Regular Savings Accounts: The Best Currently Available List!

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

janusdesign

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.

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.

janusdesign

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.