Regular Savings Accounts: The Best Currently Available List!

allegro120

BestSeagull said:

@Descrabled, @allegro120, thanks very much!

I just received an email telling me I have 30 days to set up a standing order. Presumably they don't enforce that?

No they don't enforce this, at least in my experience.  I've been depositing directly from another bank into my previous TSB RS and continue doing the same for my current RS.  However, they do enforce the other rule "If you close your Monthly Saver before the end of the 12 month term, you won't be able to open another account before the first anniversary of this account."  When my previous RS became uncompetitive (5%) I closed it and later attempted to open new 6% RS, their system didn't let me do it, so I had to wait until 12 months restriction expired.   

francoghezzi

JamesRobinson48 said:

francoghezzi said:

Co-op RS 7%
Just received my letter confirming my account and it's clearly stated that the "Regular Saver is a fixed-term account for 12 months, paying a FIXED interest rate of 7% with a maximum deposit of £250 per calendar month. As long as English is still this country's language I would say there are no doubts whatsoever. There is a good suggestion in one of the posts I read yesterday on here to keep the letter in case of a drop in that percentage.

Fine, worth a try, however the product T&Cs (on the basis of which one applies for the account) state repeatedly that the interest rate is variable.

https://www.co-operativebank.co.uk/assets/pdf/bank/savings/regular-saver/regular-saver-welcome-guide.pdf

That's why keeping the letter could be important :-)

allegro120

BestSeagull said:

AIB (NI) Regular Saver

Interest rate: 6% gross p.a. variable from 26th October 2023
Monthly payment: £0-£500
Miss any payments: Miss as many as you wish
Penalty-free withdrawals: Yes, as many as you wish
Age of applicant: At least 18 years old
How to open account: Branch or online
Special conditions: You can continue to save into this account after 12 months but the balance that will earn this interest rate will reset to £500 per month of new deposits (existing deposits within the first 12 months will then earn a lower interest rate).


Sorry if this has already been discussed. Has anyone found a way to open this account other than by visiting a branch? I just spoke to someone there and she told me that the only way to get online access is to first visit a branch and open the account there?

This is correct.  I have looked into opening AIB RS wen it was launched - can't do it without initial visit to a branch.

ChewyyBacca

Has anybody opened a Co-Op Cashminder account and then successfully opened the 7% Regular saver with Co-op?
T&Cs of RS on the website says Cashminder current account is acceptable, but someone on the forum got rejected for RS, saying Cashminder acct is not acceptable.

Anyone else has got a different experience?

RosieRooBear

Update on Skipton R/S, have just had a call back from Skipton and there’s an issue with all payments made around the time I made mine (00:30), so in future I’ll make payments during the normal day 😂. They haven’t resolved it yet but when they do the payment will be applied from 1st March so no loss of interest which was good to hear 😊

Hattie627

Re the conundrum as to whether the Co-op Bank RS is variable or fixed interest.....

I agree with the poster who said that the T and C's (which state that the rate is variable) overrule anything to the contrary in correspondence. If the rate drops, then (assuming the drop is in accordance with the general T and C's for a variable rate savings account rate drop) the new rate must apply.

However, a saver would surely have cause for complaint that correspondence sent immediately after opening the account was wrong and misleading, with possible compensation. Hence,  suggestion to keep the correspondence.

Some would argue that a complaint (and acceptance of compensation) would be unethical. I would argue otherwise. 

subjecttocontract

It's only £250 a month so the interest paid if rates drop 1% or 2% is small and I have my doubts that rates will fall that much over the next 12 months.. I'm sure we've all got larger sums in variable rate accounts that would matter far more than this tiddler.

Bobblehat

RosieRooBear said:

Skipton R/S, phoned them just now and as @Bobblehat has said, there is an issue with some payments made on 1st March. Mine was a manual payment that I made at 00:30 on 1st March from Barclays. I was told the issue is with payments made from Barclays but unsure whether it’s Barclays or Skiptons which has caused the problem. They’re hoping to have it fixed by the end of the day 🤷🏼‍♀️

Seems to have been partially solved! Mine now showing as received on 4th March. I was hoping for it to show 1st March (which is when the SO left in the morning!), so will go back on chat tomorrow and try for it to be backdated.

RosieRooBear

Bobblehat said:

RosieRooBear said:

Skipton R/S, phoned them just now and as @Bobblehat has said, there is an issue with some payments made on 1st March. Mine was a manual payment that I made at 00:30 on 1st March from Barclays. I was told the issue is with payments made from Barclays but unsure whether it’s Barclays or Skiptons which has caused the problem. They’re hoping to have it fixed by the end of the day 🤷🏼‍♀️

Seems to have been partially solved! Mine now showing as received on 4th March. I was hoping for it to show 1st March (which is when the SO left in the morning!), so will go back on chat tomorrow and try for it to be backdated.

Mine’s showing too with the date 4th March, I will also be contacting them tomorrow to get it backdated as that’s what my voicemail message informed me, and have kept it for proof. All for £0.14, but it’s the principle 😂

Bobblehat

RosieRooBear said:

Bobblehat said:

RosieRooBear said:

Skipton R/S, phoned them just now and as @Bobblehat has said, there is an issue with some payments made on 1st March. Mine was a manual payment that I made at 00:30 on 1st March from Barclays. I was told the issue is with payments made from Barclays but unsure whether it’s Barclays or Skiptons which has caused the problem. They’re hoping to have it fixed by the end of the day 🤷🏼‍♀️

Seems to have been partially solved! Mine now showing as received on 4th March. I was hoping for it to show 1st March (which is when the SO left in the morning!), so will go back on chat tomorrow and try for it to be backdated.

Mine’s showing too with the date 4th March, I will also be contacting them tomorrow to get it backdated as that’s what my voicemail message informed me, and have kept it for proof. All for £0.14, but it’s the principle 😂

At least you have proof! Agree, it's about them getting it right, not just getting them to coughing up the 14p!