Regular Savings Accounts: The Best Currently Available List!

typistretired

YBS Regular Saver showing in App as opened yesterday with cheque deposit

mhoc

Frogletina said:

m&s have had no regular savers on offer since November

In view of the YBS requirement for a demonstrations of loyalty I am pondering if it might be a good idea to open a M&S everyday savings account with £1 - my M&S regular saver matures in April and as you say there is nothing to replace it. Might this at least "hold my place" if they revive the regular saver at some point? 

where_are_we

M&S Monthly Saver - old conditions were a cass switch, current account and 2 DD`S. Yes - good advice to keep current account and 2DD`s ticking over until hopefully a reincarnation of the MS.

retiree

colsten said:

Newly_retired said:

I have just received my application form through the post from YBS local branch. Given that we are near the end of the month, I presume returning it today together with a cheque for £500 is the best way to be sure it will be open this month? (Normally I would open it with less, and transfer the rest online. ) Being a 28 day month it is cutting it fine.

It will depend on

1. when your application gets processed
2. whether YBS credit your account on the day they process your application or when the cheque has cleared. If the latter, it's not going to happen in February, so let's hope it is the former, and that they process your application this week.

EDIT: My cheque shows as credited on Feb 24,  the day they opened  my account. As of yet, there is no sign of it in my current account but that doesn‘t matter now. Next deposit on March 1 🥳

Other than advancing the eventual maturity date, I cannot see any advantage in rushing to get it open this month. Am I missing something?

glider3560

retiree said:

colsten said:

Newly_retired said:

I have just received my application form through the post from YBS local branch. Given that we are near the end of the month, I presume returning it today together with a cheque for £500 is the best way to be sure it will be open this month? (Normally I would open it with less, and transfer the rest online. ) Being a 28 day month it is cutting it fine.

It will depend on

1. when your application gets processed
2. whether YBS credit your account on the day they process your application or when the cheque has cleared. If the latter, it's not going to happen in February, so let's hope it is the former, and that they process your application this week.

EDIT: My cheque shows as credited on Feb 24,  the day they opened  my account. As of yet, there is no sign of it in my current account but that doesn‘t matter now. Next deposit on March 1 🥳

Other than advancing the eventual maturity date, I cannot see any advantage in rushing to get it open this month. Am I missing something?

If you open the account at the end of a month then make the subsequent payments on the 1st, you get a higher balance for a longer period of time (so more interest).

soulsaver

retiree said:

colsten said:

Newly_retired said:

I have just received my application form through the post from YBS local branch. Given that we are near the end of the month, I presume returning it today together with a cheque for £500 is the best way to be sure it will be open this month? (Normally I would open it with less, and transfer the rest online. ) Being a 28 day month it is cutting it fine.

It will depend on

1. when your application gets processed
2. whether YBS credit your account on the day they process your application or when the cheque has cleared. If the latter, it's not going to happen in February, so let's hope it is the former, and that they process your application this week.

EDIT: My cheque shows as credited on Feb 24,  the day they opened  my account. As of yet, there is no sign of it in my current account but that doesn‘t matter now. Next deposit on March 1 🥳

Other than advancing the eventual maturity date, I cannot see any advantage in rushing to get it open this month. Am I missing something?

Possibility they withdraw it?

Newly_retired

glider3560 said:

retiree said:

colsten said:

Newly_retired said:

I have just received my application form through the post from YBS local branch. Given that we are near the end of the month, I presume returning it today together with a cheque for £500 is the best way to be sure it will be open this month? (Normally I would open it with less, and transfer the rest online. ) Being a 28 day month it is cutting it fine.

It will depend on

1. when your application gets processed
2. whether YBS credit your account on the day they process your application or when the cheque has cleared. If the latter, it's not going to happen in February, so let's hope it is the former, and that they process your application this week.

EDIT: My cheque shows as credited on Feb 24,  the day they opened  my account. As of yet, there is no sign of it in my current account but that doesn‘t matter now. Next deposit on March 1 🥳

Other than advancing the eventual maturity date, I cannot see any advantage in rushing to get it open this month. Am I missing something?

If you open the account at the end of a month then make the subsequent payments on the 1st, you get a higher balance for a longer period of time (so more interest).

This is what I was thinking.

Yorkshire_Pud

where_are_we said:

M&S Monthly Saver - old conditions were a cass switch, current account and 2 DD`S. Yes - good advice to keep current account and 2DD`s ticking over until hopefully a reincarnation of the MS.

I’m going to close my M&S current account when the RS matures. In the hope that in the future I will qualify as being a new customer if they bring in a switching offer.Could be several years who knows but I’m not expecting any more perks from the account as is.

typistretired

YBS passbook arrived in post today. I will make another deposit on Monday.

Nick_C

typistretired said:

YBS passbook arrived in post today. I will make another deposit on Monday.

When and how did you open the account?