Regular Savings Accounts: The Best Currently Available List!

brucefan_2

francoghezzi said:

Just about to send funds to Gatehouse RS (I was thinking of dripfeeding from RBS 6.17% where I have exactly £3600 needed). I have already Nationwide 8%, Fd 7% and Coventry 7% so the Gatehouse RS looks a good match, but I must say I have never heard of this bank and so am in need of a review from someone who had experience with them. Any positive or negative thoughts before I give the green light with my first deposit? Many thanks for your help

I have limited experience of Gatehouse but all good so far.

Opening an RS as an existing customer was very quick and efficient.

Deposits can take a while to show up in app but I've not encountered any difficulties with them so far. Notifications of deposits are solid.

Full FSCS is in place anyway

Thumbs_Up

I'm on record with comments about not being a fanboy for regular saver accounts, although i do have the First Direct RS, Coventry HS, NatWest DS. I think i might yield and come Monday open up the Gatehouse RS.  

SJMALBA

francoghezzi said:

Just about to send funds to Gatehouse RS (I was thinking of dripfeeding from RBS 6.17% where I have exactly £3600 needed). I have already Nationwide 8%, Fd 7% and Coventry 7% so the Gatehouse RS looks a good match, but I must say I have never heard of this bank and so am in need of a review from someone who had experience with them. Any positive or negative thoughts before I give the green light with my first deposit? Many thanks for your help

FWIW, I've had a number of accounts with Gatehouse for just over a year, and they've been excellent... touch wood!

(usual disclaimer: no connection, other than being (thus far) a satisfied customer)

Speculator

poshrule_uk said:

Speculator said:

PRAISETHESUN said:

Bigwheels1111 said:

Wheres_My_Cashback said:

janusdesign said:

wiseonesomeofthetime said:

Wheres_My_Cashback said:

allegro120 said:

janusdesign said:

allegro120 said:

flaneurs_lobster said:

Bridlington1 said:

trickydicky14 said:

Bridlington1 said:

pokemaster said:

Gatehouse Bank Regular Saver 7% (paid at maturity)

£300 Max Per Month pay in

Source: Money Facts

Worth noting that although the rate is variable, no withdrawals/closure are allowed until the end of the term, unless the rate is reduced. 

I see you can carry over payments and miss payments plus min pay in is a £1 so I think it's worth a punt.

You can't carry over payments from previous months. From the terms:

I'd agree though that with a £1 minimum deposit and the ability to skip months it is worth opening, though £1 is all they're getting from me for the next few months at least due to my circumstances.

Will it be possible to open and fund before end of November? 

Yes, I just did it. Funded from GH easy access.  Although it says it can take up to 3 days, funds appeared in new RS account immediately.

many thanks for posting about the speed of EA payments - I was on that exact page of the application when you posted, dithering about whether to fund from nominated account or GH EA... as you say, EA transfer was instant... it seems you can make manual transfers from EA to RS too, so although the t&c says that deposits are only accepted from the nominated account, it looks like internal transfers might be acceptable too for future deposits.

I've just looked on the app and the option to transfer from EA to RS is there, so i think you are right.  I'll definitely try it for my 2nd payment on Friday.   

Only need to do it once as you can set up an internal recurring transaction to move the funds monthly on whatever date you stipulate.

I set up a scheduled transfer from EA to RS, via the app, for 1st December, but didn't notice a recurring option. Will take another look now, thanks 👍

I couldn't see a scheduled option in the Android app, though it is there when I log into the online banking site - personally, i'll do it manually each month on the 1st as I have others to do on the same day.

while i'm here, my First Direct RS gets it's 12th payment on Saturday (or soon after) - should I manually remove the standing order afterwards, or will FD do that automatically after maturity on 2nd Jan ?

When FD set it up they do it for 12 payments so it will automatically cancel after the 12th payment has gone.

FD works great apart form taking upto 5 days to pay funds, close account and DD.

As soon as they do I start a new Regular saver with them.

For FD, if you open a generic savings account before maturity (or have one left over from a previously matured RS), then the process is quicker. Also in a pinch you can call them and get them to manually transfer the maturing funds to your current account if you need the money sooner

My FD regular mature today and the interest has been added. Still says "Regular Saver" but rate is now 2%. Is there anything stopping me from transferring money to my Santander 5.2% instant access or do I need to wait 5 working days for it to "mature".

Nebulous2 said:

Speculator said:

PRAISETHESUN said:

Bigwheels1111 said:

Wheres_My_Cashback said:

janusdesign said:

wiseonesomeofthetime said:

Wheres_My_Cashback said:

allegro120 said:

janusdesign said:

allegro120 said:

flaneurs_lobster said:

Bridlington1 said:

trickydicky14 said:

Bridlington1 said:

pokemaster said:

Gatehouse Bank Regular Saver 7% (paid at maturity)

£300 Max Per Month pay in

Source: Money Facts

Worth noting that although the rate is variable, no withdrawals/closure are allowed until the end of the term, unless the rate is reduced. 

I see you can carry over payments and miss payments plus min pay in is a £1 so I think it's worth a punt.

