Regular Savings Accounts: The Best Currently Available List!

janusd

easysaver said:

I've recently opened and funded the Gatehouse regular saver and it's the only one which requires funding from my nominated account.

they say that, but i've been funding it from their EA account via internal transfer - no issues so far.

surreysaver

FishInGlass said:

allegro120 said:

FishInGlass said:

Currently funding £2025 of a potential £3350 a month over 13 regular savers. I would be fund more of them but I am also trying to maintain the 4k in my Santander Edge Saver. I'll give the West Brom a miss though at the moment as it's below my funding threshold.

You can fund West Brom with £10 and don't have to make any further deposits.  If I was pushed to such a limit I would fund one on the other 6%ers £10 less in order to get this Brom account up and running. Most of your RSs probably have variable rates, West Brom is fixed.  We don't know what is going to happen with rates next year, but there is a good chance that some of these variables will be reducing their rates and West Brom might become something that you would've liked to have.  Also it is good to bare in mind that these account tend to be taken off the shelf fairly quickly.

Thanks for the advice. I've now decided to go ahead. I've opened their WebSave 60 day notice account which currently pays 5.25% anyway. I'll wait for my User ID and £10 deposit to be confirmed before trying to open the regular saver hopefully next week.

How do you get the username for the online banking?  Does it come with the welcome pack?

EDIT It came in the email I received shortly after typing this 

pecunianonolet

Can anyone clarify this please?

If I have to make a deposit every month I won't open, if I don't I may consider. Their Summary Box doesn't make sense and gives contradictory information imho. 

Do they say that I don't have to make a monthly deposit but if I do it has to be a minimum of £10?

soulsaver

WMBS RS 6.0%
@pecunianonolet If you don't make a deposit, that's ok; but if you do, it has to be £10 min. 
It's not the first we've seen like that..

Bridlington1

pecunianonolet said:

Can anyone clarify this please?

If I have to make a deposit every month I won't open, if I don't I may consider. Their Summary Box doesn't make sense and gives contradictory information imho. 

Do they say that I don't have to make a monthly deposit but if I do it has to be a minimum of £10?

My interpretation of that would be you don't have to make a deposit each month, but if you do it should be between £10 and £250.

adindas

I applied This Gate House RSA 7%. It is quite weird I have not got information whether the account is successfully opened and I got this message ?? 

"You have indicated that you want to make an initial deposit of £xxx
You can do this in one of the two following ways:

1) Make an online electronic payment from your Bank or Building Society:

You can fund your account easily by transferring money electronically from your nominated account held with another UK bank or building society. Simply tell your bank or building society:

    Our account number: [Removed by Forum Team]
    Held with: Barclays Bank
    Our account name: Gatehouse Bank plc
    Our Sort Code: [Removed by Forum Team]
    Reference: xxxxxx

Important: Please make sure you or your bank correctly quote the reference above, as without this we may have problems allocating your money to your account and could be forced to return it without profit. If you are funding your account by electronic money transfer, please make sure that your deposit amount is sent to us from your nominated account otherwise we will not be able to credit your deposit and the funds will be returned to you.

2) Send us a cheque:

You can make your first deposit using a cheque from any UK Bank or Building Society account in your name. This must be made payable to: Gatehouse Bank - [Removed by Forum Team]
Please send your initial deposit cheque to us at:
Gatehouse Bank
PO Box 861
Wallsend
NE28 5BP"

What I am worried here is that after funding it, the application is rejected. You might not lose the money but might be another unnecessary hassle, wasting time to get your money back ?? What do you think guy. Do you wait for acceptance confirmation or you fund it straight away after getting such message ??

adindas

easysaver said:

I've recently opened and funded the Gatehouse regular saver and it's the only one which requires funding from my nominated account. I'm losing track with so many regular savers and wondered if there are any other institutions that require deposits from your nominated account? I assume Aldermore and if they had one, Ford Money, would be like Gatehouse as per their savings accounts and the seem to use the same system as Gatehouse.

Bank of Scotland/Halifax/Lloyds
First Direct
Nationwide
NatWest/RBS
Coventry
Hinckley & Rugby
Leeds
Monmouthshire
Penrith
Principality
Saffron
Skipton
Yorkshire Building Society

I wonder why LEEDS ??

https://www.leedsbuildingsociety.co.uk/savings/regular-saver/regular-saver/

Interest rate: 5.25%, Withdrawals are limited to 1 each year without loss of interest (including account closure)

Have I missed something here ??

