Regular Savings Accounts: The Best Currently Available List!

Middle_Sister

When I opened a First Direct Regular Saver there was a stipulation that you had to have a current account with them which, unless you paid £1,000 into it every month you would be charged £10 a month. However, if you kept £1k in the account all the time you didn't have to put in £1k a month and you wouldn't be charged the £10.
I've now been told that you don't need to pay in or keep £1k in the current account and that they no longer charge the £10 a month.
Is that correct?

ColdIron

Yes it is. You could have a pound in a savings account that would waive the fees, that has been dropped as well. You still need the linked current account though

liamcov

Triodos - If you set the payment up from your internet banking now, it will automatically default to a date in 33 days time and the payment will go on that day. This will serve your notice period without you or us needing to take any other action.

But how do I know what the balance will be if I do this now? Is it accepted that this account becomes instant access on maturity and we can just withdraw at that point? There has been multiple replies by them so hard to know what's what.

Growingold

From their summary box when the Triodos R/S was opened:-
Once you have received the fixed rate for one year, the account will automatically be changed to a variable rate savings account.
So yes it you want access before maturity you need to give 33 days notice else at maturity it will become a variable rate savings account  which you can then access.  In the maturity options it must give details of this new variable savings account and its terms and conditions.  I doubt whether you have to give 33 days notice once its become a variable account.

Special_Saver2

Hi Folks,

Here is this weekend's update to this thread.

I have updated the First Direct Regular Saver account entry. I had previously edited it to say you cannot open a new current account (which you need to open the regular saver account) but I can see from their website that this is now possible so I have removed that comment.

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

veryintrigued

Mansfield 150 year 5th RS

Just a heads-up for others that I have diarised that the 0.2% bonus on this account stops on the 24/6.

I'll be keeping it though as it will still be 1%

**Edit just received a letter to confirm this.

schiff

I've had the letter from Principality BS that I've been expecting about the maturing Issue 22. A form to fill in and return telling them what I would prefer them to do with the proceeds. And no franked return envelope!
PS: I think the answer is to let the matured RS become an Easy Saver (their option if they hear nothing prior to the maturity date) and close it.

Descrabled

Principality BS

I have always used the online service to inform them that I want to close the account on the maturity date and transfer proceeds to my designated account.  Other options are available online.

colsten

Descrabled said:

Principality BS

I have always used the online service to inform them that I want to close the account on the maturity date and transfer proceeds to my designated account.  Other options are available online.

Same here. Though sometimes the letters arrive before the maturity options appear online, so people may not know they will appear. In any case, though, you could give your instructions by secure message if you feel you can't wait for the maturity options to appear (which they do, well in time before maturity).

dcs34

schiff said:

I've had the letter from Principality BS that I've been expecting about the maturing Issue 22. A form to fill in and return telling them what I would prefer them to do with the proceeds. And no franked return envelope!
PS: I think the answer is to let the matured RS become an Easy Saver (their option if they hear nothing prior to the maturity date) and close it.

There's an Issue 24 I think paying about 1%, which might not be worth it for everyone of course.