Regular Savings Accounts: The Best Currently Available List!

pafpcg

Ashen said:

For those who opened a Saffron Regular Saver recently - did you get a separate new login? It mentioned about appearing online, but it isn't in my existing account and I received a temporary password by letter.

My partner and I both opened and funded new "Issue 8" accounts in early December.  We received letters giving the account details and quoting our User ID numbers but these were our pre-existing ID numbers.  When we look at our online accounts, the new regular savers appear along with our Online eSaver account and the closed regular saver accounts from previous years.

RG2015

Virgin Money have launched issue 20 of their regular e-saver. As per recent issues it is 1.00% pa and matures on 20/01/2022.

Special_Saver2

Hi Folks,

Here is this weekend's update to this thread.

- Virgin Money Regular E-Saver issue 19 replaced with issue 20 with same details as before except that the maturity date for issue 20 is 20th January 2022 - Principality BS Thank You Saver entry updated - now available online but also now restricted to locals

I will do the next update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

colsten

I have two regular savers mature today - on at Coventry and one at Virgin. 

I can request closure of the Coventry one tomorrow as they only allow this on working days, and then it takes another working day for my money to arrive in my linked account. 

The money from my Virgin RS has been in my linked account for the last two hours.

Nothing serious, just needs to be taken into consideration when planning the onward use of the money.

typistretired

Has anyone else had a Halifax Regular Saver mature this weekend.  My maturity savings have moved to an Instant Saver but the matured Regular Saver is still open not allowing me to open another Regular Saver.  My other half has the same problem.  I spoke to an advisor via the app message centre but they say it is glitch and to wait a few days so not really helpful as I feel they should have reported to their IT Department

YorkshireBoy

typistretired said:

Has anyone else had a Halifax Regular Saver mature this weekend.  My maturity savings have moved to an Instant Saver but the matured Regular Saver is still open not allowing me to open another Regular Saver.  My other half has the same problem.  I spoke to an advisor via the app message centre but they say it is glitch and to wait a few days so not really helpful as I feel they should have reported to their IT Department

It simply rolls over now (like Santander's regular saver), so just fund the 'old' regular saver.

I'd log a complaint so the person saying it was a "glitch" can be re-trained.

typistretired

Thank you for your quick reply.  I thought that was the reason as it is showing as 1%.  I have somehow mislaid the maturity letter, not like me.  I paid in money this month to the matured regular saver so will have to wait until January.  Halifax have stopped being able to pay funds in maturing regular saver and new regular saver in same month.

MDMD

typistretired said:

Thank you for your quick reply.  I thought that was the reason as it is showing as 1%.  I have somehow mislaid the maturity letter, not like me.  I paid in money this month to the matured regular saver so will have to wait until January.  Halifax have stopped being able to pay funds in maturing regular saver and new regular saver in same month.

This is the anomaly compared to all the other LBG Regular Savers. I believe there is a workaround but it requires you to close the everyday saver (or whatever it is called) which Halifax open at the same time as the RS. This needs to be done before maturity, and per the Terms they will then convert your RS into a new Everyday Saver. You can then open a new RS, which should permit you to pay into the new RS in the same month (as you are paying into two different regular savers, but you don’t pay into any individual RS more than once a month, and you don’t have more than one open at once). They will keep any Halifax Standing Orders going into the Everyday Saver (the one that was the old RS) but you can cancel these and should then close the Everyday saver account.

https://www.halifax.co.uk/assets/pdf/savings/pdf/savings-account-conditions.pdf (page 8)

• We’ll transfer your savings and interest to your Everyday Saver or (if you opened your account before 20th May 2019 the account you chose). This will happen each year on the day after the anniversary of your Regular Saver account opening. (See Section M

for more detail on what happens if that anniversary is a non-working day.) Your monthly payments into your Regular Saver account will continue, and will earn interest at the Regular Saver rate that applies at the time.

• If you don’t have an account for us to transfer your savings and interest into, for example because you’ve closed the account the interest should have been paid to you chose originally, your savings will stay in your Regular Saver account and we’ll change that account to an Everyday Saver. Your regular payments will continue. We’ll write and

let you know, and if you keep your savings in your Everyday Saver account we’ll regard you as having agreed to the new account conditions.

polymaff

MDMD said:

This is the anomaly compared to all the other LBG Regular Savers.

Over recent years, I've lobbied Halifax, Santander and HSBC to introduce the option of an auto-rollover mode. Only Santander understood the benefit it would deliver to both parties.  Halifax was (not invented here)  luke-warm, HSBC - glass-eyed. 

As you'd expect.

As regards LBG - just another example of how un-integrated NBG still is. ...

MDMD

polymaff said:

MDMD said:

This is the anomaly compared to all the other LBG Regular Savers.

Over recent years, I've lobbied Halifax, Santander and HSBC to introduce the option of an auto-rollover mode. Only Santander understood the benefit it would deliver to both parties.  Halifax was (not invented here)  luke-warm, HSBC - glass-eyed. 

As you'd expect.

As regards LBG - just another example of how un-integrated NBG still is. ...

My preference is for them to be closed rather than rolled over (unless it gives a benefit of a higher interest rate). 

An auto rollover will mean that you can’t take advantage of making a 13th payment and maximise interest by effectively doubling your permitted first payment if you open the account right at the end of a month (as the account will have already had a payment that month).