Regular Savings Accounts: The Best Currently Available List!

allegro120

Kim_13 said:

Bob2000 said:

allegro120 said:

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.

Opened 23rd June £1200 fully funded.

I’d have thought it risky to do at this point - closing requires manual processing on Principality’s end, so Issue 2 might be all that’s available by the time it’s done, given that we know it’s coming.

I did it early in the morning.  Checked that the product is still available before proceeding with refreshment.  It worked. But you are right, there is a risk that they might pull it at any time during the day.

liamcov

Bob2000 said:

Kim_13 said:

Bob2000 said:

allegro120 said:

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.

Opened 23rd June £1200 fully funded.

I’d have thought it risky to do at this point - closing requires manual processing on Principality’s end, so Issue 2 might be all that’s available by the time it’s done, given that we know it’s coming.

OK, fair enough. 
Thank you for replying. 

I requested closure earlier today and it was done within 2 hours, so already opened another one. 

Might be too late to do now, so could try Monday morning?

allegro120

WillPS said:

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

My crystal ball told me it's worth doing so I did it.

From memory the process of closing took a couple of hours and opening a new one was quick.  Closed. opened and funded in one day.

Kim_13

allegro120 said:

Kim_13 said:

Bob2000 said:

allegro120 said:

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.

Opened 23rd June £1200 fully funded.

I’d have thought it risky to do at this point - closing requires manual processing on Principality’s end, so Issue 2 might be all that’s available by the time it’s done, given that we know it’s coming.

I did it early in the morning.  Checked that the product is still available before proceeding with refreshment.  It worked. But you are right, there is a risk that they might pull it at any time during the day.

Usually if they are going to pull something and replace it with a new issue, it is done at 8-9am ish after the earlier issue disappears from Moneyfacts at midnight. The question at this point is if Issue 2 does launch on Monday, will a closure be processed to tomorrow to allow a new Issue 1 to be opened in time. If Issue 1 is still on Moneyfacts on Monday, then the risk is less (assuming that they process the closure on the same day.) 

Nick_C

Stargunner said:

received an email from Monmouthshire BS advising that they are reducing the rate on the below from 13th December.

EXCLUSIVE REGULAR SAVER - ISSUE 2

Old Rate (%) 6.00  New Rate (%)  5.65

From the T&cs for this account:-

• If we put the rate down, we’ll let you know as soon as we can - with at least 30 days’ notice."

They are trying to do this with 14 days notice!!

https://web.archive.org/web/20240821170621/https://www.monbs.com/savings/exclusive-regular-saver-issue-2/

And thanks @Bridlington1 for archiving the T&Cs

Note also that you can close the account because the interest rate is being reduced.

Kim_13

Nick_C said:

Stargunner said:

received an email from Monmouthshire BS advising that they are reducing the rate on the below from 13th December.

EXCLUSIVE REGULAR SAVER - ISSUE 2

Old Rate (%) 6.00  New Rate (%)  5.65

From the T&cs for this account:-

• If we put the rate down, we’ll let you know as soon as we can - with at least 30 days’ notice."

They are trying to do this with 14 days notice!!

https://web.archive.org/web/20240821170621/https://www.monbs.com/savings/exclusive-regular-saver-issue-2/

And thanks @Bridlington1 for archiving the T&Cs

Note also that you can close the account because the interest rate is being reduced.

They changed this from 1 October. Had about 3 letters advising of it in early September (not that that left quite 30 days notice to implement the change from 30 days to 14, but anyway.)

LZC

allegro120 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.

Sunday
Aldermore, BoS, Coventry, Gatehouse, Halifax, Lloyds, Melton, Newcastle, Nottingham, Nationwide, Principality, TSB, YBS.
Monday
Co-op, Hanley, Loughborough, Mansfield, MHBS, MonBS, Progressive, Saffron, Skipton, VM, RBS, Natwest.

Thank you, that is incredibly helpful. 

Does anyone know the answer for West Brom and Leeds?

allegro120

LZC said:

allegro120 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.

Sunday
Aldermore, BoS, Coventry, Gatehouse, Halifax, Lloyds, Melton, Newcastle, Nottingham, Nationwide, Principality, TSB, YBS.
Monday
Co-op, Hanley, Loughborough, Mansfield, MHBS, MonBS, Progressive, Saffron, Skipton, VM, RBS, Natwest.

Thank you, that is incredibly helpful. 

Does anyone know the answer for West Brom and Leeds?

Don't know about Leeds, but West Brom is OK for weekends.

PowerSavingMode

allegro120 said:

LZC said:

allegro120 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.

Sunday
Aldermore, BoS, Coventry, Gatehouse, Halifax, Lloyds, Melton, Newcastle, Nottingham, Nationwide, Principality, TSB, YBS.
Monday
Co-op, Hanley, Loughborough, Mansfield, MHBS, MonBS, Progressive, Saffron, Skipton, VM, RBS, Natwest.

Thank you, that is incredibly helpful. 

Does anyone know the answer for West Brom and Leeds?

Don't know about Leeds, but West Brom is OK for weekends.

But I believe that West Brom will only be credited the next working day. Please correct me if I'm wrong.

allegro120

DJDools said:

allegro120 said:

LZC said:

allegro120 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.

Sunday
Aldermore, BoS, Coventry, Gatehouse, Halifax, Lloyds, Melton, Newcastle, Nottingham, Nationwide, Principality, TSB, YBS.
Monday
Co-op, Hanley, Loughborough, Mansfield, MHBS, MonBS, Progressive, Saffron, Skipton, VM, RBS, Natwest.

Thank you, that is incredibly helpful. 

Does anyone know the answer for West Brom and Leeds?

Don't know about Leeds, but West Brom is OK for weekends.

But I believe that West Brom will only be credited the next working day. Please correct me if I'm wrong.

All my deposits (except the first one I made on 27th December) show as 1st of the month.  I'm not entirely sure whether the interest is credited at weekends or not, but the money do arrive at weekends.