Regular Savings Accounts: The Best Currently Available List!

Stargunner

s71hj said:

Kim_13 said:

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.)

But they're in a contract with us that says 30 days ???

Don’t worry! That reduction of interest for 16 days will only reduce your overall interest by less than £1.

NorwichMan

I opened a Principality Christmas 2025 RS last night, tried to fund it but COP not working with the account number/reference I was given. Tried again this morning but get the same message. I am tempted to go ahead anyway because if possible I would like to make a November payment today and December payment tomorrow.

Is it normal for COP to take a while to start working especially over a weekend? Should be low risk to ignore the warning if I'm sure about the details? Will a payment made today (Saturday 30 November) get credited as a November payment?

jaypers

NorwichMan said:

I opened a Principality Christmas 2025 RS last night, tried to fund it but COP not working with the account number/reference I was given. Tried again this morning but get the same message. I am tempted to go ahead anyway because if possible I would like to make a November payment today and December payment tomorrow.

Is it normal for COP to take a while to start working especially over a weekend? Should be low risk to ignore the warning if I'm sure about the details? Will a payment made today (Saturday 30 November) get credited as a November payment?

It does take 24 hours with Principality and that may only apply to working days. You can do multiple payments so maybe do £1 and then once you’re happy do the rest with your saved (and validated) saved payment details? 

flaneurs_lobster

dgpur said:

t1redmonkey said:

I'm curious how long this maturity account Gatehouse have moved us into will remain at 5% for.

It’s such a better (and a market leading) account than expected, so I’m just happy to have it. I’d say we must surely be in for at least 6 months, but I wouldn’t like to predict longer.

They could reduce that rate to 1%, with no notice, tomorrow. 

Is it not rather anomalous to have had funds moved to an account for which the Terms & Conditions are not available?

Imagine the responses on here if someone had posted "I've moved £3600 to an Easy Access Account but I have no idea what the T&C say".

allegro120

NorwichMan said:

I opened a Principality Christmas 2025 RS last night, tried to fund it but COP not working with the account number/reference I was given. Tried again this morning but get the same message. I am tempted to go ahead anyway because if possible I would like to make a November payment today and December payment tomorrow.

Is it normal for COP to take a while to start working especially over a weekend? Should be low risk to ignore the warning if I'm sure about the details? Will a payment made today (Saturday 30 November) get credited as a November payment?

It can take up to 24 hours for CoP to work. Not sure if weekends make any difference.

Principality credit payments on the day of arrival, including weekends. I would just go ahead if I want first payment to be credited this month.  I'd do it in the morning to avoid any possible cut off times. There is no risk, providing you use correct details.  That's what we used to do before CoP was invented. 

allegro120

jaypers said:

NorwichMan said:

I opened a Principality Christmas 2025 RS last night, tried to fund it but COP not working with the account number/reference I was given. Tried again this morning but get the same message. I am tempted to go ahead anyway because if possible I would like to make a November payment today and December payment tomorrow.

Is it normal for COP to take a while to start working especially over a weekend? Should be low risk to ignore the warning if I'm sure about the details? Will a payment made today (Saturday 30 November) get credited as a November payment?

It does take 24 hours with Principality and that may only apply to working days. You can do multiple payments so maybe do £1 and then once you’re happy do the rest with your saved (and validated) saved payment details? 

Payment to a new payee followed by another payment on the same day is likely to trigger blocked payment and up to 1 hour of phone conversation with "fraud department".  Happened to me many times so I've stopped doing this.

NorwichMan

Thanks everyone, I went ahead and made a payment for the maximum monthly amount £125. It's not showing in my Principality account yet (almost 2 hours later) but I expect it will soon. Planning to repeat with December's payment tomorrow.

Edit - success, payment showing as credited about 3 hours after I made the transaction

Bridlington1

Just a reminder that the following interest rate reductions come into effect tomorrow:

Account	Old rate	New rate
Buckinghamshire BS Regular Saver	3.75%	3.40%
Buckinghamshire BS Regular Saver Locals	4.15%	3.80%
Hanley Economic Branch Regular Saver	2.20%	2.10%
Hanley Economic Online Regular Saver	5.50%	5.00%
Hanley Economic Regular Saver	2.25%	2.00%
Stafford Railway BS Regular Saver	5.15%	4.90%
Vernon Online Regular Saver	6.50%	NO CHANGE

jd84

Kim_13 said:

Mee said:

I note Kim_13 mentioned  'interest payment date (tax)'  above. Has anyone done a comprehensive list of RS and/or other accounts and their interest payment dates?

Those that don’t pay on anniversary or maturity are the exception. From the top of my head:

NatWest/RBS - Monthly, first working day

Stafford - 31 October
Melton - 31 March
Hinckley and Rugby - 1 December
Hanley Economic - 31 August

Vernon is annually but at the end of the month the account was opened.

Virgin is the last working day in March, June, September, and December.

Nick_C

I don't recall being anything from Monmouthshire about the 30 days being reduced to 14.

Is it still possible to close the account because of the drop in interest rate? 

And I have a note in my spreadsheet that I could withdraw some of the money if the interest rates falls?   Is this correct? And can I withdraw to £1 or is it the £50 minimum that was needed to open the account?