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Regular Savings Accounts: The Best Currently Available List!

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  • Both of my YBS 7.0% and Nationwide 8.0% regular savers have received their 12th payments last month, and are due to mature at some point this month.

    Is it possible/worthwhile depositing another payment? I think some people complained  a while ago, about Mon BS not applying interest properly to the 13th payment as the account had reached the deposit limit (12 monthly payments)?

    YBS 7% has a max balance of £6000 so if you've done 12 x £500 then no 13th payment.
    Nationwide 8% has no such restrictions and should be ok for a 13th.
    My 13th payment to a Nationwide Flex Regular Saver Issue 2 which also made no reference to a restriction was rejected and returned instantly this morning.
  • My Nationwide account is showing £200 set to go tomorrow.
    Making £2600.
    Lets see what happens.
  • OneUser1 said:
    According to Moneyfacts, Coventry BS will launch a new RS:

    Sunny Day Saver  -  6.25% p.a., 12 month term, max £150 pm, max investment £1950.

    It's unclear if the interest rate is to be fixed or variable, but on past form I assume it'll be variable.
    It's variable. Full Ts&Cs below:

    https://secure.coventrybuildingsociety.co.uk/savings-and-investments/productfeatures.aspx?prodCode=SDS&CTALinks=False

    It's currently available to open in online banking, I've just opened it.

    Thanks. TBH, I can't remember any RS product ever having been launched on a Sunday. I feel this might be a first.
    I must confess it took me by surprise, I don't usually check moneyfacts on Sundays for this reason. That being said it's a nice surprise and I've sent funds over to it.

    It goes by calendar month so if it's still available towards the end of the month I'll refresh it to get the 13th payment in.
    Forgive my ignorance but what do you mean by "If it’s available towards the end of the month I’ll refresh it to get the 13th payment in"?
    The account runs on a calendar month basis. Thus for maximum interest you'd want to open/fund the account on the last day of the month, then make all further deposits on 1st.

    The account also allows penalty-free early closure.

    I've opened and funded the account this morning. If the account is still available at the end of the month I'll close the account then and immediately open and fund a new one, pushing the maturity date to the end of September 2025 and enabling me to get a 13th payment in (S, O, N, D 2024 and J, F, M, A, M, J, J, A, S 2025).
    Thank you for the explanation. That makes sense and as well as the 13th payment into the new account you will have already had the month earning interest in the old account.

    But presumably there is a non-zero risk you will close the old account and Coventry’s systems won’t allow you to open a new account the same day? Plus the possibility that the account could be withdrawn if there’s a whole day’s delay?
  • Both of my YBS 7.0% and Nationwide 8.0% regular savers have received their 12th payments last month, and are due to mature at some point this month.

    Is it possible/worthwhile depositing another payment? I think some people complained  a while ago, about Mon BS not applying interest properly to the 13th payment as the account had reached the deposit limit (12 monthly payments)?

    YBS 7% has a max balance of £6000 so if you've done 12 x £500 then no 13th payment.
    Nationwide 8% has no such restrictions and should be ok for a 13th.
    My 13th payment to a Nationwide Flex Regular Saver Issue 2 which also made no reference to a restriction was rejected and returned instantly this morning.
    My 13th payment has also been accepted, with the account due to close 21st September 2024
  • Both of my YBS 7.0% and Nationwide 8.0% regular savers have received their 12th payments last month, and are due to mature at some point this month.

    Is it possible/worthwhile depositing another payment? I think some people complained  a while ago, about Mon BS not applying interest properly to the 13th payment as the account had reached the deposit limit (12 monthly payments)?
    YBS max deposit of £6k so if you've made the maximum allowed per month already, then no. 
    Nationwide I've searched, and I originally set up 13 payments, so it must be allowed. It hasn't bounced back yet.
    I consider myself to be a male feminist. Is that allowed?
  • dealyboy
    dealyboy Posts: 1,933 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Both of my YBS 7.0% and Nationwide 8.0% regular savers have received their 12th payments last month, and are due to mature at some point this month.

    Is it possible/worthwhile depositing another payment? I think some people complained  a while ago, about Mon BS not applying interest properly to the 13th payment as the account had reached the deposit limit (12 monthly payments)?

    YBS 7% has a max balance of £6000 so if you've done 12 x £500 then no 13th payment.
    Nationwide 8% has no such restrictions and should be ok for a 13th.
    My 13th payment to a Nationwide Flex Regular Saver Issue 2 which also made no reference to a restriction was rejected and returned instantly this morning.
    Odd, my 13th was accepted this AM, account now sitting with £2600 and an anniversary date of 21 Sep 24.
    ... ditto exactly ... I transferred £200 from my Flex Direct account this morning, the Flex Direct transaction is dated 02 September showing 'Withdrawal 01 September'.
  • pafpcg
    pafpcg Posts: 928 Forumite
    Tenth Anniversary 500 Posts Name Dropper
    Kim_13 said:
    liamcov said:
    My Monmouthshire maturity letter says if I want to withdraw to my nominated account (which they should already have details of) I need to send a original/certified copy of bank statement - any way around this?
    Withdraw to an EA that already has the bank account set up on it, if you have one? Ridiculous that they won’t accept a PDF, though they aren’t the only ones. I guess Mon BS doesn’t have a secure upload facility, either. It has meant me selecting nominated accounts based on having/being able to get a paper statement, when I would prefer to use them roughly equally.
    There is a facility to upload files to MonmouthshireBS in the "Messages" section of the web-site once logged-in.

  • 2010
    2010 Posts: 5,464 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 1 September 2024 at 1:25PM
    13 x £200 payments into NW over the year making how much in interest.

    Is it £120?
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    100 Posts Name Dropper Photogenic
    edited 31 October 2024 at 1:46PM
    LZC said:
    Both of my YBS 7.0% and Nationwide 8.0% regular savers have received their 12th payments last month, and are due to mature at some point this month.

    Is it possible/worthwhile depositing another payment? I think some people complained  a while ago, about Mon BS not applying interest properly to the 13th payment as the account had reached the deposit limit (12 monthly payments)?
    Yes,  l deposited £200 this morning for the NW 8% RS.
    Is it showing as received on 1st or 2nd (tomorrow)? I had Nationwide down as one where it doesn’t get credited at weekends. 
    I sent it at 9.23am this morning and just checked it's been "excepted " as received  in my RS8%  so now £2600 in RS. My account  matures  on 22 Sept.
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