Regular Savings Accounts: The Best Currently Available List!

PowerSavingMode

surreysaver said:

Kim_13 said:

Still no withdrawal option showing for those who let it auto convert to the EA.

Wish I’d just specified the full contributed amount and let all of the interest stay, rather than doing this because I wanted to leave behind the minimum possible to retain membership.

Which account are you talking about? If it's Tipton, I private messaged them asking to keep £10 in the EA and transfer the balance to my nominated account. And that's what they've done 

"Tipton, I private messaged them asking to keep £10 in the EA and transfer the balance to my nominated account. And that's what they've done "

I did the same, but am still awaiting for the funds to be transferred to my nominated account. 

Bridlington1

allegro120 said:

Bridlington1 said:

allegro120 said:

The next 1st of the month falls on Sunday.  Does anyone know whether the following providers credit interest on funds deposited at weekends: Aldermore, Coventry, MHBS and Newcastle? 

Aldermore- I've never made a payment on a non-working day but the Ts&Cs suggest money received on a non-working day will start to earn interest that day

Coventry- Yes

MHBS- Cut-off of 3pm on a working day

Newcastle-  Not the clearest but implies funds received on a non-working day will earn interest from that day.

The Newcastle BS general Ts&Cs state ``The money will show in your account the same working day, and typically within 2 hours." but will start earning interest ``From the day we receive the money.". Their FAQs state: ``If a deposit is made by electronic transfer, you will receive interest on the day we receive your funds."

Thank you! My list for manual deposits is now completed:
Ayes - Aldermore, BoS, Coventry, Gatehouse, Halifax, Lloyds, Melton, MonBS, Newcastle, Nottingham, Nationwide, Principality, TSB, YBS.
Noes - Co-op, Hanley, Loughborough, Mansfield, MHBS, Progressive, Saffron, Skipton, Virgin.
Does this look correct?

Looks correct except for Monmouthshire:

If the money is paid in on a non-working day, or outside normal business hours, we’ll receive it on the next working day. As soon as we receive the money, it will start to earn interest and you’ll be able to take it out of your account.

[...]

If you add money to your account using cash or an electronic payment, you’ll start earning interest from when we receive it. If you pay money in by cheque, you’ll start earning interest on the second working day. If we receive the money on a non-working day, you’ll start earning interest on the next working day.

allegro120 said:

Bridlington1 said:

allegro120 said:

The next 1st of the month falls on Sunday.  Does anyone know whether the following providers credit interest on funds deposited at weekends: Aldermore, Coventry, MHBS and Newcastle? 

Aldermore- I've never made a payment on a non-working day but the Ts&Cs suggest money received on a non-working day will start to earn interest that day

Coventry- Yes

MHBS- Cut-off of 3pm on a working day

Newcastle-  Not the clearest but implies funds received on a non-working day will earn interest from that day.

The Newcastle BS general Ts&Cs state ``The money will show in your account the same working day, and typically within 2 hours." but will start earning interest ``From the day we receive the money.". Their FAQs state: ``If a deposit is made by electronic transfer, you will receive interest on the day we receive your funds."

For FD I deposit into current account on the date the SO is due.  I have £500 overdraft so it doesn't matter if my deposit arrives after the SO has been taken. Could even delay it for a month, but I don't want to play this game (especially remembering that you've been banned from LBG for taking too much advantage of your overdraft facilities).
For HSBC I've decided to stick to SO and deposit  into current account 1 day before SO is due.  I'm not sure what happens if SO will go through if I have no money in HSBC current account.

I've done the same as you with FD.

As for HSBC they tried taking a £250 SO whilst my current account was at nil when I still had their 5% RS in early 2023 and IIRC the current account showed as -£250 and they sent me a text message about 6am telling me the SO would fail unless I added enough funds to cover it by whatever time later that day.

I added £250 to cover the SO and that was the end of it. The £250 showed in my regular saver as normal.

Aidanmc

allegro120 said:

Bridlington1 said:

allegro120 said:

The next 1st of the month falls on Sunday.  Does anyone know whether the following providers credit interest on funds deposited at weekends: Aldermore, Coventry, MHBS and Newcastle? 

Aldermore- I've never made a payment on a non-working day but the Ts&Cs suggest money received on a non-working day will start to earn interest that day

Coventry- Yes

MHBS- Cut-off of 3pm on a working day

Newcastle-  Not the clearest but implies funds received on a non-working day will earn interest from that day.

The Newcastle BS general Ts&Cs state ``The money will show in your account the same working day, and typically within 2 hours." but will start earning interest ``From the day we receive the money.". Their FAQs state: ``If a deposit is made by electronic transfer, you will receive interest on the day we receive your funds."

Thank you! My list for manual deposits is now completed:
Ayes - Aldermore, BoS, Coventry, Gatehouse, Halifax, Lloyds, Melton, MonBS, Newcastle, Nottingham, Nationwide, Principality, TSB, YBS.
Noes - Co-op, Hanley, Loughborough, Mansfield, MHBS, Progressive, Saffron, Skipton, Virgin.
Does this look correct?

Would Natwest and RBS be in Ayes ?

Bridlington1

Aidanmc said:

allegro120 said:

Bridlington1 said:

allegro120 said:

The next 1st of the month falls on Sunday.  Does anyone know whether the following providers credit interest on funds deposited at weekends: Aldermore, Coventry, MHBS and Newcastle? 

