Regular Savings Accounts: The Best Currently Available List!

WillPS

With Principality BS changing to a new 6 month Regular Saver issue, is it worth closing/reopening the existing one do we think? Mrs WillPS's is in its final few weeks, mine expires in Jan (and I wouldn't mind pushing a bit more interest in to the next tax year).

ISTR the whole process can be done very quickly, can anyone confirm

Bob2000

allegro120 said:

liamcov said:

Bridlington1 said:

Principality BS to launch a 6 Month Regular Saver Issue 2 over the coming days.

No further details are known yet but the application link to the account has appeared on their website which implies Issue 1 at 8% shall be replaced within the next week or so.

What is the process for closing Issue 1 and opening another before it disappears? 

I've done this 2 weeks ago.  Can't remember the exact details but it was very straight forward, closed and immediately opened a new one online.

If you close today with a full balance instead of letting it mature what do you gain in interest?

Stargunner

Withdrew funds last night from matured Gatehouse RS and they have now arrived in my bank, in plenty of time to fund other RS accounts from the 1st

schiff

I'm doing nothing with my Gatehouse till it is clarified. It is now described as EA RS Issue 1 at 5.00% and the start of the account number is now ERG. I have nothing in EA at 5.00% or better, so I'm leaving it alone for now. I've already got my £6K ready for Monday.
As for Monmouth, I read that people are not happy, withdrawing, stopping funding - what do they want, 5.65% is excellent in the current climate - until I infer that they have a limited portfolio at higher rates to concentrate on.

pecunianonolet

Can anybody remind me which regular saver accounts can take funding on Sunday 1st and which ones only from Monday 2nd using manual transfers? I know some can take an incoming payment on Sunday but won't pay you interest, which is why they need funding on Monday.

Bobblehat

schiff said:

I'm doing nothing with my Gatehouse till it is clarified. It is now described as EA RS Issue 1 at 5.00% and the start of the account number is now ERG. I have nothing in EA at 5.00% or better, so I'm leaving it alone for now. I've already got my £6K ready for Monday.
As for Monmouth, I read that people are not happy, withdrawing, stopping funding - what do they want, 5.65% is excellent in the current climate - until I infer that they have a limited portfolio at higher rates to concentrate on.

I asked them for the T&C's as the link they gave in the email was a 404 (as someone pointed out earlier). They said they will email them to me .... not seen them yet!

The CS did say they thought there was nothing different about this EA to the other EA they offer, no restrictions on withdrawals, and you can change it to monthly at 4.89% and pay away if you want to, change it online etc.. Upper limit £250,000 (I think she said) .... I wish! If they do send the T&C's and there is anything different to above, I'll message again.

Kim_13

schiff said:

I'm doing nothing with my Gatehouse till it is clarified. It is now described as EA RS Issue 1 at 5.00% and the start of the account number is now ERG. I have nothing in EA at 5.00% or better, so I'm leaving it alone for now. I've already got my £6K ready for Monday.
As for Monmouth, I read that people are not happy, withdrawing, stopping funding - what do they want, 5.65% is excellent in the current climate - until I infer that they have a limited portfolio at higher rates to concentrate on.

Until now it had been paying the same as Melton, so I prioritised that one on the basis that it lasts for 2 years rather than the 1 of Monmouthshire and allowed withdrawals. It’s still available to open as a new customer currently. 

5.65% is lower than would be expected for a Member Exclusive, and as I can still get 5% EA at the moment, it’s not worth funding it on the basis that 0.65% is not enough of a premium to forego access. Yes, you can close without penalty, but the £500 deposit limit might be useful at a later date and you lose that if you need to make a withdrawal.

An initial 6% when Issue 1 was still paying 7.75% after the first base rate drop gave the impression that the margin was there for them to hold the rate, only for it to be dropped within a few months. 

Kim_13

pecunianonolet said:

Can anybody remind me which regular saver accounts can take funding on Sunday 1st and which ones only from Monday 2nd using manual transfers? I know some can take an incoming payment on Sunday but won't pay you interest, which is why they need funding on Monday.

I’m only doing YBS and Principality (but I don’t have the Virgin one so don’t know how that high payer works.)

Saffron and Skipton are ready to go and there are ways of getting the money in but following recent discussion here, they appear to not pay interest on a Sunday.

Unsure on any lower payers as I don’t have the funds for them until my Cambridge RS renews next week.

allegro120

Bob2000 said:

allegro120 said:

liamcov said:

Bridlington1 said:

Principality BS to launch a 6 Month Regular Saver Issue 2 over the coming days.

No further details are known yet but the application link to the account has appeared on their website which implies Issue 1 at 8% shall be replaced within the next week or so.

What is the process for closing Issue 1 and opening another before it disappears? 

I've done this 2 weeks ago.  Can't remember the exact details but it was very straight forward, closed and immediately opened a new one online.

If you close today with a full balance instead of letting it mature what do you gain in interest?

It depends on a number of days and the amount you were holding in the account.

pecunianonolet

Kim_13 said:

pecunianonolet said:

Can anybody remind me which regular saver accounts can take funding on Sunday 1st and which ones only from Monday 2nd using manual transfers? I know some can take an incoming payment on Sunday but won't pay you interest, which is why they need funding on Monday.

I’m only doing YBS and Principality (but I don’t have the Virgin one so don’t know how that high payer works.)

Saffron and Skipton are ready to go and there are ways of getting the money in but following recent discussion here, they appear to not pay interest on a Sunday.

Unsure on any lower payers as I don’t have the funds for them until my Cambridge RS renews next week.

I've got Coop, Nationwide, Virgin, Principality, Lloyds, Aldermore, YBS, Skipton, TSB, Coventry FHS 1, Halifax and Newcastle BS. Not funding the last three really due to funding availability, interest payment date (tax) and also only use those with access to funds.