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Regular Savings Accounts: The Best Currently Available List!

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  • Bridlington1
    Bridlington1 Posts: 3,719 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    WillPS said:

    I've got £1 in Skipton & £100 in The Cambridge & £1 in Leek purely because I know they have loyalty accounts.
    What's the Leek offer? All I can see is a regular saver which seems to unofficially track the base rate currently.
    The Leek BS regular saver is restricted to those who live in certain postcodes and existing members with 12 months continuous membership. I seem to recall it has been more competitive in the past than it is today though so I'd say it's worth preserving membership in case it becomes competitive again.
  • Emily_Joy
    Emily_Joy Posts: 1,491 Forumite
    Seventh Anniversary 1,000 Posts Photogenic Name Dropper
    Bank holidays, weekends etc all play a part with First Direct (amongst others) as they aren't banking days so things take longer to mature, close etc.

    However you'll still earn interest while it's taking the extra time.
    I find it strange.  At least in major banks all these processes are automated, can't imagine a member of FD staff sitting there closing and opening accounts for everyone.

    You definitely don't earn interest on £300 sitting in current account waiting for new account to be opened.  I don't have to do this because I have £500 overdraft free of charge (FD gave it to me years ago without me even asking for it), but for those who don't it is a loss of interest for as many days as it takes for account to be opened.
    I think you are missing the point. The system (in the case of FD, for instance) is specifically designed/programmed so that the processes don't take place on non-banking days. Full stop.
  • hjghg5
    hjghg5 Posts: 58 Forumite
    Tenth Anniversary 10 Posts Combo Breaker
    Having read this I went to open a first direct regular saver yesterday and it was open and funded within a couple of hours 
  • Fingerbobs
    Fingerbobs Posts: 1,702 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Silly question about Halifax Regular Saver rollover. 

    My Halifax RS matures towards the end of next month. Assuming the 13th payment is allowed on 1st, after the funds have moved across to the Everyday Saver account and the RS has auto-renewed towards the end of the month, can I make the first deposit into the newly-renewed account, even though I have already paid into the pre-renewal account during the same month? 
  • Fingerbobs
    Fingerbobs Posts: 1,702 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    ColdIron said:
    It wouldn't let me do it as the account number was the same so it would be 2 payments in a calender month
    I used the 'renew' process to a Everyday Saver and opened a new RS, then I could deposit my £250. Then I closed the Everyday Saver
    You might find yet another Everyday Saver created when opening the new RS, I did and closed that as well
    That's a good idea, thanks. I'll probably do that. 

    I kept the automatically-opened Everyday Saver, so I assume my funds will move over into that, leaving the original RS account in place but with zero balance, and I then need to close the original RS account manually before it will let me open a new one. 
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