Regular Savings Accounts: The Best Currently Available List!

[Deleted User]

tiptoe_mouse said:

Has anyone got a Barclays children's regular saver and accidentally overpaid into it? I've just opened one, and I've accidentally transferred a large sum into it instead of into another of my Barclays accounts. (I'd already made the maximum monthly deposit of £100 into it.) If I take the money back out again, presumably this would count as a withdrawal and result in loss of interest? What happens if I leave it in there?

What normally happens in these situations is that the overpayment will bounce straight back to the account from which it came. Normally within a day. 

tiptoe_mouse

Deleted_User said:

tiptoe_mouse said:

Has anyone got a Barclays children's regular saver and accidentally overpaid into it? I've just opened one, and I've accidentally transferred a large sum into it instead of into another of my Barclays accounts. (I'd already made the maximum monthly deposit of £100 into it.) If I take the money back out again, presumably this would count as a withdrawal and result in loss of interest? What happens if I leave it in there?

What normally happens in these situations is that the overpayment will bounce straight back to the account from which it came. Normally within a day. 

I was hoping this would be the case. I made the transfer yesterday afternoon, so I guess I might need to wait until Monday/Tuesday to see if it's returned. I'm surprised that Barclays online banking let me make a transfer to it that was over £100, to be honest.

veryintrigued

veryintrigued said:

veryintrigued said:

veryintrigued said:

10_66 said:

liamcov said:

I have a reminder to give Triodos 33 days notice - does anyone know how we do this?

I've sent them a secure message to ask when the exact maturity date is as I'm not sure whether it's the anniversary of application date or when the funds hit the account.  So I imagine you request notice via their secure message service.

Another one who sent Tridos a secure message a couple of days ago to ask when and how - and to spell out I'd like to withdraw and not lose any interest.

I'll feedback here the reply and would appreciate anyone else doing so too please 

Tridos
Message:
Looking over your account I can see that your Fixed Regular Saver will mature on the xx/xx/2021. We will write to you nearer the time to advise you of this but upon maturity the balance will be moved into an Online Saver Account. There is no notice period on this account for withdrawals so you can withdraw your balance immediately if you wished.

Alternatively, if you wish to withdraw the funds from your Fixed Regular Saver now you can give the 33 days notice to avoid a penalty, or instruct us via secure message and we can process a payment on a chosen date but there may be an early access penalty.

True to their word this account has now matured into an instant access Online saver where Faster Payments can be made.

Furthermore the withdrawal of everything took three hours (on a Saturday) to hit current account.

Fantastic.

colsten

tiptoe_mouse said:

Deleted_User said:

tiptoe_mouse said:

Has anyone got a Barclays children's regular saver and accidentally overpaid into it? I've just opened one, and I've accidentally transferred a large sum into it instead of into another of my Barclays accounts. (I'd already made the maximum monthly deposit of £100 into it.) If I take the money back out again, presumably this would count as a withdrawal and result in loss of interest? What happens if I leave it in there?

What normally happens in these situations is that the overpayment will bounce straight back to the account from which it came. Normally within a day. 

I was hoping this would be the case. I made the transfer yesterday afternoon, so I guess I might need to wait until Monday/Tuesday to see if it's returned. I'm surprised that Barclays online banking let me make a transfer to it that was over £100, to be honest.

I would say sit tight. Either they enforce the rules and return your overpayment, or they don't notice / care. If the latter, you might want to adjust deposits in subsequent months so you don't end up with more than £1,200 paid in over the year in total.

There is nothing in the terms about overpayment. I think you are right, you'd get just 1.51% for the month you make a withdrawal in, but it will revert to 3.5% for subsequent months.  https://www.barclays.co.uk/content/dam/documents/personal/savings/childrens_regular_saver_issue1.pdf

tiptoe_mouse

colsten said:

tiptoe_mouse said:

Deleted_User said:

tiptoe_mouse said:

Has anyone got a Barclays children's regular saver and accidentally overpaid into it? I've just opened one, and I've accidentally transferred a large sum into it instead of into another of my Barclays accounts. (I'd already made the maximum monthly deposit of £100 into it.) If I take the money back out again, presumably this would count as a withdrawal and result in loss of interest? What happens if I leave it in there?

