Regular Savings Accounts: The Best Currently Available List!

schiff

Each account I hold involves the other party having access to much personal information, it's unavoidable. Same with credit searches when applying for money things.

But call me old fashioned if you will but I am NOT allowing an outside agency into the personal information required by this advance into the future. As with the banks now allowing an outside agency to operate actions on your accounts without your say-so.

I find it frightening.

Steve_xx

schiff wrote: »

Each account I hold involves the other party having access to much personal information, it's unavoidable. Same with credit searches when applying for money things.

But call me old fashioned if you will but I am NOT allowing an outside agency into the personal information required by this advance into the future. As with the banks now allowing an outside agency to operate actions on your accounts without your say-so.

I find it frightening.

I fully concur with your view. It is worrying.

schiff

For the moment it is voluntary but...............:(

Eco_Miser

schiff wrote: »

As with the banks now allowing an outside agency to operate actions on your accounts without your say-so.

I find it frightening.

But that, supposedly, is NOT happening.

The third party agents, who will all have FCA authorisation and many will be the existing banks and money-lenders, will only operate actions on your accounts at your request.
This is very similar to direct debits, where a third party generates requests for payments from your account.

Be frightened of the increased vulnerability to hacking Open Banking introduces, and the increased knowledge of your affairs financial institutions can gain, but not of the concept.

I won't be authorising any third party access to my accounts if I can avoid it.

colsten

Please can people take their discussion about 3rd party access to a more suitable thread. This one is about the best currently available regular savings accounts.

adindas

mhoc wrote: »

I've got a maturing Virgin 2 regular saver and I wondered about letting it mature and go into this other account.

Then removing all but £1 but leaving this other open and dormant for now - as a justincase account

IMO if you want to keep it just keep one of them e.g choose the longest one. This might be useful in the future when you need to apply a product with a condition related to the duration of your banking relationship with them.

So in the future if there is a condition such as you will need to be a customer for at least two years for instance, you qualify for that product. Such condition is sometimes found with RS from building society.

Special_Saver2

Hi Everybody,

Here is this weekend's update. I have checked every account on the first page of this thread and found the following changes.

- Darlington BS Junior High Days and Holidays account withdrawn and removed from post 3
- Nottingham BS Robin Hood Young Saver issue 6 replaced with issue 7 - same terms and conditions as with issue 6 but maturity date changed from 31st May 2019 to 31st January 2020
- Yorkshire BS Monthly Regular Saver account interest rate increased by 0.25% to 2%
- N&P BS Monthly Regular Saver account interest rate increased by 0.25% to 2%

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

JamesRobinson48

I've just had a letter from the Holmesdale Building Society informing me that the interest rate on its current Regular Saver (Issue 3) will increase from 2.00% to 2.25%, from 1st January 2018.

stoozie1

Hi all,

Stupid maths question really, relating to the Swansea Regular Saver paying the monthly interest into another account (meaning no compounding of the interest) I am guessing this means that the yearly interest accrued isn't the one predicted by regular savings calculators?

Would anyone be kind enough to give me the excel formula they use to calculate yearly interest on this one, please?

polymaff

stoozie1 wrote: »

Hi all,

Stupid maths question really, relating to the Swansea Regular Saver paying the monthly interest into another account (meaning no compounding of the interest) I am guessing this means that the yearly interest accrued isn't the one predicted by regular savings calculators?

Would anyone be kind enough to give me the excel formula they use to calculate yearly interest on this one, please?

Isn't this account really a compounding account with easy access? You won't be far out with the standard 6.5/12 formula. For a precise answer you'd need to factor in the significance of working days throughout the year - and the latency of your withdrawals.