Regular Savings Accounts: The Best Currently Available List!

Bridlington1

Section62 said:

Bridlington1 said:

masonic said:

Coventry Seasonal RS

Might take a punt and wait until New Years Day to open this one, so I can include it in my list to fund on the 1st of each month.

I've taken the half and half approach. I've opened the account today but not funded it, if it goes NLA before 1/1/25 I can fund it when it goes NLA, if it's still available I retain the right to close the account subject to a penalty of 30 days interest on my nil balance and reopen it the same day.

Been a while since I closed a Coventry account - is the process fully automated, or does it involve some manual input at Coventry's end?  Wondering whether closure and reopening on 01/01/2025 will be possible if the latter case applies....

I refreshed their Loyalty RS Issue 2 online earlier this year.

I was able to close the old one and reopen the new one in one sitting without having to log out of online banking, this was at around 10 or 11pm IIRC.

roked

HHUK said:

Coventry Building Society Sunny Day Saver

Surprised and very happy to receive this email today. Only 20 prizes each month: 1 x £500, 5 x £200 and 14 x £50. Good return on my monthly £10 subscription.

You're one of our Sunny Day winners!

Dear Mr XXXX

Congratulations, you’ve won £200 in our Sunny Day Saver prize draw for December!

Congrats to a fellow winner! I only got a lowly £50 today but I am happy with that.

Anyone know if it counts for PSA? I assumed not, as its a prize, just dont understand why they added the bit about tax liabilities in the T&Cs :

The Prize is a cash prize, paid in pounds sterling (£) and is paid tax-free. The Winners will be responsible for any individual tax liabilities

chris_the_bee

roked said:

HHUK said:

Coventry Building Society Sunny Day Saver

Surprised and very happy to receive this email today. Only 20 prizes each month: 1 x £500, 5 x £200 and 14 x £50. Good return on my monthly £10 subscription.

You're one of our Sunny Day winners!

Dear Mr XXXX

Congratulations, you’ve won £200 in our Sunny Day Saver prize draw for December!

Congrats to a fellow winner! I only got a lowly £50 today but I am happy with that.

Anyone know if it counts for PSA? I assumed not, as its a prize, just dont understand why they added the bit about tax liabilities in the T&Cs :

The Prize is a cash prize, paid in pounds sterling (£) and is paid tax-free. The Winners will be responsible for any individual tax liabilities

HMRC will class it as income which is taxable. The Winners will be responsible for any individual tax liabilities

WillPS

chris_the_bee said:

roked said:

HHUK said:

Coventry Building Society Sunny Day Saver

Surprised and very happy to receive this email today. Only 20 prizes each month: 1 x £500, 5 x £200 and 14 x £50. Good return on my monthly £10 subscription.

You're one of our Sunny Day winners!

Dear Mr XXXX

Congratulations, you’ve won £200 in our Sunny Day Saver prize draw for December!

Congrats to a fellow winner! I only got a lowly £50 today but I am happy with that.

Anyone know if it counts for PSA? I assumed not, as its a prize, just dont understand why they added the bit about tax liabilities in the T&Cs :

The Prize is a cash prize, paid in pounds sterling (£) and is paid tax-free. The Winners will be responsible for any individual tax liabilities

HMRC will class it as income which is taxable. The Winners will be responsible for any individual tax liabilities

It's a competition prize. It's not taxable in the UK.

The warning is just boilerplate stuff to disclaim them in case you are subject to other jurisdictions where prizes are treated as income (such as the US).

gt94sss2

t1redmonkey said:

I've been able to open the new Coventry Loyalty RS even though I haven't been a member since 1st January 2024.

I believe Coventry have form in subsequently closing accounts opened to which people are not entitled too.

fonesaver

charlie12525 said:

ThePirates said:

Coventry Loyalty Saver
Opened via the app and funded in 2mins!
Thanks @Bridlington1

Tried to open on the app. I try to enter my UK nationality but it does not let me progress. Will try tomorrow.

Same here...applied online with no problem 

masonic

Bridlington1 said:

masonic said:

Coventry Seasonal RS

Might take a punt and wait until New Years Day to open this one, so I can include it in my list to fund on the 1st of each month.

I've taken the half and half approach. I've opened the account today but not funded it, if it goes NLA before 1/1/25 I can fund it when it goes NLA, if it's still available I retain the right to close the account subject to a penalty of 30 days interest on my nil balance and reopen it the same day.

Great idea. I think I'll follow in your footsteps.

Bigwheels1111

chris_the_bee said:

roked said:

HHUK said:

Coventry Building Society Sunny Day Saver

Surprised and very happy to receive this email today. Only 20 prizes each month: 1 x £500, 5 x £200 and 14 x £50. Good return on my monthly £10 subscription.

You're one of our Sunny Day winners!

Dear Mr XXXX

Congratulations, you’ve won £200 in our Sunny Day Saver prize draw for December!

Congrats to a fellow winner! I only got a lowly £50 today but I am happy with that.

Anyone know if it counts for PSA? I assumed not, as its a prize, just dont understand why they added the bit about tax liabilities in the T&Cs :

The Prize is a cash prize, paid in pounds sterling (£) and is paid tax-free. The Winners will be responsible for any individual tax liabilities

HMRC will class it as income which is taxable. The Winners will be responsible for any individual tax liabilities

Watch out for Nationwide's Bonus £100 early this year.

Plus the £200 account bonus also.

That's £300 I need to declare in April.

Section62

Bridlington1 said:

Section62 said:

Bridlington1 said:

masonic said:

Coventry Seasonal RS

Might take a punt and wait until New Years Day to open this one, so I can include it in my list to fund on the 1st of each month.

I've taken the half and half approach. I've opened the account today but not funded it, if it goes NLA before 1/1/25 I can fund it when it goes NLA, if it's still available I retain the right to close the account subject to a penalty of 30 days interest on my nil balance and reopen it the same day.

Been a while since I closed a Coventry account - is the process fully automated, or does it involve some manual input at Coventry's end?  Wondering whether closure and reopening on 01/01/2025 will be possible if the latter case applies....

I refreshed their Loyalty RS Issue 2 online earlier this year.

I was able to close the old one and reopen the new one in one sitting without having to log out of online banking, this was at around 10 or 11pm IIRC.

Thanks, so hopefully it will work OK on the 1st.

dgpur

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.

I didn’t have that option. The only one open to me was a new 6 month saver, same rate, same £200 pcm. I wonder why.