Regular Savings Accounts: The Best Currently Available List!

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? 

Bobblehat

flaneurs_lobster said:

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".

Indeed! And, I still haven't had an email with the T&C's as CS promised ... which is worrying. Maybe not just a 404 error in their email link? At the moment all I have to go on is a verbal statement that the T&C's for the ERG EA are like the existing EA.

Kim_13

Nick_C said:

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? 

£50 minimum to open the account, this was another worsened feature compared to Issue 1 which could be opened with £1. There was some discussion at launch that it should be possible to withdraw without closing in the event of a rate drop; early closure was always in the terms whether or not the rate fell.

The notice for 30 days to 14 was in the text of their rate reduction letters - it would have been easy for forumites to miss having already been aware of forthcoming rate reductions before the letters dropped through the letterbox. The fact that they had sent letters to people in respect of accounts that either had matured or would mature before the rate reduction took effect got more attention. Since Monmouthshire could have met their obligations by sending the rate reduction notice by email as they have this time around, I figured that it was the change to the notice period which meant they sent it by post on that occasion.

Stargunner

JamesRobinson48 said:

I feel the Monmouthshire BS is slipping up with RS products, as they have sometimes done in the past.

I applied online for their current RS Issue 5 (4.15%), for reasons that I won't go into, and they say they never received my application. Likewise my subsequent second and third online applications.  Their system seems at fault, but they did not seem bothered, and I assume (given their current savings interest rates) that they don't wish to attract more funding at present.

You should be congratulating them for not opening a RS for you at such a low interest rate.

allegro120

Nick_C said:

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? 

Is it about MonBS Exclusive RS issue 2? Quote from t&c - 

"Can I withdraw money? No, you cannot withdraw money from this account for a 12 month term. You should not invest into this account if you think you will need access to your savings."