Regular Savings Accounts: The Best Currently Available List!

nottsphil

ColdIron said:

nottsphil said:

Iýigggggggg

Cat on an unguarded keyboard?

That made me laugh!
On a phone actually, and got into a situation where I quoted somebody then must have tapped that field, which then stopped me from accessing the reply field. I could only add to or amend the quote, so consequently the error message came up '8 characters too short'. Very frustrating, as there is no option to cancel the post and it just reappeared after logging back in. In desperation, I then tried deleting everything in the quote and tapped 'Post Comment', but was somewhat alarmed to find that Martin might want my body. I just entered some random characters and inexplicably, it worked.

Sussex_Green_Man

ForumUser7 said:

On the subject of Beehive. Maximum balance is 3500 on their Online Fixed Regular Saver. Interest added last July means that less than £250 can be deposited before reaching the 3500 limit. Worth bearing in mind in case they return the payment if it takes it over the max balance. Anyone had any experience with this before at Beehive? Do they count the interest in that figure please? Thanks

At £250 per month £3500 allows for 14 payments so plenty of headroom for this 12 month RS.  I will be making my 13th payment on Monday (01/07/24).

ctdctd

Sussex_Green_Man said:

ForumUser7 said:

On the subject of Beehive. Maximum balance is 3500 on their Online Fixed Regular Saver. Interest added last July means that less than £250 can be deposited before reaching the 3500 limit. Worth bearing in mind in case they return the payment if it takes it over the max balance. Anyone had any experience with this before at Beehive? Do they count the interest in that figure please? Thanks

At £250 per month £3500 allows for 14 payments so plenty of headroom for this 12 month RS.  I will be making my 13th payment on Monday (01/07/24).

Beehive:-

Interesting - my balance at the moment is £3252.63 and £250 on 1st July would indeed take me over £3500.

Just in case, I shall knock the final payment down to keep within the T&C's

jaypers

ctdctd said:

Sussex_Green_Man said:

ForumUser7 said:

On the subject of Beehive. Maximum balance is 3500 on their Online Fixed Regular Saver. Interest added last July means that less than £250 can be deposited before reaching the 3500 limit. Worth bearing in mind in case they return the payment if it takes it over the max balance. Anyone had any experience with this before at Beehive? Do they count the interest in that figure please? Thanks

At £250 per month £3500 allows for 14 payments so plenty of headroom for this 12 month RS.  I will be making my 13th payment on Monday (01/07/24).

Beehive:-

Interesting - my balance at the moment is £3252.63 and £250 on 1st July would indeed take me over £3500.

Just in case, I shall knock the final payment down to keep within the T&C's

Exactly the same for me and hadn’t thought of that. I’ll do the same as it’s clear in the T&Cs - “The most you can pay into the account is £250 per month, up to a maximum account balance of £3,500.”
https://www.beehivemoney.co.uk/media/w3gpby2j/fixed-regular-saver.pdf

wiseonesomeofthetime

Yeah, it's clear that "the most you can pay in the month is £250"

That is all that YOU have actually PAID IN, so that £3500 can be breached imo.

My £250 SO for Monday remains.

Growingold

If anyone is struggling to make their last payment into Beehive in July, that is if available funds are running low , then just be aware that a deposit of £250 for the final month will only attract £1.25 interest on that final payment.  

wiseonesomeofthetime

Growingold said:

If anyone is struggling to make their last payment into Beehive in July, that is if available funds are running low , then just be aware that a deposit of £250 for the final month will only attract £1.25 interest on that final payment.  

.....and, in my case, as my fixed rate bonds that spit out interest mid-term may have eaten all my PSA already (yup - it's that's separate debate on whether it appears in this year's tax figures as it was added to a bond I cannot access until maturity!), it could earn me a quid, net of 20% tax on savings interest.

Still paying £250 in on Monday. Want to see how Beehive handle the balance exceeding the maximium allowed account balance of £3,500 due to them adding a few quid interest on 31 July last year.

Gers

ctdctd said:

Sussex_Green_Man said:

ForumUser7 said:

On the subject of Beehive. Maximum balance is 3500 on their Online Fixed Regular Saver. Interest added last July means that less than £250 can be deposited before reaching the 3500 limit. Worth bearing in mind in case they return the payment if it takes it over the max balance. Anyone had any experience with this before at Beehive? Do they count the interest in that figure please? Thanks

At £250 per month £3500 allows for 14 payments so plenty of headroom for this 12 month RS.  I will be making my 13th payment on Monday (01/07/24).

Beehive:-

Interesting - my balance at the moment is £3252.63 and £250 on 1st July would indeed take me over £3500.

Just in case, I shall knock the final payment down to keep within the T&C's

As with other organisations Beehive won't count the interest towards what you have paid in. Otherwise they wouldn't pay interest part way through your years cycle.

Here's the T&Cs and here's a snippet from them:

 

What would the estimated balance be after 12months based on a £3,000 deposit?
Projected balance: £ 3,097.50
This projection is for illustrative purposes only and is based on the following assumptions:
• An account opening date of 27/06/2023 with a £250 deposit, followed by 11 monthly deposits of the same amount on the same day each month.
• No change to the interest rate during the fixed rate period
• Interest is paid annually and straight into your account.
• No withdrawals

Wheres_My_Cashback

Gers said:

ctdctd said:

Sussex_Green_Man said:

ForumUser7 said:

On the subject of Beehive. Maximum balance is 3500 on their Online Fixed Regular Saver. Interest added last July means that less than £250 can be deposited before reaching the 3500 limit. Worth bearing in mind in case they return the payment if it takes it over the max balance. Anyone had any experience with this before at Beehive? Do they count the interest in that figure please? Thanks

At £250 per month £3500 allows for 14 payments so plenty of headroom for this 12 month RS.  I will be making my 13th payment on Monday (01/07/24).

Beehive:-

Interesting - my balance at the moment is £3252.63 and £250 on 1st July would indeed take me over £3500.

Just in case, I shall knock the final payment down to keep within the T&C's

As with other organisations Beehive won't count the interest towards what you have paid in. Otherwise they wouldn't pay interest part way through your years cycle.

Here's the T&Cs and here's a snippet from them:

 

What would the estimated balance be after 12months based on a £3,000 deposit?
Projected balance: £ 3,097.50
This projection is for illustrative purposes only and is based on the following assumptions:
• An account opening date of 27/06/2023 with a £250 deposit, followed by 11 monthly deposits of the same amount on the same day each month.
• No change to the interest rate during the fixed rate period
• Interest is paid annually and straight into your account.
• No withdrawals

I shall be leaving mine at £250 as have never known an organisation to include any paid interest within deposit limits of an RS.

All it needs in the T&Cs is...excl. interest....to make it clear.

pokemaster

Looks like Virgin are thinking about doing a regular saver soon, but might be limited to customers who opened a current account before a certain date