Regular Savings Accounts: The Best Currently Available List!

Bridlington1

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).

I funded mine from an external account. I was going off the summary box, which states:



Other regular savers that they offer/have offered, such as their Loyalty Regular eSaver do not have these terms.

Then again what the terms of a regular saver state and what their systems end up allowing can be two different things (ask Gatehouse, LBG, Coventry, Principality, HSBC etc) so they may well decide not to enforce the highlighted term in practice.

Personally given that it makes little difference to me whether I fund it from an internal account or an external account I'm inclined to play it safe and fund it from outside of YBS.

allegro120

Bridlington1 said:

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. 

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.

Thank you @Bridlington1 for your tips.  I've changed the closure date to 31st Oct in my diary

Gers

Bridlington1 said:

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.

I'll make a withdrawal in time to get at least some of the funds ready for re-distribution - thanks for the heads up.

Kim_13

Alternatively, some may wish to close on 30/10 in order to receive the funds on 31/10 - depending on the RS allowances you may have remaining for October vs what you’re likely to have available in November.

Bridlington1

Kim_13 said:

Alternatively, some may wish to close on 30/10 in order to receive the funds on 31/10 - depending on the RS allowances you may have remaining for October vs what you’re likely to have available in November.

Alternatively if you've more money in the regular saver than you can pay into those regular savers, use your one withdrawal on 30/10/24 (assuming you've not done so already) to withdraw enough to use up remaining allowances for October and then close it on 31/10/24 to get the extra days interest on the spare funds, which can be used to fund November's regular savers.

There are a fair few variations depending on your individual requirements, personally I'll stick with closing on 31/10/24 as I've got the YBS 2023 Loyalty RS and the Nationwide 8% RS maturing this month, which'll provide more than enough funds to fill October's regular saver deposits for those that're worth funding.

Bridlington1

Bath BS Interest Rate Reductions From 1/10/24:

16-25 Regular Saver from 7.49% to 7.29%
Homestart Regular Saver from 4.89% to 4.74%
The Regular Saver from 4.39% to 4.24%

Kim_13

Melton

I was just wondering what other forumites have received from them, I just received two letters and it feels like there ought to be another somewhere. I have heard nothing else from them since sending off my application 2nd class a week ago.

I have a letter giving me a customer number and on which there is a verification code for my nominated account, and a letter dated a day later with my User ID. I assume I’m ok to proceed with the password reset advised by another poster and could then log in to enter the code, as the letter states it is only valid for 30 days from issue. 

jameseonline

jameseonline said:

Easy Access Saver 2 now showing so set up a payee to myself & requested my YBS money to be sent to my Virgin Money account via the app 

Got my money from YBS, now time to for me to redistribute 😊

PloughmansLunch

Kim_13 said:

Melton

I was just wondering what other forumites have received from them, I just received two letters and it feels like there ought to be another somewhere. I have heard nothing else from them since sending off my application 2nd class a week ago.

I have a letter giving me a customer number and on which there is a verification code for my nominated account, and a letter dated a day later with my User ID. I assume I’m ok to proceed with the password reset advised by another poster and could then log in to enter the code, as the letter states it is only valid for 30 days from issue. 

I had my two letters arrive yesterday, one advising to call and get an initial password but I couldn’t get through after several attempts. A password reset worked and I can now login and see my deposit (although my cheque hasn’t actually been cashed yet!). I called earlier in the week to see if the application was underway and CS told me that a passbook would be sent out, which if so will just get plonked in a drawer somewhere. 

EDIT: just had a bumper pack arrive in the post with passbook and all sorts of paperwork 

premierfella

Kim_13 said:

Melton

I was just wondering what other forumites have received from them, I just received two letters and it feels like there ought to be another somewhere. I have heard nothing else from them since sending off my application 2nd class a week ago.

I have a letter giving me a customer number and on which there is a verification code for my nominated account, and a letter dated a day later with my User ID. I assume I’m ok to proceed with the password reset advised by another poster and could then log in to enter the code, as the letter states it is only valid for 30 days from issue. 

I have had phone contact from them, but otherwise I received the same letters yesterday and have just done the online registration (as you say via password reset). It sets up some other security questions after resetting the password.

My advice is to use a temporary password of your choosing when doing the reset, as annoyingly after setting up the other security questions it then asks you to change the password to another new password!

The online ID letter I got is dated a few days after my nominated account code letter, so I suspect even though you haven't got your account number yet I think you'll find the account number is actually there once you get into online banking