Regular Savings Accounts: The Best Currently Available List!

Wheres_My_Cashback

The COV FHS2 maybe called an RS, though it's effectively a Notice account and there are always better 30/60 day notice accounts available at equal/better rates.

wiseonesomeofthetime

Bridlington1 said:

wiseonesomeofthetime said:

dealyboy said:

Coventry BS First Home Saver (FHS) v2

3 year regular saver - up to £1,000 per month - interest 4.8% variable

... definitely worth considering https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/first-home-saver-2.html

Is this not the one that has been around for months and has a 60-day penalty on withdrawals?

It has been around for nearly 2 years IIRC. FHS Issue 1 went NLA in December 2022 and was soon followed by issue 2 at the lower rate.

Exactly what I thought!

I am one of the fortunate ones with FHS 1, with no restrictions. Must have got in just in time as mine matures 16 December 2025.

Bridlington1

wiseonesomeofthetime said:

Bridlington1 said:

wiseonesomeofthetime said:

dealyboy said:

Coventry BS First Home Saver (FHS) v2

3 year regular saver - up to £1,000 per month - interest 4.8% variable

... definitely worth considering https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/first-home-saver-2.html

Is this not the one that has been around for months and has a 60-day penalty on withdrawals?

It has been around for nearly 2 years IIRC. FHS Issue 1 went NLA in December 2022 and was soon followed by issue 2 at the lower rate.

Exactly what I thought!

I am one of the fortunate ones with FHS 1, with no restrictions. Must have got in just in time as mine matures 16 December 2025.

Account went NLA on 19/12/22 so you're right, you got in there just in time.

Wheres_My_Cashback said:

The COV FHS2 maybe called an RS, though it's effectively a Notice account and there are always better 30/60 day notice accounts available at equal/better rates.

Though we don't know for for sure what Coventry will do with the interest rate on the account over the next 3 years. It is below the top 30/60 day notice accounts today but only by about 0.25%. It's also only 0.45% behind the top notice account that is currently available. In 2-3 years this may well not be the case. Personally I wouldn't wish to rule out the Coventry FHS Issue 2 becoming competitive at some point during the next 3 years. 

It only requires £1 to open so I'd be inclined to speculatively open it with £1 if I didn't already have issue 1 alive and well.

charlie12525

where_are_we said:

Nationwide Flex Regular Saver 3 @6.5% - Opened a new one, but COP for opening deposit from my external current account was not recognised and there was no way of overriding it. So had to do a FP to my NW current account and then do a transfer. But no way of setting up 12 SO`s as yet. Have I been too quick and will COP work eg tomorrow?

Yes.       

trickydicky14

wiseonesomeofthetime said:

Bridlington1 said:

wiseonesomeofthetime said:

dealyboy said:

Coventry BS First Home Saver (FHS) v2

3 year regular saver - up to £1,000 per month - interest 4.8% variable

... definitely worth considering https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/first-home-saver-2.html

Is this not the one that has been around for months and has a 60-day penalty on withdrawals?

It has been around for nearly 2 years IIRC. FHS Issue 1 went NLA in December 2022 and was soon followed by issue 2 at the lower rate.

Exactly what I thought!

I am one of the fortunate ones with FHS 1, with no restrictions. Must have got in just in time as mine matures 16 December 2025.

Me too, my account matures on the 18th Dec 2025.

Frogletina

Frogletina said:

Frogletina said:

jameseonline said:

Got my money out of Nationwide and into Santander but can't seem to move it internally into the savings account I want it in, meh.

Also it seems I'm too early to apply for the Nationwide Flex Issue 3.

I've closed the regular saver but the money has not yet arrived into my Santander account. I'm hoping it will be there in the morning

Money was not in my Santander account this morning. I sent it via my nominated account - I wish I had sent a test payment first. Apparently, according to Nationwide, Santander have rejected it due to a mismatch in the name, although Santander cannot find the rejected payment. It left Nationwide with my first and second name but Nationwide can see the rejection as only showing my surname! Santander asked me to get the faster payment reference, but when I did and rang them back, they said it was too early to see it on their systems. 

