Regular Savings Accounts: The Best Currently Available List!

poolboy

Thanks for HSBC tip, I m applying now, much appreciated.

The yorkshire building society 50 gbp 8% application is open wednesday, I couldn't see it online so popped into their branch.  Technical difficulties apparently

jameseonline

poolboy said:

Thanks for HSBC tip, I m applying now, much appreciated.

The yorkshire building society 50 gbp 8% application is open wednesday, I couldn't see it online so popped into their branch.  Technical difficulties apparently

Yeah tech difficulties, Bridlington rang them earlier, I asked on their webchat earlier they didn't know when it would be, will try on Wednesday then, thanks

Edit: Bridlington got told tomorrow (Tues), I'll try tomorrow then Wednesday 🤣

Digital_Payback

Digital_Payback said:

Angelica123 said:

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. 

Surely it has to be they either allow an additional transfer from the linked HSBC Current Acc OR they permit you to alter the Standing Order each month. 

Just opened the HSBC Reg. Saver. 

Final screen says: 

‘If you wish to amend the standing order amount, you can do this using online banking as long as the new amount is within the terms of the account.’

So the Standing Order can be amended each month. 

Clear, at last!!

dingling68

HSBC Regular Saver

Have been on customer service chat to be told that they won't increase the rate on my existing account (I think it was First Direct that did that back in December 2022) and that if I close my existing account early it only attracts the Flexible Saver Rater to closure. 

PloughmansLunch

Digital_Payback said:

Digital_Payback said:

Angelica123 said:

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. 

Surely it has to be they either allow an additional transfer from the linked HSBC Current Acc OR they permit you to alter the Standing Order each month. 

Just opened the HSBC Reg. Saver. 

Final screen says: 

‘If you wish to amend the standing order amount, you can do this using online banking as long as the new amount is within the terms of the account.’

So the Standing Order can be amended each month. 

Clear, at last!!

I can muddy that clarity a bit for you - I've always cancelled my HSBC RS S.O. and paid manually on the 1st. It seems to me that the T&Cs aren't particularly enforced as I have not had any issues whatsoever.

BestSeagull

Digital_Payback said:

Angelica123 said:

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. 

Surely it has to be they either allow an additional transfer from the linked HSBC Current Acc OR they permit you to alter the Standing Order each month. 

HSBC. I was hoping that it might allow a £25 standing order then I could transfer in the rest manually but it says only one deposit per month is allowed. Yes, they do allow the amount of the SO to be adjusted, just not the date.

jameseonline

Just thinking it will be nice to see HSBC enter the 7% zone next to First Direct, CO OP & Skipton on Regular Savings page (1 less 5% account to have listed & maybe puts a bit of pressure on others to up their game), same as YBS next to Principality under the open to all section.

https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/

(It was only updated the other day, guess someone will have to update it again soon😁)

dingling68

ForumUser7 said:

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

Would appear they are sticking to the terms and conditions and the answer is no 

BestSeagull

Stargunner said:

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

Yes. I don't mind that at all. It's really efficient, just hadn't seen it before that I remember.

gt94sss2

Has anyone has done the maths regarding at what point/months in existing HSBC regular saver customers would be better/worse off closing their existing accounts and opening a new one..?