Regular Savings Accounts: The Best Currently Available List!

SuperHans1

polymaff said:

Nuggy96 said:

SuperHans1 said:

I have a question that I hope someone can help me with please. I have a new M&S Monthly Saver which was opened today and M&S have set the standing order for the 30th of each month. If I change this to the 1st (tomorrow) would I earn additional interest? I seem to remember someone disputing this on the old board and that the maximum interest you could earn was fixed? Is this the same for the HSBC and First Direct Regular Savers? 

Hi Super, you cannot change the standing order date as the calendar month is from the date you open so if you open on i.e. 7th June, the calendar month is 7th June to 6th August and so forth. This limits your account to £3600 for a £300pm, or £3000 for £250, can't remember what M&S is off top of my head

Correction! You can bring the date forward, but all the baskets do is to put the money into their account until the original date - then credit to you.  The baskets ...

Thank you, this is what I suspected.
It was such a slow drawn out experience opening an M&S current account just to get to the Monthly Saver, I don't recommend it.

veryintrigued

schiff said:

Chorley RS (Issue 2)
Maturing today, sent in my withdrawal request on June 12th. Still showing at £3000 with no movement. Has anyone received their proceeds from this yet?

Account now showing zero balance and closed but with the closing interest applied and an entry of 'ELECTRONIC CLOSURES (BACS EXTRACT' to suggest the money will be in my current account soon.

schiff

veryintrigued said:

schiff said:

Chorley RS (Issue 2)
Maturing today, sent in my withdrawal request on June 12th. Still showing at £3000 with no movement. Has anyone received their proceeds from this yet?

Account now showing zero balance and closed but with the closing interest applied and an entry of 'ELECTRONIC CLOSURES (BACS EXTRACT' to suggest the money will be in my current account soon.

No change for me, still showing as £3000. Perhaps I shouldn't worry but the envelope containing everything may have gone astray. I've sent a private message. The first of the month is my 'big day' for the RSs and I'm lucky I wasn't relying on it!
PS: Not reached my destination account yet but it's been closed etc at Chorley. 

polymaff

SuperHans1 said:

polymaff said:

Nuggy96 said:

SuperHans1 said:

I have a question that I hope someone can help me with please. I have a new M&S Monthly Saver which was opened today and M&S have set the standing order for the 30th of each month. If I change this to the 1st (tomorrow) would I earn additional interest? I seem to remember someone disputing this on the old board and that the maximum interest you could earn was fixed? Is this the same for the HSBC and First Direct Regular Savers? 

Hi Super, you cannot change the standing order date as the calendar month is from the date you open so if you open on i.e. 7th June, the calendar month is 7th June to 6th August and so forth. This limits your account to £3600 for a £300pm, or £3000 for £250, can't remember what M&S is off top of my head

Correction! You can bring the date forward, but all the baskets do is to put the money into their account until the original date - then credit to you.  The baskets ...

Thank you, this is what I suspected.
It was such a slow drawn out experience opening an M&S current account just to get to the Monthly Saver, I don't recommend it.

Had the same, drawn-out, opening procedure last time.  Account eventually opened on the 1st of the following month, so I wasn't tempted to change the payment date.

Mind you, I wasn't, anyway.  Once bitten, twice shy. ...

where_are_we

Opening a new current account (M&S, First Direct etc) to benefit from its associated regular saver is onerous. However, once set up it is no trouble and you can open a new regular saver relatively easily each year as soon as the old one matures.  Interest rates are fixed and have been significantly above average for a few years but the question is - how long will they last?

K9

Is the M&S current account any good - just checked and saw their RS account pays 2.75% 

SuperHans1

K9 said:

Is the M&S current account any good - just checked and saw their RS account pays 2.75% 

Not unless you're a massive fan of sparks points. No real perks, very slow opening and switching process and a very limited mobile app. I expected it to be much like HSBC and First Direct but it is a very poor facsimile.

veryintrigued

veryintrigued said:

schiff said:

Chorley RS (Issue 2)
Maturing today, sent in my withdrawal request on June 12th. Still showing at £3000 with no movement. Has anyone received their proceeds from this yet?

Account now showing zero balance and closed but with the closing interest applied and an entry of 'ELECTRONIC CLOSURES (BACS EXTRACT' to suggest the money will be in my current account soon.

Well still no sign of the balance in my CA

[Deleted User]

veryintrigued said:

veryintrigued said:

schiff said:

Chorley RS (Issue 2)
Maturing today, sent in my withdrawal request on June 12th. Still showing at £3000 with no movement. Has anyone received their proceeds from this yet?

Account now showing zero balance and closed but with the closing interest applied and an entry of 'ELECTRONIC CLOSURES (BACS EXTRACT' to suggest the money will be in my current account soon.

Well still no sign of the balance in my CA

Same here.

wmb194

Smaller building societies' electronic deposits have a tendency to land after mid-day and if it is a Bacs transfer that was initiated yesterday it might be after mid-day tomorrow.