Regular Savings Accounts: The Best Currently Available List!

JamesRobinson48

where_are_we said:
The accumulative gain of funding many regular savers should not be overlooked. We have in excess of £10,000 going out in standing orders each month to RS. As each one matures you renew if the interest rate is high enough and you start new ones as they come along. It is an "effort", but being in the game is part of the fun! 

Myself likewise. At the same time, I'll confess that on my RS portfolio of ~£150k the weighted average yield currently equates to only 1.8% p.a. That's better than nothing, but hardly lucrative given the work involved in maintaining 40+ RS accounts. Arguably the effort would not really be worthwhile, except as a leisure pursuit for a minority of enthusiasts with plentiful spare time!

schiff

It's a great hobby in retirement! 
And has been during lockdown etc.

surreysaver

happybagger said:

Am I the only person reading this thread (which I do in case there's the odd snippet of something worthwhile) thinking the cost/benefit calculation for the effort people are putting into this MonBS account is not great? ...

Its a hobby. At least my hobby earns me money! 

Special_Saver2

Hi Folks,

Here is this weekend's update to this thread.

- Cambridgeshire BS Loyalty Regular Saver paying 3% on £100 per month for up to 12 months added to post 5 (requires another account, namely a savings or mortgage account with them for the last 12 months) and beware the only way to get your money back before the end of the 12 months is to close the account early and lose 90 days' interest (plus if you have had the account less than 90 days then they will deduct money from your capital balance)

I will do the next update next weekend.

SS2

---

For those new to this thread, the first few posts are constantly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

surreysaver

Well, that's my Virgin Regular Saver 18 closed, and the Cambridge Building Society Loyalty Regular Saver opened.
Logged into Monmouthshire this morning, with my pending account removed and a message saying the same as what others have received.  So the Regular Saver has been re-added, showing as pending again.  In the past when I've added accounts and they show as pending, you can keep logging in each day to see when they've processed the paperwork to enable you to add funds as it no longer shows as pending.  Looks like I'll have to keep re-adding the account each day now  as well.

dcs34

surreysaver said:

Well, that's my Virgin Regular Saver 18 closed, and the Cambridge Building Society Loyalty Regular Saver opened.
Logged into Monmouthshire this morning, with my pending account removed and a message saying the same as what others have received.  So the Regular Saver has been re-added, showing as pending again.  In the past when I've added accounts and they show as pending, you can keep logging in each day to see when they've processed the paperwork to enable you to add funds as it no longer shows as pending.  Looks like I'll have to keep re-adding the account each day now  as well.

Did you go into branch? How was it? Planning to do mine this afternoon.

surreysaver

dcs34 said:

surreysaver said:

Well, that's my Virgin Regular Saver 18 closed, and the Cambridge Building Society Loyalty Regular Saver opened.
Logged into Monmouthshire this morning, with my pending account removed and a message saying the same as what others have received.  So the Regular Saver has been re-added, showing as pending again.  In the past when I've added accounts and they show as pending, you can keep logging in each day to see when they've processed the paperwork to enable you to add funds as it no longer shows as pending.  Looks like I'll have to keep re-adding the account each day now  as well.

Did you go into branch? How was it? Planning to do mine this afternoon.

To open the Cambridge?  Did it on the phone.  First phone call so they could email me the load of bumph I'd already read on the website.  Rings us back when you've read it, they said.  Rang them back five minutes later for them to read to me everything they've just emailed me that I had already read last week.  About twenty minutes.  Still, quicker than catching the train up to Cambridge to open it I suppose!

Fingerbobs

JamesRobinson48 said:

where_are_we said:
The accumulative gain of funding many regular savers should not be overlooked. We have in excess of £10,000 going out in standing orders each month to RS. As each one matures you renew if the interest rate is high enough and you start new ones as they come along. It is an "effort", but being in the game is part of the fun! 

Myself likewise. At the same time, I'll confess that on my RS portfolio of ~£150k the weighted average yield currently equates to only 1.8% p.a. That's better than nothing, but hardly lucrative given the work involved in maintaining 40+ RS accounts. Arguably the effort would not really be worthwhile, except as a leisure pursuit for a minority of enthusiasts with plentiful spare time!

I've only got around £30k cycling round RS accounts, but my weighted average is just fractionally over 2% at the moment. It's gradually reducing every month at the moment of course. 

dcs34

surreysaver said:

dcs34 said:

surreysaver said:

Well, that's my Virgin Regular Saver 18 closed, and the Cambridge Building Society Loyalty Regular Saver opened.
Logged into Monmouthshire this morning, with my pending account removed and a message saying the same as what others have received.  So the Regular Saver has been re-added, showing as pending again.  In the past when I've added accounts and they show as pending, you can keep logging in each day to see when they've processed the paperwork to enable you to add funds as it no longer shows as pending.  Looks like I'll have to keep re-adding the account each day now  as well.

Did you go into branch? How was it? Planning to do mine this afternoon.

To open the Cambridge?  Did it on the phone.  First phone call so they could email me the load of bumph I'd already read on the website.  Rings us back when you've read it, they said.  Rang them back five minutes later for them to read to me everything they've just emailed me that I had already read last week.  About twenty minutes.  Still, quicker than catching the train up to Cambridge to open it I suppose!

I meant the Virgin, just went to do mine and already had the transfer go through - all far to straightforward!

surreysaver

dcs34 said:

surreysaver said:

dcs34 said:

surreysaver said:

Well, that's my Virgin Regular Saver 18 closed, and the Cambridge Building Society Loyalty Regular Saver opened.
Logged into Monmouthshire this morning, with my pending account removed and a message saying the same as what others have received.  So the Regular Saver has been re-added, showing as pending again.  In the past when I've added accounts and they show as pending, you can keep logging in each day to see when they've processed the paperwork to enable you to add funds as it no longer shows as pending.  Looks like I'll have to keep re-adding the account each day now  as well.

Did you go into branch? How was it? Planning to do mine this afternoon.

To open the Cambridge?  Did it on the phone.  First phone call so they could email me the load of bumph I'd already read on the website.  Rings us back when you've read it, they said.  Rang them back five minutes later for them to read to me everything they've just emailed me that I had already read last week.  About twenty minutes.  Still, quicker than catching the train up to Cambridge to open it I suppose!

I meant the Virgin, just went to do mine and already had the transfer go through - all far to straightforward!

Took about ten minutes. I was first in the queue waiting for the branch to open. Money was in my current account by about 13.00 - its normally a lot later in the afternoon