Regular Savings Accounts: The Best Currently Available List!

allegro120

Speculator said:

Bigwheels1111 said:

Just looked at my Coventry regular saver, interest has been added £111.96 and changed to an easy access account.
Set up withdrawal for tomorrow the 27th.
All good, I hope Gatehouse goes as smoothly on Friday.

Mine is due to mature tomorrow. Anyone know if Coventry withdrawals are same day or next day? Thanks.

Withdrawals are processed next day.

Bigwheels1111

Speculator said:

Bigwheels1111 said:

Just looked at my Coventry regular saver, interest has been added £111.96 and changed to an easy access account.
Set up withdrawal for tomorrow the 27th.
All good, I hope Gatehouse goes as smoothly on Friday.

Mine is due to mature tomorrow. Anyone know if Coventry withdrawals are same day or next day? Thanks.

Next day.

Have you checked yours, I looked at 23.00 pm last night and it was an easy access account.

So it let me set up a payout today.

Not arrived yet.

Speculator

Bigwheels1111 said:

Speculator said:

Bigwheels1111 said:

Just looked at my Coventry regular saver, interest has been added £111.96 and changed to an easy access account.
Set up withdrawal for tomorrow the 27th.
All good, I hope Gatehouse goes as smoothly on Friday.

Mine is due to mature tomorrow. Anyone know if Coventry withdrawals are same day or next day? Thanks.

Next day.

Have you checked yours, I looked at 23.00 pm last night and it was an easy access account.

So it let me set up a payout today.

Not arrived yet.

Just checked and its still the Loyalty Regular Saver.

 Opened mine 28/11/23 so due to mature by tomorrow. Can't find the maturity letter but sure it said maturity date is 27/11.

Need the money by end of this month to fund next months Regular Savers so hopefully get it by Friday at the latest.

Thanks for the tip. I will check from 10pm for any activity.

pafpcg

Speculator said:

Bigwheels1111 said:

Speculator said:

Bigwheels1111 said:

Just looked at my Coventry regular saver, interest has been added £111.96 and changed to an easy access account.
Set up withdrawal for tomorrow the 27th.
All good, I hope Gatehouse goes as smoothly on Friday.

Mine is due to mature tomorrow. Anyone know if Coventry withdrawals are same day or next day? Thanks.

Next day.

Have you checked yours, I looked at 23.00 pm last night and it was an easy access account.

So it let me set up a payout today.

Not arrived yet.

Just checked and its still the Loyalty Regular Saver.

 Opened mine 28/11/23 so due to mature by tomorrow. Can't find the maturity letter but sure it said maturity date is 27/11.

Coventry Loyalty:

I too opened an account on 28-Nov-2023.  My letter states "At the end of 27th Nov 2024, we'll automatically move your savings to an Easy Saver(7) account".  So the account should be accessible on Thursday 28th and a withdrawal request can be submitted on Thursday which Coventry will debit from the account sometime on Friday morning and funds paid to the external bank account sometime on Friday afternoon (in my experience sometime between 12:30 & 16:30).

allegro120

Bigwheels1111 said:

Speculator said:

Bigwheels1111 said:

Just looked at my Coventry regular saver, interest has been added £111.96 and changed to an easy access account.
Set up withdrawal for tomorrow the 27th.
All good, I hope Gatehouse goes as smoothly on Friday.

Mine is due to mature tomorrow. Anyone know if Coventry withdrawals are same day or next day? Thanks.

Next day.

Have you checked yours, I looked at 23.00 pm last night and it was an easy access account.

So it let me set up a payout today.

Not arrived yet.

I last looked at 7.30pm and it was still RS.  I didn't think anything will happen after that time and gave up looking, thus lost one day of proper interest.  Could have received the money today if I knew the account will be morphed late at night.  

CuparLad

allegro120 said:

Speculator said:

Mine is due to mature tomorrow. Anyone know if Coventry withdrawals are same day or next day? Thanks.

Withdrawals are processed next day.

The Coventry will take your instruction, but will not act on that instruction until the following working day. They operate a bit like a one-day notice account. The funds are not withdrawn on the date of the request, but the following working day, so if you withdraw funds on Tuesday, they will be debited from your account on the Wednesday and sent over by Faster Payment. This means the funds don't arrive overnight, but at some point the following working day. The plus point is an extra day's interest, but if your need for funds is time critical, you have no way of knowing when the funds will arrive.

allegro120

CuparLad said:

allegro120 said:

Speculator said:

Mine is due to mature tomorrow. Anyone know if Coventry withdrawals are same day or next day? Thanks.

Withdrawals are processed next day.

The Coventry will take your instruction, but will not act on that instruction until the following working day. They operate a bit like a one-day notice account. The funds are not withdrawn on the date of the request, but the following working day, so if you withdraw funds on Tuesday, they will be debited from your account on the Wednesday and sent over by Faster Payment. This means the funds don't arrive overnight, but at some point the following working day. The plus point is an extra day's interest, but if your need for funds is time critical, you have no way of knowing when the funds will arrive.

The extra day's interest is at 2.85%.  I don't know why they can't act (process payments) on the same day, I doubt they have to do it manually.  Just curious, why banks and some BSs can do it on the same day and other BSs can't?  

spreadsheeterapple

allegro120 said:

I don't know why they can't act (process payments) on the same day, I doubt they have to do it manually.  Just curious, why banks and some BSs can do it on the same day and other BSs can't?  

You'd be surprised how much work still has manual involvement !

A longer timescale for making payments is especially true for building societies which are not clearing banks.
The payment instruction has to be entered into the building society's own bank account via their online banking, which is probably done in batches or even only once daily as opposed to being logged in all the time, not reacting in real-time to customer instructions, added to which there will be some internal anti-fraud checking and dual control to thwart staff miscreants.

soulsaver

Penrith BS 200 Reg E-Saver iss1
5.00% variable 2 year term.  £200 pm max, limited access. 
Online Savings - Penrith Building Society

simonsmithsays

soulsaver said:

Penrith BS 200 Reg E-Saver iss1
5.00% variable 2 year term.  £200 pm max limited access. 
Online Savings - Penrith Building Society

Thanks for this.

Like a few on here I thought holding the N/A Regular Saver 300 would have enabled me to apply for the Branch 200 but to no avail.

So it's nice that you've highlighted this.