Regular Savings Accounts: The Best Currently Available List!

Bobblehat

surreysaver said:

Bobblehat said:

janusdesign said:

Re: Gatehouse...

I can confirm that our Regular Saver account does only allow 12 payments of £300.00, and this has always applied. There are no IT errors and no changes to our Regular Saver policy. Apologies for any confusion or inconvenience this may have caused.

i'm unsure that's true, but hey ho... though these are the same people who categorically told me 12 months ago that the RS must be funded by external account and not via internal transfers.

Your comment to their reply perfectly sums up why I asked forumites to confirm that their 13th external payment had bounced!  Like you, I suspected that I had received confusing (conflicting!) replies from Gatehouse in the past. I tried to make my 13th payment by internal transfer and I had a slight suspicion that that may have been the reason that my 13th payment had failed. My suspicion was wrong, forumite replies confirmed that internal and external 13th payments all bounced. I have not been tempted to complain or further fuel the "compensation culture" debate!

It's not a 'compensation culture'.  It's a 'try and get the T&Cs right' culture.

I agree with you .... I was quoting from others' previous posts, which I did not necessarily agree with 

GetRichOrDieSaving

Thanks for the heads up on closing the Skipton RS Issue 2 to open the Issue 3 thus prolonging the fixed 7% maturity date. I’ve just done that successfully with ease and added an additional 10 months!!! 

Are there any other regular savers which have fixed rates and new issues in which the same gain can be achieved?

I can only see products being pulled and new issues released at lower rates as the BOE base rate drops further (presumably of course)…..

masonic

Aidanmc said:

janusdesign said:

Re: Gatehouse...

I can confirm that our Regular Saver account does only allow 12 payments of £300.00, and this has always applied. There are no IT errors and no changes to our Regular Saver policy. Apologies for any confusion or inconvenience this may have caused.

i'm unsure that's true, but hey ho... though these are the same people who categorically told me 12 months ago that the RS must be funded by external account and not via internal transfers.

I sent them an email a few days ago, not a complaint as such, but an enquiry about my £300 that hadn't been returned and to say the terms didnt state any max balance as such.

This was their response today.....

Thank you for your email of 2 November, my sincerest apologies for the delay of response.

Please be advised the terms state the Regular Saver account is a 12 month account and the month of maturity would be classed as the 13th month and therefore no deposit is accepted.

I do apologise that the terms and conditions do not explicitly state that the maximum balance is £3600.00, this is under review.

It is not a 12 month account, it is an account with a 12 month term (a duration equivalent to 12 calendar months, aka 365/366 days or 1 year). A 12 month term does not mean the term ends at the end of the 12th calendar month, or you'd have your money back already.

GetRichOrDieSaving

JamesRobinson48 said:

GetRichOrDieSaving said:

Thanks for the heads up on closing the Skipton RS Issue 2 to open the Issue 3 thus prolonging the fixed 7% maturity date. I’ve just done that successfully with ease and added an additional 10 months!!! 

Are there any other regular savers which have fixed rates and new issues in which the same gain can be achieved?

I can only see products being pulled and new issues released at lower rates as the BOE base rate drops further (presumably of course)…..

You could try closing, and then promptly reopening, the Principality BS 6 Month RS (8.00% AER). No guarantees that would work mind.

I’ve attempted it so will report back.

Account will be closed and funds transferred tomorrow (07.11.2024) then I will see if I can reopen another one….

csw5780

JamesRobinson48 said:

GetRichOrDieSaving said:

Thanks for the heads up on closing the Skipton RS Issue 2 to open the Issue 3 thus prolonging the fixed 7% maturity date. I’ve just done that successfully with ease and added an additional 10 months!!! 

Are there any other regular savers which have fixed rates and new issues in which the same gain can be achieved?

I can only see products being pulled and new issues released at lower rates as the BOE base rate drops further (presumably of course)…..

You could try closing, and then promptly reopening, the Principality BS 6 Month RS (8.00% AER). No guarantees that would work mind.

Did exactly that last night. New account open and funded today

veggieblob

csw5780 said:

JamesRobinson48 said:

GetRichOrDieSaving said:

Thanks for the heads up on closing the Skipton RS Issue 2 to open the Issue 3 thus prolonging the fixed 7% maturity date. I’ve just done that successfully with ease and added an additional 10 months!!! 

Are there any other regular savers which have fixed rates and new issues in which the same gain can be achieved?

I can only see products being pulled and new issues released at lower rates as the BOE base rate drops further (presumably of course)…..

You could try closing, and then promptly reopening, the Principality BS 6 Month RS (8.00% AER). No guarantees that would work mind.

I closed and re-opened Principality 6m this morning.  Money in my bank and new account funded before the new interest rate announced!  Thanks so much for the very helpful posts on here.  I would never have thought of extending Skipton and Principality even though I've done similar with LBG.  Such a help to those of us trying to make our savings pot last as long as possible

Gers

Re Gatehouse 13th payment into RS. I've been in an email conversation with them this morning. The final response was:

Further to my previous email, we have just been informed via senior management that as a result of feedback regarding our Regular Saver terms and conditions, we have successfully amended our payment acceptance to accept an additional £300 to your regular saver.  I apologise for any inconvenience and confusion caused.

 Great result despite the time involved - well done Gatehouse. I presume that they are adjusting the T&Cs for the future and am happy that they have dealt with the issue.

SJMALBA

RE. Gatehouse Rejected 13th Deposit.

Complaint handler contacted me yesterday to apologise for the confusion and inconvenience caused, that quite a number of customers had contacted them, and that the matter had been escalated to head office for review/investigation; also said that their system does not allow a 13th deposit. I politely took issue with the characterisation of what had happened as being due to 'confusion', pointing out the I, and other customers, had acted in accordance with the Ts & Cs of the account, and that, IMO, the bank had not; she said this would be fed back to head office. She further said that their investigation would not be able to consider allowing a 13th deposit.

Complaint handler called back a short time later to say that she had just received confirmation that head office would now consider the option of allowing a 13th payment.

Another call today to say that a 13th deposit can now be sent again, with interest backdated to when originally sent, for all customers affected.

EDIT: I see that @Gers beat me to it! 

And yes, they are reviewing the Ts & Cs for their RS.

RosieRooBear

Gers said:

Re Gatehouse 13th payment into RS. I've been in an email conversation with them this morning. The final response was:

Further to my previous email, we have just been informed via senior management that as a result of feedback regarding our Regular Saver terms and conditions, we have successfully amended our payment acceptance to accept an additional £300 to your regular saver.  I apologise for any inconvenience and confusion caused.

 Great result despite the time involved - well done Gatehouse. I presume that they are adjusting the T&Cs for the future and am happy that they have dealt with the issue.

Thank you @Gers, £300 paid back into Gatehouse RS 😊

subjecttocontract

Doubt I'll bother......it's worth less than £2.......or am I missing something here ?