Regular Savings Accounts: The Best Currently Available List!

Speculator

Southcoast01 said:

My Chorley BS matured fund are now showing in my current account dated tomorrow.

same, in my Santander. Just transferred to Marcus 1.2%
However, wife still waiting for hers to show in her Lloyds.

ashteadgirl

Speculator said:

Southcoast01 said:

My Chorley BS matured fund are now showing in my current account dated tomorrow.

same, in my Santander. Just transferred to Marcus 1.2%
However, wife still waiting for hers to show in her Lloyds.

Yes mine just arrived. Also headed into Marcus!

dcs34

Hi there,

I couldn't find these on the front pages - Triodos Bank have two regular saver products: https://www.triodos.co.uk/savings/regular-savings

Triodos Fixed Regular Saver

• 1.25% gross (1.26% AER) fixed for 1 year
• 33-day notice period
• Maximum 2 withdrawals a year
• Save from £25 up to a maximum £500 monthly
• Account switches to a Regular Saver after 12 months

Triodos Regular Saver

• 0.05% gross (0.05% AER) variable
• 33-day or 90-day notice periods
• 2 penalty-free withdrawals a year
• Save from £25 a month, no maximum limit
• No fixed end date on the account

colsten

1.25% might just be just about acceptable these days if you have filled all the 1.5%+ RS accounts ---  but 0.05%? Seems really 'ethical' to entice customers with a half decent rate, in the hope they'll forget about moving their funds after 12 months.

liamcov

I’ve never heard of them - anyone have experience with them?

colsten

liamcov said:

I’ve never heard of them - anyone have experience with them?

It's a Dutch bank, popular with people who are into 'ethical' banking. AFAIK, they have a UK licence and full FSCS cover, so would be as safe as any of the UK banks. 

[Deleted User]

Be careful with Triodos Bank. You have to give 33 days notice in advance of the 1 year anniversary of the "fixed regular saver" to get access to your money on the anniversary. The account automatically becomes a "regular saver" on the anniversary, and your accumulated cash is tied in to a derisory rate of interest for at least another 33 days. No other RS works like this.

[Deleted User]

liamcov said:

I’ve never heard of them - anyone have experience with them?

I had experience of the Triodos fixed regular saver in 2016/17. I got caught out on the notice period (see my above post) which was a novel concept to me in respect of regular savers. Usually a regular saver matures at the maturity date into an instant access account or savings plus interest are paid out at maturity into a nominated account selected by you. With Triodos you have to give 33 days notice prior to maturity in order to withdraw your money at maturity, otherwise the money morphs into a very low paying notice account which you cannot quickly escape from. You don't receive a reminder in advance of maturity to give notice. It is very sneeky and far from fair or ethical.

K9

colsten said:

1.25% might just be just about acceptable these days if you have filled all the 1.5%+ RS accounts ---  but 0.05%? Seems really 'ethical' to entice customers with a half decent rate, in the hope they'll forget about moving their funds after 12 months.

Bankers!

garfield33

Deleted_User said:

I had experience of the Triodos fixed regular saver in 2016/17. I got caught out on the notice period (see my above post) which was a novel concept to me in respect of regular savers. Usually a regular saver matures at the maturity date into an instant access account or savings plus interest are paid out at maturity into a nominated account selected by you. With Triodos you have to give 33 days notice prior to maturity in order to withdraw your money at maturity, otherwise the money morphs into a very low paying notice account which you cannot quickly escape from. You don't receive a reminder in advance of maturity to give notice. It is very sneeky and far from fair or ethical.

Hi Hattie625, I'm just looking at the T&Cs of the Triodos Fixed Regular Saver, I'm not sure of something and wondered if you or anyone else knew.
During the 12 months, there is a 33-day notice period, I see that bit.
When it converts to just a Regular Saver, with the lower interest rate, does this mean that 33 day notice period still applies?
Thanks!