Regular Savings Accounts: The Best Currently Available List!

Bridlington1

WillPS said:

jameseonline 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.

Special_Saver2

Hi Folks,

I have just updated the first page of this thread.

- Gatehouse Bank Regular Saver Account (Issue 2) entry has been updated to show that forum users have been able to open and hold both issues 1 and 2

- Principality BS Healthy Habits Saver Bond removed as no longer available

- Link in the introduction on page 1 updated with a link that jumps to the last unread post in this thread

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

SS2

---

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

Emily_Joy

allegro120 said:

jameseonline said:

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

Having read this I went to open a first direct regular saver yesterday and it was open and funded within a couple of hours 

Bridlington1

Loughborough BS One Year Fixed Rate Monthly Saver Issue 2 to be launched tomorrow at 5.05%, replacing issue 1 at 5%.

Withdrawals/early closure are not permitted during the account term.
Deposit of between £1 and £500/mth is required.
Branch/post only.

Fingerbobs

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? 

ColdIron

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

Fingerbobs

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. 

masonic

hjghg5 said:

Having read this I went to open a first direct regular saver yesterday and it was open and funded within a couple of hours 

...and for those renewing, if my experience last year is anything to go by, if you time it right you can apply for a new one when the account first disappears, before it returns with interest added, allowing the usual maturity waiting game to be short-circuited.

Fingerbobs

masonic said:

hjghg5 said:

Having read this I went to open a first direct regular saver yesterday and it was open and funded within a couple of hours 

...and for those renewing, if my experience last year is anything to go by, if you time it right you can apply for a new one when the account first disappears, before it returns with interest added, allowing the usual maturity waiting game to be short-circuited.

I can corroborate this. Several years running I've been able to open a new account as soon as the old one disappears from online banking.