Regular Savings Accounts: The Best Currently Available List!

[Deleted User]

Thankyou for this information, I have opened account and put the first £50 in.

friolento

OneUser1 said:

The 8% Yorkshire opened and funded but the £50 not showing yet - only been a minute. However you have to open the on-line version via the website right now (7:51AM) since it’s not an option in the App yet.

Edited to add funds now showing. Opened in a couple of minutes and no issues. 

I opened it through the app

BestSeagull

Bridlington1 said:

BestSeagull said:

I'm going to apply for the Melton account. In the past with postal applications, I've not sent a cheque and have just done a manual transfer in once I have the account details. Is this the most efficient way to do it generally or does sending a cheque for the first payment make more sense?

For postal applications, including Melton, I've typically just sent a cheque to open the account, especially when opening accounts near the end of the month.

Having said that I've still got a £2.5k arranged OD facility on my Nationwide account (legacy of stoozing) so I don't have to keep money sat in a current account at a low/poor rate whilst I wait for the cheque to be taken.

It's worth noting as an aside that Melton BS will send out application packs in the post with prepaid envelope if requested, so there's no need to pay for a stamp.

Thanks to your comment yesterday, the application pack is on the way.
Thank you!

s71hj

Rich1976 said:

tg99 said:

Can someone remind me how it works if set the date of £250 standing order from a Santander current account to HSBC current account as the same day the £250 standing order goes into the HSBC regular saver? If Santander process their standing orders after HSBC and thus funds not there when HSBC try and take then do HSBC automatically try again later in day a bit like banks do with direct debits? Thks 

No, with standing orders I believe that if the money isn’t there in the account , unless you have an overdraft then the standing order isn’t paid.
so you would need to make sure the money is there the day before I think.
it is the customer who controls standing orders not the recipient of them like direct debits.

Rich1976 said:

tg99 said:

Can someone remind me how it works if set the date of £250 standing order from a Santander current account to HSBC current account as the same day the £250 standing order goes into the HSBC regular saver? If Santander process their standing orders after HSBC and thus funds not there when HSBC try and take then do HSBC automatically try again later in day a bit like banks do with direct debits? Thks 

No, with standing orders I believe that if the money isn’t there in the account , unless you have an overdraft then the standing order isn’t paid.
so you would need to make sure the money is there the day before I think.
it is the customer who controls standing orders not the recipient of them like direct debits.

Do standing orders go in the same day they go out then? I set them up from my main bank account allowing 8 days to allow for delays, weekends, bank holidays for the money to go in to eg hsbc, coop for the standing order to then go from that bank account to their regular saver. Am I being excessively cautious?!

jaypers

Bit confused about the YBS RS account, as I successsfully applied for a joint account. Just seen this on their site.......

Can it be a joint account?

No.

???

RosieRooBear

jaypers said:

Bit confused about the YBS RS account, as I successsfully applied for a joint account. Just seen this on their site.......

Can it be a joint account?

No.

???

I opened a joint account a couple of weeks ago and today both my husband and I each opened the YBS £50 ESaver. It’s better to have an account each rather then one joint anyway as double the amount at 8% you can save.

flaneurs_lobster

jaypers said:

Bit confused about the YBS RS account, as I successsfully applied for a joint account. Just seen this on their site.......

Can it be a joint account?

No.

???

??? indeed. OTOH it's only £50/month, why would you not get one each?

gt94sss2

tg99 said:

Can someone remind me how it works if set the date of £250 standing order from a Santander current account to HSBC current account as the same day the £250 standing order goes into the HSBC regular saver? If Santander process their standing orders after HSBC and thus funds not there when HSBC try and take then do HSBC automatically try again later in day a bit like banks do with direct debits? Thks 

Yes, HSBC would try the standing order again later in the day

Having said that Santander send their standing orders before HSBC do 

gt94sss2

s71hj said:

Rich1976 said:

tg99 said:

Can someone remind me how it works if set the date of £250 standing order from a Santander current account to HSBC current account as the same day the £250 standing order goes into the HSBC regular saver? If Santander process their standing orders after HSBC and thus funds not there when HSBC try and take then do HSBC automatically try again later in day a bit like banks do with direct debits? Thks 

No, with standing orders I believe that if the money isn’t there in the account , unless you have an overdraft then the standing order isn’t paid.
so you would need to make sure the money is there the day before I think.
it is the customer who controls standing orders not the recipient of them like direct debits.

Rich1976 said:

tg99 said:

Can someone remind me how it works if set the date of £250 standing order from a Santander current account to HSBC current account as the same day the £250 standing order goes into the HSBC regular saver? If Santander process their standing orders after HSBC and thus funds not there when HSBC try and take then do HSBC automatically try again later in day a bit like banks do with direct debits? Thks 

No, with standing orders I believe that if the money isn’t there in the account , unless you have an overdraft then the standing order isn’t paid.
so you would need to make sure the money is there the day before I think.
it is the customer who controls standing orders not the recipient of them like direct debits.

Do standing orders go in the same day they go out then? I set them up from my main bank account allowing 8 days to allow for delays, weekends, bank holidays for the money to go in to eg hsbc, coop for the standing order to then go from that bank account to their regular saver. Am I being excessively cautious?!

They do and you are being excessively cautious unless you are using someone like Chase who ignore industry rules and send payments on non working days

s71hj

gt94sss2 said:

s71hj said:

Rich1976 said:

tg99 said:

Can someone remind me how it works if set the date of £250 standing order from a Santander current account to HSBC current account as the same day the £250 standing order goes into the HSBC regular saver? If Santander process their standing orders after HSBC and thus funds not there when HSBC try and take then do HSBC automatically try again later in day a bit like banks do with direct debits? Thks 

No, with standing orders I believe that if the money isn’t there in the account , unless you have an overdraft then the standing order isn’t paid.
so you would need to make sure the money is there the day before I think.
it is the customer who controls standing orders not the recipient of them like direct debits.

Rich1976 said:

tg99 said:

Can someone remind me how it works if set the date of £250 standing order from a Santander current account to HSBC current account as the same day the £250 standing order goes into the HSBC regular saver? If Santander process their standing orders after HSBC and thus funds not there when HSBC try and take then do HSBC automatically try again later in day a bit like banks do with direct debits? Thks 

No, with standing orders I believe that if the money isn’t there in the account , unless you have an overdraft then the standing order isn’t paid.
so you would need to make sure the money is there the day before I think.
it is the customer who controls standing orders not the recipient of them like direct debits.

Do standing orders go in the same day they go out then? I set them up from my main bank account allowing 8 days to allow for delays, weekends, bank holidays for the money to go in to eg hsbc, coop for the standing order to then go from that bank account to their regular saver. Am I being excessively cautious?!

They do and you are being excessively cautious unless you are using someone like Chase who ignore industry rules and send payments on non working days

So standing order from my Santander bank account will land in my hsbc or first direct bank account same day even if a weekend day then?