Regular Savings Accounts: The Best Currently Available List!

schiff

The Nottingham is way behind the times. The last time I collected a matured RS, earlier this money, I withdrew the proceeds in cash and dumped the cash next door (very handy!) into my TSB account. My next maturity is not till the end of November when hopefully Fate will have played its hand. If I had a maturity in the next three months I would send them my passbook by post and ask them to pay the proceeds in cash into my TSB account next door, when I could FP it to my main current account. 
As if they would!

Speculator

schiff said:

The Nottingham is way behind the times. The last time I collected a matured RS, earlier this money, I withdrew the proceeds in cash and dumped the cash next door (very handy!) into my TSB account. My next maturity is not till the end of November when hopefully Fate will have played its hand. If I had a maturity in the next three months I would send them my passbook by post and ask them to pay the proceeds in cash into my TSB account next door, when I could FP it to my main current account. 
As if they would!

Even the Chorley are allowing closure by BACS.
Noticed on the Nottingham BS website, it now says "We will send cheques payable to you to your home address or the bank or building society you would like to pay them into if you let us know the details."
I am going to ask if they can pay the cheque directly into my Lloyds bank account. Lloyds Bank is a 1 min walk from the St Albans branch of Nottingham BS

Sussex_Green_Man

Transfer out from Yorkshire BS Regular Saver Issue 2 on maturity.

Mine matured earlier this month and I was intending to open an Issue 3 before they pulled it.  As I'm in isolation, rather than make a trip into the branch to get a cheque, I set up a YBS online account and tried to 'create' an account to transfer the money to my main current account which is with another BS.  However, I can't use the account I have created as the YBS website just says 'Account being set up'.  Does anyone know how long this will take?  I have obviously tried calling them but gave up after waiting 45 mins.  Many thanks.

colsten

Usually overnight.

Although you shouldn't need a separate account to transfer your money out of the YBS RS. Once it matures, it changes to an instant access account, which you then can close. So yours should already be instant access now, as you said it matured earlier this month. The closure dialogue should offer you the option to transfer the balance to any current account. It takes 2 calendar days for the money to arrive in that account. 

JamesRobinson48

Scottish Building Society has today pulled its RS (paying 2.00%).  Oh happy day!

bubieyehyeh

I think I just setup a nominated account in internet banking, and then ask them to pay out to that account when my YBS RS matured. I can't remember if the nominated account had to be a account that had paid into the RS, might have be YBS, or some other instituion,

JamesRobinson48

Mansfield BS has today pulled its RS (paying 2.50%). 

progressive_uk

In a post in February I outlined the changes to the old Stroud & Swindon BS Regular Savings Account. It was announced last week this has gone down to 2.05% amongst other changes.

Interest rate history is now:

2010: 4.5%
June 2013: 3.5%
Sept 2016: 3.1%
Aug 2017: 2.75%
Dec 2017: 3.00%
March 2018: 2.8%
Aug 2019: 2.55%
Feb 2020: 2.20%
Apr 2020: 2.05%

Glad to see that many Coventry products have held up to an extent, though for how long that can continue once it becomes clear how many customers need mortgage holidays remains to be seen. The fact that the "new" Regular Saver is holding at 2.5% is amazing.

apt

Coventry rates only take into account the cut to 0.25%. The 2.5% won't last.

rhodesmjr

Getting in a bit of a muddle about the optimum date to add money to the Coventry BS Regular Saver (2), I think I have re-read the product information too many times for it to make sense.

I opened and funded the first £500 to the account on 3rd March, which means the 'month' (defined on account opening rather than calendar month) will be the 3rd to 2nd each calendar month. I assume my next monthly £500 input should be on 3rd April. Does second line of the following, taken from the product page, suggest actually the next deposit should be made before monthly anniversary date, i.e. 1st/2nd?

"You can pay in at any time, but for it to count towards that month’s allowance it has to arrive before the day of the month you opened your account. We recommend that you make sure all money for the month is paid in a few days before the monthly anniversary date of opening your account at the latest. Any money that arrives after this date will be counted towards your next month’s allowance."