Regular Savings Accounts: The Best Currently Available List!

lithosyork

Bigwheels1111 said:

I know but when Hellen from Progressive I think her name was told me to do it.

No issues at all, £1 arrived, then sent £299, 2 mins later.

how long did it take to arrive?  - i sent £1  about an hour ago and waiting to see....  Cheers

Bigwheels1111

lithosyork said:

Bigwheels1111 said:

I know but when Hellen from Progressive I think her name was told me to do it.

No issues at all, £1 arrived, then sent £299, 2 mins later.

how long did it take to arrive?  - i sent £1  about an hour ago and waiting to see....  Cheers

Money goes via Barclays Bank I think, first £1 took 3 hours, £299 took minutes.

I think its down to when they look and see the payments, then send them on to your account vis the ref included with payment.

Bridlington1

ChewyyBacca said:

Bridlington1 said:

Hattie627 said:

Bridlington1 said:

Not a top rate but could be one to open speculatively:
Skipton have launched a Home Deposit Saver Issue 1 at 5.06% (variable). 

Account lasts 24 months
£500/mth max up to a max balance of £12k
Can skip months if necessary
No withdrawals allowed but account can be closed without penalty if necessary

In addition to not requiring a payment every month, unused monthly allowances can be rolled over without limit, so you could (for example) deposit £6,000 (less initial deposit) in month 12 if the rate were to become attractive. As noted, you can escape without penalty at any point by closing the account.

Thanks, I hadn't initially noticed that when skimming through the Ts&Cs.

Also of note is that the account term starts from the date you make your first deposit and not the day you apply for the account so if opening speculatively it could be worth delaying your deposit for as long as possible to push the maturity date on a bit.

• The minimum opening and operating balance for this account is £1.

Can we keep balance = 0, so that the maturity date can be pushed? Anything mentioned in T&Cs, by when the min balance has to be transferred in account to keep it open?

Yes you can keep the balance at nil to push the maturity date on. In my experience they've closed unfunded accounts 30 days after opening them (though you can immediately reopen accounts if still available). 

ETA: From an email regarding a different Skipton account:

lithosyork

Money goes via Barclays Bank I think, first £1 took 3 hours, £299 took minutes.

I think its down to when they look and see the payments, then send them on to your account vis the ref included with payment.

thanks took about 5 hours !

lyic

Progressive Online Regular Rainy Day Saver Account

Does anyone know if this account requires UK citizenship? There is a question in the online application form asking if you are a UK citizen and resident. If you answer no, it seems that they cannot accept your application. However, there does not seem to be any mention in their terms and conditions that they do not offer accounts to non-UK citizens. I can only found the following resident requirement: 

3. Opening an account
3.2 Restrictions
Accounts are only available to UK residents. ...

fonesaver

qbadger said:

Progressive
Does anyone know when payment in starts earning interest? Is it on same/next calendar day or business day basis?

qbadger said:

Progressive
Does anyone know when payment in starts earning interest? Is it on same/next calendar day or business day basis?

qbadger said:

Progressive
Does anyone know when payment in starts earning interest? Is it on same/next calendar day or business day basis?

Interest is calculated on a daily basis up to and including the day before a withdrawal.

For funds lodged into an account by cash, electronic transfer, direct debit and direct credit, interest is paid from the day of receipt. For cheques and debit cards, interest is paid from the day following receipt of the funds.

londoner62

lyic said:

Progressive Online Regular Rainy Day Saver Account

Does anyone know if this account requires UK citizenship? There is a question in the online application form asking if you are a UK citizen and resident. If you answer no, it seems that they cannot accept your application. However, there does not seem to be any mention in their terms and conditions that they do not offer accounts to non-UK citizens. I can only found the following resident requirement: 

3. Opening an account
3.2 Restrictions
Accounts are only available to UK residents. ...

For what it is worth, my British resident, USA national (only) wife has a dozen or so regular savers with different building societies and never has had a problem. The key is their stating 'Resident'. Most times they ask for her TIN and occasionally her NI number. If she had wanted this one she would have applied not expecting any problems (though I do notice on the thread that many are experiencing issues).

SavingsBoo

Tipton & Coseley RS maturing 28th July 24

Is anyone else waiting impatiently for something to happen?  I selected my maturity option in the app last week but so far no interest showing and my balance is still sitting there.

gt94sss2

SavingsBoo said:

Tipton & Coseley RS maturing 28th July 24

Is anyone else waiting impatiently for something to happen?  I selected my maturity option in the app last week but so far no interest showing and my balance is still sitting there.

The account matures on the 31 July.

Special_Saver2

Hi Folks,

I have just updated the first page of this thread.

- Hinckley and Rugby BS Regular Saver 30 Day Notice Account (Issue 2) replaces issue 1 with a lower interest rate (5.1%) and a higher monthly maximum deposit (£1,000), there is no penalty for missing payments (with issue 1 you could only miss one monthly payment), you can only hold one Regular Saver account (irrespective of the issue number) with them at any time. 

- Skipton Home Deposit Saver added to the homebuyer post on page 1 paying 5.06% gross p.a. variable (this interest rate first noted July 2024) on up to £500 per month for 2 years, any unused monthly allowances can be rolled over to future months, up to a maximum of £12,000 over the 24 month term, no withdrawals except for account closure (which you can do without notice and without penalty).

- Vernon BS Online Regular Saver entry I have added this "It may be possible for people living outside this area who are existing members and who joined before 1st May 2024 to open this account by logging on and then selecting the option to open this account according to posts on page 1324 of this thread but doing so is not in line with the stated terms and conditions of the account."

I will do the next update within the next 2 weeks.

SS2

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