Regular Savings Accounts: The Best Currently Available List!

s71hj

Have applied for HSBC standard current account but can't see a way to open regular saver until current account application is confirmed as successful.

s71hj

Have applied for HSBC standard current account but can't see a way to open regular saver until current account application is confirmed as successful.

ChewyyBacca

BestSeagull 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.

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

Tried opening HSBC reg saver, it displayed a screen ''Cannot open regular saver at the moment'
Shocked, but I havent used my HSBC account in over 2.5 years, and hardly any transactions there, so I thought they downgraded my advance account. Also balance in current account has been 0 for a long time.
Nope that wasnt it, they needed me to fund the account to atleast £25, to take first payment with the reg saver opening application. So funded the account with £250.
Setting up Standing order is part of the application.

As I understand from T&Cs ''You must make 11 more payments on the same date each month by SO from a qualifying current account''
So amount can be changed, SO date cannot be! Wish I could have SO on 1st of the month!

Well its 7% and £250 so its worth the inconvenience. 
Also 2 of my Reg savers maturing next month, the proceeds need a home.

janusd

BestSeagull 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.

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

many thanks for the link.

I was just curious if they behaved like TSB (?) where they don't necessarily enforce the SO requirement. Reading the above, the 11 SO payments are taken on the same day of the month as the initial deposit. I'll open it tomorrow.

CricketLady

Just took me a few seconds to open my HSBC regular saver for 7%, I made sure to fund it with £250 before starting the application and in answer to the previous question regarding the standing order, it told me that it would take my monthly payment one month from the account being open.  As it opened immediately I then went to "future payments" and my next standing order date is set to go on the 9th October.  The only thing I could control was that it asked me for the amount of my future payments, you could set it to £25 (but I set mine to £250.)

I don't think you'd be able to changet that standing order date, I know you can't with First Direct (or you couldn't last November, correct me if this has changed.)

Hope this helps!

Stargunner

Section62 said:

Stargunner said:

friolento said:

Bridlington1 said:

WillPS said:

Melton BS

Now listed online: https://www.themelton.co.uk/regular_savings/regular-saver-6/

There is a postal method for applying.

Apologies for the misinformation in my earlier post then.

In my defence moneyfacts was explicitly showing the account to be branch only opening so the info I had at the time was incorrect.

I was about to print off an application form, then saw there's no online or app management, which puts me right off.

To make a withdrawal you have to post them the passbook with your instructions, so I will be giving this one a miss.

By 30 September 2026 they may have added the account to their online portal and sorted out online withdrawals.  Unless you expect to need to make a withdrawal in the short term this restriction seems Ok for an account you'd expect to be filling up rather than withdrawing from over a two-year period.

I have opted for the new HSBC 7% RS instead. Opened and funded within 5 mins. So much easier than faffing around and relying on the post.

BestSeagull

janusdesign said:

BestSeagull 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.

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

many thanks for the link.

I was just curious if they behaved like TSB (?) where they don't necessarily enforce the SO requirement. Reading the above, the 11 SO payments are taken on the same day of the month as the initial deposit. I'll open it tomorrow.

Yes, the TSB work around is a good one (adding the RS as an external recipient and doing a manual transfer that way). But for HSBC I'm pretty sure the system won't let manual transfers happen. They seem to have thought of everything. Having to fund the current account before even being able to apply is a new one on me!

Angelica123

BestSeagull said:

janusdesign said:

BestSeagull 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.

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

many thanks for the link.

I was just curious if they behaved like TSB (?) where they don't necessarily enforce the SO requirement. Reading the above, the 11 SO payments are taken on the same day of the month as the initial deposit. I'll open it tomorrow.

Yes, the TSB work around is a good one (adding the RS as an external recipient and doing a manual transfer that way). But for HSBC I'm pretty sure the system won't let manual transfers happen. They seem to have thought of everything. Having to fund the current account before even being able to apply is a new one on me!

BestSeagull said:

janusdesign said:

BestSeagull 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.

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

many thanks for the link.

I was just curious if they behaved like TSB (?) where they don't necessarily enforce the SO requirement. Reading the above, the 11 SO payments are taken on the same day of the month as the initial deposit. I'll open it tomorrow.

Yes, the TSB work around is a good one (adding the RS as an external recipient and doing a manual transfer that way). But for HSBC I'm pretty sure the system won't let manual transfers happen. They seem to have thought of everything. Having to fund the current account before even being able to apply is a new one on me!

I wonder about manual transfers as you are allowed to carry over deposit balance IE if you only paid £25 one month you could add the £225 in subsequent months. To do so must mean that they allow manual transfers. 

Stargunner

BestSeagull said:

janusdesign said:

BestSeagull 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.

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

many thanks for the link.

I was just curious if they behaved like TSB (?) where they don't necessarily enforce the SO requirement. Reading the above, the 11 SO payments are taken on the same day of the month as the initial deposit. I'll open it tomorrow.

Yes, the TSB work around is a good one (adding the RS as an external recipient and doing a manual transfer that way). But for HSBC I'm pretty sure the system won't let manual transfers happen. They seem to have thought of everything. Having to fund the current account before even being able to apply is a new one on me!

The reason for that is that they take your first payment from the current acc as soon as your RS is opened

friolento

ChewyyBacca said:

BestSeagull 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.

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

Tried opening HSBC reg saver, it displayed a screen ''Cannot open regular saver at the moment'
Shocked, but I havent used my HSBC account in over 2.5 years, and hardly any transactions there, so I thought they downgraded my advance account. Also balance in current account has been 0 for a long time.
Nope that wasnt it, they needed me to fund the account to atleast £25, to take first payment with the reg saver opening application. So funded the account with £250.
Setting up Standing order is part of the application.

As I understand from T&Cs ''You must make 11 more payments on the same date each month by SO from a qualifying current account''
So amount can be changed, SO date cannot be! Wish I could have SO on 1st of the month!

Well its 7% and £250 so its worth the inconvenience. 
Also 2 of my Reg savers maturing next month, the proceeds need a home.

I was able to make the opening deposit from a long unused Advance acct with a £0 balance. Mind you, I have a £250 overdraft arrangement, which I could use w/o interrupting the application process.

I am now struggling with setting up an SO from my 123 Lite to my HSBC Advance because the Santander app insists that the SO start date is today, despite me telling it a different date. Tried it three times, shut down and restarted app in between tries 🤬. Will have to use online banking to set up the SO.