Regular Savings Accounts: The Best Currently Available List!

mhoc

My M&S regular saver matures in April - is there any reason or any point in opening a new one? Is that even possible now? 

lhsecons

It isn’t possible.

cricidmuslibale

SFindlay said:

He also said that they have had a lot of feedback, and that their IT people were attempting to update the software to decline any applications breaching this rule.

Shame there are all these people phoning up to provide feedback resulting in them talking about updating software (I'll believe it when I see it!!) rather than just making their own decision if they'll follow these unequivocal T&Cs or the personal experiences of people on forums they follow. Sounds like some people don't know a good thing when they see it and instead attempt to place further obstacles in front of people that don't need to be placed there!! 

I couldn't agree more! I currently have both Issue 3 and Issue 4 of Coventry's regular savers - I am not interested in Issue 5 anyway because the variable interest rate of only 1.05% means that any rate cut will probably take the overall interest payment over the 12 month period below 1% - and I only opened Issue 4 because it was not entirely clear in the t's and c's for that issue that you couldn't hold a previous issue regular saver provided you only held one of each issue. I generally don't know now whether I should continue to make regular monthly payments into both of these regular savers or not? Anyone else facing the same dilemma, what do you intend to do please?

cricidmuslibale

colsten said:

RG2015 said:

He also said that they have had a lot of feedback, and that their IT people were attempting to update the software to decline any applications breaching this rule.

Well done all who helped achieve this 🤬🤬🤬

Too right! Why don't people ever realise that if a savings provider is accidentally / unintentionally benefiting you in one way or another it's nearly always the best policy to discuss it, when necessary, in a discreet manner and, crucially, be aware that, if you bring the unintentional benefit directly to the attention of the actual savings provider, you, and many others like you, may well lose that benefit permanently!?

Rich2808

cricidmuslibale said:

colsten said:

RG2015 said:

He also said that they have had a lot of feedback, and that their IT people were attempting to update the software to decline any applications breaching this rule.

Well done all who helped achieve this 🤬🤬🤬

Too right! Why don't people ever realise that if a savings provider is accidentally / unintentionally benefiting you in one way or another it's nearly always the best policy to discuss it, when necessary, in a discreet manner and, crucially, be aware that, if you bring the unintentional benefit to the attention of the actual savings provider, you, and many others like you, may well lose that benefit permanently!?

Sorry - but the provider is not accidentally or unintentionally benefitting people - those people have (in most cases) deliberately chosen to ignore the terms and conditions that provider has set and open multiple accounts for a product when only one is permitted at anyone time.
If its accidental and unknowing - that is fair enough - but when its done knowingly that is another matter.
Its the savings equivalent of saying its ok to exceed the speed limit in your car - as long as you don't get caught!
Well Coventry have identified the flaws in their controls - and are now ensuring the rules are followed. 
Hardly worth stressing over either way though!

cricidmuslibale

Rich2808 said:

cricidmuslibale said:

colsten said:

RG2015 said:

He also said that they have had a lot of feedback, and that their IT people were attempting to update the software to decline any applications breaching this rule.

Well done all who helped achieve this 🤬🤬🤬

Too right! Why don't people ever realise that if a savings provider is accidentally / unintentionally benefiting you in one way or another it's nearly always the best policy to discuss it, when necessary, in a discreet manner and, crucially, be aware that, if you bring the unintentional benefit to the attention of the actual savings provider, you, and many others like you, may well lose that benefit permanently!?

Sorry - but the provider is not accidentally or unintentionally benefitting people - those people have (in most cases) deliberately chosen to ignore the terms and conditions that provider has set and open multiple accounts for a product when only one is permitted at anyone time.
If its accidental and unknowing - that is fair enough - but when its done knowingly that is another matter.
Its the savings equivalent of saying its ok to exceed the speed limit in your car - as long as you don't get caught!
Well Coventry have identified the flaws in their controls - and are now ensuring the rules are followed. 
Hardly worth stressing over either way though!

I couldn't disagree more! All the evidence is that quite a few people have successfully managed and currently are successfully managing to hold more than one issue of Coventry's regular savers, and especially with Issue 4, the T's and C's were by no means entirely clear that one couldn't hold a previous issue regular saver at the same time! Thus when I state that Coventry has at least until recently 'accidentally / unintentionally benefited' a significant number of its savers this statement is an evidence-based one! Whether people have deliberately chosen to ignore terms and conditions or, far more likely in this case especially with Issue 4, not been entirely sure about how many Coventry regular savers they can hold at any one time and thus made an entirely understandable decision that they could reasonably apply for a second one as long as it was a different issue from the first one, does not change the fact that Coventry may not have intended to accidentally / unintentionally benefit some of its savers but, by not making the T's and C's entirely clear and unambiguous for every issue, not preventing those who have a previous issue regular saver from successfully applying for the latest issue regular saver, and not appearing to worry unduly about those who have more than one regular saver with them, that is precisely what they have done!! (at least up until very recently)

soulsaver

Where's that yawn emoji..?

Rich2808

soulsaver said:

Where's that yawn emoji..?

You could always just send us to Coventry!
Its all BS (for building society) - anyway.
PS They aren't the only provider who have been letting you break their rules on opening multiple regular savers.

SFindlay

Rich2808 said:

cricidmuslibale said:

colsten said:

RG2015 said:

He also said that they have had a lot of feedback, and that their IT people were attempting to update the software to decline any applications breaching this rule.

Well done all who helped achieve this 🤬🤬🤬

Too right! Why don't people ever realise that if a savings provider is accidentally / unintentionally benefiting you in one way or another it's nearly always the best policy to discuss it, when necessary, in a discreet manner and, crucially, be aware that, if you bring the unintentional benefit to the attention of the actual savings provider, you, and many others like you, may well lose that benefit permanently!?

Sorry - but the provider is not accidentally or unintentionally benefitting people - those people have (in most cases) deliberately chosen to ignore the terms and conditions that provider has set and open multiple accounts for a product when only one is permitted at anyone time.
If its accidental and unknowing - that is fair enough - but when its done knowingly that is another matter.
Its the savings equivalent of saying its ok to exceed the speed limit in your car - as long as you don't get caught!
Well Coventry have identified the flaws in their controls - and are now ensuring the rules are followed. 
Hardly worth stressing over either way though!

Rich2808 - Yet on 2nd February this year you stated "I don't think Virgin are enforcing their terms and conditions - although no harm logging into the app reading an article for ten seconds and getting 5 points every few weeks to keep you busy during lockdown!" So you were happy enough to in your words "break the speed limit"?? Seems you are displaying double standards depending which financial institution is being discussed!! 

veryintrigued

Can we get back to identying Regular Savers folks?