Regular Savings Accounts: The Best Currently Available List!

colsten

My first Coventry RS matured yesterday, when it turned into an Easy Saver. I closed it online yesterday, and money arrived in my current account this morning. Nice job, Coventry 👏

liamcov

For the HSBC Reg Saver - if my first deposit is today, can I amend the SO tomorrow so it'll come out on 1st rather than 28 Oct?

surreysaver

liamcov said:

For the HSBC Reg Saver - if my first deposit is today, can I amend the SO tomorrow so it'll come out on 1st rather than 28 Oct?

No. HSBC, M&S and First Direct do not allow you to change the date (well, I think you can, but I believe it doesn't make any difference to the interest you earn at the end)
Then there are others, such as Coventry and Santander, that the 'month' begins on the date you open the account, rather than the first of every month 

colsten

liamcov said:

For the HSBC Reg Saver - if my first deposit is today, can I amend the SO tomorrow so it'll come out on 1st rather than 28 Oct?

You definitely can't change the date yourself, and I doubt they will do it for you. It would be a matter of asking them.

RG2015

RG2015 said:

typistretired said:

You should try, I did a few months ago and the system allowed me to open another.  The fact the rate has dropped means it is now an easy access.

I did, and it said I was ineligible because I already hold a Regular Saver account. It went on to say that I would be able to open a new account on or after the date my existing Regular Saver account matures.

Probably due to the weekend being two non working days.

My HSBC matured on 27 Sept but they have told me I cannot open a new one until the old one has been converted which should be 5 working days.

Fingerbobs

RG2015 said:

RG2015 said:

typistretired said:

You should try, I did a few months ago and the system allowed me to open another.  The fact the rate has dropped means it is now an easy access.

I did, and it said I was ineligible because I already hold a Regular Saver account. It went on to say that I would be able to open a new account on or after the date my existing Regular Saver account matures.

Probably due to the weekend being two non working days.

My HSBC matured on 27 Sept but they have told me I cannot open a new one until the old one has been converted which should be 5 working days.

Last time my HSBC matured, I found I was able to apply for a new one as soon as the old one had disappeared from Internet Banking, so there was only 1 day 'drift' of maturity date. However, I already had the Instant Access account open for the funds to transfer into - that could be the difference. 

Fingerbobs

liamcov said:

For the HSBC Reg Saver - if my first deposit is today, can I amend the SO tomorrow so it'll come out on 1st rather than 28 Oct?

HSBC doesn't allow the date of any Standing Order to be amended in their online banking system. The only parameter you can edit online on an existing Standing Order is the amount. You can delete the SO and create a new one with a different date, but I'm led to believe that this has no effect on the date the deposit into the Regular Saver starts earning interest, so there is no advantage to doing so (not tested myself, but it's what the general consensus on this forum seems to be). 

colsten

RG2015 said:

RG2015 said:

typistretired said:

You should try, I did a few months ago and the system allowed me to open another.  The fact the rate has dropped means it is now an easy access.

I did, and it said I was ineligible because I already hold a Regular Saver account. It went on to say that I would be able to open a new account on or after the date my existing Regular Saver account matures.

Probably due to the weekend being two non working days.

My HSBC matured on 27 Sept but they have told me I cannot open a new one until the old one has been converted which should be 5 working days.

My last HSBC RS matured on July 15, and the balance could be transferred out on July 17. The new one started July 20, 3rd working day after maturity of the previous one. My records show that I actually applied for the current one on July 15 but they took their time over taken the opening deposit and setting up the new SO.

Bobblehat

RG2015 said: My HSBC matured on 27 Sept but they have told me I cannot open a new one until the old one has been converted which should be 5 working days.

My HSBC RS matured on 23rd Sept 2020. It was opened on 20th Sept 2019 but it appears that the maturity date is set by the first deposit, which was 23/09/2019. Beforehand, I made a live chat inquiry to when the earliest I could open a new RS. I was told that the old RS account would disappear 2 days before maturity (it did) and the money would reappear on the maturity day in the Flex Saver (it did!). I was told I would have to wait 5 days after the money disappeared (so 3 days after it goes into the Flex Saver) if I wanted to apply online. I asked if there was a quicker way and was told you can phone up to open a new one on the day the money appears in the Flex Saver. 

So I phoned up on the day the money arrived in the Flex Saver (the maturity date) and was told there was no problem applying online today!    I do wish the CS people would get their act together!

Bottom line ..... old one matured and appeared in Flex Saver 23rd. New one applied for online 23rd, funded and shown as open on 24th. Job done (until next year ) Hope that helps.

RG2015

HSBC Regular
First deposit, Fri 27/09/2019
Interest added, Sat 26/09/2020, interest rate showing as 0.01% AER but still called PREF REG SAV

Today, Mon 28/09/2020, I transferred out the full balance, £3,081.14.
Still showing account as PREF REG SAV, Bal £0.00, interest rate 0.01% AER