Regular Savings Accounts: The Best Currently Available List!

Special_Saver2

Hi Folks,

Here is this weekend's update to this thread.

- Coventry BS Regular Saver issue 2 replaced with issue 3 paying 1.55% (updated in post 3)

I will do the next update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

bubieyehyeh

1882 said:

Monmouthshire BS have asked me for an original or certified copy of a bank statement before accepting my current account for withdrawals. My Nationwide FlexDirect doesn't and wont issue paper statements. What's the solution, get the branch to issue something? In theory at least, I'm not supposed to use the branch either with this account.

I asked if a voided cheque would prove ownedship of account, and they said it would.

Speculator

Speculator said:

schiff said:

Chorley BS
Slick procedure when the Loyalty Season Saver matures on 31.10.2020. Form and envelope provided to roll over to the new LSS, interest rate 1.35% variable. Roll over is nominal at £1 but no doubt topping up will follow. No need to complete a full application. The balance of the matured funds paid to the nominated account - they say the same day but it's a Saturday. 

As I understand it, the £1 rollover will be dated 31/10/2020 so you  probably won't be able to top it up.
Next S/O payment will be 1/11/2020. Account no. and sortcode remains the same so just need to amend existing Standing order to say £250.
Also, does anyone know if we need to return the passbook with the maturity form? Doesn't mention anywhere that we have to return our passbooks.

To answer my own question, they don't need your passbook with the maturity form.

I've decided to choose option 2 because 1.35% is too low (they are paying 1.85% on the Members Reg) and no withdrawals even if they reduce the interest rate.

snow62

1882 said:

Monmouthshire BS have asked me for an original or certified copy of a bank statement before accepting my current account for withdrawals. My Nationwide FlexDirect doesn't and wont issue paper statements. What's the solution, get the branch to issue something? In theory at least, I'm not supposed to use the branch either with this account.

Similar to dcs34: I printed the latest statement from pdf, and also sent them the last statement I received in the post before it went to online statements.  That worked fine and they sent them back with the letter of confirmation.  Admittedly that doesn't necessarily help if you've only ever had online statements.

schiff

I can never work out why building societies need to see the current account statement. What is it for: Are you money laundering? Can you afford to invest £250? Are you who you say you are? What can they work out from it? I know they are probably following some of the legal requirements but some common sense should be exercised; it's not a loan or mortgage where that could be reasonably adhered to. I consider my regular current account as personal and very private (and no, I don't have subs to !!!!!! sites and Al Quaeda). I've resisted every request so far without a comeback and will continue doing so.

granta

schiff said:

I can never work out why building societies need to see the current account statement. What is it for: Are you money laundering? Can you afford to invest £250? Are you who you say you are? What can they work out from it? I know they are probably following some of the legal requirements but some common sense should be exercised; it's not a loan or mortgage where that could be reasonably adhered to. I consider my regular current account as personal and very private (and no, I don't have subs to !!!!!! sites and Al Quaeda). I've resisted every request so far without a comeback and will continue doing so.

I share your views! I just send them a statement from a current account that has virtually no transactions. M and S still send me paper statements that does nicely. 

surreysaver

granta said:

schiff said:

I can never work out why building societies need to see the current account statement. What is it for: Are you money laundering? Can you afford to invest £250? Are you who you say you are? What can they work out from it? I know they are probably following some of the legal requirements but some common sense should be exercised; it's not a loan or mortgage where that could be reasonably adhered to. I consider my regular current account as personal and very private (and no, I don't have subs to !!!!!! sites and Al Quaeda). I've resisted every request so far without a comeback and will continue doing so.

I share your views! I just send them a statement from a current account that has virtually no transactions. M and S still send me paper statements that does nicely. 

Its a box ticking exercise. It doesn't prove anything. It just ticks a box and keeps some manager somewhere busy. 

veryintrigued

Notts BS RS
This (original) RS is having its rate reduced to 0.55% with bonus ( 0.05 without) from 1st October.

I wonder if the fantastic rate promise they made as Covid closed in is now coming to an end for all their other RS?

Edit - reading the letter it states '...we have now taken the decision to lower our savings rates...'.

Hence those with their other RS brace yourselves for a few letters in the next few days.

liamcov

veryintrigued said:

Notts BS RS
This (original) RS is having its rate reduced to 0.55% with bonus ( 0.05 without) from 1st October.

I wonder if the fantastic rate promise they made as Covid closed in is now coming to an end for all their other RS?

Edit - reading the letter it states '...we have now taken the decision to lower our savings rates...'.

Hence those with their other RS brace yourselves for a few letters in the next few days.

Yes you must be right. That's a shame. My only variable rate product with them is the RS issue 2 which is currently at 2%. I guess I'll be closing more than just the Seasonal Saver come 30 November.

JamesRobinson48

schiff said:

Chorley BS
Slick procedure when the Loyalty Season Saver matures on 31.10.2020. Form and envelope provided to roll over to the new LSS, interest rate 1.35% variable. Roll over is nominal at £1 but no doubt topping up will follow. No need to complete a full application. The balance of the matured funds paid to the nominated account - they say the same day but it's a Saturday. 

I have been expecting, but haven't yet received, this letter from the Chorley BS.  Please, is anyone else in the same boat?