Regular Savings Accounts: The Best Currently Available List!

Costabit

That's a lot of work. Thanks as always

Frogletina

kuepper said:

dcs34 said:

kuepper said:

Is the Virgin Money Home Buying Coach a/c at 1.75% open to all inc those not buying a house / wanting  a mortgage or there strings attached to it that are hidden? I don't understand why it's listed as a best buy here but not in the main MSE site regular savings section

Yes, to be safe download the app and apply through there rather than the link on here. There are no T&Cs beyond the normal regular saver requirements, there is no need to keep the app once the account is opened.

One website (MoneyFacts?) seems to have assumed you need to be using the proceeds for a mortgage/deposit, but there is nothing in the T&Cs for this and the account will appear within the normal Virgin savings portfolio. Can only assume MSE don't have it as it's not spotable from the VM website and if they scan through this section they may have come to the wrong impression it's only for those interested in buying a home.

After you sign up does the account show outside the app ie on the Virgin Money site ?

Yes, it does.

You have to select savings, then standard savings.

Yorkshire_Pud

kuepper said:

dcs34 said:

kuepper said:

Is the Virgin Money Home Buying Coach a/c at 1.75% open to all inc those not buying a house / wanting  a mortgage or there strings attached to it that are hidden? I don't understand why it's listed as a best buy here but not in the main MSE site regular savings section

Yes, to be safe download the app and apply through there rather than the link on here. There are no T&Cs beyond the normal regular saver requirements, there is no need to keep the app once the account is opened.

One website (MoneyFacts?) seems to have assumed you need to be using the proceeds for a mortgage/deposit, but there is nothing in the T&Cs for this and the account will appear within the normal Virgin savings portfolio. Can only assume MSE don't have it as it's not spotable from the VM website and if they scan through this section they may have come to the wrong impression it's only for those interested in buying a home.

After you sign up does the account show outside the app ie on the Virgin Money site ?

I just opened the Home Coach account using the VM site, no app involved and it appeared atop my VM RS 14 immediately.

colsten

kuepper said:

dcs34 said:

kuepper said:

Is the Virgin Money Home Buying Coach a/c at 1.75% open to all inc those not buying a house / wanting  a mortgage or there strings attached to it that are hidden? I don't understand why it's listed as a best buy here but not in the main MSE site regular savings section

Yes, to be safe download the app and apply through there rather than the link on here. There are no T&Cs beyond the normal regular saver requirements, there is no need to keep the app once the account is opened.

One website (MoneyFacts?) seems to have assumed you need to be using the proceeds for a mortgage/deposit, but there is nothing in the T&Cs for this and the account will appear within the normal Virgin savings portfolio. Can only assume MSE don't have it as it's not spotable from the VM website and if they scan through this section they may have come to the wrong impression it's only for those interested in buying a home.

After you sign up does the account show outside the app ie on the Virgin Money site ?

Yes, as Frogletina has already said. The account also does not show in the app. The app just sends you off to a website from which you apply. That's the end of the visible connection between the app and the account.

Rich2808

colsten said:

kuepper said:

dcs34 said:

kuepper said:

Is the Virgin Money Home Buying Coach a/c at 1.75% open to all inc those not buying a house / wanting  a mortgage or there strings attached to it that are hidden? I don't understand why it's listed as a best buy here but not in the main MSE site regular savings section

Yes, to be safe download the app and apply through there rather than the link on here. There are no T&Cs beyond the normal regular saver requirements, there is no need to keep the app once the account is opened.

One website (MoneyFacts?) seems to have assumed you need to be using the proceeds for a mortgage/deposit, but there is nothing in the T&Cs for this and the account will appear within the normal Virgin savings portfolio. Can only assume MSE don't have it as it's not spotable from the VM website and if they scan through this section they may have come to the wrong impression it's only for those interested in buying a home.

After you sign up does the account show outside the app ie on the Virgin Money site ?

Yes, as Frogletina has already said. The account also does not show in the app. The app just sends you off to a website from which you apply. That's the end of the visible connection between the app and the account.

