Regular Savings Accounts: The Best Currently Available List!

schiff

[Deleted User] said:

schiff said:

Tipton

Maturity pack arrived by post today. Closing the account means a cheque! No alternative offered.

If you don't send instructions in the franked envelope provided the proceeds go into a 3.60% EA (limited) account. Not very interesting. Presumably withdrawals also by cheque.

So - a reminder please of which banks would take a cheque deposit of £3500+ by photo?

What about if you live close by? No change?

Await your letter

schiff

simonsmithsays said:

rob37uk said:

The Tipton app maturity options seem to have gone live. I have an option to close by electronic transfer to my nominated bank account. 

After being clicking on the three other accounts available and being underwhelmed  I then clicked on the Automatic Roll over option to see what it was and then suddenly I got the Thank you for selecting your maturity option.

Thing is I've no idea what this automatic roll over option is.

Any clues?

I think you'll probably be OK. The first choice on the maturity declaration is headed 'Rolling Over' and it's the 3.60% EA maturity saver.

Dizzycap

Dizzycap said:

ForumUser7 said:

allegro120 said:

schiff said:

Tipton

Maturity pack arrived by post today. Closing the account means a cheque! No alternative offered.

If you don't send instructions in the franked envelope provided the proceeds go into a 3.60% EA (limited) account. Not very interesting. Presumably withdrawals also by cheque.

So - a reminder please of which banks would take a cheque deposit of £3500+ by photo?

Definitely. "We do not permit withdrawals to be made by direct debit, standing order, or by electronic/Faster Payment." https://www.thetipton.co.uk/media/3552/tipton-terms-and-conditions.pdf

So presumably the cash drag timeline is:
Matures on Thursday, cheque sent on Friday, arrives on Monday and (from memory with Lloyds by photo) takes one or two days to be cashed. 6-7 days of £3500+interest earning nothing, but the rate is good enough to compensate for the delay.

Strange that they could "modernise" to offering app account, but still live in the "cheque/cash only" world.

I don’t understand.

when I closed my last Tipton RS on maturity they did it via bank transfer.

is this perhaps the difference between variants opened by app and by post? Has anyone who opened in the app been offered cheque only?

No. Only a direct transfer back to my link account upon maturity at the end of the month.

Received an email this morning stating that there is another option available, although I've already selected maturing Tipton funds to go back to my nominated accout.

If you go into the Tipton App and look at 'Products' there is now an option to transfer maturing funds from the Regular Saver into a fixed rate 1 year bond at 4.05% with no withdrawals - not competitive, imho!

'Fix Rate Regular Saver Maturity Options'.

If you want your money to go back to your nominated account then select that option on your homepage in the App. There should be a link along the bottom of the Regular Saver box. Once you'ce confirmed, it should say: Thank you for selecting your maturity option, and the link will disappear.

PloughmansLunch

schiff said:

simonsmithsays said:

rob37uk said:

The Tipton app maturity options seem to have gone live. I have an option to close by electronic transfer to my nominated bank account. 

After being clicking on the three other accounts available and being underwhelmed  I then clicked on the Automatic Roll over option to see what it was and then suddenly I got the Thank you for selecting your maturity option.

Thing is I've no idea what this automatic roll over option is.

Any clues?

I think you'll probably be OK. The first choice on the maturity declaration is headed 'Rolling Over' and it's the 3.60% EA maturity saver.

EA rollover is showing as 3.75% for me, not that the rate is anything to break out the party poppers for

gt94sss2

PloughmansLunch said:

schiff said:

simonsmithsays said:

rob37uk said:

The Tipton app maturity options seem to have gone live. I have an option to close by electronic transfer to my nominated bank account. 

After being clicking on the three other accounts available and being underwhelmed  I then clicked on the Automatic Roll over option to see what it was and then suddenly I got the Thank you for selecting your maturity option.

Thing is I've no idea what this automatic roll over option is.

Any clues?

I think you'll probably be OK. The first choice on the maturity declaration is headed 'Rolling Over' and it's the 3.60% EA maturity saver.

EA rollover is showing as 3.75% for me, not that the rate is anything to break out the party poppers for

I also find the name of the easy access account slightly misleading given the following

Withdrawals are limited to a maximum of six each calendar year. After your six withdrawal, no further withdrawals including closure of the account and withdrawal of any interest, is allowed until the following calendar year. 

schiff

Tipton

I was working from the paper version of the T&Cs that came with the letter, it shows 3.60%

10_66

schiff said:

Tipton

I was working from the paper version of the T&Cs that came with the letter, it shows 3.60%

Mine's paper version and also shows 3.60%.

schiff

"If you want your money to go back to your nominated account then select that option on your homepage in the App. There should be a link along the bottom of the Regular Saver box. Once you've confirmed, it should say: Thank you for selecting your maturity option, and the link will disappear."

I've tried everything but no joy. The link isn't there - for me anyway. I'll try again in a day or so. There's plenty of time. 

10_66

schiff said:

"If you want your money to go back to your nominated account then select that option on your homepage in the App. There should be a link along the bottom of the Regular Saver box. Once you've confirmed, it should say: Thank you for selecting your maturity option, and the link will disappear."

I've tried everything but no joy. The link isn't there - for me anyway. I'll try again in a day or so. There's plenty of time. 

I rang and asked about this.  The option for money to go back to nominated account only applies to accounts opened in the app.  For those us that missed the app version and had to apply by post, I'm afraid any withdrawals have to be by cheque, if not a branch.

Edit:  Don't forget to send your passbook back if it was opened by post, I was told they will need this.

Marcoos

YBS Christmas Regular eSaver 2024

Got the email about maturity on 31/10/24. Seems funds will be transfered to an Easy Access Saver Issue 2 (quoted @ 4.60%) on 01/11/24. Which will do me fine, can shift it around after that.