Aldermore- I've never made a payment on a non-working day but the Ts&Cs suggest money received on a non-working day will start to earn interest that day

Coventry- Yes

MHBS- Cut-off of 3pm on a working day

Newcastle-  Not the clearest but implies funds received on a non-working day will earn interest from that day.

The Newcastle BS general Ts&Cs state ``The money will show in your account the same working day, and typically within 2 hours." but will start earning interest ``From the day we receive the money.". Their FAQs state: ``If a deposit is made by electronic transfer, you will receive interest on the day we receive your funds."

Thank you! My list for manual deposits is now completed:
Ayes - Aldermore, BoS, Coventry, Gatehouse, Halifax, Lloyds, Melton, MonBS, Newcastle, Nottingham, Nationwide, Principality, TSB, YBS.
Noes - Co-op, Hanley, Loughborough, Mansfield, MHBS, Progressive, Saffron, Skipton, Virgin.
Does this look correct?

Would Natwest and RBS be in Ayes ?

Both would be in the Noes I'm afraid.

allegro120

Aidanmc said:

allegro120 said:

Bridlington1 said:

allegro120 said:

The next 1st of the month falls on Sunday.  Does anyone know whether the following providers credit interest on funds deposited at weekends: Aldermore, Coventry, MHBS and Newcastle? 

Aldermore- I've never made a payment on a non-working day but the Ts&Cs suggest money received on a non-working day will start to earn interest that day

Coventry- Yes

MHBS- Cut-off of 3pm on a working day

Newcastle-  Not the clearest but implies funds received on a non-working day will earn interest from that day.

The Newcastle BS general Ts&Cs state ``The money will show in your account the same working day, and typically within 2 hours." but will start earning interest ``From the day we receive the money.". Their FAQs state: ``If a deposit is made by electronic transfer, you will receive interest on the day we receive your funds."

Thank you! My list for manual deposits is now completed:
Ayes - Aldermore, BoS, Coventry, Gatehouse, Halifax, Lloyds, Melton, MonBS, Newcastle, Nottingham, Nationwide, Principality, TSB, YBS.
Noes - Co-op, Hanley, Loughborough, Mansfield, MHBS, Progressive, Saffron, Skipton, Virgin.
Does this look correct?

Would Natwest and RBS be in Ayes ?

Definitely Noes. I didn't include them because they are not on my list anymore, I've reached the £5k limit in both and now just withdrawing the interest.

surreysaver

simonsmithsays said:

trickydicky14 said:

Sometimes the compensation culture gets out of hand me thinks

Agreed

Some on these forums actively look for ways to seek an OTT payment whilst trying to project a false guise of 'Ill show them' when they've missed out on a matter of pence.

Anyway - back to Regular Savers anyone?

This is about regular savers. The T&Cs need to state the upper limits of what you can deposit. That is the whole point of regular savers, and when the upper limits are stated (i.e. £300pm) and they reject payments claiming its above the limit when it isn't, it is very much relevent to this thread when forum members discuss this issue.

surreysaver

Dizzycap said:

gt94sss2 said:

Aidanmc said:

Just received the 'rejected deposit' email from Gatehouse.

Funds will be returned to source account within 2 working days

Is anyone planning to complain that rejecting the 13th payment is not in line with their T&C?

Edit: I believe that several did when the same issue occurred recently with Monmouthshire BS

Absolutely not. There's only a few days between squeezing a 13th payment in and my maturity date, so it's not worth it.

Not a few days, it's nearly a month. Mine matures on 29th November 

gt94sss2

trickydicky14 said:

Sometimes the compensation culture gets out of hand me thinks

As others have said, my post was not related to seeking compensation but asking if anyone was planning to query why Gatehouse have rejected payments which are in line with their terms and conditions. 

Quite often the only way you can question these actions is via lodging a complaint.

masonic

simonsmithsays said:

Or is following the T&C's only done when it's in ones 'interest'?

Clearly that is one account with two working references.

chris_the_bee

simonsmithsays said:

surreysaver said:

simonsmithsays said:

trickydicky14 said:

Sometimes the compensation culture gets out of hand me thinks

Agreed

Some on these forums actively look for ways to seek an OTT payment whilst trying to project a false guise of 'Ill show them' when they've missed out on a matter of pence.

Anyway - back to Regular Savers anyone?

This is about regular savers. The T&Cs need to state the upper limits of what you can deposit. That is the whole point of regular savers, and when the upper limits are stated (i.e. £300pm) and they reject payments claiming its above the limit when it isn't, it is very much relevent to this thread when forum members discuss this issue.

It's still pence.

I.e. I guarantee that lots on here circling the, already mentioned, compensation have a decent Easy Access account that they'll be keeping that returned £300 in.

I'll bet that's running around 5%.  

So that's a loss of maybe 50p, for that missing £300, over that month from the 7% Gatehouse?

Recording on here how much compensation forumites have 'made' (reading this thread some definitely are primed for these discrepancies) isn't my cup of tea.

Chasing £25, £50 compensation for a personal 50p loss (£1.75 top line) certainly isn't something I'd feel comfortable with 'to show the pesky institution'.

Each to their own I guess...

Probably worth someone starting a 'Gatehouse we demand some compensation thread' where you can compare the amounts you're keen to get and how you're going to get it!

The compensation isn't necessarily about it's monetary value to an individual. The total compensation paid by a BS will be recorded in the accounts and should be seen by someone near the top of the management chain. As it will affect the BS profits, hopefully questions will be asked and the delinquent individual or department should be admonished.