You can't carry over payments from previous months. From the terms:

I'd agree though that with a £1 minimum deposit and the ability to skip months it is worth opening, though £1 is all they're getting from me for the next few months at least due to my circumstances.

Will it be possible to open and fund before end of November? 

Yes, I just did it. Funded from GH easy access.  Although it says it can take up to 3 days, funds appeared in new RS account immediately.

many thanks for posting about the speed of EA payments - I was on that exact page of the application when you posted, dithering about whether to fund from nominated account or GH EA... as you say, EA transfer was instant... it seems you can make manual transfers from EA to RS too, so although the t&c says that deposits are only accepted from the nominated account, it looks like internal transfers might be acceptable too for future deposits.

I've just looked on the app and the option to transfer from EA to RS is there, so i think you are right.  I'll definitely try it for my 2nd payment on Friday.   

Only need to do it once as you can set up an internal recurring transaction to move the funds monthly on whatever date you stipulate.

I set up a scheduled transfer from EA to RS, via the app, for 1st December, but didn't notice a recurring option. Will take another look now, thanks 👍

I couldn't see a scheduled option in the Android app, though it is there when I log into the online banking site - personally, i'll do it manually each month on the 1st as I have others to do on the same day.

while i'm here, my First Direct RS gets it's 12th payment on Saturday (or soon after) - should I manually remove the standing order afterwards, or will FD do that automatically after maturity on 2nd Jan ?

When FD set it up they do it for 12 payments so it will automatically cancel after the 12th payment has gone.

FD works great apart form taking upto 5 days to pay funds, close account and DD.

As soon as they do I start a new Regular saver with them.

For FD, if you open a generic savings account before maturity (or have one left over from a previously matured RS), then the process is quicker. Also in a pinch you can call them and get them to manually transfer the maturing funds to your current account if you need the money sooner

My FD regular mature today and the interest has been added. Still says "Regular Saver" but rate is now 2%. Is there anything stopping me from transferring money to my Santander 5.2% instant access or do I need to wait 5 working days for it to "mature".

I'm exactly the same - with the same destination in mind, but its my first regular saver with FD so I'm just going to wait and let the process take its course. 

My FD has just matured and I spoke to there chat service and 10 minutes later I had the money.

Thanks. Did the same and money instantly transferred to my current a/c. Regular saver converted to an instant access account.

allegro120

francoghezzi said:

Just about to send funds to Gatehouse RS (I was thinking of dripfeeding from RBS 6.17% where I have exactly £3600 needed). I have already Nationwide 8%, Fd 7% and Coventry 7% so the Gatehouse RS looks a good match, but I must say I have never heard of this bank and so am in need of a review from someone who had experience with them. Any positive or negative thoughts before I give the green light with my first deposit? Many thanks for your help

I've never had any problems with Gatehouse.

dcs34

Pkman said:

Just to confirm, no one found an easy way to open aib rs for new customer???

It seems you need to have an existing online customer profile and hence need to have opened another product first.

The current account ('Classic Account'), easy access savings ('Select Account'), ISA ('Cash ISA') and fixed savings ('Fixed Rate Saver' or 'Fixed Term Deposit Account') accounts all require a visit to a branch in NI to open them.

However it does seem that you can apply for a credit card online (https://aibni.co.uk/our-products/credit-cards). There are options to call them or post a printed application form for the 'Options One' and 'Options Two' cards.

There is also a form to register for online service (https://aibni.co.uk/personal-docs/ways-to-bank/online-apply-website.pdf) which asks you to provide a bank account or credit card number (presumably for an AIB account of course!). This would imply that holding a credit card will entitle you to request an online account.

Once you have that online customer profile you should then theoretically be able to apply for the Regular Saver via the online account.

Assuming that getting to a branch in NI is not easy for you it doesn't appear there is a simple method, the above is quite a bit more convoluted than seems reasonable for a 6% variable account.

Happy to be proven wrong though!

Wheres_My_Cashback

dcs34 said:

Pkman said:

Just to confirm, no one found an easy way to open aib rs for new customer???

It seems you need to have an existing online customer profile and hence need to have opened another product first.

The current account ('Classic Account'), easy access savings ('Select Account'), ISA ('Cash ISA') and fixed savings ('Fixed Rate Saver' or 'Fixed Term Deposit Account') accounts all require a visit to a branch in NI to open them.

However it does seem that you can apply for a credit card online (https://aibni.co.uk/our-products/credit-cards). There are options to call them or post a printed application form for the 'Options One' and 'Options Two' cards.

There is also a form to register for online service (https://aibni.co.uk/personal-docs/ways-to-bank/online-apply-website.pdf) which asks you to provide a bank account or credit card number (presumably for an AIB account of course!). This would imply that holding a credit card will entitle you to request an online account.

Once you have that online customer profile you should then theoretically be able to apply for the Regular Saver via the online account.

Assuming that getting to a branch in NI is not easy for you it doesn't appear there is a simple method, the above is quite a bit more convoluted than seems reasonable for a 6% variable account.

Happy to be proven wrong though!

