Regular Savings Accounts: The Best Currently Available List!

Wheres_My_Cashback

AmityNeon said:

Speculator said:

gt94sss2 said:

The one thing I would add to @soulsaver's list is that when transferring money to the West Brom from elsewhere use your own name as the payee.

For some reason their website/emails says the payee should be West Bromwich Building Society but this is in fact incorrect according to their staff.

Each account number is unique - they are not holding accounts.

You only use West Bromwich BS as the payee for their websave accounts. They still use Barclays as their bankers for all their websave accounts.

According to the WeBSave FAQs the beneficiary should be "WestBrom WeBSave" for WeBSave accounts, but the problem lies with the Savings FAQs for their other accounts:

Payee Name: West Bromwich Building Society
Account Number: Your 8 digit West Brom account number
Sort Code: [Removed by Forum Team]
It is important that you quote all details correctly when making a transaction.

The irony of that last sentence when their own bank staff call it out. It doesn't quite make sense to use a business for the payee name when the institution has its own sort code, allocates unique account numbers, and secondary reference data is not required. They're still not part of Confirmation of Payee anyway so it matters less, but they should be after 31 October 2024.

allegro120 said:

I've put West Bromwich Building Society as payee, it was confirmed by CoP and payment went through.

Are you sure it was confirmed by CoP?

It's all semantics as you can really put anything you like as the payee on any account until COP is fully implemented.

soulsaver

pecunianonolet said:

soulsaver said:

Couple of minor amends:

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.

Quite a lot of work to get hold of this account in the end.

Not really, easier done than said... sounds more complex than it is 'cos it's a bit different than usual.

allegro120

AmityNeon said:

Speculator said:

gt94sss2 said:

The one thing I would add to @soulsaver's list is that when transferring money to the West Brom from elsewhere use your own name as the payee.

For some reason their website/emails says the payee should be West Bromwich Building Society but this is in fact incorrect according to their staff.

Each account number is unique - they are not holding accounts.

You only use West Bromwich BS as the payee for their websave accounts. They still use Barclays as their bankers for all their websave accounts.

According to the WeBSave FAQs the beneficiary should be "WestBrom WeBSave" for WeBSave accounts, but the problem lies with the Savings FAQs for their other accounts:

Payee Name: West Bromwich Building Society
Account Number: Your 8 digit West Brom account number
Sort Code: [Removed by Forum Team]
It is important that you quote all details correctly when making a transaction.

The irony of that last sentence when their own bank staff call it out. It doesn't quite make sense to use a business for the payee name when the institution has its own sort code, allocates unique account numbers, and secondary reference data is not required. They're still not part of Confirmation of Payee anyway so it matters less, but they should be after 31 October 2024.

allegro120 said:

I've put West Bromwich Building Society as payee, it was confirmed by CoP and payment went through.

Are you sure it was confirmed by CoP?

Yes, I've sent funds from FD snd had the usual "confirmed" tick. 

soulsaver

allegro120 said:

AmityNeon said:

Speculator said:

gt94sss2 said:

The one thing I would add to @soulsaver's list is that when transferring money to the West Brom from elsewhere use your own name as the payee.

For some reason their website/emails says the payee should be West Bromwich Building Society but this is in fact incorrect according to their staff.

Each account number is unique - they are not holding accounts.

You only use West Bromwich BS as the payee for their websave accounts. They still use Barclays as their bankers for all their websave accounts.

According to the WeBSave FAQs the beneficiary should be "WestBrom WeBSave" for WeBSave accounts, but the problem lies with the Savings FAQs for their other accounts:

Payee Name: West Bromwich Building Society
Account Number: Your 8 digit West Brom account number
Sort Code: 40 64 36
It is important that you quote all details correctly when making a transaction.

The irony of that last sentence when their own bank staff call it out. It doesn't quite make sense to use a business for the payee name when the institution has its own sort code, allocates unique account numbers, and secondary reference data is not required. They're still not part of Confirmation of Payee anyway so it matters less, but they should be after 31 October 2024.

allegro120 said:

I've put West Bromwich Building Society as payee, it was confirmed by CoP and payment went through.

