Regular Savings Accounts: The Best Currently Available List!

PloughmansLunch

s71hj said:

HHUK said:

BonettiRules said:

Again as per the email you need to put your own name in 

I selected Business Account, entered MHBS 1 Yr Reg Saver as the description together with sort code, account and reference numbers. COP wasn't verified but I continued anyway, and the £10 test payment I made after close of business yesterday is showing in my account online as having been received yesterday.

Songs it definitely a case of selecting "Business account" ? I've had different experiences and indeed advice on this from different institutions 

I sent a payment 5mins after opening yesterday evening (didn't see the wait until COP works message - oops), and it was already credited when I checked this morning. I used:

My name as it appears in the account (e.g. J Smith)
MHBS Sort Code
MHBS Account number (Barclays)
Ticked 'Business account'
Added account number as a reference, leaving off the /1 (e.g. 12345678910)

HHUK

BonettiRules said:

you were lucky as usually they don;t do this for audit reasons

Market Harborough Fixed Term Regular Saver

In my experience there has never been an issue provided the sort code, account and reference numbers are entered correctly. The email says

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

It doesn't say 'your name' so I wasn't 100% certain whether they wanted my name, the society's name or the name of the account. Someone suggested above that what is entered in the 'name' field is completely irrelevant. I chose the Business Account and Business Name options.

BonettiRules

PloughmansLunch said:

s71hj said:

HHUK said:

BonettiRules said:

Again as per the email you need to put your own name in 

I selected Business Account, entered MHBS 1 Yr Reg Saver as the description together with sort code, account and reference numbers. COP wasn't verified but I continued anyway, and the £10 test payment I made after close of business yesterday is showing in my account online as having been received yesterday.

Songs it definitely a case of selecting "Business account" ? I've had different experiences and indeed advice on this from different institutions 

I sent a payment 5mins after opening yesterday evening (didn't see the wait until COP works message - oops), and it was already credited when I checked this morning. I used:

My name as it appears in the account (e.g. J Smith)
MHBS Sort Code
MHBS Account number (Barclays)
Ticked 'Business account'
Added account number as a reference, leaving off the /1 (e.g. 12345678910)

I can only reiterate what I have been told directly they have a lot of payments dropping out because people are ticking "business" and not entering their own name own their account number. CoP clearly says you enter personal and you enter your own name.  Apparently payments are being returned so if yours hasn't been your lucky.

Marcoos

Market Harborough

Just set up and very quick to do.

Not sure about the funding now based on the discussions.. 

I entered my name as it shows on the account, selected personal (it's what I normally do for other accounts) used the sort, account codes and finally the 11 digit reference code without the /1

Hopefully works...

Bigwheels1111

BonettiRules said:

gt94sss2 said:

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 

@bigwheels MarketHarbs are part of Cop and have been since May I think, they were quick to join.   If you don't get a COP match after waiting 24 hours (as per email) then DON'T send the money!!

BonettiRules said:

gt94sss2 said:

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 

@bigwheels MarketHarbs are part of Cop and have been since May I think, they were quick to join.   If you don't get a COP match after waiting 24 hours (as per email) then DON'T send the money!!

Don't send money, bit late I opened and funded the account in less than 10 minutes.

Been there seen it and done it before.

BonettiRules

Marcoos said:

Market Harborough

Just set up and very quick to do.

Not sure about the funding now based on the discussions.. 

I entered my name as it shows on the account, selected personal (it's what I normally do for other accounts) used the sort, account codes and finally the 11 digit reference code without the /1

Hopefully works...

As long as you follow their instructions in the email, NOT people on here then you won;t fall foul. If you follow people on here (saying tick business etc.) just remember you WON'T be covered by CoP if your money goes astray!

wiseonesomeofthetime

Market Harborough BS

For those applying, I found today that their system does not like apostophes, and you cannot answer their security questions with less than four characters, so if your favourite film is ELF, it may now have to be GRINCH 


That aside, application was pretty smooth tbf.

WillPS

All that matters for the transaction to succeed is for sort code, account number and reference to be correct.

CoP is just for assurance that you have these details right. Other mitigations include double/triple checking digit by digit and sending a small amount (MHBS themselves suggest sending a test payment of £1). Once you know it works, it works.

If you want/need CoP to match then you need to wait a day, then make sure the name given is the name on the account, then it'll work. But it's not mandatory and it's not the be-all and end-all in the highly unlikely event that the small payment goes missing.

MHBS don't see what name you set, nor whether you got CoP approval.

Wheres_My_Cashback

Too many people here getting wound up by COP.
The banks have done a very poor job of assuring customers with the terminology used in apps/online banking almost suggesting that you're being scammed when you're not.... as long as the sort/account/ref are correct.
Some seem to have little faith in their own abilities to get this right and start questioning themselves, because the banks have worried them and along with the proliferation of 'newer' posters this thread is not what it used to be.

Maybe COP should be discussed on it's own dedicated thread ?

masonic

BonettiRules said:

As long as you follow their instructions in the email, NOT people on here then you won;t fall foul. If you follow people on here (saying tick business etc.) just remember you WON'T be covered by CoP if your money goes astray!

CoP is not a protection scheme that gives customers cover against loss. It simply checks whether or not the destination account name matches what you enter. Banks follow separate rules around refunding customers if something goes wrong and there are no criteria related to CoP in those rules that would mean that a customer has less cover.

People should follow what banks instruct related to payments because it gives them recourse against the bank if they experience problems as a result of following their instructions. MHBS does not state anywhere I can see that customers need to wait until they get a CoP match to make their payment, only that they may not get a match within the 24 hours after opening their account.