Regular Savings Accounts: The Best Currently Available List!

Stargunner

Bridlington1 said:

GetRichOrDieSaving said:

Stargunner said:

GetRichOrDieSaving said: I’m

Bridlington1 said:

GetRichOrDieSaving said:

For those that don’t have an issue with tax on interest relating to the maturity of the CBS new loyalty RS, is it not beneficial to open on the last day of the month (31st Dec) then fund again on the 1st Jan. Like normal RS practice? 

Apologies if I’m missed something here, there been a lot of content to read. I appreciate the risk in it becoming NLA. 

The account runs on an account month basis though, so if you opened and fully funded it on 31/12/24, you wouldn't be able to make your next deposit till 31/1/25. 

If you open the account on 1st it becomes a de facto calendar month account which is more convenient if like myself you already have several dozen other regular savers that operate on a calendar month basis and you plan to use the maturing funds from this regular saver to fund regular savers in January 2026.

Ok thanks for the explanation, my suggested approach makes no sense then. So I will await the 1st and fund, then fund every month thereafter on the 1st like all my other RS. 

Many thanks & Merry Christmas! 

You could open it now and not fund it until the 1st, and then continue to make a further 11 payments on the 1st of each month.
The difference in the loss of interest from this account  as apposed to the money sitting in an easy access account for around 10 days would only be around a £1 or 2 

Fair point, and I think that’s the gist of the previous comments so apologies for not cottoning on if that’s the case. I’ll open and
fund on the 1st just to be on the safe side. Happy to sacrifice a couple quid return. After all I have about 25+ RS on the go currently, so just a little more managed to my existing portfolio. 

But you don't have to sacrifice a couple of quid return.

The point I'm making is that if you open the account now you secure the account in case it goes NLA quickly. If you don't fund the account now and the account is still available on 1st there is nothing to stop you from closing the account on 1st and immediately reopening it and fully funding it that day at no cost to yourself.

By doing this the term of the account you're actually funding begins on 1/1/25, maturing 12 months from this date.

For the sake of a £1 of 2, some would not bother faffing around opening, closing and re-opening the account, 

GetRichOrDieSaving

Bridlington1 said:

GetRichOrDieSaving said:

Stargunner said:

GetRichOrDieSaving said: I’m

Bridlington1 said:

GetRichOrDieSaving said:

For those that don’t have an issue with tax on interest relating to the maturity of the CBS new loyalty RS, is it not beneficial to open on the last day of the month (31st Dec) then fund again on the 1st Jan. Like normal RS practice? 

Apologies if I’m missed something here, there been a lot of content to read. I appreciate the risk in it becoming NLA. 

The account runs on an account month basis though, so if you opened and fully funded it on 31/12/24, you wouldn't be able to make your next deposit till 31/1/25. 

If you open the account on 1st it becomes a de facto calendar month account which is more convenient if like myself you already have several dozen other regular savers that operate on a calendar month basis and you plan to use the maturing funds from this regular saver to fund regular savers in January 2026.

Ok thanks for the explanation, my suggested approach makes no sense then. So I will await the 1st and fund, then fund every month thereafter on the 1st like all my other RS. 

Many thanks & Merry Christmas! 

You could open it now and not fund it until the 1st, and then continue to make a further 11 payments on the 1st of each month.
The difference in the loss of interest from this account  as apposed to the money sitting in an easy access account for around 10 days would only be around a £1 or 2 

Fair point, and I think that’s the gist of the previous comments so apologies for not cottoning on if that’s the case. I’ll open and
fund on the 1st just to be on the safe side. Happy to sacrifice a couple quid return. After all I have about 25+ RS on the go currently, so just a little more managed to my existing portfolio. 

But you don't have to sacrifice a couple of quid return.

The point I'm making is that if you open the account now you secure the account in case it goes NLA quickly. If you don't fund the account now and the account is still available on 1st there is nothing to stop you from closing the account on 1st and immediately reopening it and fully funding it that day at no cost to yourself.

By doing this the term of the account you're actually funding begins on 1/1/25, maturing 12 months from this date.

Understood, but a lot to ask on the day after NYE for myself mind ha!

[Deleted User]

Reading through the posts, I opened and funded the new Coventry seasonal saver today.

Can I put another £250 in early Jan or do I need to wait till the 20th? 

Its no issue, I fund the highest payers first so its down the list but just wondered.

Bridlington1

[Deleted User] said:

Reading through the posts, I opened and funded the new Coventry seasonal saver today.

Can I put another £250 in early Jan or do I need to wait till the 20th? 

Its no issue, I fund the highest payers first so its down the list but just wondered.

The account runs on an account month basis, if you opened and fully funded it on 20/12/24 you'd need to wait till 20/1/25 before funding it again.

simonsmithsays

simonsmithsays said:

simonsmithsays said:

allegro120 said:

flaneurs_lobster said:

allegro120 said:

I am tempted to leave it as is and see if I can get away with two Christmas 2025s.  Or the other option is to call Principality and tell them I've made a mistake.  Any thoughts?