Are you sure it was confirmed by CoP?

Yes, I've sent funds from FD snd had the usual "confirmed" tick. 

Santander says it isn't in COP when I sent both of mine, EA & Reg Svr- but it recognises West Brom BS from the sort code.

allegro120

soulsaver said:

pecunianonolet said:

soulsaver said:

Couple of minor amends:

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.

Quite a lot of work to get hold of this account in the end.

Not really, easier done than said... sounds more complex than it is 'cos it's a bit different than usual.

I give it 8 out of 10 for the easy opening score. Fill in your basic details, upload ID pictures and get the account opened next day - I didn't find this difficult.  

AmityNeon

allegro120 said:

AmityNeon said:

Speculator said:

gt94sss2 said:

The one thing I would add to @soulsaver's list is that when transferring money to the West Brom from elsewhere use your own name as the payee.

For some reason their website/emails says the payee should be West Bromwich Building Society but this is in fact incorrect according to their staff.

Each account number is unique - they are not holding accounts.

You only use West Bromwich BS as the payee for their websave accounts. They still use Barclays as their bankers for all their websave accounts.

According to the WeBSave FAQs the beneficiary should be "WestBrom WeBSave" for WeBSave accounts, but the problem lies with the Savings FAQs for their other accounts:

Payee Name: West Bromwich Building Society
Account Number: Your 8 digit West Brom account number
Sort Code: 40 64 36
It is important that you quote all details correctly when making a transaction.

The irony of that last sentence when their own bank staff call it out. It doesn't quite make sense to use a business for the payee name when the institution has its own sort code, allocates unique account numbers, and secondary reference data is not required. They're still not part of Confirmation of Payee anyway so it matters less, but they should be after 31 October 2024.

allegro120 said:

I've put West Bromwich Building Society as payee, it was confirmed by CoP and payment went through.

Are you sure it was confirmed by CoP?

Yes, I've sent funds from FD snd had the usual "confirmed" tick.

Strange. Whether it's my name or 'West Bromwich Building Society', Personal or Business, attempting a payment with First Direct results in: Unable to check details, We can't check the details you entered, as their bank doesn't offer this service. Please check with the payee directly.

where_are_we

Hanley E.B.S. - RS - I have not yet received by post my user ID (I am unable to log in and also set up the App) but I have had an email noticing no opening deposit yet. This contained my account number which is the same as my application reference. My account was opened in the middle of December so at least I can make an opening deposit this month - "The account must be opened with £1,000.** Please note accounts which are opened on or after 21st December 2023 will be processed from the 2nd January 2024."

adindas

Wheres_My_Cashback said:

adindas said:

Bigwheels1111 said:

adindas said:

Bigwheels1111 said:

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: 93511057
    Held with: Barclays Bank
    Our account name: Gatehouse Bank plc
    Our Sort Code: 20-32-53
    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.

I just notice they send an email

Funding your Account
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:

• that you would like to make an electronic payment
• the account the money is to be transferred from
• our Account Number: 93511057
• our sort code: 20-32-53
• our Account Name: Gatehouse Bank plc
• reference: your reference number (generated at the end of your online application) or your account number

I manage to see the account online after getting email for UN

Which one to use Ref Number or A/C Number

Ref No: XXXXXXXX - Family Name
A/C No: REGXXXXXX1AAA

I guess better to use the A/C number rather than ref number. But just want to make sure, what do you think ??

All of them, unless you have an easy access with them.
As can be funded via it.
I think they use Barclays Bank for transfers.
So, sort code 20-32-53,Account number 93511057 name is Gatehouse Bank Ltd, business not personal,
then your 8 digit account number in the reference box.
I called my bank to set it up as was easier for me.

Considering tomorrow is weekend, I just sent the first payment using FP. Also I already set up a SO to be taken every first day in the month.

My A/C No: REGXXXXXX1AAA

Also I just saw a message saying to verify the Link account which will be sent via post, presumably this is just for withdrawal purposes.

