Regular Savings Accounts: The Best Currently Available List!

masonic

FIREmenow said:

I think I saw someone mention on here renewing the Club Lloyds Monthly Saver to push the rate further into next year. How long does it take between closing and being allowed to open again please? 

Wondering whether to risk it tomorrow, I saw at least one person was caught mid-closing/refreshing when Santander reissued the Edge Saver at a lower rate.

You can get it done intra-day. Unlike Santander, there is no waiting around for someone to manually process the closure.

However, unlike Santander, this is a regular saver account, so you cannot simply refill it to its previous balance. The more months of the year it sits with a £400, £800 etc balance, the less interest you will receive. So renewing comes at a price.

FIREmenow

masonic said:

FIREmenow said:

I think I saw someone mention on here renewing the Club Lloyds Monthly Saver to push the rate further into next year. How long does it take between closing and being allowed to open again please? 

Wondering whether to risk it tomorrow, I saw at least one person was caught mid-closing/refreshing when Santander reissued the Edge Saver at a lower rate.

You can get it done intra-day. Unlike Santander, there is no waiting around for someone to manually process the closure.

However, unlike Santander, this is a regular saver account, so you cannot simply refill it to its previous balance. The more months of the year it sits with a £400, £800 etc balance, the less interest you will receive. So renewing comes at a price.

Thanks @masonic good to know it's quick.
Need to look at all my accounts and decide if restarting is worth it.

However, it would push the interest payment into next tax year, which might bust the savings allowance and cancel out the benefit.

mattojgb

Chase feeder account

Does this account provide any warning if there's not enough money in the account to cover forthcoming standing orders?

Thanks

solartom

Re Monmouth Exclusive RS
Just heard back from Mommouth after sending message this morning 
they are stating that i have reached max balance for account and that funds would be back in my feeder account by end of play today 
i have quoted their own t&c back as discussed in thread that it says nowhere that there is max balance of £ 3600 and asked them to  please check again and get back to me

SavingsBoo

Monmouthshire BS Regular Savers

I finally managed to log back into my online MBS account today (for the two regular savers due to mature this month and next month) and noticed that the 'Next interest due date' on both is showing as 31/03/25.  I know on maturity they will automatically shift to the MBS Easy Saver from which I can close or withdraw and presumably the interest will be calculated and paid then but am slightly taken aback by the date of 31/03/25 shown!  There was no interest paid on 31/03/24 and I'm checking the T&C just now and can't see any reference to when interest is actually paid.

gt94sss2

SavingsBoo said:

Monmouthshire BS Regular Savers

I finally managed to log back into my online MBS account today (for the two regular savers due to mature this month and next month) and noticed that the 'Next interest due date' on both is showing as 31/03/25.  I

The interest will be added to your regular savers on maturity before transferring to an easy saver (if that is your maturity option)

FishInGlass

solartom said:

Re Monmouth Exclusive RS
Just heard back from Mommouth after sending message this morning 
they are stating that i have reached max balance for account and that funds would be back in my feeder account by end of play today 
i have quoted their own t&c back as discussed in thread that it says nowhere that there is max balance of £ 3600 and asked them to  please check again and get back to me

I went into branch this morning to chase up why my new Limited Access Saver was showing as pending given I had posted by signature form to them last Wednesday. I was going to take it into branch that day but they were shut until 10am and I was busy. 

Whilst I was there I asked about my 13th payment into the Exclusive Regular Saver only to be told that the T&Cs say a maximum of 12 monthly payments. I didn't want escalate there so I left. I like the building society in a lot of ways especially being local to me but it can be seriously frustrating at times.

fabsaver

FishInGlass said:

solartom said:

Re Monmouth Exclusive RS
Just heard back from Mommouth after sending message this morning 
they are stating that i have reached max balance for account and that funds would be back in my feeder account by end of play today 
i have quoted their own t&c back as discussed in thread that it says nowhere that there is max balance of £ 3600 and asked them to  please check again and get back to me

I went into branch this morning to chase up why my new Limited Access Saver was showing as pending given I had posted by signature form to them last Wednesday. I was going to take it into branch that day but they were shut until 10am and I was busy. 

Whilst I was there I asked about my 13th payment into the Exclusive Regular Saver only to be told that the T&Cs say a maximum of 12 monthly payments. I didn't want escalate there so I left. I like the building society in a lot of ways especially being local to me but it can be seriously frustrating at times.

The terms and conditions do not state a maximum of 12 monthly payments, so I don't know where they have got that idea from. The summary box has an interest illustration based upon 12 monthly payments but nowhere does it state that 12 is a maximum. 

The terms do state "The maximum overall amount that can be paid into the account is £300 each calendar month".

slush

In case I have not missed this on here..

Virgin Regular Saver Exclusive

Save up to £250 a month for 12 months and get a fixed rate of 10.38% AER¹ (10.00% Gross²)

https://uk.virginmoney.com/savings/products/regular_saver_exclusive_issue_1/

If I've missed it on here, sorry for re-posting

flaneurs_lobster

slush said:

In case I have not missed this on here..

Virgin Regular Saver Exclusive

Save up to £250 a month for 12 months and get a fixed rate of 10.38% AER¹ (10.00% Gross²)

https://uk.virginmoney.com/savings/products/regular_saver_exclusive_issue_1/

If I've missed it on here, sorry for re-posting

No worries.

It's been mentioned once or twice...

https://forums.moneysavingexpert.com/discussion/6545230/virgin-money-10-38-regular-monthly-saver#latest