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Regular Savings Accounts: The Best Currently Available List!

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  • Just phoned MMBS and got some additional info from them which I'm sure some others will want to know:

    You can close the new Exclusive Regular Saver issue 2 at any time in the next 12 months, and they will add accrued interest on top of the amount deposited as well.

    Also for info, took nearly 25 minutes of holding before I got to speak to someone, so they seem to be very busy today!
    25 minutes wasted when you could have read that in 1-2mins by reading the product info.

    Perhaps one of the reasons why MONBS struggle with applications.
    I read it several times and it doesn't confirm that in the product info.  I shared the information as others on here weren't sure either.  No need to be so rude.
    Blunt, probably, rude no.

    Closure
    Closure of your Regular Saver account is allowed at any time without notice or penalty.
    Yet as they also told me on the phone, those Regular Saver Ts & Cs do not apply to every Regular Saver they open.  That's why those same Ts & Cs also give information that actually do not apply to this new RS, such as 'This account is available to new and existing MBS customers' even when this one is not available to new customers.
  • jim1999 said:
    jim1999 said:
    Does anyone remember the account in recent months that said it was a fix when opened, but then they later wrote and said actually it was a variable?  I'm struggling to come up with any search terms that find it!
     Could it be Co-op?
    Bingo, thanks!

    Seems they've committed to keep the rate the same from October when their other accounts drop, so that's a positive.
    The 7% Regular Saver? Good news that I'd missed.
  • jim1999
    jim1999 Posts: 243 Forumite
    Tenth Anniversary 100 Posts Name Dropper
    jim1999 said:
    jim1999 said:
    Does anyone remember the account in recent months that said it was a fix when opened, but then they later wrote and said actually it was a variable?  I'm struggling to come up with any search terms that find it!
     Could it be Co-op?
    Bingo, thanks!

    Seems they've committed to keep the rate the same from October when their other accounts drop, so that's a positive.
    The 7% Regular Saver? Good news that I'd missed.
    This is the full list: https://www.co-operativebank.co.uk/pdfs/bank/savings/bank-savings-rate-decrease-impacted-products.pdf
  • allegro120
    allegro120 Posts: 1,899 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.
  • jameseonline
    jameseonline Posts: 1,088 Forumite
    1,000 Posts First 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 
  • jim1999
    jim1999 Posts: 243 Forumite
    Tenth Anniversary 100 Posts Name Dropper
    The Mon

    I remember them asking me to post them a bank statement to prove the details were correct for my nominated (external) account, but they accepted a PDF sent via the messaging service.  On the whole I've found them OK, don't remember having to do anything arduous.
  • surreysaver
    surreysaver Posts: 4,828 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: 1,088 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: 1,088 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
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