I'd let it ride, unless I needed that £125 elsewhere.

How far out from maturity are you? I've got an RS maturing on 20/12, might see if they offer me double-dibs on the Xmas 25 too.

Mine matures on 21/12. Letter arrived yesterday (7/12) and dated 5/12 so in theory you should have received this letter already, but if not you can probably see your maturity options online now.

I have enough money in my EA pot to fund all my RSs so this £125 would just sit in Cahoot's 5.12% on 1st January.  I think it is worth trying to get two Xmas25 running, can't think of any downsides, in worst case scenario they will return £125 with a couple of day's delay.

I bet I'm not alone in having both the six months rs and maturity winter rs both maturing in the next two weeks.

Both theoretically give me the option to open the new Christmas 25 one too (which I've already opened).

Principality BS

 Six month RS matured into (another) Christmas 25 with £125 in it

Let's see what tomorrow brings when my Maturity Winter also matures.

As suspected the Maturity Winter is now also a funded Christmas 25.

That's three in total.

flaneurs_lobster

simonsmithsays said:

simonsmithsays said:

simonsmithsays said:

allegro120 said:

flaneurs_lobster said:

allegro120 said:

I am tempted to leave it as is and see if I can get away with two Christmas 2025s.  Or the other option is to call Principality and tell them I've made a mistake.  Any thoughts?

I'd let it ride, unless I needed that £125 elsewhere.

How far out from maturity are you? I've got an RS maturing on 20/12, might see if they offer me double-dibs on the Xmas 25 too.

Mine matures on 21/12. Letter arrived yesterday (7/12) and dated 5/12 so in theory you should have received this letter already, but if not you can probably see your maturity options online now.

I have enough money in my EA pot to fund all my RSs so this £125 would just sit in Cahoot's 5.12% on 1st January.  I think it is worth trying to get two Xmas25 running, can't think of any downsides, in worst case scenario they will return £125 with a couple of day's delay.

I bet I'm not alone in having both the six months rs and maturity winter rs both maturing in the next two weeks.

Both theoretically give me the option to open the new Christmas 25 one too (which I've already opened).

Principality BS

 Six month RS matured into (another) Christmas 25 with £125 in it

Let's see what tomorrow brings when my Maturity Winter also matures.

As suspected the Maturity Winter is now also a funded Christmas 25.

That's three in total.

Well, my 1 yr RS Bond 22 has morphed into a funded (second) 6mth RS 2. Quite what has happened to the residual + interest I'm not entirely sure yet....

simonsmithsays

flaneurs_lobster said:

simonsmithsays said:

simonsmithsays said:

simonsmithsays said:

allegro120 said:

flaneurs_lobster said:

allegro120 said:

I am tempted to leave it as is and see if I can get away with two Christmas 2025s.  Or the other option is to call Principality and tell them I've made a mistake.  Any thoughts?

I'd let it ride, unless I needed that £125 elsewhere.

How far out from maturity are you? I've got an RS maturing on 20/12, might see if they offer me double-dibs on the Xmas 25 too.

Mine matures on 21/12. Letter arrived yesterday (7/12) and dated 5/12 so in theory you should have received this letter already, but if not you can probably see your maturity options online now.

I have enough money in my EA pot to fund all my RSs so this £125 would just sit in Cahoot's 5.12% on 1st January.  I think it is worth trying to get two Xmas25 running, can't think of any downsides, in worst case scenario they will return £125 with a couple of day's delay.

I bet I'm not alone in having both the six months rs and maturity winter rs both maturing in the next two weeks.

Both theoretically give me the option to open the new Christmas 25 one too (which I've already opened).

Principality BS

 Six month RS matured into (another) Christmas 25 with £125 in it

Let's see what tomorrow brings when my Maturity Winter also matures.

As suspected the Maturity Winter is now also a funded Christmas 25.

That's three in total.

Well, my 1 yr RS Bond 22 has morphed into a funded (second) 6mth RS 2. Quite what has happened to the residual + interest I'm not entirely sure yet....

If it's like my matured Principality then give it a couple of hours and it'll be in your CA (assume it'll get paid the same on a non working day)

ForumUser7

simonsmithsays said:

flaneurs_lobster said:

simonsmithsays said:

simonsmithsays said:

simonsmithsays said:

allegro120 said:

flaneurs_lobster said:

allegro120 said:

I am tempted to leave it as is and see if I can get away with two Christmas 2025s.  Or the other option is to call Principality and tell them I've made a mistake.  Any thoughts?

I'd let it ride, unless I needed that £125 elsewhere.

How far out from maturity are you? I've got an RS maturing on 20/12, might see if they offer me double-dibs on the Xmas 25 too.

Mine matures on 21/12. Letter arrived yesterday (7/12) and dated 5/12 so in theory you should have received this letter already, but if not you can probably see your maturity options online now.

