Regular Savings Accounts: The Best Currently Available List!

PowerSavingMode

PRAISETHESUN said:

jameseonline said:

Stargunner said:

jameseonline said:

ThePirates said:

I'm new to all of this savings stuff and have opened and maxed out the accounts listed on the MSE website. 

I've opened a NatWest 6.17% Regular Digital Saver, is there anything stopping me opening a RBS one too?

Nope, may as well have them both open as there's only a £150 max deposit a month limit so will take a long time to max each one out at £5000

I have previously read on here of people being able to max one out within a month using double round ups. I maxed out both of mine in around 7-8 months.

I don't understand the round up trick or whatever people call it, but generally speaking it's a £150 deposit a month per brand

https://www.natwest.com/savings/tools-for-savings/round-ups.html

Make a debit card transaction for an odd amount (eg. £1.01) and NatWest/RBS will round up the transaction to £2, and put the difference (99p) into a nominated savings account. They also offer a double round-up version, which allows £1.98 to be saved each transaction.

I'm assuming they round up using your funds, not theirs..?

allegro120

jameseonline said:

Stargunner said:

jameseonline said:

ThePirates said:

I'm new to all of this savings stuff and have opened and maxed out the accounts listed on the MSE website. 

I've opened a NatWest 6.17% Regular Digital Saver, is there anything stopping me opening a RBS one too?

Nope, may as well have them both open as there's only a £150 max deposit a month limit so will take a long time to max each one out at £5000

I have previously read on here of people being able to max one out within a month using double round ups. I maxed out both of mine in around 7-8 months.

I don't understand the round up trick or whatever people call it, but generally speaking it's a £150 deposit a month per brand

I use NS&I Direct Saver for double round up trick.  Depositing £1.01 by RBS or Natwest debit card adds £1.98 to digital savers. NS&I DS interest is low, but the money can be withdrawn as soon as the payment is cleared.  The process is tedious so I only do it occasionally when I feel like doing it, add about 40 p/m on the top of £150 allowance to each digital saver.

Bridlington1

DJDools said:

PRAISETHESUN said:

jameseonline said:

Stargunner said:

jameseonline said:

ThePirates said:

I'm new to all of this savings stuff and have opened and maxed out the accounts listed on the MSE website. 

I've opened a NatWest 6.17% Regular Digital Saver, is there anything stopping me opening a RBS one too?

Nope, may as well have them both open as there's only a £150 max deposit a month limit so will take a long time to max each one out at £5000

I have previously read on here of people being able to max one out within a month using double round ups. I maxed out both of mine in around 7-8 months.

I don't understand the round up trick or whatever people call it, but generally speaking it's a £150 deposit a month per brand

https://www.natwest.com/savings/tools-for-savings/round-ups.html

Make a debit card transaction for an odd amount (eg. £1.01) and NatWest/RBS will round up the transaction to £2, and put the difference (99p) into a nominated savings account. They also offer a double round-up version, which allows £1.98 to be saved each transaction.

I'm assuming they round up using your funds, not theirs..?

Yes it uses the funds that are in your current account, sadly the £1.98 isn't given to you by NatWest/RBS.

friolento

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".

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.