Regular Savings Accounts: The Best Currently Available List!

csw5780

Should this be retitled the BS (you decide) FP thread? (No disrespect to the excellent listings at the top.)

Bridlington1

csw5780 said:

Should this be retitled the BS (you decide) FP thread?

Personally I wouldn't bother. Whilst the current conversation isn't to everyone's tastes, they are talking about the maturity process and withdrawals from a regular saver.

Though continuing with the conversation about maturing YBS regular savers. It may be worth noting that the YBS Christmas 2024 regular saver matures next month on 31/10/24.

If you wait for this account to mature and then make a withdrawal/closure from it the funds won't arrive in your nominated account until Sat 2/11/24, thus if you are wanting to use the funds to feed other regular savers I'd advise closing it early at some point on 31/10/24 to ensure your funds arrive on time for the regular savers.

Gers

Bridlington1 said:

Though continuing with the conversation about maturing YBS regular savers. It may be worth noting that the YBS Christmas 2024 regular saver matures next month on 31/10/24.

If you wait for this account to mature and then make a withdrawal/closure from it the funds won't arrive in your nominated account until Sat 2/11/24, thus if you are wanting to use the funds to feed other regular savers I'd advise closing it early at some point on 31/10/24 to ensure your funds arrive on time for the regular savers.

My account says it matures on 01/11/24 but I'll take your tip anyway. 

PRAISETHESUN

simonsmithsays said:

guli said:

wiseonesomeofthetime said:

Speculator said:

YBS Loyalty Regular eSaver matures in 1 day and interest (£246.45) just added today.

Cheers for that. Just checked mine. 8p more than you 🥳

And I’m 1p more than you lol

£248.08 here - I managed the extra £500 though

I haven't held a YBS RS for a while but the last time I did I accidently made an extra payment about 3 weeks before maturity. It wasn't returned and I'm fairly sure I was also paid the appropriate amount of interest on the extra balance.

Kim_13

I opted for closure of the YBS account which has added another 7p interest, presumably as they still aren’t sending the balance until tomorrow.

Does anyone know if Tipton and Coseley are any more efficient when it comes to getting the proceeds back? Like another poster I have this account and wouldn’t expect anything from them for about another month. I was wondering if they’d pay out on 31.10 or are they like YBS and it will be 1.11? I don’t think they allow early closure so whatever will be will be, I’m just trying to plan meeting minimum pay ins.

PloughmansLunch

Kim_13 said:

I opted for closure of the YBS account which has added another 7p interest, presumably as they still aren’t sending the balance until tomorrow.

Does anyone know if Tipton and Coseley are any more efficient when it comes to getting the proceeds back? Like another poster I have this account and wouldn’t expect anything from them for about another month. I was wondering if they’d pay out on 31.10 or are they like YBS and it will be 1.11? I don’t think they allow early closure so whatever will be will be, I’m just trying to plan meeting minimum pay ins.

I've just checked and my nominated account had the full balance from Tipton RS1 deposited 3am 1st August, the day after maturity. I chose this option in advance via an app notification (I think), and it was super-clear and quick to set up.

sta0612

Another quirk of the YBS withdrawal system is that the transaction details for my withdrawal show the correct sort code for the account I withdrew to, but under ‘Account Number’ show the 10 digit YBS account number that I transferred from.

I called YBS and they confirmed that the transfer has been processed correctly and that I should receive the funds by 5pm tomorrow (as others have stated above).

Posting in case anyone else was concerned about the same thing to perhaps save you a phone call.

Bridlington1

Gers said:

Bridlington1 said:

Though continuing with the conversation about maturing YBS regular savers. It may be worth noting that the YBS Christmas 2024 regular saver matures next month on 31/10/24.

If you wait for this account to mature and then make a withdrawal/closure from it the funds won't arrive in your nominated account until Sat 2/11/24, thus if you are wanting to use the funds to feed other regular savers I'd advise closing it early at some point on 31/10/24 to ensure your funds arrive on time for the regular savers.

My account says it matures on 01/11/24 but I'll take your tip anyway. 

The Christmas 2024 RS has matures exactly a year after the 2023 one did. The 2023 Christmas RS converted into its maturity account overnight on the night of 31/10/23 to 1/11/23. Consequently those who waited till it had matured before making withdrawals/closure did so on 1/11 with funds arriving on 2/11.

It's probably a more important point this year given that 1/11/24 is a Friday and many regular savers class deposits received on non-working days as having been received the next working day for interest purposes so if (like myself) you are relying on funds from the maturing regular saver to fund November's regular savers, letting the account mature and receiving the funds on Sat 2/11/24 would effectively force you to delay a load of your deposits till Mon 4/11/24 (unless you want funds sat earning no interest for a couple of days, which I certainly don't). By closing on 31/10/24 you ensure you'll receive the funds on a Friday.

Additionally a point that may have been lost in discussion (I believe it was briefly mentioned though) is that the YBS 8% RS, unlike many of their previous regular savers, doesn't allow deposits by internal transfer from another YBS account- funds must come from an external account, consequently you couldn't make a deposit into it directly from the maturity account.

AmityNeon

Bridlington1 said:

Additionally a point that may have been lost in discussion (I believe it was briefly mentioned though) is that the YBS 8% RS, unlike many of their previous regular savers, doesn't allow deposits by internal transfer from another YBS account- funds must come from an external account, consequently you couldn't make a deposit into it directly from the maturity account.

Did you attempt an internal transfer and it failed? I had no issues funding mine with an internal transfer (two of them in fact from different accounts, totalling the £50).

allegro120

AmityNeon said:

Bridlington1 said:

Additionally a point that may have been lost in discussion (I believe it was briefly mentioned though) is that the YBS 8% RS, unlike many of their previous regular savers, doesn't allow deposits by internal transfer from another YBS account- funds must come from an external account, consequently you couldn't make a deposit into it directly from the maturity account.

Did you attempt an internal transfer and it failed? I had no issues funding mine with an internal transfer (two of them in fact from different accounts, totalling the £50).

IIRC this was the case with Gatehouse.  Can't fund from internal account, but I did it without any repercussions.