Regular Savings Accounts: The Best Currently Available List!

PowerSavingMode

masonic said:

masonic said:

orange-juice said:

FishInGlass said:

Nuggy96 said:

Hmm my beehive RS matured today, I have to either leave £10 to keep it open or close the account to get all the cash. Any recommendation? Are people keeping it in case a good existing deal comes out?

I've left the £10 in as it seemed to be the quickest option. Can always close it later.

RE Beehive RS

Have you received your money already? I went with close but it said it take 1-2 working days😞

You can withdraw ahead of requesting closure. Withdrawals to external nominated accounts are next working day. Whether that will get you your money any faster remains to be seen. We'll find out tomorrow...

Beehive RS maturity

It turns out closure was no slower than withdrawing. Money was there this morning and no need to leave a tenner behind.

I think it goes to show that no two circumstances are the same. Mine still isn't there at 5pm today, after it being closed as soon as it matured. Ah well...

subjecttocontract

Nick_C said:

myth123 said:

Not sure it’s been mentioned but the RS account with VM pays interest 4 times a year… for those trying to manage their PSA limit (as I am!).

“We’ll add any interest on the last working day in March, June, September, and December.”

Damn.  I hadn't spotted that 😟

So about £75 in the current tax year then.

I will have to empty my Santander Edge account in December to compensate for that.

Many thanks for highlighting it.

That is of course assuming there are no adverse changes affecting savers & savings limits in the October Budget.

PowerSavingMode

schiff said:

Has anyone got an email address for Virgin customer services? I'm struggling to log on - I know my customer number and password but they aren't accepted. Severe deafness restricts using the phone. TIA

Not sure how up to date this is, but I found this hello@virginmoney.com

And does this help in any way?

https://uk.virginmoney.com/service/accessibility/hearing-or-speech/

PowerSavingMode

schiff said:

Some of these live chat bots do eventually recognise that you need a person - but not this one. I've pleaded in capitals for a person, then I'm obliged to choose from five irrelevant topics. And it is just immovable and stubborn. I might try a letter!

It is an extremely annoying app, isn't it? I managed to get through to a (not-helpful-at-all live person) by ignoring the bot's suggestions and typing 'agent', and then scrolling right to where the option for 'customer service' (or something like that) button is and selecting that. Good luck!

Hattie627

Co-operative Bank RS

This account (first sold Feb 2024) has a variable (not fixed) rate of interest, currently 7%. Co-op have announced this evening that they are dropping rates on their variable rate accounts (as from mid October) but NOT this one. 

simonsmithsays

Virgin RS

As one of the people who struggle to logon online (have done for years but the app is fine) it took a branch visit to open one.

Virgins Technical department have been trying to sort my login for 24hrs but, then again, they've been trying for a couple of years.

Branch visit very painless 

allegro120

Hattie627 said:

Co-operative Bank RS

This account (first sold Feb 2024) has a variable (not fixed) rate of interest, currently 7%. Co-op have announced this evening that they are dropping rates on their variable rate accounts (as from mid October) but NOT this one. 

Good job Co-op is not Coventry yet.  I recall when rates were falling last time, Coventry didn't spare any variables.

surreysaver

JamesRobinson48 said:

Monmouthshire BS:  RS 13th month

Yesterday I attempted to internally transfer £300 into my two in-flight Monmouthshire BS RS accounts (paying 8% and 7%), both of which mature later this month.  Both transfers were declined, on the grounds that the account maximum balance would be exceeded.  I had previously paid in the max £300 for 12 consecutive months, starting August 2023.

To the best of my knowledge, in each case the account T&Cs specify a monthly max of £300, but no max account balance is stipulated anywhere.

In other words, they're applying a "no 13th month" policy although none is stated in the account T&Cs.

Please, how did anyone in similar circumstances get on?   I assume there would be many in the same boat.  


EDIT:  the MonBS has now sent me a secure message which states: 

"The maximum account balance is £3600".   

So best of luck to everyone trying for a 13th month!

Mine is funded by standing order and the money hasn't come back

TheBanker

allegro120 said:

Hattie627 said:

Co-operative Bank RS

This account (first sold Feb 2024) has a variable (not fixed) rate of interest, currently 7%. Co-op have announced this evening that they are dropping rates on their variable rate accounts (as from mid October) but NOT this one. 

Good job Co-op is not Coventry yet.  I recall when rates were falling last time, Coventry didn't spare any variables.

They might have decided to spare this one given there's been a very recent switcher/cashback promotion involving this account, and they don't want the backlash that would inevitably occur if they cut the rate at this time. Also from a marketing perspective, 7% looks much more attractive than 6.75%, even though 6.75% would still be a very good rate. 

Gers

TheBanker said:

allegro120 said:

Hattie627 said:

Co-operative Bank RS

This account (first sold Feb 2024) has a variable (not fixed) rate of interest, currently 7%. Co-op have announced this evening that they are dropping rates on their variable rate accounts (as from mid October) but NOT this one. 

Good job Co-op is not Coventry yet.  I recall when rates were falling last time, Coventry didn't spare any variables.

They might have decided to spare this one given there's been a very recent switcher/cashback promotion involving this account, and they don't want the backlash that would inevitably occur if they cut the rate at this time. Also from a marketing perspective, 7% looks much more attractive than 6.75%, even though 6.75% would still be a very good rate. 

Already had an email from Coventry which arrived yesterday:

"On 1 August 2024 the Bank of England reduced the Base Rate to 5.00%.

This means we need to review the interest rates on our own variable interest accounts. If your rate will be changing, we’ll be in touch.

We’ll always do what’s right for our members and aim to keep our rates as competitive as possible.

Thank you for saving with us."