Regular Savings Accounts: The Best Currently Available List!

interest_Ted

Just curious - aren't Halifax supposed to open an everyday saver for you at same time as opening the Regular saver ?
Or have they changed this requirement? (still in T&C, or don't I have the latest T&C ?)

Ted

schiff

interest_Ted wrote: »

Just curious - aren't Halifax supposed to open an everyday saver for you at same time as opening the Regular saver ?
Or have they changed this requirement? (still in T&C, or don't I have the latest T&C ?)

Ted

They opened one for me without my asking! Both Halifax accounts appear when I open up Bank of Scotland.

glider3560

interest_Ted wrote: »

Just curious - aren't Halifax supposed to open an everyday saver for you at same time as opening the Regular saver ?
Or have they changed this requirement? (still in T&C, or don't I have the latest T&C ?)

Ted

If you already have a "suitable savings account" then they won't open one during the application.

Neil_Jones

I only had a current account with Halifax when I opened my regular saver and I've since switched the current account away (the only other Halifax account I have is H2B which can't take a £3k lump sum) so it'll be interesting to see what happens when the regular saver matures...

glider3560

Neil_Jones wrote: »

I only had a current account with Halifax when I opened my regular saver and I've since switched the current account away (the only other Halifax account I have is H2B which can't take a £3k lump sum) so it'll be interesting to see what happens when the regular saver matures...

The terms cover that eventuality Your Regular Saver will be redesignated to a Everyday Saver. No idea why they can't do that for everyone?

veryintrigued

veryintrigued wrote: »

Just a reminder that this Savvy Saver should have matured but also that you're able to make £200 deposit (on top of the maximum £100) making a potential total £300 for the month of December into the SSFO.

Then back to a maximum of £200 per month going forwards.

I haven't had postal notification yet but a heads up that maturity on this should be next month.

mhoc

I have had the letter about our Nationwide Flexclusive regular saver which is due to mature very early January.
When it does mature it will have the same details - account and sort code but a new name Flexclusive Saver issue 8 - to me this is flannel as on your accounts list is just looks like an account name change and not a drop in interest rate to 0.50% (- the complacent few that don't check their accounts regularly wont realise, will ignore their letters and carry on paying in each month).

It does say though that I could carry on with "my savings journey" by opening a new Flexclusive regular saver next day after maturity with another year of 5% but it does not say what the maximum monthly payments it will allow.

(At the moment its in joint names but letters tend to come just in OHs name).

The account should now have the full £6000. Will the account allow the £500 payment for January 1st making the total £6500 or will it bounce back. Or should I just cancel the standing order now as the extra £500 will only be in the account a few days and wont make a vast amount of extra interest.
Or should I just cancel the standing order and put the final £500 in manually on January 1st?

When I open the new one should I be able to just open it in my name only - its funded by the household joint account?

glider3560

mhoc wrote: »

the complacent few that don't check their accounts regularly wont realise, will ignore their letters and carry on paying in each month)

"You snooze, you lose". I think it is quite clear when you open the account that it is a 12 month term. They also write to you. How much more clearer could they make it? Rename the account to "Rubbish interest rate Issue 8"?

mhoc wrote: »

It does say though that I could carry on with "my savings journey" by opening a new Flexclusive regular saver next day after maturity with another year of 5% but it does not say what the maximum monthly payments it will allow.

£250 per month.

mhoc wrote: »

The account should now have the full £6000. Will the account allow the £500 payment for January 1st making the total £6500 or will it bounce back. Or should I just cancel the standing order now as the extra £500 will only be in the account a few days and wont make a vast amount of extra interest.
Or should I just cancel the standing order and put the final £500 in manually on January 1st?

It will accept the extra £500. I didn't do it this year as my account matured on the 3rd December, so seemed pointless.

mhoc wrote: »

When I open the new one should I be able to just open it in my name only - its funded by the household joint account?

Yes, it doesn't matter where the money comes from. You just need to be able to meet the criteria (which you will, if the joint account does).

clivep

glider3560 wrote: »

Yes, it doesn't matter where the money comes from. You just need to be able to meet the criteria (which you will, if the joint account does).

See my post at https://forums.moneysavingexpert.com/discussion/comment/73521484#Comment_73521484

Unless it's changed, the problem is that when applying online the account name for the new Flexclusive Regular Saver defaults to that of the Nationwide a/c used for the deposit and you can't alter this. If you ONLY have Nationwide current and savings a/cs in joint names then you can't set up a regular saver in a sole name. It is possible but you need to phone them to set it up.

Once the sole regular savers have been opened then there's no problem using a standing order to make further monthly deposits.

glider3560

clivep wrote: »

See my post at https://forums.moneysavingexpert.com/discussion/comment/73521484#Comment_73521484

Unless it's changed, the problem is that when applying online the account name for the new Flexclusive Regular Saver defaults to that of the Nationwide a/c used for the deposit and you can't alter this. If you ONLY have Nationwide current and savings a/cs in joint names then you can't set up a regular saver in a sole name. It is possible but you need to phone them to set it up.

Once the sole regular savers have been opened then there's no problem using a standing order to make further monthly deposits.

You can open it in sole names online, just choose that you don't have online banking. It then takes you to a different application form which gets processed by a human and lets you deposit money manually once open.