Regular Savings Accounts: The Best Currently Available List!

WillPS

Bigwheels1111 said:

Hattie627 said:

Market Harborough BS

The name of the account is "Fixed Tern Regular Saver (30.11.2025)" (this is what I applied for) but it is showing as One Year Regular Saver on my online list. No reference to the interest rate in the account details either.  Is this okay?

I can't fund until tomorrow as CoP not recognising the details. 

 

It will not show up for CoP as money goes into a Barclay Bank account.

Quite a few of my regular savers have this issue.

Gatehouse bank are the same.

Mansfield BS also use Barclays Bank, they do support CoP correctly though. Chase do a check on sort code/account number only (like normal) but then say they need a reference as well - then it matches. The same thing happens with MHBS but I couldn't get it to match.

I think what might be happening is a Nationwide-like situation where it'll update overnight. (Mansfield BS send stuff out in the post so this won't have been a problem there.)

EDIT -

MHBS definitely support CoP: https://mhbs.co.uk/helping-you-stay-protected/confirmation-of-payee


By the way, The Nottingham have their own sort codes, don't use roll numbers/references and yet still unfortunately don't support CoP (yet!).

dingling68

MHBS:

I have had to send a copy of my nominated bank statement for review before the account is hopefully opened

PowerSavingMode

MHBS 1 Year Regular Saver 

Opened, and received email confirmation, but followed the instructions of how to deposit and my bank is saying that "the payee account is not supported"... Did anyone else get this, and if so, how did you resolve it (if at all)?

mattojgb

WillPS said:

Market Harborough 6% (fixed), with credit to @35har1old above

https://mhbs.co.uk/my-membership/exclusive-products/fixed-term-regular-saver-1yr01/

• Save between £10 – £250 a month
• Annual interest paid on maturity
• You must make regular monthly deposits 
• Even with a penalty early withdrawals are not allowed (closure is not permitted either)
• Initial deposit must be received with 10 days of opening the account

Matures end of November 2025.

You can effectively close the account by missing two months payments, which is equivalent to 60 to 90 days notice (depending when you realize you need access).

Bigwheels1111

DJDools said:

MHBS 1 Year Regular Saver 

Opened, and received email confirmation, but followed the instructions of how to deposit and my bank is saying that "the payee account is not supported"... Did anyone else get this, and if so, how did you resolve it (if at all)?

We all got this, its very common.

I went with

My Name as shown in my account Mr X X XXXXXX

Sort code

Account Number

Ref,  11 digits, not including /1 at the end I think it was.

The money goes to barclays bank first then is put into your account from there.
Even after first payment, the standing order still does not like it.

allegro120

DJDools said:

MHBS 1 Year Regular Saver 

Opened, and received email confirmation, but followed the instructions of how to deposit and my bank is saying that "the payee account is not supported"... Did anyone else get this, and if so, how did you resolve it (if at all)?

Yes, Chase didn't match the account. I've sent £10 anyway, I'm almost certain it will show tomorrow and I will deposit the remaining £240 when I see my tenner arrived.  As people mentioned in posts above, not all accounts get recognised by CoP immediately.

If you are unsure, try again tomorrow.  

PowerSavingMode

Bigwheels1111 said:

DJDools said:

MHBS 1 Year Regular Saver 

Opened, and received email confirmation, but followed the instructions of how to deposit and my bank is saying that "the payee account is not supported"... Did anyone else get this, and if so, how did you resolve it (if at all)?

We all got this, its very common.

I went with

My Name as shown in my account Mr X X XXXXXX

Sort code

Account Number

Ref,  11 digits, not including /1 at the end I think it was.

The money goes to barclays bank first then is put into your account from there.
Even after first payment, the standing order still does not like it.

oh buggah -- Mine is showing as "Account Name: 1 Year Regular Saver - [my name]" -- so that is exactly what I put! I put a test payment of £10 through, and it hasn't arrived yet. I was going to just put my name down, but their email instructions said to put it down exactly as shown, so my brain took that as a literal instruction!

gt94sss2

Bigwheels1111 said:

Hattie627 said:

Market Harborough BS

The name of the account is "Fixed Tern Regular Saver (30.11.2025)" (this is what I applied for) but it is showing as One Year Regular Saver on my online list. No reference to the interest rate in the account details either.  Is this okay?

I can't fund until tomorrow as CoP not recognising the details. 

 

It will not show up for CoP as money goes into a Barclay Bank account.

Quite a few of my regular savers have this issue.

Gatehouse bank are the same.

All banks and building societies have to support confirmation of payee by the end of October 2024 including those who have their own sort code and/or rely on customers quoting their account/roll number in the reference field.

Gatehouse and Market Harborough have both already implemented COP support 

Kim_13

I don’t expect a COP match from MHBS given the instruction to put my name as the payee name - which I will format as they have in their online portal. Where a payment reference is required to identify the account to be credited, surely you would only get a COP match if you stated Market Harborough Building Society and selected business? Where a provider gives you a sort code and an account number unique to you, that’s different.

WillPS

Kim_13 said:

I don’t expect a COP match from MHBS given the instruction to put my name as the payee name - which I will format as they have in their online portal. Where a payment reference is required to identify the account to be credited, surely you would only get a COP match if you stated Market Harborough Building Society and selected business? Where a provider gives you a sort code and an account number unique to you, that’s different.

No, it'll match using your reference. Selecting business and typing Market Harborough Building Society will not match. It just takes an overnight batch process to run.

This is all detailed on the email they send following successful application:

Name: Enter the name as it appears on your new account

...

Are you part of the Confirmation of Payee (CoP) scheme?
Yes we are, if your bank also uses Confirmation of Payee you will receive a message confirming whether you have entered your new account details correctly.

It may take up to one working day for the scheme to register your details. Please ensure you receive a positive result before sending any money.