Won't be added to the account until next Wednesday. payments need to be received by 1300 to be added on the day, otherwise it's next working day.

Got a text message this morning that the deposit received. I went to my online banking it is already credited, as shown in the balance. Impress with Gatehouse.

Wheres_My_Cashback

adindas said:

Wheres_My_Cashback said:

adindas said:

Bigwheels1111 said:

adindas said:

Bigwheels1111 said:

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: 93511057
    Held with: Barclays Bank
    Our account name: Gatehouse Bank plc
    Our Sort Code: 20-32-53
    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.

I just notice they send an email

Funding your Account
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:

• that you would like to make an electronic payment
• the account the money is to be transferred from
• our Account Number: 93511057
• our sort code: 20-32-53
• our Account Name: Gatehouse Bank plc
• reference: your reference number (generated at the end of your online application) or your account number

I manage to see the account online after getting email for UN

Which one to use Ref Number or A/C Number

Ref No: XXXXXXXX - Family Name
A/C No: REGXXXXXX1AAA

I guess better to use the A/C number rather than ref number. But just want to make sure, what do you think ??

All of them, unless you have an easy access with them.
As can be funded via it.
I think they use Barclays Bank for transfers.
So, sort code 20-32-53,Account number 93511057 name is Gatehouse Bank Ltd, business not personal,
then your 8 digit account number in the reference box.
I called my bank to set it up as was easier for me.

Considering tomorrow is weekend, I just sent the first payment using FP. Also I already set up a SO to be taken every first day in the month.

My A/C No: REGXXXXXX1AAA

Also I just saw a message saying to verify the Link account which will be sent via post, presumably this is just for withdrawal purposes.

Won't be added to the account until next Wednesday. payments need to be received by 1300 to be added on the day, otherwise it's next working day.

Got a text message this morning that the deposit received. I went to my online banking it is already credited, as shown in the balance. Impress with Gatehouse.

That's interesting as they state ...

If you make a deposit before 1pm on a working day, funds will show on your account by close of business the same day. Deposits after 1pm, will show by close of business the following day.

allegro120

Wheres_My_Cashback said:

adindas said:

Wheres_My_Cashback said:

adindas said:

Bigwheels1111 said:

adindas said:

Bigwheels1111 said:

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: 93511057
    Held with: Barclays Bank
    Our account name: Gatehouse Bank plc
    Our Sort Code: 20-32-53
    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.

I just notice they send an email

Funding your Account
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:

• that you would like to make an electronic payment
• the account the money is to be transferred from
• our Account Number: 93511057
• our sort code: 20-32-53
• our Account Name: Gatehouse Bank plc
• reference: your reference number (generated at the end of your online application) or your account number

I manage to see the account online after getting email for UN

Which one to use Ref Number or A/C Number

Ref No: XXXXXXXX - Family Name
A/C No: REGXXXXXX1AAA

I guess better to use the A/C number rather than ref number. But just want to make sure, what do you think ??

All of them, unless you have an easy access with them.
As can be funded via it.
I think they use Barclays Bank for transfers.
So, sort code 20-32-53,Account number 93511057 name is Gatehouse Bank Ltd, business not personal,
then your 8 digit account number in the reference box.
I called my bank to set it up as was easier for me.

Considering tomorrow is weekend, I just sent the first payment using FP. Also I already set up a SO to be taken every first day in the month.

My A/C No: REGXXXXXX1AAA

Also I just saw a message saying to verify the Link account which will be sent via post, presumably this is just for withdrawal purposes.

Won't be added to the account until next Wednesday. payments need to be received by 1300 to be added on the day, otherwise it's next working day.

Got a text message this morning that the deposit received. I went to my online banking it is already credited, as shown in the balance. Impress with Gatehouse.

That's interesting as they state ...

If you make a deposit before 1pm on a working day, funds will show on your account by close of business the same day. Deposits after 1pm, will show by close of business the following day.

They state this, but in my experience weekend morning deposits arrive on the same day at around 1pm.