Regular Savings Accounts: The Best Currently Available List!

PloughmansLunch

allegro120 said:

adindas said:

TSB RSA is now paying 6.0%. This is gem as it is Immediate access to your money with no withdrawal charges

@ 6.00% Gross/AER.

https://www.tsb.co.uk/savings/monthly-saver/

Has anyone tried recently whether to close the old one and immediately reopen a new one still work ?? If my memory serves well and not confused with other RSA, it did not work for me any longer. The only exception is if you reopen a new Current account and use this a foundation to open a RSA.

I've closed the old 5% early and tried to open new 6%.  The system didn't let me do that, I'll have to wait until 12 months anniversary.  I didn't think of opening another current account as a foundation for new RS, does it really work?

I had 2 x Spend & Save accounts and switched out the older TSB account a few months ago that the original RS was linked to & closed the 5% RS not long after, but I was still prevented from opening a new RS when it was first launched. I tried again a week or two later and this time it was opened straight away, presumably now pulling in the different login/customer ID from the 2nd account. I'd say if you're ok with another hard search (and additional customer ID/potential TSB IT merging headache) then a new current account should let you open the 6% RS.

adindas

soulsaver said:

adindas said:

TSB RSA is now paying 6.0%. This is gem as it is Immediate access to your money with no withdrawal charges

@ 6.00% Gross/AER.

https://www.tsb.co.uk/savings/monthly-saver/

Has anyone tried recently whether to close the old one and immediately reopen a new one still work ?? If my memory serves well and not confused with other RSA, it did not work for me any longer. The only exception is if you reopen a new Current account and use this a foundation to open a RSA.

So does that work now?

The last one I tried was end of December 2023. It worked for me. I just notice from my record, I got the new one paying 6.0% Interest coming with this new account. So I am confident it will still work with this method. MY RSA was opened early January 2024.

Nick_C

friolento said:

allegro120 said:

Sallyforth said:

... It may also come in handy to be a member for future offers and there is a branch within walking distance of my home if ever needed.

Membership alone is worth an effort.  YBS has a history of offering loyalty products.  Once I had a short break in my membership and missed out on top rate RS as a result - learned it this way.

I agree, YBS membership is worth it BUT a regular saver that matures in 10 months time isn't the best account to choose for this. A standard easy access saver with a minimum balance is a better 'membership' account.

To add to this, if you want to open a YBS loyalty account online, you need to have an account that has been open for more than 12 months.  Their IT system isn't capable of recognising that an account that you have held for 6 months (for example) that followed on from an older account that you have now closed makes you eligible.  Branch staff can help you in this scenario, but really, its simpler to stick £1 into any old YBS account and leave it there forever more.

allegro120

PloughmansLunch said:

allegro120 said:

adindas said:

TSB RSA is now paying 6.0%. This is gem as it is Immediate access to your money with no withdrawal charges

@ 6.00% Gross/AER.

https://www.tsb.co.uk/savings/monthly-saver/

Has anyone tried recently whether to close the old one and immediately reopen a new one still work ?? If my memory serves well and not confused with other RSA, it did not work for me any longer. The only exception is if you reopen a new Current account and use this a foundation to open a RSA.

I've closed the old 5% early and tried to open new 6%.  The system didn't let me do that, I'll have to wait until 12 months anniversary.  I didn't think of opening another current account as a foundation for new RS, does it really work?

I had 2 x Spend & Save accounts and switched out the older TSB account a few months ago that the original RS was linked to & closed the 5% RS not long after, but I was still prevented from opening a new RS when it was first launched. I tried again a week or two later and this time it was opened straight away, presumably now pulling in the different login/customer ID from the 2nd account. I'd say if you're ok with another hard search (and additional customer ID/potential TSB IT merging headache) then a new current account should let you open the 6% RS.

I found my old (pre spend&save switch offer) ID and logged in with that, I still have one of old current accounts opened, applied for RS, but no luck - "We're sorry, but you are unable to do this operation online, please go to your nearest branch.".  This reads to me as "the answer is NO".  I have only 11 days until the end of my curfew, I'll try again then.  If it's still a problem I'll visit the branch, it's only 2 miles away from where I am.  

liamcov

AmityNeon said:

simonsmithsays said:

Frankly I don't understand people coming onto a MSE page and wasting energy saying getting X money more is a waste of time - whilst negatively posting on here seemingly isn't.

Each to their own I guess.

They actively monitor a thread. They see a new product announced/discussed. They feel better about their own inaction if they publicly justify why the new product being discussed is not worth it to them (instead of ignoring it, which is usually a much better indication of something not being worth one's time).

Surely post of the year (so far)

AmityNeon

liamcov said:

AmityNeon said:

simonsmithsays said:

Frankly I don't understand people coming onto a MSE page and wasting energy saying getting X money more is a waste of time - whilst negatively posting on here seemingly isn't.

Each to their own I guess.

They actively monitor a thread. They see a new product announced/discussed. They feel better about their own inaction if they publicly justify why the new product being discussed is not worth it to them (instead of ignoring it, which is usually a much better indication of something not being worth one's time).

Surely post of the year (so far)

To clarify, I wasn't suggesting that others shouldn't share their reasons for not applying for new regular savers being discussed, because there could be individual circumstances that preclude any net benefit, such as not having sufficient funds to fund the account every month, or for tax purposes etc. Such revelations can be beneficial to others reading who may not have considered those factors in relation to themselves.

It was more in reference to remarks such as (to paraphrase), '£6? Hardly worth getting excited over. I won't bother opening a new account just for that.'. I would not visit every board on this forum to find tips/tricks/hacks only to then remark why such things aren't worth it for me.

dlevene

My FD regular saver matured today. As suggested on this forum, rather than wait, I sent them a secure message asking for the funds to be transferred immediately, and for a new RS to be opened.

They complied with the first request but claim the latter isn't possible for a few days. I insisted but they didn't budge.

How does that square with others experiences? Any advice?

Special_Saver2

Hi Folks,

I have updated the first page of this thread.

- Yorkshire BS Christmas Regular Saver 2024 and Regular eSaver 2024 added paying 6% on up to £150 per month until 31st October 2024

I will do the next update in the next 2 weeks.

SS2

---

For those new to this thread, the first few posts are regularly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

simonsmithsays

dlevene said:

My FD regular saver matured today. As suggested on this forum, rather than wait, I sent them a secure message asking for the funds to be transferred immediately, and for a new RS to be opened.

They complied with the first request but claim the latter isn't possible for a few days. I insisted but they didn't budge.

How does that square with others experiences? Any advice?

Interesting language.

Don't the maturity instructions say this is par for the course?

It's certainly been the same for the last 10+ years with me.

I'd guess most wait the few days until their matured funds show and then open a new one.

Much calmer than insisting IMO

Wheres_My_Cashback

dlevene said:

My FD regular saver matured today. As suggested on this forum, rather than wait, I sent them a secure message asking for the funds to be transferred immediately, and for a new RS to be opened.

They complied with the first request but claim the latter isn't possible for a few days. I insisted but they didn't budge.

How does that square with others experiences? Any advice?

Some CS staff are unaware that the closure process can be done manually (not trained to do so) so it's a case of educating them that it is possible even though it's outside the norm. Done it for the past 8-10 years successfully, but some have needed a little gentle coaxing due the uncertainty.
I'd suggest you may have had more success by using the phone and by not insisting they do it. Many times I've also opened the new one in the same call.