For Penrith

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

"This account is available to Heartland residents or existing members of the Society and can be opened in branch or by post. (To be classed as an existing member you must have held either a savings account or a mortgage for at least the last 12 months. Heartland is defined as Cumbria, Northumberland, Tyne & Wear, County Durham, Lancashire and Yorkshire) "

Has anyone who are not Heartland residents or existing members tried their luck ??

Bigwheels1111

adindas said:

I applied This Gate House RSA 7%. It is quite weird I have not got information whether the account is successfully opened and I got this message ?? 

"You have indicated that you want to make an initial deposit of £xxx
You can do this in one of the two following ways:

1) Make an online electronic payment from your Bank or Building Society:

You can fund your account easily by transferring money electronically from your nominated account held with another UK bank or building society. Simply tell your bank or building society:

    Our account number: [Removed by Forum Team]
    Held with: Barclays Bank
    Our account name: Gatehouse Bank plc
    Our Sort Code: [Removed by Forum Team]
    Reference: xxxxxx

Important: Please make sure you or your bank correctly quote the reference above, as without this we may have problems allocating your money to your account and could be forced to return it without profit. If you are funding your account by electronic money transfer, please make sure that your deposit amount is sent to us from your nominated account otherwise we will not be able to credit your deposit and the funds will be returned to you.

2) Send us a cheque:

You can make your first deposit using a cheque from any UK Bank or Building Society account in your name. This must be made payable to: Gatehouse Bank - 956552668
Please send your initial deposit cheque to us at:
Gatehouse Bank
PO Box 861
Wallsend
NE28 5BP"

What I am worried here is that after funding it, the application is rejected. You might not lose the money but might be another unnecessary hassle, wasting time to get your money back ?? What do you think guy. Do you wait for acceptance confirmation or you fund it straight away after getting such as email ??

I just funded mine at that point via bank transfer and 2 hours later it was up and running, with a £300 balance.

2 day later on the first I paid in £300 more.

Bridlington1

adindas said:

easysaver said:

I've recently opened and funded the Gatehouse regular saver and it's the only one which requires funding from my nominated account. I'm losing track with so many regular savers and wondered if there are any other institutions that require deposits from your nominated account? I assume Aldermore and if they had one, Ford Money, would be like Gatehouse as per their savings accounts and the seem to use the same system as Gatehouse.

Bank of Scotland/Halifax/Lloyds
First Direct
Nationwide
NatWest/RBS
Coventry
Hinckley & Rugby
Leeds
Monmouthshire
Penrith
Principality
Saffron
Skipton
Yorkshire Building Society

I wonder why LEEDS ??

https://www.leedsbuildingsociety.co.uk/savings/regular-saver/regular-saver/

Interest rate: 5.25%, Withdrawals are limited to 1 each year without loss of interest (including account closure)

Have I missed something here ??

For Penrith

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

"This account is available to Heartland residents or existing members of the Society and can be opened in branch or by post. (To be classed as an existing member you must have held either a savings account or a mortgage for at least the last 12 months. Heartland is defined as Cumbria, Northumberland, Tyne & Wear, County Durham, Lancashire and Yorkshire) "

Has anyone who are not Heartland residents or existing members tried their luck ??

Top currently available EA account pays 5.22%, Leeds pays 5.25% so a 0.03% difference. It also takes a while to build up the balance in a regular saver but you can put more in an EA account in one go. If a regular saver pays about the same as my top EA account I tend to favour adding spare funds to the regular saver to hedge my bets a bit since if EA rates drop but the regular saver doesn't then I've got a large balance in a regular saver paying more than the top EA account and if the regular saver rate drops but EA rats don't then I still have the option to empty the regular saver if necessary. 

I can't help you with Penrith though as I live in their "Heartland" and was an existing member to start with.

soulsaver

So, to summarise West Broms 6.00% reg saver:

The 6.00% is fixed.

A Web Saver qualifies as existing customer - but you may have to argue... or failing that..:

You can become an existing customer by opening an EA account followed next day application for the RS (needs an overnight run).

ID: Two pics of the same doc works if they satisfy both requirements for both EA & RS - my passport twice.. twice - (had to do it again for the RS) worked and another poster said driving licence did.

You can possibly open the RS without funding the EA (I did, but my £1 was inflight), but why risk it for just a £1..

Both accounts can be viewed (and managed by message) via the portal - need to call day after you get EA ac number (email followed by overnight run) to set up the portal access (PIN).

For portal access  (not the usual stuff..) Click 'log in' top right on home screen, then Account number + DoB+ your chosen 4 digit PIN... gets you in.

It doesn't require monthly funding, you can miss payments after initial £10 min. But if you make a deposit, it's £10 min, £250 in a calendar month max - so, no catch up on missed months.

No withdrawals allowed in the 12 months. 

No monthly option for interest.

Anything else?