Regular Savings Accounts: The Best Currently Available List!

castle96

"You can close and set a new one up though unless I've missed something?"   Can you? Where does it say this?

jameseonline

JamesRobinson48 said:

[Deleted User] said:

MonBs

Hello.
I just managed to open the Regular saving  (issue 3 ) 4.75% a week or so before the newer issue was live.

But now they have this Exclusive  RS do you think it worth it to ditch and switch to this one.
BTW  I'm only funded it to 150 per month.

Only you know whether the additional 1.25% p.a. interest is worth the hassle of opening one account and closing another, if you will be saving only small £ amounts.  Bear in mind that the 4.75% RS permits withdrawals during the term, whereas the 6% RS does not, so the account you have already is far more flexible (possibly that's one reason why you opened it in the first place). Also, if you do decide to switch, be sure to open and fund the new RS before closing the old one. Otherwise both your BS membership and online ID will probably expire and you would be back at square one, ineligible for the 6% RS.

I can't see a 4.75% on the site now so possibly an earlier issue unless it's the same as the 4.5% I'm seeing?

Either way does the account malt described have a minimum operating balance?, in which case in theory could move the majority of money out of that account and into another.

friolento

castle96 said:

Santander Edge Saver is now 4.41 from 17/8 (up to 4k)

This is an easy access account, not a Regular Saver account.

That aside, where did you get this information from?

castle96

Sant Edge.... mmm seems so. "only one edge saver per edge current account". So open multiple edge current a/cs and have multiple saver a/cs, each with 6% on £4k.   ???????????

friolento

castle96 said:

Santander Edge Saver is now 4.41 from 17/8 (up to 4k)

This is an easy access account, not a Regular Saver account.

That aside, where did you get this information from?

jameseonline

castle96 said:

"You can close and set a new one up though unless I've missed something?"   Can you? Where does it say this?

Not sure Santander specifically says you can but I've seen several people comment on MSE threads that you can close your edge saver account after the year is up (& possibly before it's up) , leave things for a day or so then open a new one.

Something else too, you don't need to pay into the Edge account every month UNLESS you want the cashback for bills etc

[Deleted User]

jameseonline said:

[Deleted User] said:

jameseonline said:

[Deleted User] said:

MonBs

Hello.
I just managed to open the Regular saving  (issue 3 ) 4.75% a week or so before the newer issue was live.

But now they have this Exclusive  RS do you think it worth it to ditch and switch to this one.
BTW  I'm only funded it to 150 per month.

Were you with Monmouthshire on/before/after they launched the 6% account?

On the 14th of this month my first monies were in account.

You qualify for opening the account it would seem.

But then if you close your existing account would that invalidate you being able to have the new one?.

I don't know, maybe contact them or keep your current one, don't fund it anymore and wait for that to mature, in the meantime open the 6%, and concentrate on funding that going forward.

I'm not sure what else to saying regards to Monmouthshire because I've never really had much of a relationship with them, hopefully someone else can advise better.

Also I'm a bit concerned as to why you opened a 4.75% regular in the 1st place tbh.

You seem to be opening quite a few accounts recently too.

You won't get the best interest if you don't max  regular savings accounts each month AND if you aren't funding the best regulars it's going to be even worse for you.

Further points:

The best regular currently is 10% with Virgin and your current Monmouthshire one is a 4.75%

What you could have done is open an easy access saver with Monmouthshire funded it with a lot less than you put in the 4.75% regular & still be eligible for that 6% and you would have more money to use for funding things.

You have easy access accounts paying 5.08% in the case of Cahoot on upto £3000, Santander Edge Saver 6% on upto £4000, both paying monthly so a 4.75% regular is pretty pointless tbh

Hello James  thanks for your response  to my questions.

I've maxed out my top % Regular Savers now with RBS, First Direct and the virgin 10% one.

I also have already opened a easy access account  with monBS done it a few days after the RS %4.75 was opened.
Since  l started posting on here lve had a few changes so now have extra cash to invest in savings. 

I'm still learning  about what to put where but lm definitely  won't be opening many, if any accounts  now until next year.
I really appreciate  all the advice and insight lm getting of this forum.

Stargunner

castle96 said:

"You can close and set a new one up though unless I've missed something?"   Can you? Where does it say this?

Under help, select chat to Sandi and type close account and then you can go through the process to close it.

castle96

Letter from Sant 16/6.. 6.78% down to 4.41% on 17/8. Lower rate showing now on my a/c

[Deleted User]

JamesRobinson48 said:

[Deleted User] said:

MonBs

Hello.
I just managed to open the Regular saving  (issue 3 ) 4.75% a week or so before the newer issue was live.

But now they have this Exclusive  RS do you think it worth it to ditch and switch to this one.
BTW  I'm only funded it to 150 per month.

Only you know whether the additional 1.25% p.a. interest is worth the hassle of opening one account and closing another, if you will be saving only small £ amounts.  Bear in mind that the 4.75% RS permits withdrawals during the term, whereas the 6% RS does not, so the account you have already is far more flexible (possibly that's one reason why you opened it in the first place). Also, if you do decide to switch, be sure to open and fund the new RS before closing the old one. Otherwise both your BS membership and online ID will probably expire and you would be back at square one, ineligible for the 6% RS.

Yes, the flexibility  was one of the reasons for having the account, and also, l can if need to have a branch to see a human if any issues arise.
I never thought of losing my membership  if l closed the account. Thanks for bringing that to my attention.