Regular Savings Accounts: The Best Currently Available List!

Bridlington1

I haven't seen this one mentioned but Darlington BS have now launched a Regular eSaver at 4.2% variable for existing members.

I appreciate it isn't competitive at the moment but it has no maturity date, can be opened with £1 and ignored and their regular savers have been competitive in the past so it could possibly be one to open speculatively. Plus it allows deposits by debit card.

Kim_13

badger09 said:

subjecttocontract said:

Are there any regular saver accounts that can be opened in joint names ?

Sorry, can’t answer the question but I’m curious as to what the advantage would be. Other than being easier when one of the holders dies 

Nationwide, Co-Op, TSB, Lloyds, YBS among others. Moneyfacts can be filtered to show this: https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/?id=null&business-type=16&activity-type=null&investment-amount=50&investment-type=2&account-types=16&interest-paid-frequencies=null&terms=null&account-opening-methods=null&account-management-methods=null&notice-periods=null&include-notice-period=true&include-term=true&age=21&has-withdrawal-restrictions=2&existing-customers-only=2&is-shariaa=2&joint-account-only=1&quick-links-first=false

I suppose an advantage would be if you were allowed one sole and one joint, but as far as I know any account available as a joint precludes having both.

Unless it’s a means of having some of the interest apportioned to someone else for tax purposes.

chris_the_bee

Kim_13 said:

badger09 said:

subjecttocontract said:

Are there any regular saver accounts that can be opened in joint names ?

Sorry, can’t answer the question but I’m curious as to what the advantage would be. Other than being easier when one of the holders dies 

Nationwide, Co-Op, TSB, Lloyds, YBS among others. Moneyfacts can be filtered to show this: https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/?id=null&business-type=16&activity-type=null&investment-amount=50&investment-type=2&account-types=16&interest-paid-frequencies=null&terms=null&account-opening-methods=null&account-management-methods=null&notice-periods=null&include-notice-period=true&include-term=true&age=21&has-withdrawal-restrictions=2&existing-customers-only=2&is-shariaa=2&joint-account-only=1&quick-links-first=false

I suppose an advantage would be if you were allowed one sole and one joint, but as far as I know any account available as a joint precludes having both.

Unless it’s a means of having some of the interest apportioned to someone else for tax purposes.

Stafford B/S (Ex SRBS) allows both.

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

surreysaver

badger09 said:

subjecttocontract said:

Are there any regular saver accounts that can be opened in joint names ?

Sorry, can’t answer the question but I’m curious as to what the advantage would be. Other than being easier when one of the holders dies 

Advantages would be
Split the tax liability
The other holder would retain the money in the account should one holder die
Both holders could operate the account
There's probably other advantages 

Nick_C

surreysaver said:

badger09 said:

subjecttocontract said:

Are there any regular saver accounts that can be opened in joint names ?

Sorry, can’t answer the question but I’m curious as to what the advantage would be. Other than being easier when one of the holders dies 

Advantages would be
Split the tax liability
The other holder would retain the money in the account should one holder die
Both holders could operate the account
There's probably other advantages 

And of course if one partner is a higher rate tax payer and the other is not, that would be a disadvantage.

subjecttocontract

The shared tax on the joint accounts will be an advantage for me as my regular savers produce around £3000 interest a year. I think I'll probably just let them run to maturity and any new/replacement reg savers I'll open in joint names. 

arsenalboy

All our reg savers are in my wife's name as she pays no tax and I pay 40%  

WillPS

arsenalboy said:

All our reg savers are in my wife's name as she pays no tax and I pay 40%  

Same here. I've got enough in my Natwest and RBS Digital Regular Savers to generate £400 interest over a year, leaving £100 in case Nationwide decide to chuck out another £100 "fairer share".

Everything else is saved by my wife.

TheWoodler

OH and I have entirely separate finances - we each pay our share of outgoings - but we do have a small savings account in our joint names.

We agreed as soon as we were married that it might be quite a sensible, if symbolic, move.

It serves no real practical purpose other than to evidence a financial relationship with a paper trail that reflects our marriage relationship.

BooJewels

I have a modest issue with my Skipton Regular Saver.  I set it up in early June last year and I think I made the first payment manually on 2nd June and a Standing Order to pay on the 1st month thereafter - the last one being 1st May 2024 = 12.  It showed in the EA saver feeding it as a 'scheduled payment' each month and around the third of the month, the £250 moved from there to the RS.  Current balance £2,750.

I noticed a week or two ago that it wasn't showing as a scheduled payment for 1st May - but the balance was also below £250, but I'd set up another payment to go from my BRT to the EA to bring the balance over £260 ready for that payment, on 26th April, which it did.  It should have gone on Friday at the latest - but the payment hasn't been made and it isn't showing as scheduled.  

I'm wondering whether to make the last payment manually, or wait and see if it sorts itself out after the BH weekend catch up?