Nationwide cannot do a recall until Monday. I have used the same nominated account before. I've just now amended it to show my full name including middle name, and sent a £1 from Santander to my flex account and returned it via my nominated account without a problem. 

I've now raised a complaint regarding this missing payment from Nationwide..

Checking today I've found another missing payment to Santander, this time from Beehive which I will raise in the morning. When my Beehive regular saver matured in August, the balance was transferred to an online saver account and from there I transferred most of the balance to Santander via my nominated account, leaving £10 now in the online savings account. However, there has since been an interest payment which I transferred to Santander, using the same nominated account on 20 September but that payment has not arrived. I will raise this tomorrow as a missing payment with Beehive. 

I've another Beehive account maturing soon, so I'm worried about that going missing too.

I use Santander as my hub for all of my regular savers, and have done for several years. I've never had a problem like this before. This month I've had the two Monmouthshire regular savers and the YBS regular saver mature with no problems at all.

Kim_13

Melton passbook just arrived, complete with an elusive prepaid envelope. They sent it with a survey so I will fill out the survey online and retain the envelope for future use.

friolento

Frogletina said:

Frogletina said:

Frogletina said:

jameseonline said:

Got my money out of Nationwide and into Santander but can't seem to move it internally into the savings account I want it in, meh.

Also it seems I'm too early to apply for the Nationwide Flex Issue 3.

I've closed the regular saver but the money has not yet arrived into my Santander account. I'm hoping it will be there in the morning

Money was not in my Santander account this morning. I sent it via my nominated account - I wish I had sent a test payment first. Apparently, according to Nationwide, Santander have rejected it due to a mismatch in the name, although Santander cannot find the rejected payment. It left Nationwide with my first and second name but Nationwide can see the rejection as only showing my surname! Santander asked me to get the faster payment reference, but when I did and rang them back, they said it was too early to see it on their systems. 

Nationwide cannot do a recall until Monday. I have used the same nominated account before. I've just now amended it to show my full name including middle name, and sent a £1 from Santander to my flex account and returned it via my nominated account without a problem. 

I've now raised a complaint regarding this missing payment from Nationwide..

Checking today I've found another missing payment to Santander, this time from Beehive which I will raise in the morning. When my Beehive regular saver matured in August, the balance was transferred to an online saver account and from there I transferred most of the balance to Santander via my nominated account, leaving £10 now in the online savings account. However, there has since been an interest payment which I transferred to Santander, using the same nominated account on 20 September but that payment has not arrived. I will raise this tomorrow as a missing payment with Beehive. 

I've another Beehive account maturing soon, so I'm worried about that going missing too.

I use Santander as my hub for all of my regular savers, and have done for several years. I've never had a problem like this before. This month I've had the two Monmouthshire regular savers and the YBS regular saver mature with no problems at all.

I suspect your money has automatically been placed by a fraud algorithm into some Santander suspense account from where it will be released as and when a human (?) has verified that its not a fraudulent transaction. 

With the new APP scam reimbursement rules, the sending and receiving bank now need to share the reimbursement amount. Unsurprisingly, banks will try to reduce their liability, so are now also checking / blocking incoming payments. In the case of Santander, we can but hope that their incoming payments fraud algorithm hasn’t been coded by the same people as their outgoing payments one 🤞

How this all sits with “by the end of the next business day” rule for faster payments, I don’t know but I am sure we will find out over time 

Good luck with getting some sense out of Santander, and your money into your account 

jameseonline

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

Now has info showing how much you'll earn on regular savers 

WillPS

jameseonline said:

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

Now has info showing how much you'll earn on regular savers 

The Natwest/RBS number is wrong, it states £59.93/year when 'maxed out'. That's the figure you'll get saving the just the deposit limit for 1 year, the 'maxed out' amount is 6.17% on £5k (~£308).