Can't think why anyone would want to put a full credit search on their record as an enabler to opening an average RS a/c with an Irish bank where banks are years behind those of Britain. Would anyone really be that desperate?

Bridlington1

Wheres_My_Cashback said:

dcs34 said:

Pkman said:

Just to confirm, no one found an easy way to open aib rs for new customer???

It seems you need to have an existing online customer profile and hence need to have opened another product first.

The current account ('Classic Account'), easy access savings ('Select Account'), ISA ('Cash ISA') and fixed savings ('Fixed Rate Saver' or 'Fixed Term Deposit Account') accounts all require a visit to a branch in NI to open them.

However it does seem that you can apply for a credit card online (https://aibni.co.uk/our-products/credit-cards). There are options to call them or post a printed application form for the 'Options One' and 'Options Two' cards.

There is also a form to register for online service (https://aibni.co.uk/personal-docs/ways-to-bank/online-apply-website.pdf) which asks you to provide a bank account or credit card number (presumably for an AIB account of course!). This would imply that holding a credit card will entitle you to request an online account.

Once you have that online customer profile you should then theoretically be able to apply for the Regular Saver via the online account.

Assuming that getting to a branch in NI is not easy for you it doesn't appear there is a simple method, the above is quite a bit more convoluted than seems reasonable for a 6% variable account.

Happy to be proven wrong though!

Can't think why anyone would want to put a full credit search on their record as an enabler to opening an average RS a/c with an Irish bank where banks are years behind those of Britain. Would anyone really be that desperate?

If you're not going to be applying for credit within the next year then I see little harm in opening another credit card so that you can get a 6% RS, I know I would, though it has become part hobby to be fair. An AIB credit card would also give you a spare DD for bank switching so could be useful in that respect.

Regardless though after looking at their credit cards again it appears they're all limited to existing customers, I'd somehow managed to miss that detail when looking the first time so apologies for that. Their credit cards do have a postal application form so quite how strict they are at enforcing this term I do not know but I'd imagine it would be a long shot.

flaneurs_lobster

Wheres_My_Cashback said:

dcs34 said:

Pkman said:

Just to confirm, no one found an easy way to open aib rs for new customer???

It seems you need to have an existing online customer profile and hence need to have opened another product first.

The current account ('Classic Account'), easy access savings ('Select Account'), ISA ('Cash ISA') and fixed savings ('Fixed Rate Saver' or 'Fixed Term Deposit Account') accounts all require a visit to a branch in NI to open them.

However it does seem that you can apply for a credit card online (https://aibni.co.uk/our-products/credit-cards). There are options to call them or post a printed application form for the 'Options One' and 'Options Two' cards.

There is also a form to register for online service (https://aibni.co.uk/personal-docs/ways-to-bank/online-apply-website.pdf) which asks you to provide a bank account or credit card number (presumably for an AIB account of course!). This would imply that holding a credit card will entitle you to request an online account.

Once you have that online customer profile you should then theoretically be able to apply for the Regular Saver via the online account.

Assuming that getting to a branch in NI is not easy for you it doesn't appear there is a simple method, the above is quite a bit more convoluted than seems reasonable for a 6% variable account.

Happy to be proven wrong though!

Can't think why anyone would want to put a full credit search on their record as an enabler to opening an average RS a/c with an Irish bank where banks are years behind those of Britain. Would anyone really be that desperate?

That's a bit dismissive of the 2M people who live in NI, looks like you can run this account via a branch with no need for a current account/hard credit check. 

6% on £500/month is a decent proffer.

Wheres_My_Cashback

flaneurs_lobster said:

Wheres_My_Cashback said:

dcs34 said:

Pkman said:

Just to confirm, no one found an easy way to open aib rs for new customer???

It seems you need to have an existing online customer profile and hence need to have opened another product first.

The current account ('Classic Account'), easy access savings ('Select Account'), ISA ('Cash ISA') and fixed savings ('Fixed Rate Saver' or 'Fixed Term Deposit Account') accounts all require a visit to a branch in NI to open them.

However it does seem that you can apply for a credit card online (https://aibni.co.uk/our-products/credit-cards). There are options to call them or post a printed application form for the 'Options One' and 'Options Two' cards.

There is also a form to register for online service (https://aibni.co.uk/personal-docs/ways-to-bank/online-apply-website.pdf) which asks you to provide a bank account or credit card number (presumably for an AIB account of course!). This would imply that holding a credit card will entitle you to request an online account.

Once you have that online customer profile you should then theoretically be able to apply for the Regular Saver via the online account.

Assuming that getting to a branch in NI is not easy for you it doesn't appear there is a simple method, the above is quite a bit more convoluted than seems reasonable for a 6% variable account.

Happy to be proven wrong though!

Can't think why anyone would want to put a full credit search on their record as an enabler to opening an average RS a/c with an Irish bank where banks are years behind those of Britain. Would anyone really be that desperate?

That's a bit dismissive of the 2M people who live in NI, looks like you can run this account via a branch with no need for a current account/hard credit check. 

6% on £500/month is a decent proffer./

Well you've certainly taken that out of context and totally misunderstood !! Current accounts ?