Regular Savings Accounts: The Best Currently Available List!

friolento

If you have that much trouble getting money into SRBS, aren’t you worried about getting money out?

I used to have an account with them and recall it invilved a lot of cheques in and out, and a lot of form-filling. Do you need to make your initial deposit by cheque?

Emily_Joy

friolento said:

If you have that much trouble getting money into SRBS, aren’t you worried about getting money out?

I used to have an account with them and recall it invilved a lot of cheques in and out, and a lot of form-filling. Do you need to make your initial deposit by cheque?

I am not really worried about getting money out, at the moment I was not planning to put there a substantial amount. The deposit should come from nominated account via standing order.

allegro120

pokemaster said:

Can confirm mine has been taken now

Ecology DD issue.

Mine has also been taken out yesterday.

gwapenut

SRBS are very passbook orientated, to the point where my ISA transfer out wouldn't proceed until I had posted them my passbook.

I cashed out my RS with them this week. Timescales were:

Thurs afternoon posted passbook First Class Signed For on Thursday afternoon.
Friday they received the passbook but I didn't know because Royal Mail did not track it
Monday afternoon with no notice of receipt and I ws worried. Rang them and they confirmed receipt.
Tuesday evening I got my faster payment to my nominated account (for amounts over £75k for other accounts, the payments are spli into multiple daily transactions, a facility they offer to allow you to avoid CHAPS fees)

Bear in mind this apparently slow handling is over the tax year boundary, ie they are busy with ISAs.

But because Royal Mail defrauded me by getting me to oay for a signed for, tracked service but providing a normal first class service, I would have to use expensive Special Delivery for high value passbooks in future. I chose signed-for in this case because I also sent a high value passbook for another account.

I've now closed all my accounts with them. Not because they are a bad building society, but because Royal Mail make most transactions stressful, and not just on this last occasion. eg SRBS claimed change of address forms and ID I posted last November had not arrived for a period of 2-3 weeks, and then eventually they did arrive. Whether SRBS or Royal Mail were at fault, I don't know, but the two are inseparable for how I would need to operate their accounts.

Off topic, but RM are also the reason I only open ISAs with providers who support electonic transfers now. If a transfer cheque gets received, interest is backdated to the date on the cheque. This means that if the first cheque is delayed in the post to the point where it is reported missing, cancelled, and reissued, then the interest is only backdated to the date on the second cheque, meaning it has potential to languish for many weeks in the donor account at a potentially low rate. The best case seems to be about 1 1/2 weeks for a transfer, which is still a lot slower than most electronic providers.

pecunianonolet

Coop Reg Saver

My funding window was yesterday 9th April (30 days from opening). Moved £1 into my Cashminder account and noticed there is no internal transfer option so made a normal payment using account number and sort code. Transaction went into pending and when checked this morning it was executed but the date of credit is shown as today. 

Have I missed anything? 

gt94sss2

Emily_Joy said:

Stafford Railway BS RS issue 1

Currently pays 5.15, at the moment there appears to be no postcode requirements. Opened one on Sunday, application went through, received an email saying the account has been added on Monday, with no instructions how to fund. Yesterday received yet another email saying the account has been added to my online profile. Still no idea how to add money to it. Send a secure message (via online system) asking for funding instructions - no reply.

HSBC Bank plc 40-05-30;
account number: 24575962 with your own account as the reference. 

It's hidden away in section 7.16 of their general T&C at https://srbs.co.uk/wp-content/uploads/2023/11/generalsavingstcjan2022.pdf

flaneurs_lobster

gwapenut said:

But because Royal Mail defrauded me by getting me to oay for a signed for, tracked service but providing a normal first class service, I would have to use expensive Special Delivery for high value passbooks in future. I chose signed-for in this case because I also sent a high value passbook for another account.

It's a PITA but I've claimed refunds from Royal Mail several times for this type of "Guaranteed" delivery failure. 

https://personal.help.royalmail.com/app/answers/detail/a_id/19910

bristolleedsfan

pecunianonolet said:

Coop Reg Saver

My funding window was yesterday 9th April (30 days from opening). Moved £1 into my Cashminder account and noticed there is no internal transfer option so made a normal payment using account number and sort code. Transaction went into pending and when checked this morning it was executed but the date of credit is shown as today. 

Have I missed anything? 

https://www.co-operativebank.co.uk/help-and-support/payments/money-transfer/

Timescales

When transferring money, the payment is usually immediate — but there are few exceptions where it may take a little bit longer, including when you transfer money:

• From your Co-operative Bank or smile account to your Co-operative Bank or smile credit card or charge card
• From your Co-operative Bank or smile account to another person’s Co-operative Bank or smile credit card or charge card
• To another Co-operative Bank or smile account when you include a reference — for immediate payment, please leave the reference field blank.

happybagger

Emily_Joy said:

Stafford Railway BS RS issue 1

Currently pays 5.15, at the moment there appears to be no postcode requirements. Opened one on Sunday, application went through, received an email saying the account has been added on Monday, with no instructions how to fund. Yesterday received yet another email saying the account has been added to my online profile. Still no idea how to add money to it. Send a secure message (via online system) asking for funding instructions - no reply. But it looks like indeed I now have *two* RS issue 1 with zero balance and no clue how to add money to any of them!

@g@gt94sss2 has given the bank details above, which are clearly within the savings t&cs, a phone call to them would have resolved this promptly I'm sure. They are very good with traditional methods. I also recall when opening mine I got details through the post shortly after opening.

If you do indeed have two accounts with different numbers, only deposit into one:

"Each member can hold a maximum of one sole account and one joint account"

ThePirates

Trying to open a Halifax Regular Saver 5.5% from the link on the front page but my application always 'Something has gone wrong with your application. Please visit one of our branches to apply for this account.'
Does anyone know if this account is still available?
https://www.halifax.co.uk/savings/fixed-term/regular-saver.html