Regular Savings Accounts: The Best Currently Available List!

snooloui

vermania said:

HSBC seems to have regressed with their regular saver. Last year, I could open it over the phone and it was opened on the same day (even at 9 o'clock in the evening). Having had the First Direct and M&S date slippage phenomenon, I was impressed with the immediate service. However, now you can only open it online or in branch, and it takes 1-2 working days to open. They can't be sure how long it'll take. The advice given over the phone suggested the opening date might not be able to be set at all now, but I will be trying in branch to see if I can set the opening date. Any actual experience from anyone would be helpful.

I opened one online earlier this week and it was funded and ready to go the same evening.

veryintrigued

Notts B.S Member Rewards R.S.
Not a new issue but the interest rate is reducing to 1% including bonus (from 1.6%) on the 1st April.

Remember that two penalty withdrawals are allowed in the year ending 31st March so might be a time to move the bulk to a Marcus and the like.

EdGasketTheSecond

veryintrigued said:

Notts B.S Member Rewards R.S.
Not a new issue but the interest rate is reducing to 1% including bonus (from 1.6%) on the 1st April.

Remember that two penalty withdrawals are allowed in the year ending 31st March so might be a time to move the bulk to a Marcus and the like.

...and lose your life savings:

https://www.youtube.com/watch?v=-yhiKtN4dRw

veryintrigued

EdGasketTheSecond said:

veryintrigued said:

Notts B.S Member Rewards R.S.
Not a new issue but the interest rate is reducing to 1% including bonus (from 1.6%) on the 1st April.

Remember that two penalty withdrawals are allowed in the year ending 31st March so might be a time to move the bulk to a Marcus and the like.

...and lose your life savings:

https://www.youtube.com/watch?v=-yhiKtN4dRw

Apologies - I got to ten seconds and switched off as my ears started bleeding.

Can you give me a Daily Mail apocalyptic, hysterical summary of the video please?

EdGasketTheSecond

I think you should do your own homework; but the gist is that the government or FDIC guarantee is guaranteeing a trillion of dodgy assets with only 1Bn so if it goes belly up, don't expect a bailout. I think Marcus can pay 2% because they are invested in oversea FX swaps = high risk.

colsten

EdGasketTheSecond said:

I think you should do your own homework; but the gist is that the government or FDIC guarantee is guaranteeing a trillion of dodgy assets with only 1Bn so if it goes belly up, don't expect a bailout. I think Marcus can pay 2% because they are invested in oversea FX swaps = high risk.

FDIC and whatever else this American is talking about is not relevant to the UK. Marcus never paid 2% in the UK, either, nor do they offer Regular Savers. Please start a separate thread if you want to discuss the apocalypse.

Trillionski

Hello, 
I have quite a chunk of money for my house which I have just put together and I won't be buying immediately at least not for a minimum 3 months(highly doubt). I didn't invest in a LISA just incase I needed to access the money before hand and I am looking to buy.

Which instant savings should I throw it into? My friend recommended marcus which is 1.3% variable but with the 0.5% in interest drop does that mean that will look like 0.8%?

colsten

Trillionski said:

Hello, 
I have quite a chunk of money for my house which I have just put together and I won't be buying immediately at least not for a minimum 3 months(highly doubt). I didn't invest in a LISA just incase I needed to access the money before hand and I am looking to buy.

Which instant savings should I throw it into? My friend recommended marcus which is 1.3% variable but with the 0.5% in interest drop does that mean that will look like 0.8%?

This is the Regular Savings Accounts thread. You are asking about Instant Access Accounts so you would be better advised to ask your question in a new thread. Though in a nutshell, nobody knows how interest rates will develop and you have to make your own choice from the vast range of instant access accounts.

SFindlay

Trillionski said:

Hello, 
I have quite a chunk of money for my house which I have just put together and I won't be buying immediately at least not for a minimum 3 months(highly doubt). I didn't invest in a LISA just incase I needed to access the money before hand and I am looking to buy.

Which instant savings should I throw it into? My friend recommended marcus which is 1.3% variable but with the 0.5% in interest drop does that mean that will look like 0.8%?

In short yes open Marcus or Cynergy which are top.paying with no restrictions and fire money in there. If things change you are free to withdraw it all and put it somewhere else whenever you want to. 

EdGasketTheSecond

If you want total safety then National Savings every time.

Why can Marcus offer above normal savings accounts rates? Reminds me of Kaupthing and Icesave when everyone was saying to open accounts with them. I never did but know a lot of people who lost money doing so.

If you watch that link I posted it will explain how Marcus is offering above mormal interest rates and then you can understand the risks.