Regular Savings Accounts: The Best Currently Available List!

Nick_C

SuperHans1 said:

With an HSBC current account I can set up faster payments up to twelve months in advance. When I open a new regular saver this enables me to set up payments for the 1st of the month (including weekends or bank holidays) for the entire year. Other current accounts such as Lloyds are very restrictive with the payments that you can set up. Do people use any other current accounts aside from HSBC/First Direct with this flexibility?

Tesco allow you to set up multiple future faster payments to the same payee, including from their savings accounts.  However, they are no longer opening new current accounts and new savings account are not worth having.

bubieyehyeh

I started using my virgin current account for some of my RS standing orders.  However virgin seem to have soem odd behaviour, since I would have expected them to be processes on next banking date (4th).

Instead virgin removed the standing order from my balance on the 31st Dec, and are still showing a pending, but no money as arrived at destination accounts, I assume they will credit the accounts tomorrow the first banking date.

What I not happy about is virgin removing the money from my account the day before the standing order is due. I'm not sure if I've lost 4 days interest on the money.

RG2015

bubieyehyeh said:

I started using my virgin current account for some of my RS standing orders.  However virgin seem to have soem odd behaviour, since I would have expected them to be processes on next banking date (4th).

Instead virgin removed the standing order from my balance on the 31st Dec, and are still showing a pending, but no money as arrived at destination accounts, I assume they will credit the accounts tomorrow the first banking date.

What I not happy about is virgin removing the money from my account the day before the standing order is due. I'm not sure if I've lost 4 days interest on the money.

They have done this  on my account. But they will change the date on the transaction to tomorrow (4th Jan) and the interest will be up to today (3rd Jan).

I keep £1,000 in the account and always get the correct interest but I agree that their processes are odd.

bubieyehyeh

RG2015 said:

bubieyehyeh said:

I started using my virgin current account for some of my RS standing orders.  However virgin seem to have soem odd behaviour, since I would have expected them to be processes on next banking date (4th).

Instead virgin removed the standing order from my balance on the 31st Dec, and are still showing a pending, but no money as arrived at destination accounts, I assume they will credit the accounts tomorrow the first banking date.

What I not happy about is virgin removing the money from my account the day before the standing order is due. I'm not sure if I've lost 4 days interest on the money.

They have done this  on my account. But they will change the date on the transaction to tomorrow (4th Jan) and the interest will be up to today (3rd Jan).

I keep £1,000 in the account and always get the correct interest but I agree that their processes are odd.

Ok good to know, I topped the account back upto £1000 on the 1st, seems I could have left it to tomorrow as I originally intended. Indeed it is odd and confusing.

Descrabled

Yorkshire Penny Bank have always done this with both DD and SO. This is to reserve the cash over the weekend.

It is most obvious over bank holidays when a payment is delayed to the next working day. YB app shows a clock against such payments.

schiff

From time to time I have problems with Lloyds. With them I have six RSs on my SO list for the first of the month and as expected these have been operated on the first working day of the month. Up to y/day they were showing as to be 'taken' on Jan 1st, unlike for instance Santander, who showed Jan 4th for my RSs with them.
My SO from Santander to cover the RSs at Lloyds is in my Lloyds account so there's more than enough, but they haven't up to now operated the standing orders! It only happens with Lloyds! It's disruptive.
I don't operate the day before deposit way as I find it's not necessary - except from time to time with Lloyds!

Eco_Miser

Descrabled said:

Yorkshire Penny Bank have always done this with both DD and SO. This is to reserve the cash over the weekend.

It is most obvious over bank holidays when a payment is delayed to the next working day. YB app shows a clock against such payments.

Another old time YB customer!

I think they had dropped the Penny before Direct Debits had been invented, and certainly before there was any way to tell what the balance was over a weekend or bank holiday.

eskbanker

Eco_Miser said:

I think they had dropped the Penny before Direct Debits had been invented

Wikipedia backs you up there, 1959 and 1964 respectively!

Descrabled

Yorkshire Penny Bank; used to avoid confusion with YBS.

I can confirm I had a savings account in my teens at YPB.  I opened a current account at the Midland Bank, over t'road, on going to university.  I still have this account although the 4 digit account number, "abcd", latter became "wxyzabcd" but retains the original sort-code.

I worked in Scotland during one summer and Midland had no branches in Scotland. So an arrangement to cash cheques was set up with, interestingly, Clydesdale Bank near where I was working. No debit cards or ATMs in them days.

trickydicky14

I think Scottish B.S regular saver 1.35% has been withdrawn.
Just tried the MSE link to find it has gone!
Please correct me if I am wrong.