Regular Savings Accounts: The Best Currently Available List!

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."

jaypers

I find it bizarre that the MSE best savings guide hasn’t mentioned the Virgin RS at 10% yet. Still saying Principality at 8% is best open to all and First Direct at 7% is the best existing customer rate. Foot off the gas here methinks! 

trickydicky14

jaypers said:

I find it bizarre that the MSE best savings guide hasn’t mentioned the Virgin RS at 10% yet. Still saying Principality at 8% is best open to all and First Direct at 7% is the best existing customer rate. Foot off the gas here methinks! 

It’s been said on this site many times, MSE are not the quickest dog out of the trap when it comes to these sorts of things, folks need to look beyond this site to keep up to date but saying that it’s a good site in the round.

jaypers

trickydicky14 said:

jaypers said:

I find it bizarre that the MSE best savings guide hasn’t mentioned the Virgin RS at 10% yet. Still saying Principality at 8% is best open to all and First Direct at 7% is the best existing customer rate. Foot off the gas here methinks! 

It’s been said on this site many times, MSE are not the quickest dog out of the trap when it comes to these sorts of things, folks need to look beyond this site to keep up to date but saying that it’s a good site in the round.

Agree….MSE site is excellent. These forums are also pretty great and it was thanks to the OP a couple of days ago that I knew about the account on the day of launch.