Regular Savings Accounts: The Best Currently Available List!

pecunianonolet

The question is if a current account (hard search) is needed or if a cashminder account would be enough or if this is a requirement at all. I just opened one of their very low paying easy access saver accounts for £1 just in case it is for existing customers only. 

WillPS

ForumUser7 said:

Ah the co-op. I hold no accounts with them, deliberately so, given the experience others had with the refer a friend offer. If they do release this, I'll need to think carefully as to whether I trust them or not. Particularly if it'll require a current account and hard search.

No hard search for a Cashminder account (which may or may not be acceptable by the terms, which may or may not require a current account at all!).

allegro120

ForumUser7 said:

Anyone who is an existing customer been able to reduce the DD from £25 to £10 please? Not sure whether to try, or just leave it seeing as they no longer allow new customers to use them. Thanks

I've sent them a 'secure message' with this question.  I will feedback on here when they reply.

allegro120

allegro120 said:

ForumUser7 said:

Anyone who is an existing customer been able to reduce the DD from £25 to £10 please? Not sure whether to try, or just leave it seeing as they no longer allow new customers to use them. Thanks

I've sent them a 'secure message' with this question.  I will feedback on here when they reply.

Reply received this morning - "With effect from February 2024 Direct Debit payments due in respect of the above Direct Debit Instruction will be for £10.00".  So all you need to do is to send them a secure message and they will amend your DD.

ForumUser7

allegro120 said:

allegro120 said:

ForumUser7 said:

Anyone who is an existing customer been able to reduce the DD from £25 to £10 please? Not sure whether to try, or just leave it seeing as they no longer allow new customers to use them. Thanks

I've sent them a 'secure message' with this question.  I will feedback on here when they reply.

Reply received this morning - "With effect from February 2024 Direct Debit payments due in respect of the above Direct Debit Instruction will be for £10.00".  So all you need to do is to send them a secure message and they will amend your DD.

This is fantastic - thank you for checking into that for us.

Bigwheels1111

Just opened my West Brom regular saver.

A bit long winded, about a week to open both account.

Thanks for the advise in previous posts.

soulsaver

Speculator said:

schiff said:

I've got four regular savers maturing the first week of March:
Saffron Walden 5.25%
Lloyds Monthly 5.25%
Bank of Scotland 5.50%
Club Lloyds 6.25%
I feel that we're at something of a critical juncture so it will be interesting to see which way they jump, especially the Club Lloyds.

Renewed and reopened my Club Monthly yesterday. Was due to mature 6th March but didn't want to wait in case Lloyds launch a new issue with a lower rate.

Same applies to the monthly saver. It's 'only' 5.25% but it's fixed.
I just renewed/closed/reopened it..

Why not wait? Well I have a bit of cash flow shortfall at end of the next couple months to feed my RSs, while  waiting for a 95 day notice ac.* to free up funds mid April.

While searching my spread sheet for odds & sods to bridge, had this bright idea that loses next to nowt - and frees up £2k+ into a 5.20% EA (Santander/Beehive, both NLA) ITMT.  -  0.05% less on c£2k for c.1 month is near enough nowt.

The 5.25%, whilst not that good now, is instant access if needed, and reopening it fixes the rate for another year.

Plus, as @Speculator says, Lloyds may replace it lower if I wait... and 5.25% may look a lot better in a few months.  

ETA *RCI 5.60% but reducing to 4.90% near end April..

Bridlington1

Not top regular savers by any strech of the imagination but may be of interest to those who have them sat with minimum balances:
Darlington BS Regular Monthly Saver will reduce from 4.6% to 4.2% from 4/3/24. Source: Letter
Green RS and Special Occasion Saver (both NLA) will also reduce from 4.6% to 4.2% on 4/3/24

proudgecko

hi, struggling to make a decision and would welcome other's thoughts

I am going to to switch to Club Lloyds - to get switch bonus & access to regular saver
For the donor account my options are either a) to open a new donor account to switch or b) switch my Barclays - I only have Barclays to get the Rainy Day saver but that hasn’t been competitive for a while now

I can’t decide if I think the Rainy Day saver will become competitive again, so worth keeping Barclays or just ditch it - anyone got any thoughts

Also, if I open Club Lloyds current account and the Club Lloyds regular saver, can I close the current account later without affecting the regular saver, or am I tied to the current account for the year

pecunianonolet

proudgecko said:

hi, struggling to make a decision and would welcome other's thoughts

I am going to to switch to Club Lloyds - to get switch bonus & access to regular saver
For the donor account my options are either a) to open a new donor account to switch or b) switch my Barclays - I only have Barclays to get the Rainy Day saver but that hasn’t been competitive for a while now

I can’t decide if I think the Rainy Day saver will become competitive again, so worth keeping Barclays or just ditch it - anyone got any thoughts

Also, if I open Club Lloyds current account and the Club Lloyds regular saver, can I close the current account later without affecting the regular saver, or am I tied to the current account for the year

Would open a donor account with Metro Bank, Monzo and the likes where you don't get a hard search. Barclays could be of interest in the future e.g. Rainy Day Saver or any other cashback/reward offers they launch or in case of any credit card deals should that be of interest to you.