Regular Savings Accounts: The Best Currently Available List!

Lady_K

I do have an existing reg saver with halifax the one at £250 a month and an old websaver. Will I have to open a new websaver for nominated account to use with this new £500 reg saver?

Or I wondered if they might just swap my present reg saver to the new one to save messing around

By the way this 13th payment thing, Halifax put it back into my nominated account last year even though I put it in after they swooped it to my nominated account as they said it was already funded in the same month

opinions4u

Lady_K wrote: »

I do have an existing reg saver with halifax the one at £250 a month and an old websaver.

You can only have one Regular Saver with Halifax. You would need to close the old one to get a new one. This would allow them to pay you the 0.1% Web Saver rate on the old one. Or open a new one elsewhere .

Will I have to open a new websaver for nominated account to use with this new £500 reg saver?

The existing account is fine.

Or I wondered if they might just swap my present reg saver to the new one to save messing around

You could simply increase your standing order to £500. It's the same product. They simply increased the maximum you could pay in to it in June last year.

It would pay whatever rate was in force when your account first matured and transferred funds back to the nominated account.

Lady_K

Thankyou, just a bit confused as to what interest rate I'd be on if I just paid the extra in as I've had my account for a few years now when the interest rate was I think 6% then 7% would it be 5% now or higher if I just continued with it but pay in £500 instead?

Will my websaver go up to the 1% too if I just increase to £500 as its showing as 0.10% at the moment

opinions4u

Lady_K wrote: »

Thankyou, just a bit confused as to what interest rate I'd be on if I just paid the extra in as I've had my account for a few years now when the interest rate was I think 6% then 7% would it be 5% now or higher if I just continued with it but pay in £500 instead?

What date did it last mature on? It will be the rate in force at that date (probably 4% or 5% if it was in recent months). You might be best ringing them on 08457 26 36 46 to establish this.

Will my websaver go up to the 1% too if I just increase to £500 as its showing as 0.10% at the moment

No. The Web Saver rate isn't linked to having a Regular Saver account.

Lady_K

I will try and ring them then to sort the websaver out too but it matured on 4th September.

My daughters is due to mature tomorrow 28th so she cant close hers till tomorrow but she also wants to start on the £500

Lady_K

Rang them and oh so typical Halifax told me I cannot increase my payments to £500 on my present reg saver, I asked him to check with manager he did and came back saying that the manager confirmed this. I get conflicting information whenever I have to ring halifax they are so badly trained.

I pushed him to tripple check and he eventually came back saying yes I can increase payments to £500

As for the web saver he said 'its 0.10% and there are no others accept for the fixed rate ones so it is probably one of those that other reg savers are using for nominated accounts' so I had to point out to him the fixed rate ones can't be added to so it cant be one of those can it, he said oh yes thats right... I hate phoning halifax because very few of them know the correct information

What is the exact name of the web saver at 1% please? mines saying web saver variable 0.10%

opinions4u

Lady_K wrote: »

Rang them and oh so typical Halifax told me I cannot increase my payments to £500 on my present reg saver, I asked him to check with manager he did and came back saying that the manager confirmed this. I get conflicting information whenever I have to ring halifax they are so badly trained.

I pushed him to tripple check and he eventually came back saying yes I can increase payments to £500

Blimey, it's not that hard to know! Glad they got there in the end.

As for the web saver he said 'its 0.10% and there are no others accept for the fixed rate ones so it is probably one of those that other reg savers are using for nominated accounts' so I had to point out to him the fixed rate ones can't be added to so it cant be one of those can it, he said oh yes thats right... I hate phoning halifax because very few of them know the correct information

What is the exact name of the web saver at 1% please? mines saying web saver variable 0.10%

They have Web Saver Fixed and Web Saver Extra (1.5%) paying a range of different rates. But these can't be your nominated account for a Regular Saver.

Guaranteed Saver, IASA, Web Saver Variable, Instant Saver and a handful of other (predominantly low interest) accounts apply.

Web Saver Rewards are allowed, but they don't have an offer for one at the moment.

Special_Saver2

I have removed the Lloyds TSB Monthly Saver from the list as it is now paying 2% for new applicants. Thanks to smcg2212 who pointed this out in another thread.

SS2

jimbow25

It may be worth highlighting this about the Halifax Regular Saver, as mentioned in another thread:

"Hurry, rate ends 8 October. You must open and fund your Regular Saver account by 8 October 2009 to qualify for this rate."
http://www.halifax.co.uk/savings/regularsaver.asp

Presumably they would only say this before the rate going down, not up.

Special_Saver2

Hi Folks,

I have added the information from the post above to the entry on the Halifax regular saver. There is no such warning on the offshore version of this account (Halifax International Regular Saver) but that account is already paying a lower interest rate of 4% gross.

I have checked through everything else and there is nothing else to add or delete.

I shall do another update next weekend.

All the best,
SS2