Regular Savings Accounts: The Best Currently Available List!

chris_the_bee

bioboybill said:

Opened up an account with Principality today for their Christmas 2025 RS. Sent £1 to check it works ok, but it says you need to put in an activation code they send by post within 5 days to use your online account. Is there any way of checking the £1 got there ok? Intend to put the remaining £249 in when I know it's worked ok. Bit of a pain having to wait a week.

The maximum is £125 per month, not £250

bioboybill

Ah, that was a typo. I know it's £125. Thanhks.

mebu60

bioboybill said:

Opened up an account with Principality today for their Christmas 2025 RS. Sent £1 to check it works ok, but it says you need to put in an activation code they send by post within 5 days to use your online account. Is there any way of checking the £1 got there ok? Intend to put the remaining £249 in when I know it's worked ok. Bit of a pain having to wait a week.

I logged in prior to receiving the activation code and could see the balance so I knew my payment had arrived ok. It's  £125 max not £250 btw though you can send another £125 on Friday. My code arrived in three days fyi. 
 

WindfallWendy

Bridlington1 said:

DJDools said:

mebu60 said:

jaypers said:

Looks like the interest for the YBS Christmas Regular Saver has been credited today. Mine showing as £40.95

I'm planning to close on Thursday and transfer out so that I get the funds on Friday rather than next week. 

Re:  YBS Christmas Regular eSaver 2024

Doesn't it mature on Thursday (31st) and automatically transfer into an easy access account on the same day?

It becomes an EA account on 1/11/24. Given that withdrawals from YBS arrive the next day this would mean the funds won't arrive in your nominated account until Sat 2/11/24 if you waited till it had converted before withdrawing, thus if you are wanting to use the funds to feed other regular savers I'd advise closing it early at some point on 31/10/24 to ensure your funds arrive on time for the regular savers.

When you say "on time" you mean to maximise the interest, right? Are there some RegSavers that are specific about a day the money hits the account?? So far all mine are SOs and therefore up to me when they go in. 

That said, I can't wait (?) for this time next year when my accounts are all maturing and I have to shuffle it all away into new accounts to keep the interest rate on the cash!! 😄🧐🥳

Bridlington1

WindfallWendy said:

Bridlington1 said:

DJDools said:

mebu60 said:

jaypers said:

Looks like the interest for the YBS Christmas Regular Saver has been credited today. Mine showing as £40.95

I'm planning to close on Thursday and transfer out so that I get the funds on Friday rather than next week. 

Re:  YBS Christmas Regular eSaver 2024

Doesn't it mature on Thursday (31st) and automatically transfer into an easy access account on the same day?

It becomes an EA account on 1/11/24. Given that withdrawals from YBS arrive the next day this would mean the funds won't arrive in your nominated account until Sat 2/11/24 if you waited till it had converted before withdrawing, thus if you are wanting to use the funds to feed other regular savers I'd advise closing it early at some point on 31/10/24 to ensure your funds arrive on time for the regular savers.

When you say "on time" you mean to maximise the interest, right? Are there some RegSavers that are specific about a day the money hits the account?? So far all mine are SOs and therefore up to me when they go in. 

That said, I can't wait (?) for this time next year when my accounts are all maturing and I have to shuffle it all away into new accounts to keep the interest rate on the cash!! 😄🧐🥳

Yes I'm referring to maximising interest.

If you make a withdrawal from YBS to an external (non-YBS) account the funds arrive the next day. Thus if you waited till 1/11/24 to make the withdrawal the funds would arrive on Sat 2/11/24.

By doing this not only would you not be able to use the funds to feed regular savers on 1/11/24 but many regular savers operate on a basis where funds that arrive on a non-working day will be treated as having been received the next working day for interest purposes (e.g. NatWest/RBS). Thus for many regular savers you'd have to delay funding them till Mon 4/11/24 if you wanted to avoid having money sat in a regular saver earning no interest for 2 days.

Bobblehat

mebu60 said:

bioboybill said:

Opened up an account with Principality today for their Christmas 2025 RS. Sent £1 to check it works ok, but it says you need to put in an activation code they send by post within 5 days to use your online account. Is there any way of checking the £1 got there ok? Intend to put the remaining £249 in when I know it's worked ok. Bit of a pain having to wait a week.

I logged in prior to receiving the activation code and could see the balance so I knew my payment had arrived ok. It's  £125 max not £250 btw though you can send another £125 on Friday. My code arrived in three days fyi. 
 

The activation code I think bioboybill and myself are talking about is to activate the online access (as new customers) so we couldn't log in to check to see if the £1 test payment had arrived ..... hence why I rang up! Were you an existing customer, if not, how did you log in without an activation code?

mebu60

Bobblehat said:

mebu60 said:

bioboybill said:

Opened up an account with Principality today for their Christmas 2025 RS. Sent £1 to check it works ok, but it says you need to put in an activation code they send by post within 5 days to use your online account. Is there any way of checking the £1 got there ok? Intend to put the remaining £249 in when I know it's worked ok. Bit of a pain having to wait a week.

I logged in prior to receiving the activation code and could see the balance so I knew my payment had arrived ok. It's  £125 max not £250 btw though you can send another £125 on Friday. My code arrived in three days fyi. 
 

