Regular Savings Accounts: The Best Currently Available List!

PloughmansLunch

t1redmonkey said:

HSBC appear to have just stealthily increased their Regular Saver to 7%! https://www.hsbc.co.uk/savings/products/regular-saver/

What a nice surprise, thanks - opened and funded before the kettle had even finished boiling

Kim_13

Parent has the bog standard HSBC bank account (not basic,) but the terms mention pay monthly, which makes me think their account is a no. They don’t pay a monthly fee.

Anyone without the Advance successfully opened? No online and nor do they want it, so it would have to be a branch application.

Edit: Just read again and saw that they do list Bank Account and Bank Account Pay Monthly, so presumably anything but a basic will do.

ForumUser7

HSBC - Anyone know if they are going to upgrade existing RS customers to the new rate like they did last time?

flaneurs_lobster

Kim_13 said:

Parent has the bog standard HSBC bank account (not basic,) but the terms mention pay monthly, which makes me think their account is a no. They don’t pay a monthly fee.

Anyone without the Advance successfully opened? No online and nor do they want it, so it would have to be a branch application.

Here's the list of eligible bank accounts

• You must have one of the following HSBC current accounts: HSBC Premier, HSBC Advance, Bank Account, Bank Account Pay Monthly, HSBC Student Bank Account or Graduate Bank Account which you must maintain for the 12 month duration

If your parent has one of those then they can apply.

jameseonline

Kim_13 said:

Parent has the bog standard HSBC bank account (not basic,) but the terms mention pay monthly, which makes me think their account is a no. They don’t pay a monthly fee.

Anyone without the Advance successfully opened? No online and nor do they want it, so it would have to be a branch application.

Edit: Just read again and saw that they do list Bank Account and Bank Account Pay Monthly, so presumably anything but a basic will do.

I have their standard "bank account", I've had their regular saver before when it was at 5%, shouldn't be an issue for me to open.

My only issue would be staying committed to funding it and not closing it early, same with the 1st Direct regular, hense why I don't have that either at the mo

janusd

t1redmonkey said:

HSBC appear to have just stealthily increased their Regular Saver to 7%! https://www.hsbc.co.uk/savings/products/regular-saver/

nice spot! 

I assume HSBC are one of those that insist the regular payment is via standard order from a HSBC current account ? anyone know if you can select the SO date when opening the account or is it setup by HSBC (as per First Direct) ?

worth noting that you need £25 in your current account balance before you can even apply - I don't have that currently, hence the above question about the standing order.

castle96

HSBC. My current a/c was marked as dormant. 5 mins to  get it up and runnung again by phone. It has £1 in it. Has to have min of £25 or whatever your first payment is too be (transferred from current to RS a/c)

WillPS

janusdesign said:

t1redmonkey said:

HSBC appear to have just stealthily increased their Regular Saver to 7%! https://www.hsbc.co.uk/savings/products/regular-saver/

nice spot! 

I assume HSBC are one of those that insist the regular payment is via standard order from a HSBC current account ? anyone know if you can select the SO date when opening the account or is it setup by HSBC (as per First Direct) ?

worth noting that you need £25 in your current account balance before you can even apply - I don't have that currently, hence the above question about the standing order.

I seem to remember doing it all manually last time I did an HSBC one (5ish years ago), but I might be mistaken and/or things might have changed.

BestSeagull

janusdesign said:

t1redmonkey said:

HSBC appear to have just stealthily increased their Regular Saver to 7%! https://www.hsbc.co.uk/savings/products/regular-saver/

nice spot! 

I assume HSBC are one of those that insist the regular payment is via standard order from a HSBC current account ? anyone know if you can select the SO date when opening the account or is it setup by HSBC (as per First Direct) ?

worth noting that you need £25 in your current account balance before you can even apply - I don't have that currently, hence the above question about the standing order.

HSBC. It is all standing order from a qualifying current account. I tried to copy and paste from the t&c but my computer wouldn't let me.  If you download the general T&C from the regular saver account page, and go to page 45 you'll see the limitations imposed.

I hate standing orders so didn't bother for the lesser rate but for 7%, I'm sucking it up!

eta link to t&c https://www.hsbc.co.uk/content/dam/hsbc/gb/pdf/personal-banking-terms-conditions.pdf

Bridlington1

WillPS said:

janusdesign said:

t1redmonkey said:

HSBC appear to have just stealthily increased their Regular Saver to 7%! https://www.hsbc.co.uk/savings/products/regular-saver/

nice spot! 

I assume HSBC are one of those that insist the regular payment is via standard order from a HSBC current account ? anyone know if you can select the SO date when opening the account or is it setup by HSBC (as per First Direct) ?

worth noting that you need £25 in your current account balance before you can even apply - I don't have that currently, hence the above question about the standing order.

I seem to remember doing it all manually last time I did an HSBC one (5ish years ago), but I might be mistaken and/or things might have changed.

The terms do state that you must make deposits by SO but their systems do not seem to enforce this (or at least they didn't when their 5% offering was competitive).

Personally I'll stick to the SO to be on the safe side on the grounds that I've already notched up 3 lifetime bans with the big banks so don't want to annoy the HSBC group as well.

It's worth noting though that HSBC are one of those who allow you to catch up on unused subscriptions in future months, which could be useful for some.