computer problem?

Paul_DNAP

karlie88 wrote: »

My Virgin Money Reg E-Saver (issue 1) has been converted to an Easy Access E-Saver Reward 10 account paying 1% interest.

Full balance along with interest transferred to nominated account via a FP. You even have the option to close the account online.

Really impressed with Virgin Money so far.

It's nice that they mature it into an account that has a reasonable rate, not the best out there by far, but most time I've seen these regular savers mature into accounts that pay you tuppence a decade.


I've just had my first experience with a Virgin account (a Virgin virgin?) and so far, like you, I am impressed with their service. It's going to be a year today exactly when that matures.

Paul_DNAP

Deleted_User wrote: »

I have closed my transformed Virgin Money Regular E Saver issue 1 and asked for the balance to be transferred by FP to my nominated account. The amount transferred into my NA is £3582.27. This seems too high as the capital was £3500 with interest of £10 odd in March and final interest of £35. Has there been another VM computer problem?

It looks almost like you paid in 14 times £250 into the regular saver, and not the expected 12 for a year.


Can you check how long did you have it open for, or how long the standing order ran for? (Can you get a full statement for closed accounts on the Virgin website?)

ColdIron

Paul_DNAP wrote: »

It looks almost like you paid in 14 times £250 into the regular saver, and not the expected 12 for a year.

The Virgin Regular E-Saver is unusual in that you can make 14 deposits if you open it early enough and they use that figure in their example of estimated balance, see here

£3,549.22 is their figure and it tallies with the MSE calculator so it does look high

[Deleted User]

Yes, I paid in 14 X £250 ( Sept 2016 to October 2017) making total capital of £3500. The interest should have been in the region of £45 ( £10 credited to the account in March 2017 and £35 credited on 19 October, as showing on the online account). But they have transferred today £3582.27 to my nominated account ie £82.27 interest which is too much. Just wondering if it's a computer mis-program.

steve65e

Could they have applied the final interest twice, once automatically and then once manually when they closed the account?

I made the full 14 payments and got £46.33 interest, so about right, but I haven't closed mine.

Did you phone them to close yours?

[Deleted User]

No, closed online and instructed payment of closing balance by FP to NA. The £3582.27 arrived in NA within the hour. No clue on VM online account how made up.