Regular Savings Accounts: The Best Currently Available List!

Kim_13

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

Bob2000

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. 

allegro120

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 opened mine on 20th June, closed on 7th November, £1200 funded, got £20.51 interest.  That's approximately 4 and half months, so yours should be a little more than this.

Digital_Payback

allegro120 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 opened mine on 20th June, closed on 7th November, £1200 funded, got £20.51 interest.  That's approximately 4 and half months, so yours should be a little more than this.

I did exactly the same, and like you got £20.51 interest. 

I then immediately opened another and began funding it. 

allegro120

Stargunner said:

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

I've done a test withdrawal this morning, it took 6 and half hours to arrive.  It has supposedly been done by Faster Payment.  From memory Gatehouse withdrawals used to be faster than that.  

allegro120

Digital_Payback said:

allegro120 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 opened mine on 20th June, closed on 7th November, £1200 funded, got £20.51 interest.  That's approximately 4 and half months, so yours should be a little more than this.

I did exactly the same, and like you got £20.51 interest. 

I then immediately opened another and began funding it. 

By May 2025 it will probably be the best paying RS . It was also good to push some interest into next tax year.  I've done the same with Skipton Loyalty RS.

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.)