Regular Savings Accounts: The Best Currently Available List!

t1redmonkey

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

granta

Co-op Regular Saver

Is it possible to close this account early and then re-open a new one fairly soon after? If so, what is the method? I can't see how to close the account online.

dgpur

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.

s71hj

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 ???

Dizzycap

granta said:

Co-op Regular Saver

Is it possible to close this account early and then re-open a new one fairly soon after? If so, what is the method? I can't see how to close the account online.

You have to close the Co-Op RS by phone. It takes around 3-4 days for the RS to fully close. The capital is moved into your co-op current account on activation of the closure followed by the interest once the RS is fully closed.

You can re-apply for a new reg saver on the same day as you activate the closure of the old,  as it also takes a few days for the new RS to be opened.

Kim_13

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 ???

We would be deemed to have accepted the change having not opted to close our accounts by 1 October when the change they advised of came into effect. There was potentially a complaint in the letter being received inside the 30 days then required to make the change, but I figured it would probably have been 30+ without a poor postal service.

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".