Regular Savings Accounts: The Best Currently Available List!

WillPS

Apologies if this is obvious - I can't see it in any of the literature.

Does the cheque you open a Mansfield BS account with have to have your own name printed on it? My fiancee and I have a joint account but only my name is printed in the chequebook. All I can see is an instruction to make the cheque out to 'Mansfield Building Society - [initial] [surname]' which implies that it doesn't have to be from your own account, but I know some building societies don't like this.

Is it strictly one deposit per month or can I make a subsequent deposit by Faster Payment once we have the passbooks?

subjecttocontract

Rich2808 said:

subjecttocontract said:

Yes that's to far from my part of Essex. Never, ever heard of Mansfield BSoc, they must be quite small. I've been to Nottingham before but didn't see a Mansfield BSoc when I was there. 

They only have five branches - none in the city of Nottingham.

Your local societies in Essex will be the Saffron (Walden), Suffolk (far north of Essex) or the Cambridge (M11 side) - depending on where you live. They all do regular savers - but you don't normally need to visit a branch to open them.

https://www.suffolkbuildingsociety.co.uk/savings/regular-savings-accounts/

https://www.saffronbs.co.uk/Savings/Regular-Savings-Accounts

https://www.cambridgebs.co.uk/savings/regular-savings

Oh I'm not looking for a local building society...... none of them can offer me an account that's competitive with Mansfield .....and I don't qualify for that particular reg saver.

WillPS

allegro120 said:

Growingold said:

How strict do you think Mansfield are with their criteria for opening - Mansfield BS Kick Start Regular Savings (Issue 7).  I don't live in the local area and have been with them for less than their stipulated 12 months but I received an email from them about the product.  Is it worth a try to open?

Probably not. You are not qualified, so you are most likely to waste money on postage. Instead you can wait for your anniversary and apply then. It is possible that this product will be offered for some time because the rate is not at top of the table and the account is not opened to all.

If @Growingold sends an enquiry to them, they'll send an application pack with a nice binder and a prepaid envelope to return the form in. Depending on their preference, they could also state they're an existing account holder and provide the account number, thereby giving Mansfield BS an opportunity to politely decline.

WillPS

subjecttocontract said:

Yes that's to far from my part of Essex. Never, ever heard of Mansfield BSoc, they must be quite small. I've been to Nottingham before but didn't see a Mansfield BSoc when I was there. 

They have branches in Nottinghamshire (Mansfield, Sutton-in-Ashfield, Kirkby-in-Ashfield) and Derbyshire (Chesterfield) but none in the City of Nottingham (which isn't in Notts.).

gt94sss2

Growingold said:

subjecttocontract said:

Well if you get an account I will want one as well. I'm not to far away.....I'm only in Essex and can complain about fairness as well as anyone else.

What makes you think that you should get an account and the rest of us shouldn't ?

I can't understand people who want to bend the rules......perhaps you can explain your reasoning ?

I'm not trying to bend the rules.  I just wonder why I was sent the email if it didn't apply to me.  They know where I live and how long I've been a member.  I just asked how strict they were with their criteria because of this.

They probably sent the email to all their customers. It's not worth the effort to only send it to those who qualify for the specific account.

They are not the only institution to do this

allegro120

WillPS said:

Apologies if this is obvious - I can't see it in any of the literature.

Does the cheque you open a Mansfield BS account with have to have your own name printed on it? My fiancee and I have a joint account but only my name is printed in the chequebook. All I can see is an instruction to make the cheque out to 'Mansfield Building Society - [initial] [surname]' which implies that it doesn't have to be from your own account, but I know some building societies don't like this.

Is it strictly one deposit per month or can I make a subsequent deposit by Faster Payment once we have the passbooks?

I'd follow the instruction - 'Mansfield Building Society - [initial] [surname]'.  I don't think it matters what account the money is coming from.  There is nothing in t&c saying that the account can't be funded by somebody else.

Yes you can make subsequent deposits, "A maximum deposit of £250 per month applies. You can vary the amount and pay more than one deposit per month into the account."

pookey

Foxhouse said:

I'm a Member of the Meaningful Money Community Facebook group. 

It's amazing to me that folk on there, who you'd think would be more clued up than your average person, effectively arguing that regular savers aren't worth it because you "only get half the advertised rate" or words to that effect.

Latest one is someone from Santander 5.2% wanting to drip feed a Nationwide 8%, and he's being told not to bother as the 'real' rate of interest is only 4.1ish%, as opposed to the 5.2% he'd get in Santander.

Amazing logic fails.

Maybe you can add the link to the calculator on mse so they can see the difference 

Foxhouse

pookey said:

Foxhouse said:

I'm a Member of the Meaningful Money Community Facebook group. 

It's amazing to me that folk on there, who you'd think would be more clued up than your average person, effectively arguing that regular savers aren't worth it because you "only get half the advertised rate" or words to that effect.

Latest one is someone from Santander 5.2% wanting to drip feed a Nationwide 8%, and he's being told not to bother as the 'real' rate of interest is only 4.1ish%, as opposed to the 5.2% he'd get in Santander.

Amazing logic fails.

Maybe you can add the link to the calculator on mse so they can see the difference 

I did indeed add the link. A couple of folk who'd got it wrong were pleased with the input I think, and are now regular saver converts. 

tg99

Cambridge regular saver due to mature shortly. Cannot see any current reg saver offered but is it worth opening an easy access to maintain membership and thus qualify for any potential future member only offers? Looks like have to have min £100 in easy access though.

Barkin

tg99 said:

Cambridge regular saver due to mature shortly. Cannot see any current reg saver offered but is it worth opening an easy access to maintain membership and thus qualify for any potential future member only offers? Looks like have to have min £100 in easy access though.

I think it's worth it. The difference in return on £100 between the Your Saver at 4.65% and a top rate EA account is less than £1 a year.