Regular Savings Accounts: The Best Currently Available List!

dealyboy

ForumUser7 said:

Same question for Nationwide Flex RS 2 - Can we set our own maturity preference please?

Hi ... adapted from a recent e-mail ...

Your Flex Regular Saver Issue 2 is about to mature     An update about your Flex Regular Saver Issue 2 Dear @ForumUser7 , A quick reminder that your Flex Regular Saver Issue 2 is about to mature soon, as mentioned in your Terms and Conditions. On 21 September 2024, it will become an Instant Access Saver 10 and the interest rate at the time will apply. And because it’s instant access, you’ll be able to dip into your savings whenever you like. Take a look at the account’s Summary Box and product terms and conditions to see all the details.     What’s next for your savings? Keep your Instant Access Saver 10 once your account matures: in which case, you don’t have to do anything else. Explore our wide range of savings accounts: you’ll find them all on our Savings homepage. And if you see an account you like the look of, you can open that and move your money across at any time. Withdraw all your money and close your account: if you wanted to move your savings to another provider, then this is also an option and we can support you in doing so – although we hope you’ll find everything you need here at Nationwide. If you decide to open a new account or close your existing one, you can do this through the Internet Bank (if you’re registered), or online here. Whatever you choose to do, we look forward to continuing to help you take care of your savings.     Thank you for being a member. Your Nationwide Savings Team

ForumUser7

dealyboy said:

ForumUser7 said:

Same question for Nationwide Flex RS 2 - Can we set our own maturity preference please?

Hi ... adapted from a recent e-mail ...

Your Flex Regular Saver Issue 2 is about to mature     An update about your Flex Regular Saver Issue 2 Dear @ForumUser7 , A quick reminder that your Flex Regular Saver Issue 2 is about to mature soon, as mentioned in your Terms and Conditions. On 21 September 2024, it will become an Instant Access Saver 10 and the interest rate at the time will apply. And because it’s instant access, you’ll be able to dip into your savings whenever you like. Take a look at the account’s Summary Box and product terms and conditions to see all the details.     What’s next for your savings? Keep your Instant Access Saver 10 once your account matures: in which case, you don’t have to do anything else. Explore our wide range of savings accounts: you’ll find them all on our Savings homepage. And if you see an account you like the look of, you can open that and move your money across at any time. Withdraw all your money and close your account: if you wanted to move your savings to another provider, then this is also an option and we can support you in doing so – although we hope you’ll find everything you need here at Nationwide. If you decide to open a new account or close your existing one, you can do this through the Internet Bank (if you’re registered), or online here. Whatever you choose to do, we look forward to continuing to help you take care of your savings.     Thank you for being a member. Your Nationwide Savings Team

Thanks @dealyboy - I got their email but was hoping there was some way to for example make it so the account closed on maturity and automatically transferred funds and interest to the nationwide current account. I'm not sure why some providers seem to offer a wide range of maturity options, and others just convert the account. It's not very consistent. Must be because they can make more money as some people wouldn't move the funds right away

dealyboy

ForumUser7 said:

dealyboy said:

ForumUser7 said:

Same question for Nationwide Flex RS 2 - Can we set our own maturity preference please?

Hi ... adapted from a recent e-mail ...

Your Flex Regular Saver Issue 2 is about to mature     An update about your Flex Regular Saver Issue 2 Dear @ForumUser7 , A quick reminder that your Flex Regular Saver Issue 2 is about to mature soon, as mentioned in your Terms and Conditions. On 21 September 2024, it will become an Instant Access Saver 10 and the interest rate at the time will apply. And because it’s instant access, you’ll be able to dip into your savings whenever you like. Take a look at the account’s Summary Box and product terms and conditions to see all the details.     What’s next for your savings? Keep your Instant Access Saver 10 once your account matures: in which case, you don’t have to do anything else. Explore our wide range of savings accounts: you’ll find them all on our Savings homepage. And if you see an account you like the look of, you can open that and move your money across at any time. Withdraw all your money and close your account: if you wanted to move your savings to another provider, then this is also an option and we can support you in doing so – although we hope you’ll find everything you need here at Nationwide. If you decide to open a new account or close your existing one, you can do this through the Internet Bank (if you’re registered), or online here. Whatever you choose to do, we look forward to continuing to help you take care of your savings.     Thank you for being a member. Your Nationwide Savings Team

