Regular Savings Accounts: The Best Currently Available List!

Kim_13

friolento said:

CuparLad said:

friolento said:

Bigwheels1111 said:

Having a brain fart here and now.

For the Principality, what name do I use, mine or Principality.

I know my acc no is the ref.

I selected personal account, and used my usual naming convention for the account name. I knew this couldn't match, and I simply accepted the mismatch.

My approach is similar. Always set them up as Business and use a meaningful description, otherwise (as is my case) I'd end up with four "Principality Building Society"s and needing to use the Ref as the determinant. That's bound to lead to mistakes.

I thought I read somewhere that the eventual intention was to strictly apply account verification so you couldn't pay to an account where there was a mismatch, meaning our aproach would no longer work. Hopefully that's either not true or a long way off.

I agree, hopefully it is untrue or a very long way off. Until all banks and buliding societies provide a meaningful way to uniquely identify an account. e.g. via a nickname which is then used in all transactions, forcing a COP match would be lunacy. Mind you, this probably won't stop some hardcore consumer rights campaigners from demanding unreasoned "improvements".

Then again, that might be exactly what the regulator thinks is a good idea, since the average person probably only has one account with each institution rather than several to get the best deals. If a current account is required to access an RS, then someone who has said secondary current account would either fund the RS externally and the current account just sit there, or fund the requisite current account and then onwards from there.

Tipton I’ve been planning where to put RS proceeds later in the year and wondered, as the account matures on 31st October, will I see the funds on that date or will it be 1 November? Thanks

gwapenut

friolento said:

CuparLad said:

friolento said:

Bigwheels1111 said:

Having a brain fart here and now.

For the Principality, what name do I use, mine or Principality.

I know my acc no is the ref.

I selected personal account, and used my usual naming convention for the account name. I knew this couldn't match, and I simply accepted the mismatch.

My approach is similar. Always set them up as Business and use a meaningful description, otherwise (as is my case) I'd end up with four "Principality Building Society"s and needing to use the Ref as the determinant. That's bound to lead to mistakes.

I thought I read somewhere that the eventual intention was to strictly apply account verification so you couldn't pay to an account where there was a mismatch, meaning our aproach would no longer work. Hopefully that's either not true or a long way off.

I agree, hopefully it is untrue or a very long way off. Until all banks and buliding societies provide a meaningful way to uniquely identify an account. e.g. via a nickname which is then used in all transactions, forcing a COP match would be lunacy. Mind you, this probably won't stop some hardcore consumer rights campaigners from demanding unreasoned "improvements".

This is why I'm switching my savings linked accounts from Lloyds to Nationwide. Not only is the faster payment limit increased from 25K to 100K, but I can also nickname what I'm paying into. 

Foxhouse

Nick_C said:

NatWest round ups - make small council tax payments on line for £2.01, £3.01 etc.  Keep the amounts unique so you can reconcile your accounts more easily.  (Your council / Capita will love you!) 

I also spend £xx.01 on petrol, and send small amounts like yours to other societies etc. Every little helps.

I do double roundups too.

fletcher1985

 so principality has another regular saver. i have opened all three is this ok to do? can i ask why they keep releasing new regular savers and then withdraw them quickly? 

Kim_13

A 6% 2 year fixed being available for 4 months doesn’t seem particularly quick to withdraw.

I’m surprised Issue 33 is still available to be honest - it launched over the Summer, if I recall.

I also have all three. They specify one of each issue per person so no term has been breached in opening all of them.

allegro120

Kim_13 said:

A 6% 2 year fixed being available for 4 months doesn’t seem particularly quick to withdraw.

I’m surprised Issue 33 is still available to be honest - it launched over the Summer, if I recall.

I also have all three. They specify one of each issue per person so no term has been breached in opening all of them.

Yes issue 33 was released in June last year.  Still available probably because the rate is only 5.5%.

I currently have four - 33, Healthy, Winter and Triple.  Had continuous Principality membership for many years, not because trying to artificially maintain it but because they never stopped offering competitive RS products.

allegro120

fletcher1985 said:

 so principality has another regular saver. i have opened all three is this ok to do? can i ask why they keep releasing new regular savers and then withdraw them quickly? 

Yes, with Principality you can have as many issues as you want.  I don't know the answer to the second question, but I've learned that the best strategy is to grab them as soon as they go live.  

Bridlington1

allegro120 said:

Kim_13 said:

A 6% 2 year fixed being available for 4 months doesn’t seem particularly quick to withdraw.

I’m surprised Issue 33 is still available to be honest - it launched over the Summer, if I recall.

I also have all three. They specify one of each issue per person so no term has been breached in opening all of them.

Yes issue 33 was released in June last year.  Still available probably because the rate is only 5.5%.

I currently have four - 33, Healthy, Winter and Triple.  Had continuous Principality membership for many years, not because trying to artificially maintain it but because they never stopped offering competitive RS products.

I have the same 4 as you do. The 2YHH RS being pulled at this time makes me rather glad I ``refreshed" it at the turn of the tax year, mine doesn't mature till April 2026. I'm currently holding off reopening the FHS RS issue 3 till I'm about to complete a property purchase or it's about to go NLA (whichever is earlier).

I've kept a double access account alive too as they have offered a loyalty regular saver before (albeit a while ago) and it's not doing any harm sat there with £1.03 and has been competitive before.

allegro120 said:

fletcher1985 said:

 so principality has another regular saver. i have opened all three is this ok to do? can i ask why they keep releasing new regular savers and then withdraw them quickly? 

Yes, with Principality you can have as many issues as you want.  I don't know the answer to the second question, but I've learned that the best strategy is to grab them as soon as they go live.  

For me it depends on the bank/building society in question and how I plan to use the account. If I'm opening it to actively fund I tend to adopt the same strategy as you do.

However if I'm opening it speculatively my approach varies. I'd be wanting to open it as late as possible if the maturity date is dependent on when you open the account. Some such as Principality consistently disappear from moneyfacts at midnight before being pulled around 9am that morning (with the application link staying live long after that) so if opening speculatively I'd open it in the early hours of the day it goes NLA.

If it's a speculative branch/post opening (as is usually the case with Furness or Mansfield) I'll typically get hold of an application form then post it off as soon as it goes NLA, dating everything to the day before it goes NLA, again to push the maturity date to as late as possible.

Special_Saver2

Hi Everybody,

I have just updated the first page of this thread.

- Gatehouse Bank Regular Saver Account (Issue 2) entry has been updated to show that you can only open one regular saver account (presumably only one account of any issue meaning that you cannot have an issue 1 and an issue 2 account although this is not clear from their website - please feel free to let me know if this is incorrect)

- Principality BS Triple Access Regular Saver account added paying 6% gross p.a. variable on up to £50 per month for 12 months

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

SS2

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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

Bridlington1

@Special_Saver2
I've found Gatehouse will allow you to hold both Issue 1 and 2 of their regular saver simultaneously, I'm pretty sure I can remember others reporting having opened and funded both too. I don't know if their systems were intentionally designed to allow this though (I suspect not but I agree their website isn't clear on this).

Also one other thing I've noticed is that the link that allows you to jump straight to the end of this thread no longer works (at least in my case anyway). If I click the link: https://forums.moneysavingexpert.com/discussion/5776240get this instead:

The nearest equivalent to the link that I'm aware of is this one which takes you to the post after the last one you've read (or the latest post if you've read all of them):
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list#latest

ETA:
The Principality BS Healthy Habits Saver Bond went NLA when the Triple Access Regular Saver was launched. Both are still listed on the first page of the thread.