The activation code I think bioboybill and myself are talking about is to activate the online access (as new customers) so we couldn't log in to check to see if the £1 test payment had arrived ..... hence why I rang up! Were you an existing customer, if not, how did you log in without an activation code?

I was a new customer like you. I logged in using the given user id Pnnnnnnnnn and password I set up during application process. Had to do 2FA from phone. Activation code not required to logon. You will need to login to enter the activation code when you receive the letter! Presumably you can't do transactions and suchlike until then but I could see the balance in my account so knew funds had arrived.

WindfallWendy

bioboybill said:

Opened up an account with Principality today for their Christmas 2025 RS. Sent £1 to check it works ok, but it says you need to put in an activation code they send by post within 5 days to use your online account. Is there any way of checking the £1 got there ok? Intend to put the remaining £249 in when I know it's worked ok. Bit of a pain having to wait a week.

It is indeed a pain, like all building society online portals in my view!! I've had to describe the elements of my PBS accounts in my reminder notes more than any other account!! I find it weird that you have to pay a business account and five your savings account as the reference.

BUT - it will turn up and once it does the system is much better.

You should also open a regular saver for 6 months @8% with PBS. But I'd recommend waiting until you get the activation code as then you can do it through the portal which is much easier.

WindfallWendy

Bridlington1 said:

WindfallWendy said:

Bridlington1 said:

DJDools said:

mebu60 said:

jaypers said:

Looks like the interest for the YBS Christmas Regular Saver has been credited today. Mine showing as £40.95

I'm planning to close on Thursday and transfer out so that I get the funds on Friday rather than next week. 

Re:  YBS Christmas Regular eSaver 2024

Doesn't it mature on Thursday (31st) and automatically transfer into an easy access account on the same day?

It becomes an EA account on 1/11/24. Given that withdrawals from YBS arrive the next day this would mean the funds won't arrive in your nominated account until Sat 2/11/24 if you waited till it had converted before withdrawing, thus if you are wanting to use the funds to feed other regular savers I'd advise closing it early at some point on 31/10/24 to ensure your funds arrive on time for the regular savers.

When you say "on time" you mean to maximise the interest, right? Are there some RegSavers that are specific about a day the money hits the account?? So far all mine are SOs and therefore up to me when they go in. 

That said, I can't wait (?) for this time next year when my accounts are all maturing and I have to shuffle it all away into new accounts to keep the interest rate on the cash!! 😄🧐🥳

Yes I'm referring to maximising interest.

If you make a withdrawal from YBS to an external (non-YBS) account the funds arrive the next day. Thus if you waited till 1/11/24 to make the withdrawal the funds would arrive on Sat 2/11/24.

By doing this not only would you not be able to use the funds to feed regular savers on 1/11/24 but many regular savers operate on a basis where funds that arrive on a non-working day will be treated as having been received the next working day for interest purposes (e.g. NatWest/RBS). Thus for many regular savers you'd have to delay funding them till Mon 4/11/24 if you wanted to avoid having money sat in a regular saver earning no interest for 2 days.

I really admire your commitment to getting the interest!! Which does remind me that I need to sort out my Santander bonus rate account this week. Bye bye 7% on £4000 🫤

Emily_Joy

WindfallWendy said:

Bridlington1 said:

WindfallWendy said:

Bridlington1 said:

DJDools said:

mebu60 said:

jaypers said:

Looks like the interest for the YBS Christmas Regular Saver has been credited today. Mine showing as £40.95

I'm planning to close on Thursday and transfer out so that I get the funds on Friday rather than next week. 

Re:  YBS Christmas Regular eSaver 2024

Doesn't it mature on Thursday (31st) and automatically transfer into an easy access account on the same day?

It becomes an EA account on 1/11/24. Given that withdrawals from YBS arrive the next day this would mean the funds won't arrive in your nominated account until Sat 2/11/24 if you waited till it had converted before withdrawing, thus if you are wanting to use the funds to feed other regular savers I'd advise closing it early at some point on 31/10/24 to ensure your funds arrive on time for the regular savers.

When you say "on time" you mean to maximise the interest, right? Are there some RegSavers that are specific about a day the money hits the account?? So far all mine are SOs and therefore up to me when they go in. 

That said, I can't wait (?) for this time next year when my accounts are all maturing and I have to shuffle it all away into new accounts to keep the interest rate on the cash!! 😄🧐🥳

Yes I'm referring to maximising interest.

If you make a withdrawal from YBS to an external (non-YBS) account the funds arrive the next day. Thus if you waited till 1/11/24 to make the withdrawal the funds would arrive on Sat 2/11/24.

By doing this not only would you not be able to use the funds to feed regular savers on 1/11/24 but many regular savers operate on a basis where funds that arrive on a non-working day will be treated as having been received the next working day for interest purposes (e.g. NatWest/RBS). Thus for many regular savers you'd have to delay funding them till Mon 4/11/24 if you wanted to avoid having money sat in a regular saver earning no interest for 2 days.

I really admire your commitment to getting the interest!! Which does remind me that I need to sort out my Santander bonus rate account this week. Bye bye 7% on £4000 🫤

You need to keep in mind that @Bridlington1 was in full time education until recently and savings income was his only income. For many people with full time jobs chasing interest is not a great use of their time, because they soon get above PSA allowance and the mortgage interest becomes higher than savings interest.