Regular Savings Accounts: The Best Currently Available List!

financial_illiterate

steveteach wrote: »

Hi I have a NatWest Regular saver and am awaiting the account number for a savings account with RBS (needed to open Regular Saver). RBS have been slow in opening the savings account as it is a week since I sent the forms and opening cheque back. Once that is open I intend to open a RBS Regular Saver. I will write my sucess/failure when I have tried to open the account.

I'm fairly sure the t&c's forbid you to hold both an RBS and a Natwest Regular Saver, since they're effectively the same account.

If you do manage to sneak your application through then :T

steveteach

Hi financial illiterate

Please see this thread (post 3).
http://forums.moneysavingexpert.com/showthread.html?t=1883379
It explains things in a little more detail.

Special_Saver2

Hi Folks,

I have carried out this weekend's update to the first page of this thread. The only thing that has changed is that I have added the First Direct regular savings account. I see that you have to pay £10 per month for the linked current account unless you "pay in at least £1,500 to your 1st Account each month, or maintain an average monthly 1st Account balance of £1,500, or hold a selected first direct additional product." I am not clear whether the regular savings account counts for this purpose. If any of you know the answer then let me know and I will add it to this account's entry in post 5.

All the best,
SS2

YorkshireBoy

Special_Saver2 wrote: »

I am not clear whether the regular savings account counts for this purpose.

No it doesn't...

You will not have to pay the Banking Fee:

for any month in which you:

hold a first direct mortgage, credit card, personal loan, savings account (*excludes Regular Saver Account and a Regular Saver ISA held for less than 12 months), first directory, or first direct car or home insurance policy


http://www.firstdirect.com/rates/charges.shtml

Dagobert

Ever since the introduction of the FirstDirect Banking Fee, I have simply kept a savings account with a £10 balance, which has been sufficient to avoid the fee.

I have had a Regular Saver and Regular Saver ISA since.

LongTermLurker

Dagobert wrote: »

Ever since the introduction of the FirstDirect Banking Fee, I have simply kept a savings account with a £10 balance, which has been sufficient to avoid the fee.

I have had a Regular Saver and Regular Saver ISA since.

While that was valid for savings accounts opened before February, it hasn't been since then. However, they've recently announced that a savings account (bar regular saver) will qualify for a fee waiver from 1 Sept, as per YB's post.

Special_Saver2

Hi Folks,

There is another children's regular saver account that has been launched. I don't list these at the moment on the first page of this thread but here are some details from emoneyfacts...

uAccount launched w.e.f. 1.9.09: an instant access children's regular saver account with a minimum monthly contribution of £10, maximum £100 paying 4.00% yearly. Rate reduced by 2.00% if 12 payments not made or more than 1 withdrawal per annum. Up to 4 further additions of £100 permitted. Passbook available. Environmentally friendly calculator and uAccount pass book holder on account opening. Birthday card sent and savings certificate issued when £500 and £1K saved.

I will also add that it is for children aged 7 to 17 and that you can keep funding the account until the child reaches 18 years old. The full details are on this page on the Scottish BS website. As with all children's accounts, be careful about the tax implications. See Martin's page on children's savings accounts if you do not know what I mean.

All the best,
SS2

kingmonkey

Just been to Halifax branch and they hinted that the Regular Savings Account may be changing on 6th September. Couldn't get more specific details out of her. Anyone heard/know anything else?

RayWolfe

Probably a reduction, but speculation is just that.

Dagobert

Buckinghamshire BS launch 6.25% regular saver