Regular Savings Accounts: The Best Currently Available List!

TheWoodler

BooJewels said:

I've been thinking about it further during today whilst pottering in the garden and it does seem almost preposterous that it could even happen. 

My thoughts entirely, especially as SOs are completely controlled by the customer.  

That one was a Members’ RS IIRC, so for this to happen with a loyalty product seems doubly unfortunate. I would not have felt well rewarded for loyalty if I had missed my 12th payment through no fault of my own. 

It’s also a point to consider that there was no difficulty with sufficient funds in the originating EA account - so with it being a working day as well, all conditions were in place for it to have been taken. 

BooJewels

Indeed @TheWoodler - I had thought originally that it wasn't showing as a scheduled payment because there were insufficient funds earlier in the month - but I had scheduled a transfer for 26th April to bring it up over the required amount in good time - no point moving it too soon, as the BRT interest rate is higher than the EA account.  I may be mistaken on this, but my understanding is that if SOs are set for a particular day, as long as the funds are there when it's scheduled it will go ahead - but I think DDs need more run time.

I've sent a secure message asking about it, as it has made me a smidge uneasy about SOs with them, as I routinely schedule withdrawals to my current account in that manner and I need to be able to trust it.  Plus I was going to take another RS when it matures, but likewise, I don't want to rely on it if they might just intervene and cancel the SO before it's been actioned.  I'm not sure that her explanation yesterday withstood scrutiny once I gave it more thought.

liamcov

Leeds BS Regular Saver (Issue 52) 

Can this be opened in addition to the previous issue?

flaneurs_lobster

liamcov said:

Leeds BS Regular Saver (Issue 52) 

Can this be opened in addition to the previous issue?

You asked this question a week ago

I guess the answer is still no.

jameseonline

Just cashed out my First Direct Regular Saver £3735.38, so £3600 + £135.38 interest, not bad but not best either, it's advertised as £136.50 interest though, does say based on paying 1st of each month though but yeah.

Still it's better than last year's amount of £3710.44.

Also when did First Direct get push notifications?, took them long enough.

Bigwheels1111

jameseonline said:

Just cashed out my First Direct Regular Saver £3735.38, so £3600 + £135.38 interest, not bad but not best either, it's advertised as £136.50 interest though, does say based on paying 1st of each month though but yeah.

Still it's better than last year's amount of £3710.44.

Also when did First Direct get push notifications?, took them long enough.

Ask for your £1.12, they will give it to you.

BooJewels

I was thinking about the same thing in respect of the issue with Skipton and the scheduled SO being paid late (not had a reply yet about the last one being cancelled) - if I scheduled the SO for the 1st of the month and it was always paid on the 3rd, 4th or 5th of each month - that diddles me out of about £2 of interest over the year, if my maths is right.  0.075 (%) x 250 / 365 = 5.1p per day x 3 x 12 = £1.84+ - if 5 days late, it's just over £3.

simonsmithsays

Skipton Member Saver 7.5% Maturity

As one of the account holders who haven't closed this early (and then opened up the 7% RS) I see that upon logging into the app I see the following

Your account is due to mature on 31 May 2024.

We'll let you know about your maturity options around two weeks before your account maturity date'

Saffron 9% RS

No indication on the Saffron app as to the maturity options yet

On both accounts I won't be cancelling the SOs quite yet incase these morph into decent accounts.

liamcov

flaneurs_lobster said:

liamcov said:

Leeds BS Regular Saver (Issue 52) 

Can this be opened in addition to the previous issue?

You asked this question a week ago

I guess the answer is still no.

Sorry I thought it was new, can't keep up!

jameseonline

simonsmithsays said:

Skipton Member Saver 7.5% Maturity

As one of the account holders who haven't closed this early (and then opened up the 7% RS) I see that upon logging into the app I see the following

Your account is due to mature on 31 May 2024.

We'll let you know about your maturity options around two weeks before your account maturity date'

Saffron 9% RS

No indication on the Saffron app as to the maturity options yet

On both accounts I won't be cancelling the SOs quite yet incase these morph into decent accounts.

Saffron won't it will change to a poop maturity account earning fudge all & can't pay into, unless you give them maturity instructions.

I always message them instructions to transfer to my easy access account which they do then I move it out myself from there, well technically I send them a request & it gets transferred via fast payment but yeah.

I don't think you have to wait for the maturity thing to show up either, just message them online/app.

I've done this for the Members Month 9% and they've noted my request already.

Can't speak about Skipton but I don't know of ANY Regular Savings accounts that morph into decent savings accounts, only poopy accounts paying less interest.

The only potential benefits I'm aware of is you have a new savings account so could potentially use it to transfer money out & also if you keep the account you could have it in order to get loyalty accounts in the future.

For example I have £100 in Cambridge Building Society, they have loyalty regular savings accounts, the best they do currently is 6%, also I have £1 with Skipton and they do a 5.50% savings account & a 7% account so given time I'll be eligible for those or whatever they have running in the future.