A bit like the 1.35% Tipton regular saver - even though that is supposed to be operated via their app (sorry in joke from another thread!).
Also Virgin imply you need to be a user of their homebuyer app to keep the account - so probably best to open it once in a while and click on an article to earn 5 points! Not sure what those points get you - prizes?

SFindlay

I just opened the Home Coach account using the VM site, no app involved and it appeared atop my VM RS 14 immediately.

Its not listed on VM website so how did you manage that? 

Fingerbobs

SFindlay said:

I just opened the Home Coach account using the VM site, no app involved and it appeared atop my VM RS 14 immediately.

Its not listed on VM website so how did you manage that? 

It's not listed, but the summary page, with a link to the application, can be found via your favourite search engine. Alternatively, just use the link posted earlier in this forum.

cricidmuslibale

kaMelo said:

Deleted_User said:

Just putting in my thoughts on the Coventry BS Regular Saver discussion.....
I had Issue 1 (matured in October with expected interest) running along with Issue 2 (and possibly overlapping in time with Issue 3, haven't checked the dates).
I now have Issue 4 running along with Issues 2 and 3.
I think Coventry would have difficulty in enforcing any penalty action in respect of holding more than one RS issue at a time in light of the facts that:-
(a) They accept applications for new RS accounts from holders of live RS accounts of previous issue(s);
(b) At least with regard to Issue 4, their terms and conditions are ambiguous.

The original regular saver terms "you can only hold one regular saver" This makes sense as issue one was the only one there was and you couldn't hold two of them. Issue two had the same terms yet some people opened an issue two whilst holding issue one. In fact as an existing customer you could log in to open one. To my knowledge no one has had an account downgraded because of holding versions one and two of their regular saver at the same time.  
Issue three and four I think tries to clarify by stating "you can only hold one version of a regular saver".
I.E. you can hold multiple regular savers but only one of each version. 
It would have been clearer though if they'd used the word "issue" rather than "version"

I take all that back after reading the full terms which are quite clear, specifically paragraph 1.5
https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=RSD4

1.5 You can only open and be named on one Regular Saver (including any previous or subsequent issues) at any one time.

"1.5 You can only open and be named on one Regular Saver (including any previous or subsequent issues) at any one time."
This condition could easily be interpreted as meaning (a) 'You can't open more than one Regular Saver' with the Coventry at the same time i.e. in practice this would be two or more Regular Savers of the same issue (4 at the moment) being opened simultaneously and (b) you can only have one Regular Saver newly opened in your name (whether opened by you or someone else on your behalf) at any one time. Both (a) and (b) would obviously preclude more than one Regular Saver Issue 4 being opened by you (or someone else on your behalf) at the same time but neither (a) nor (b) would prevent anyone who has previously opened any of Issues 1, 2 and 3 whilst they were available from opening an Issue 4 from now until it is now longer available.

Thus, to me at least, the true meaning of paragraph 1.5 is not at all clear and unambiguous, and therefore seems perfectly reasonable to me (on careful consideration) to consider it entirely within the 'Coventry rules' to open an Issue 4 Regular Saver whilst still holding a previous issue Regular Saver with them.

What is absolutely clear and unambiguous is that with the Coventry you can only hold one Regular Saver of each issue; that is very clearly stated on the summary page for Issue 4 as it has been for all three previous issues!
 

schiff

Coventry - people are divided two ways:
Those who believe that only one RS of all and any issues can be operated at the same time, and act accordingly.
Those who have read the T&Cs but open an RS of each issue with a clear understanding of the possible consequences, but who from experience (their's and others') think it is very unlikely.
That's it really.

cricidmuslibale

Coventry could clear any confusion up once and for all by stating in very plain terms either (a) 'You can only hold one Regular Saver in total at any one time and thus you can't open a new Regular Saver if you already have one from this issue or any previous issues already open.' Or (b) 'You can only hold one Regular Saver from each issue; however opening a Regular Saver from the present issue whilst holding (a) Regular Saver(s) from (a) previous issue(s) is permitted.