Thanks @dealyboy - I got their email but was hoping there was some way to for example make it so the account closed on maturity and automatically transferred funds and interest to the nationwide current account. I'm not sure why some providers seem to offer a wide range of maturity options, and others just convert the account. It's not very consistent. Must be because they can make more money as some people wouldn't move the funds right away

Nationwide Flex Regular Saver Issue 2

Yeah, they all seem to have their own bespoke way of doing things ... I don't remember a bank/bs doing the bleeping obvious. Regarding your thought, FD comes to mind .

jameseonline

I guess it's because providers aren't really bothered about what makes sense for us but what makes sense for them, so going from a high paying regular then converting it to a low easy access then we move money from that into current (then out) or to other savings account with same provider.

Basically the provider would rather you earn the worst rates possible by leaving it up to us to move money, close account etc.

Not everyone is going to be savvy enough to ditch a poor paying account, even though it's pretty easy to do.

I just wait till things get converted then move most of if not all money out.

Only exception for me is Saffron, when I close an account or an account is maturing I always tell them to put all funds into my existing easy access account and they do, thus stopping the creation of a poorly paying maturity account.

wiseonesomeofthetime

Coventry BS

Sunny Day Saver opened and funded from my First Home Saver (Issue 1), and regular transfer set up between the two for £150, keeping it simple and administrative-free, and took literally minutes.

ToiletLicker

jameseonline said:

jameseonline said:

Just opened the 6.25% Coventry Sunny Day, really easy to open, funded (probably won't show up for a while but yeah).

Next step for me is closing the 5.75% (or whatever it is now) YBS Loyalty Regular and moving the funds to my 7% Santander Edge Saver.

Closed the YBS one, hopefully getting those funds by end of tomorrow. 😊

Think my minimum rate for regulars is now 6%, highest 10%. 😊

Always fun to initially simplify and get better accounts 🤣

Show off! Gutted I missed the 10%er 😮‍💨

Bridlington1

As pointed out by @SaveTheEuro in the main EA thread Leeds BS have announced interest rate cuts from 27/9/24. Of note are the following:

REGULAR SAVER (ISSUE 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53 & 54) from 5.25% to 5.1% (brings it in line with the currently available issue 55)

Home Deposit Saver- NO CHANGE for balances below £30k (remains at 5.15%)

clowning

I opened and funded my Coventry Sunny day saver in minutes. I am an existing customer but I applied without logging in and it is one of the easiest accounts I have ever opened

jameseonline

ToiletLicker said:

jameseonline said:

jameseonline said:

Just opened the 6.25% Coventry Sunny Day, really easy to open, funded (probably won't show up for a while but yeah).

Next step for me is closing the 5.75% (or whatever it is now) YBS Loyalty Regular and moving the funds to my 7% Santander Edge Saver.

Closed the YBS one, hopefully getting those funds by end of tomorrow. 😊

Think my minimum rate for regulars is now 6%, highest 10%. 😊

Always fun to initially simplify and get better accounts 🤣

Show off! Gutted I missed the 10%er 😮‍💨

Been playing the Regular Savings game a few years now, been using MSE website same time, been on this forum a few months.

I'm in with a lot of banks, building societies etc so it all helps.

It's taken time to build up things, doesn't happen straight away.

allegro120

jameseonline said:

I guess it's because providers aren't really bothered about what makes sense for us but what makes sense for them, so going from a high paying regular then converting it to a low easy access then we move money from that into current (then out) or to other savings account with same provider.

Basically the provider would rather you earn the worst rates possible by leaving it up to us to move money, close account etc.

Not everyone is going to be savvy enough to ditch a poor paying account, even though it's pretty easy to do.

I just wait till things get converted then move most of if not all money out.

Only exception for me is Saffron, when I close an account or an account is maturing I always tell them to put all funds into my existing easy access account and they do, thus stopping the creation of a poorly paying maturity account.

… and not everyone is going to cancel their SO set on ‘until further notice’.  I guess this is a good way for banks to mitigate their losses from regular savers.  High paying regular savers are marketing tools and come at expense.