Regular Savings Accounts: The Best Currently Available List!

Kim_13

Would open if the minimum monthly deposit was lower, as I’d like a competitive Hanley BS account that isn’t a closed issue, but while I can save £300 per month at 7.5%+ fixed, this account doesn’t make any sense. I maintain SRBS despite it not being as competitive as it once was as I am a fan of open ended accounts.

grumbler

refluxer said:

These were the figures from the MSE RS calculator, which I just used for ease. Looks like it isn't calculating the easy access interest correctly ?

Drip-feeding the regular saver (5.50%)

After drip-feeding the cash for 12 months, you'd have earned...

£645 in interest
£355 from the regular saver + £290 from the normal savings account

6500*5.5%=357.50

5500*5.22%=287.10

small discrepancies can possibly be explained by varying number of days in months

Leaving it in normal savings (5.22%}

If you'd kept the cash in normal savings without drip-feeding it, you'd have earned...
£612 in interest

12000*5.22%=626.40

MSE 'geeks' never excelled in mathematics. Have they fixed their Premium Bonds calculator at last?

357.50+ 287.10-626.40=...

ForumUser7

Kim_13 said:

Would open if the minimum monthly deposit was lower, as I’d like a competitive Hanley BS account that isn’t a closed issue, but while I can save £300 per month at 7.5%+ fixed, this account doesn’t make any sense. I maintain SRBS despite it not being as competitive as it once was as I am a fan of open ended accounts.

SRBS seems worth maintaining too, as the monthly min pay in is 10% of Hanley's. Shame Hanley didn't opt for a lower monthly pay in and minimum balance.

Malchester

Just looked at Hanley account. It seems that it doesn't accept direct transfer from nominated account, only by debit card. Is that correct? Thanks 

One.time

ForumUser7 said:

Kim_13 said:

Would open if the minimum monthly deposit was lower, as I’d like a competitive Hanley BS account that isn’t a closed issue, but while I can save £300 per month at 7.5%+ fixed, this account doesn’t make any sense. I maintain SRBS despite it not being as competitive as it once was as I am a fan of open ended accounts.

SRBS seems worth maintaining too, as the monthly min pay in is 10% of Hanley's. Shame Hanley didn't opt for a lower monthly pay in and minimum balance.

Is that the 5.15%??? Why is it so worth considering??? 

ForumUser7

One.time said:

ForumUser7 said:

Kim_13 said:

Would open if the minimum monthly deposit was lower, as I’d like a competitive Hanley BS account that isn’t a closed issue, but while I can save £300 per month at 7.5%+ fixed, this account doesn’t make any sense. I maintain SRBS despite it not being as competitive as it once was as I am a fan of open ended accounts.

SRBS seems worth maintaining too, as the monthly min pay in is 10% of Hanley's. Shame Hanley didn't opt for a lower monthly pay in and minimum balance.

Is that the 5.15%??? Why is it so worth considering??? 

The rate has sometimes been competitive and they sometimes put restrictions on new applications so it is Staffordshire residents only. Means it is worth holding imo in case that restriction comes back, and the rate becomes more competitive, or drops at a slower rate than others when the base rate inevitably falls.

flaneurs_lobster

Malchester said:

Just looked at Hanley account. It seems that it doesn't accept direct transfer from nominated account, only by debit card. Is that correct? Thanks 

No.

From the KPI

You can make subscriptions by Standing Order, Bank Transfer or Debit Card. Please note Debit Card deposits can be only be made via the Online Portal/Mobile App.

Malchester

flaneurs_lobster said:

Malchester said:

Just looked at Hanley account. It seems that it doesn't accept direct transfer from nominated account, only by debit card. Is that correct? Thanks 

No.

From the KPI

You can make subscriptions by Standing Order, Bank Transfer or Debit Card. Please note Debit Card deposits can be only be made via the Online Portal/Mobile App.

Thanks for that. On the Online FAQs it says to make a deposit on the mobile app click make a deposit which takes you to the WorldPay screen where you enter your card details. But if it is on a laptop I assume it can be done by faster payment.

flaneurs_lobster

Malchester said:

flaneurs_lobster said:

Malchester said:

Just looked at Hanley account. It seems that it doesn't accept direct transfer from nominated account, only by debit card. Is that correct? Thanks 

No.

From the KPI

You can make subscriptions by Standing Order, Bank Transfer or Debit Card. Please note Debit Card deposits can be only be made via the Online Portal/Mobile App.

Thanks for that. On the Online FAQs it says to make a deposit on the mobile app click make a deposit which takes you to the WorldPay screen where you enter your card details. But if it is on a laptop I assume it can be done by faster payment.

Yep that's my reading, although if you have the account details (I don't yet) guess you just need to set up a payment from your nominated bank account.

friolento

Malchester said:

Just looked at Hanley account. It seems that it doesn't accept direct transfer from nominated account, only by debit card. Is that correct? Thanks 

You can set up an SO, or make one-off payments into the Hanley RS. I don't know whether they check that payments come from the nominated account. I have only seen that withdrawal must be made to the nominated account.