I have enough money in my EA pot to fund all my RSs so this £125 would just sit in Cahoot's 5.12% on 1st January.  I think it is worth trying to get two Xmas25 running, can't think of any downsides, in worst case scenario they will return £125 with a couple of day's delay.

I bet I'm not alone in having both the six months rs and maturity winter rs both maturing in the next two weeks.

Both theoretically give me the option to open the new Christmas 25 one too (which I've already opened).

Principality BS

 Six month RS matured into (another) Christmas 25 with £125 in it

Let's see what tomorrow brings when my Maturity Winter also matures.

As suspected the Maturity Winter is now also a funded Christmas 25.

That's three in total.

Well, my 1 yr RS Bond 22 has morphed into a funded (second) 6mth RS 2. Quite what has happened to the residual + interest I'm not entirely sure yet....

If it's like my matured Principality then give it a couple of hours and it'll be in your CA (assume it'll get paid the same on a non working day)

As in they close the duplicate accounts and send funds to the NBA automatically?

Bridlington1

ForumUser7 said:

simonsmithsays said:

flaneurs_lobster said:

simonsmithsays said:

simonsmithsays said:

simonsmithsays said:

allegro120 said:

flaneurs_lobster said:

allegro120 said:

I am tempted to leave it as is and see if I can get away with two Christmas 2025s.  Or the other option is to call Principality and tell them I've made a mistake.  Any thoughts?

I'd let it ride, unless I needed that £125 elsewhere.

How far out from maturity are you? I've got an RS maturing on 20/12, might see if they offer me double-dibs on the Xmas 25 too.

Mine matures on 21/12. Letter arrived yesterday (7/12) and dated 5/12 so in theory you should have received this letter already, but if not you can probably see your maturity options online now.

I have enough money in my EA pot to fund all my RSs so this £125 would just sit in Cahoot's 5.12% on 1st January.  I think it is worth trying to get two Xmas25 running, can't think of any downsides, in worst case scenario they will return £125 with a couple of day's delay.

I bet I'm not alone in having both the six months rs and maturity winter rs both maturing in the next two weeks.

Both theoretically give me the option to open the new Christmas 25 one too (which I've already opened).

Principality BS

 Six month RS matured into (another) Christmas 25 with £125 in it

Let's see what tomorrow brings when my Maturity Winter also matures.

As suspected the Maturity Winter is now also a funded Christmas 25.

That's three in total.

Well, my 1 yr RS Bond 22 has morphed into a funded (second) 6mth RS 2. Quite what has happened to the residual + interest I'm not entirely sure yet....

If it's like my matured Principality then give it a couple of hours and it'll be in your CA (assume it'll get paid the same on a non working day)

As in they close the duplicate accounts and send funds to the NBA automatically?

I interpreted it as the old RS was converted into a second 6 Month RS with £200 carried over into the new account and the remaining balance would be sent to the nominated bank account.

Stargunner

Bridlington1 said:

ForumUser7 said:

simonsmithsays said:

flaneurs_lobster said:

simonsmithsays said:

simonsmithsays said:

simonsmithsays said:

allegro120 said:

flaneurs_lobster said:

allegro120 said:

I am tempted to leave it as is and see if I can get away with two Christmas 2025s.  Or the other option is to call Principality and tell them I've made a mistake.  Any thoughts?

I'd let it ride, unless I needed that £125 elsewhere.

How far out from maturity are you? I've got an RS maturing on 20/12, might see if they offer me double-dibs on the Xmas 25 too.

Mine matures on 21/12. Letter arrived yesterday (7/12) and dated 5/12 so in theory you should have received this letter already, but if not you can probably see your maturity options online now.

I have enough money in my EA pot to fund all my RSs so this £125 would just sit in Cahoot's 5.12% on 1st January.  I think it is worth trying to get two Xmas25 running, can't think of any downsides, in worst case scenario they will return £125 with a couple of day's delay.

I bet I'm not alone in having both the six months rs and maturity winter rs both maturing in the next two weeks.

Both theoretically give me the option to open the new Christmas 25 one too (which I've already opened).

Principality BS

 Six month RS matured into (another) Christmas 25 with £125 in it

Let's see what tomorrow brings when my Maturity Winter also matures.

As suspected the Maturity Winter is now also a funded Christmas 25.

That's three in total.

Well, my 1 yr RS Bond 22 has morphed into a funded (second) 6mth RS 2. Quite what has happened to the residual + interest I'm not entirely sure yet....

If it's like my matured Principality then give it a couple of hours and it'll be in your CA (assume it'll get paid the same on a non working day)

As in they close the duplicate accounts and send funds to the NBA automatically?

I interpreted it as the old RS was converted into a second 6 Month RS with £200 carried over into the new account and the remaining balance would be sent to the nominated bank account.

That is exactly what they did with mine, and they also did it with a Christmas saver, so I now have 2 x 6 month RS and Christmas savers