Regular Savings Accounts: The Best Currently Available List!

polymaff

EachPenny wrote: »

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

Yes, classic HSBC. I had a regular mature Saturday but no funds until Tuesday - and no ability to start a new regular until Tuesday.

The regular has just started today (Friday) - which may mean no interest earning for a week.

I guess if I was a money-launderer I might get better service?

adindas

mhoc wrote: »

does tweeking the overdraft have an effect on your credit score, does anyone know?

I have a vague feeling that if you lower your overdraft is does have a negative impact, but that might be an urban myth

I do not thing it will have any impact or if any it might be very insignificant,

I used to have three Nationwide Flex Direct current with an overdraft of £1000 each as soon as I changed to Flex account I asked them to remove the OD facility as I do not want to become the burden when I apply a new 0% on BT CC. I do not see any change on my Noodle credit score.

Probably someone else wanted to share their own experience so we could all learn it.

adindas

mhoc wrote: »

its the "or also" bit that worries me.

I've always just put the £1000 in per month and then boomeranged it out again and then later put in £300 for the regular savings (as the Regular savings date has gradually crept forward in the month)
After my last regular saver matured and the contents went into the normal FD saver I withdrew the contents but kept it open as a justincase.
So can I just put £1 in the normal savings and not do the £1000 boomerang in and out each month?

What I normally do with this is that:
- For £1000 (or whatever) I do it manually IN and OUT on the same date manually, normally on the first or second day each month. You will need to cream the interest anyway to optimize the impact. Also setting up £1000 in and out in many accounts is quite risky if you are funding a lot of accounts your account might go overdrawn. I do it manually on a PC with dual screen monitor so it could be done quickly.

- For the regular saver I will set up a standing order SO from different sources of 3BOS and 1 Clloyds preferably day one each month or if not possible on other day.

If if people want to share their own experience so we could all learn good and bad practice.

polymaff

adindas wrote: »

If if people want to share their own experience so we could all learn good and bad practice.

Here, I've got the £1 qualifying savings account and the bank account with a £300 overdraft and £25 balance. Each month, in time for the funding transfer for the Regular Saver, I transfer in £300 from , as it happens, a Santander 123. No other payments made to or from - other than the maturing balance of the regular saver each year.

That what I do, with a bank account and initial (can't say first ) regular saver opened in January 2014. Might be different for one opened today.

gallygirl

adindas wrote: »

If if people want to share their own experience so we could all learn good and bad practice.

Similar to you - the regular savers are funded with SO's and the monthly funding of other accounts happens manually. I don't have split screen, just move money out one day and back the next. I record it on a spreadsheet - just an electronic list really and I write DONE against each one so very low tech . In theory I do a monthly sweep of the interest on current accounts - all too often though I do it when I do the monthly transfer .

Will be interesting to see what impact the probable/possible interest rate rise will have on regular saver rates.

Wheres_My_Cashback

ColdIron wrote: »

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

Think I was a little slow off the mark with this first Virgin account as only managed £46.44

Wheres_My_Cashback

gallygirl wrote: »

Similar to you - the regular savers are funded with SO's and the monthly funding of other accounts happens manually. I don't have split screen, just move money out one day and back the next. I record it on a spreadsheet - just an electronic list really and I write DONE against each one so very low tech . In theory I do a monthly sweep of the interest on current accounts - all too often though I do it when I do the monthly transfer .

Will be interesting to see what impact the probable/possible interest rate rise will have on regular saver rates.

Why not move it back the same day. All my RS are funded via SO and monthly fundings done manually. In and out within 10 seconds usually....that's the funds BTW

Special_Saver2

Hi Everybody,

Here is this weekend's update.

- Virgin regular savings accounts moved from post 3 to post 7 as they now have less than 12 months until maturity for anybody opening them right now
- Club Lloyds Monthly Saver account updated in post 5 with interest rate now 2.5% for people opening this account now

I will do another update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...=608697&page=1

andi2

stoozie1 wrote: »

Update after phoning First Direct, the savings account only prevents you from paying the £10 monthly fee, it doesn't constitute a way of changing the lower earnings threshold (which I don't meet).

I thought I'd post in case it saves anyone else ringing.

Can you not make hubby's account a joint one? You can both have a regular saver from a joint account. (& I don't have an income so the earnings limit must have been met by hubby when we applied).

Mee

Wheres_My_Cashback wrote: »

Think I was a little slow off the mark with this first Virgin account as only managed £46.44

Even slower here as I received £46.09.
Noted £10.35 sent back to feeding account due to "A/c Limit Breach"