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Regular Savings Accounts: The Best Currently Available List!
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allegro120 said:Melton BSI deposited to Melton RS yesterday (Sunday 1st Dec). The money is credited and dated 2nd December. For some reason it was marked in my spreadsheet as 'weekend friendly', but now thinking that this info could be wrong and this account doesn't pay interest on weekend deposits. Does anyone know the correct answer? I couldn't find it in t&c.
Perhaps their interest calculation is based on posted date instead (opposite of LBG).1 -
Stargunner said:Mr._H_2 said:HSBC Regular Saver
Anyone here have an HSBC regular saver? Do you know if I can cancel the auto-created standing order from my HSBC current account, and then fund the regular saver from an external account instead?3 -
Mr._H_2 said:pecunianonolet said:Mr._H_2 said:HSBC Regular Saver
Anyone here have an HSBC regular saver? Do you know if I can cancel the auto-created standing order from my HSBC current account, and then fund the regular saver from an external account instead?3 -
qbadger said:allegro120 said:
Melton BS
I deposited to Melton RS yesterday (Sunday 1st Dec). The money is credited and dated 2nd December. For some reason it was marked in my spreadsheet as 'weekend friendly', but now thinking that this info could be wrong and this account doesn't pay interest on weekend deposits. Does anyone know the correct answer? I couldn't find it in t&c.My deposit from yesterday is also dated today, but in the statement description it says: "Posted: 01/12/2024".
T&Cs indicate as such.
18. Interest accrues on any sums you have saved (with the exception of offset accounts) from the actual date of deposit.
31. For payments received by the Society on a non-working day, these will show on your account the next working day and be backdated to the date received by the Society
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janusdesign said:[Deleted User] said:Made a boo boo and paid an extra £200 to the Principality reg saver, the one with a limit of £1200.
I've just rang them and they did confirm that there is going to be a similar saver about to open.
Rather strangely my £200 is going to be held in the existing account until I give my maturity instructions and won't be returned.
Totally my fault but hoped it would be returned.
following your post, i've just checked the account and the balance is showing as £3,250 - it matures on the 22nd, so I won't bother chasing this overpayment, i'll just see what happens at maturity (but check its balance periodically until then!)0 -
[Deleted User] said:janusdesign said:[Deleted User] said:Made a boo boo and paid an extra £200 to the Principality reg saver, the one with a limit of £1200.
I've just rang them and they did confirm that there is going to be a similar saver about to open.
Rather strangely my £200 is going to be held in the existing account until I give my maturity instructions and won't be returned.
Totally my fault but hoped it would be returned.
following your post, i've just checked the account and the balance is showing as £3,250 - it matures on the 22nd, so I won't bother chasing this overpayment, i'll just see what happens at maturity (but check its balance periodically until then!)0 -
Regarding the discussion about HSBC Regular Saver I guess the below sentence from their T&Cs is therefore not policed/enforced? (boldings mine)After the first payment into the account, you must make 11 more payments on the same date each month by standing order from a qualifying current account.
If not then manually doing an internal transfer on 1st of each month (or changing the date of the existing SO to be the 1st) would be a bit more beneficial as we all know. (account opened on the 20th of the month)
First Direct's Regular Saver T&Cs are very similar but I guess those are policed/enforced?
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GetRichOrDieSaving said:I currently have a Current Account with Nationwide and hold a Flex RS. However I’m switching to Lloyds this week, will the Flex RS be closed or will it remain open? I have a credit card with them so will still hold an account and have access to the app.1
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Chaykin said:Regarding the discussion about HSBC Regular Saver I guess the below sentence from their T&Cs is therefore not policed/enforced? (boldings mine)After the first payment into the account, you must make 11 more payments on the same date each month by standing order from a qualifying current account.
If not then manually doing an internal transfer on 1st of each month (or changing the date of the existing SO to be the 1st) would be a bit more beneficial as we all know. (account opened on the 20th of the month)
First Direct's Regular Saver T&Cs are very similar but I guess those are policed/enforced?
Although HSBC own First Direct, set up by the old Midland Bank, they used different computer systems. We at the bank (ex-employee) couldn't see First Direct accounts; no link or access at all. Therefore it is entirely possible that First Direct has newer systems can and do pick up and enforce that the compulsory standing order isn't being used for deposits to the reg saver. HSBC systems may not have evolved over the years to do the same.
I had to cancel the HSBC auto-generated standing order, as I wanted to change the date of deposit to 1st monthly. Nobody moaned or wrote about the cancelled S/O. I later set up a new S/O for my chosen date, not missing a calendar month in between. Since then I have only ever reduced the monthly amount, keeping a minimum £25 S/O going. Topping up I have done mid-month or a couple of months later by internal transfer from either current account or instant access savings account; both worked. I've never sent a manual payment from an external source.7 -
SavingsBoo said:GetRichOrDieSaving said:I currently have a Current Account with Nationwide and hold a Flex RS. However I’m switching to Lloyds this week, will the Flex RS be closed or will it remain open? I have a credit card with them so will still hold an account and have access to the app.0
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