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Regular Savings Accounts: The Best Currently Available List!

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  • surreysaver
    surreysaver Posts: 4,890 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    New Monmouth RS @6% - in their Savings Terms and conditions - "If we intend to lower the interest rate, we’ll let you know at least 30 days before the change happens, using letter, email, or text. If you’re not happy about the change, you
    can close your account or move the money to another one. If you do this within the 30 days, you won’t have to pay any charges or lose any interest. We’ll assume you accept the change unless you tell us otherwise"
    I think it is worth the hassle if you have exhausted matching or higher paying interest accounts especially with the present climate of reducing rates.
    The above T&C`s mean you can withdraw your money if they reduce the rate by closing the account with no loss of interest. I am happy to get 6% on £500/month for knowing this. It`s a new account and I would be hopeful that they would not reduce the rate any time soon.
    It also keeps your Monmouthshire BS membership continuing in case they offer another member exclusive RS in the future.

    I personally always keep an separate easy access saver with every bank/BS I use precisely for this reason, usually something that can be opened with £1 balance. That way I don't need to worry about any breaks in membership, or run into issues I've seen in the past where some BS only take into account the most recent uninterrupted stretch of membership for loyalty product eligibility. Opening and closing RS accounts doesn't really matter then if you've also got an easy access account also ticking along in the background which maintains a constant membership.
    It also keeps your online access working to save any faff if coming back to an organisation you previously had a relationship with 
    I consider myself to be a male feminist. Is that allowed?
  • jameseonline
    jameseonline Posts: 1,142 Forumite
    1,000 Posts First Anniversary Name Dropper
    edited 21 August 2024 at 12:58PM
    I'm struggling to work out what to put for the address details for Virgin Money because I want interest to go to my Virgin Money account.

    Don't think Cardiff has a branch anymore.

    Do I put that address down as that's where I opened it or does Monmouthshire want a Virgin Money HQ address?
  • I'm struggling to work out what to put for the address details for Virgin Money because I want interest to go to my Virgin Money account.

    Don't think Cardiff has a branch anymore.

    Do I put that address down as that's where I opened it or does Monmouthshire want a Virgin Money HQ address?
    Put whatever it says the address is from your last bank statement (in case you need to send them a copy to verify it).
  • jameseonline
    jameseonline Posts: 1,142 Forumite
    1,000 Posts First Anniversary Name Dropper
    edited 21 August 2024 at 1:30PM
    I'm struggling to work out what to put for the address details for Virgin Money because I want interest to go to my Virgin Money account.

    Don't think Cardiff has a branch anymore.

    Do I put that address down as that's where I opened it or does Monmouthshire want a Virgin Money HQ address?
    Put whatever it says the address is from your last bank statement (in case you need to send them a copy to verify it).
    So 

    The team at Virgin Money
    Sunderland 
    SR43 4JB

    Then, thanks

    I just did sort code checker with my account details too seems to be same address.

    Just submitted an application for their Instant Saver hopefully I'll get it
  • allegro120
    allegro120 Posts: 1,976 Forumite
    1,000 Posts Second Anniversary Name Dropper
    I'm thinking it might be worth exploring opening an easy access account with Monmouthshire now.

    Had a regular saver with them ages ago, did nothing with it after funding it once because I didn't realise how old fashioned they were, like they sent passbook, had no idea what they were, for a while they kept being like we can send you a cheque etc, eventually more recently they were like they can send money back to the account I paid them from.

    So my question would be are they still going to give me a passbook?, can I easily get at MY money ?, they still old fashioned etc?
    They send passbook by post, but you don't have to send it back to get your money. On maturity, I let the accounts morph into easy access and request transfer from there to my bank account.
    Do Monmouthshire require me to do paperwork so like signatures, do I need to get codes or whatever to my phone/through post?, send ID etc?.

    Is the website easy to request my money out, like they do fast payments?, will I be wanting several days for money?.

    Sorry if this seems a bit much but I want to be sure before starting things up again with them, even if this time I'm only going to initially set up an easy access with them to build up loyalty/get in the system 
    I applied as a new customer in December 2022.  I had to send them the application form by post.  No sending IDs was required, just signed application form.  I've sent it to a small branch rather than head office, so it was dealt with very quickly.  Since then I always apply online. I can't recall any complications.  I don't know what the procedure for new customers (none-members) is now.
    Requesting money is easy, the do FP but they don't deliver at weekends. One of my RS matured on Saturday and I didn't get the money until Monday.
  • Snapdragon
    Snapdragon Posts: 341 Forumite
    Part of the Furniture 100 Posts Name Dropper
    Monmouthshire BS