What normally happens in these situations is that the overpayment will bounce straight back to the account from which it came. Normally within a day. 

I was hoping this would be the case. I made the transfer yesterday afternoon, so I guess I might need to wait until Monday/Tuesday to see if it's returned. I'm surprised that Barclays online banking let me make a transfer to it that was over £100, to be honest.

I would say sit tight. Either they enforce the rules and return your overpayment, or they don't notice / care. If the latter, you might want to adjust deposits in subsequent months so you don't end up with more than £1,200 paid in over the year in total.

There is nothing in the terms about overpayment. I think you are right, you'd get just 1.51% for the month you make a withdrawal in, but it will revert to 3.5% for subsequent months.  https://www.barclays.co.uk/content/dam/documents/personal/savings/childrens_regular_saver_issue1.pdf

The overpayment that I made already takes me over the £1200 - well over, in fact. My concern is that if I leave it there, then they could decide not to pay me any interest at all, as I've broken the T&C's.

colsten

tiptoe_mouse said:

colsten said:

tiptoe_mouse said:

Deleted_User said:

tiptoe_mouse said:

Has anyone got a Barclays children's regular saver and accidentally overpaid into it? I've just opened one, and I've accidentally transferred a large sum into it instead of into another of my Barclays accounts. (I'd already made the maximum monthly deposit of £100 into it.) If I take the money back out again, presumably this would count as a withdrawal and result in loss of interest? What happens if I leave it in there?

What normally happens in these situations is that the overpayment will bounce straight back to the account from which it came. Normally within a day. 

I was hoping this would be the case. I made the transfer yesterday afternoon, so I guess I might need to wait until Monday/Tuesday to see if it's returned. I'm surprised that Barclays online banking let me make a transfer to it that was over £100, to be honest.

I would say sit tight. Either they enforce the rules and return your overpayment, or they don't notice / care. If the latter, you might want to adjust deposits in subsequent months so you don't end up with more than £1,200 paid in over the year in total.

There is nothing in the terms about overpayment. I think you are right, you'd get just 1.51% for the month you make a withdrawal in, but it will revert to 3.5% for subsequent months.  https://www.barclays.co.uk/content/dam/documents/personal/savings/childrens_regular_saver_issue1.pdf

The overpayment that I made already takes me over the £1200 - well over, in fact. My concern is that if I leave it there, then they could decide not to pay me any interest at all, as I've broken the T&C's.

No they cannot pay you no interest as the T&Cs do not allow for this. They could, however, decline to pay any interest on the amount above £1,200 / on deposits above £100 each month). My hunch is that they'll pay you interest on the full amount, as this is probably cheaper for them than correcting the situation (which they allowed to happen in the first instance). You'll find out soon enough. As I said, sit tight.

Special_Saver2

Hi Folks,

I have carried out this weekend's update for this thread.

- Yorkshire BS Loyalty Regular Saver withdrawn and removed from the list on page 1

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/p1Leek United BS Flexible Saver Account

[Deleted User]

The maturity funds from Chorley BS Members RS (30 June 2021 maturity) hit my nominated current account about 10pm tonight (Sunday 4th). Worth checking if you're waiting for these funds.

Speculator

Deleted_User said:

The maturity funds from Chorley BS Members RS (30 June 2021 maturity) hit my nominated current account about 10pm tonight (Sunday 4th). Worth checking if you're waiting for these funds.

Funds in my Santander current account.

DragonQ

I feel like it'd be more useful to organize the available accounts by restrictions rather than maturity times, since most accounts aren't avilable for most people here and trawling through the list takes a while. e.g. age restriction, location restriction, withdrawal restriction, none of the above.

My regular savers are winding down now. Only Lloyds and TSB are helpful (being 1% with no withdrawal penalties). All others are less than 1% or 1% but with withdrawal restrictions which don't suit me currently.