Regular Savings Accounts: The Best Currently Available List!

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 

schiff

Club Lloyds RS
The T&Cs are not clear about whether a 13th payment is allowed, not even by implication. My 12th payment went in today and it matures on 16 October. It seems a shame not to get 2.5% on £400 even for only 16 days (WOW 44p!).

typistretired

I have always paid 13 payments into BOS and Lloyds Regular Savers and had no come back

JamesRobinson48

schiff said:

Club Lloyds RS
The T&Cs are not clear about whether a 13th payment is allowed, not even by implication. My 12th payment went in today and it matures on 16 October. It seems a shame not to get 2.5% on £400 even for only 16 days (WOW 44p!).

I normally do a 13th payment for this RS, without problems.  Personally, I take this as implicitly compliant with T&Cs given that: (1) no maximum permitted account balance is specified; (2) the (single) monthly deposit can occur on any day from 1st-24th of each month, within the account year; and (3) each year's RS has a different account number.

TBH, I think I've yet to see T&Cs for any 12 month RS specifically state that a 13th payment is permitted. But in my experience it has worked fine for Lloyds, BoS, Halifax and also for several building societies including Leek BS, Scottish BS and Tipton BS.

Wheres_My_Cashback

JamesRobinson48 said:

schiff said:

Club Lloyds RS
The T&Cs are not clear about whether a 13th payment is allowed, not even by implication. My 12th payment went in today and it matures on 16 October. It seems a shame not to get 2.5% on £400 even for only 16 days (WOW 44p!).

I normally do a 13th payment for this RS, without problems.  Personally, I take this as implicitly compliant with T&Cs given that: (1) no maximum permitted account balance is specified; (2) the (single) monthly deposit can occur on any day from 1st-24th of each month, within the account year; and (3) each year's RS has a different account number.

TBH, I think I've yet to see T&Cs for any 12 month RS specifically state that a 13th payment is permitted. But in my experience it has worked fine for Lloyds, BoS, Halifax and also for several building societies including Leek BS, Scottish BS and Tipton BS.

However, in reality the payment can be made between the 25th and 31st and still suffice to meet the monthly funding requirement as long as the 27-31st are not a weekend/PH etc depending on the month of course.

JazzJohannes

Can I just ask, what does the "roll-over" mean? Can I basically open up one of these accounts, and at maturity date, decide to continue with it? Can I still 'lock it' so that withdrawals are not allowed in the period afterwards? Or do I constantly have to create a new account of this type again?

liamcov

When it matures, the funds are normally transferred to your current account, then the account 'rolls over' for a new period at £0 balance which you then add to as normal.