    Anyone else got their 7% saver maturing shortly and not had any maturity info yet? 
    My 8% matures next Friday (30th) and I finally got the maturity letter this week, and the 7% matures 04/09 so surprised I've not heard anything from them about maturity options yet. I was hoping I could maybe give maturity instructions if I signed in, but there isn't anything about maturity options online. Am guessing I will just have to let them mature into Easy Access and move the money myself afterwards. On that thought, will they open new EA accounts or use the one I already have?
  • allegro120
    allegro120 Posts: 1,976 Forumite
    1,000 Posts Second Anniversary Name Dropper
    edited 21 August 2024 at 3:39PM
    Monmouthshire BS

    Anyone else got their 7% saver maturing shortly and not had any maturity info yet? 
    My 8% matures next Friday (30th) and I finally got the maturity letter this week, and the 7% matures 04/09 so surprised I've not heard anything from them about maturity options yet. I was hoping I could maybe give maturity instructions if I signed in, but there isn't anything about maturity options online. Am guessing I will just have to let them mature into Easy Access and move the money myself afterwards. On that thought, will they open new EA accounts or use the one I already have?
    They will morph your RS into EA, so no different account numbers.
    I think leaving it to morph and withdraw is the easiest way, other methods are more complicated.
  • 10_66
    10_66 Posts: 3,474 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 21 August 2024 at 3:38PM
    Monmouthshire BS

    Anyone else got their 7% saver maturing shortly and not had any maturity info yet? 
    My 8% matures next Friday (30th) and I finally got the maturity letter this week, and the 7% matures 04/09 so surprised I've not heard anything from them about maturity options yet. I was hoping I could maybe give maturity instructions if I signed in, but there isn't anything about maturity options online. Am guessing I will just have to let them mature into Easy Access and move the money myself afterwards. On that thought, will they open new EA accounts or use the one I already have?
    If you wish to re-invest with them, you can give instructions via;
    apply.monbs.com/switch-savings
  • 10_66 said:
    Monmouthshire BS

    Anyone else got their 7% saver maturing shortly and not had any maturity info yet? 
    My 8% matures next Friday (30th) and I finally got the maturity letter this week, and the 7% matures 04/09 so surprised I've not heard anything from them about maturity options yet. I was hoping I could maybe give maturity instructions if I signed in, but there isn't anything about maturity options online. Am guessing I will just have to let them mature into Easy Access and move the money myself afterwards. On that thought, will they open new EA accounts or use the one I already have?
    If you wish to re-invest with them, you can give instructions via;
    apply.monbs.com/switch-savings
    For that you need the Security Code from the maturity letter
  • WillPS
    WillPS Posts: 5,218 Forumite
    Part of the Furniture 1,000 Posts Newshound! Name Dropper
    I'm thinking it might be worth exploring opening an easy access account with Monmouthshire now.

    Had a regular saver with them ages ago, did nothing with it after funding it once because I didn't realise how old fashioned they were, like they sent passbook, had no idea what they were, for a while they kept being like we can send you a cheque etc, eventually more recently they were like they can send money back to the account I paid them from.

    So my question would be are they still going to give me a passbook?, can I easily get at MY money ?, they still old fashioned etc?
    They send passbook by post, but you don't have to send it back to get your money. On maturity, I let the accounts morph into easy access and request transfer from there to my bank account.
    Do Monmouthshire require me to do paperwork so like signatures, do I need to get codes or whatever to my phone/through post?, send ID etc?.

    Is the website easy to request my money out, like they do fast payments?, will I be wanting several days for money?.

    Sorry if this seems a bit much but I want to be sure before starting things up again with them, even if this time I'm only going to initially set up an easy access with them to build up loyalty/get in the system 
    In common with all building societies I know of (other than Nationwide) you won't have immediate access to your money unless you go to an agency or branch; in the case of the former there are limits on the amount of cash but they'll normally sort out a cheque for you. You can request a withdrawal online but there will be a wait.

    They will likely send paperwork for you to sign and return in the post, depending on whether or not they can revive the profile you had from last time.

    In order to get web access you need to wait for your passbook to be sent out, which will have your account number - then sign up. Then wait for them to send you an activation code by post. An app is promised and slated for the end of the year, but I imagine it'll be the same procedure then.

    Incidentally my wife and I 'nipped' to our nearest agency recently (Hereford, 2.5 hrs drive from Nottm - we didn't go specifically for the building society!) and received very good service; passbooks all dutifullly made up and my wife got her name changed - another one off the list!

    I'm very happy with the service we've received from Monmouthshire but it's certainly not a good fit if immediacy and modernity are priorities for you.
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