Regular Savings Accounts: The Best Currently Available List!

soulsaver

@Special_Saver2
"Although the Coventry BS First Home Saver account does not qualify for inclusion on this thread as the interest rate is below 1% but it is certainly an interesting account with a high monthly savings limit of £1,000 and no penalties for withdrawals."

And:  3 year... variable rate account.

Poor_Leno

Hi all

I have a question about the Skipton regular saver account. If I open it on Thursday (30th) with 250, can I then deposit another 250 on Friday (1st) to maximise the interest in the account and make 13 payments over the year?

Also, if I make the initial deposit from my skipton savings account instead of by bank debit card will that clear/land faster? My worry is paying by DC on 30th and it not clearing until like the 4th or 5th and then not being able to make a further deposit in October. In which case transfering it straight over would be more beneficial

Thanks 👍

Daliah

 You should be alright with a Faster Payment as they typically show within a couple of hours in Coventry, though they recommend "you send any money to us at least a few days before the end of the month"

Debit cards definitely take at least 2-3 days to clear.

Essentially, leaving your first deposit until the 30th is cutting it too fine. Just do it straight away, so your deposit does definitely count for September.

NB. do they even offer deposits by card?

soulsaver

Daliah said:

 You should be alright with a Faster Payment as they typically show within a couple of hours in Coventry, though they recommend "you send any money to us at least a few days before the end of the month"

Debit cards definitely take at least 2-3 days to clear.

Essentially, leaving your first deposit until the 30th is cutting it too fine. Just do it straight away, so your deposit does definitely count for September.

NB. do they even offer deposits by card?

The Skipton do... and that's who Poor_Leno's talking about..

Daliah

soulsaver said:

Daliah said:

 You should be alright with a Faster Payment as they typically show within a couple of hours in Coventry, though they recommend "you send any money to us at least a few days before the end of the month"

Debit cards definitely take at least 2-3 days to clear.

Essentially, leaving your first deposit until the 30th is cutting it too fine. Just do it straight away, so your deposit does definitely count for September.

NB. do they even offer deposits by card?

The Skipton do... and that's who Poor_Leno's talking about..

DOH. Don't know why I thought it's about a Coventry account. 

Skipton say "If you pay money into your account using your debit card, we wont receive the money until 2 business days after you carry out the transaction" but looking back over deposits I have made by debit card, they show the date I made the deposits, not two business days later.

I'd still not leave it to the last minute.

kaMelo

Poor_Leno said:

Hi all

I have a question about the Skipton regular saver account. If I open it on Thursday (30th) with 250, can I then deposit another 250 on Friday (1st) to maximise the interest in the account and make 13 payments over the year?

Also, if I make the initial deposit from my skipton savings account instead of by bank debit card will that clear/land faster? My worry is paying by DC on 30th and it not clearing until like the 4th or 5th and then not being able to make a further deposit in October. In which case transfering it straight over would be more beneficial

Thanks 👍

In answer to your first point, yes. Payment limits are per calendar month.

Payments into the account will,  even with faster payments, not necessarily be credited immediately or even same day and they usually only happen during working hours. Internal transfers are done immediately whatever time of day. Being so close to the end of the month an internal transfer would be preferable although any payment made on Monday this coming week should have enough time to be credited before the end of September..

wiseonesomeofthetime

Poor_Leno said:

Hi all

I have a question about the Skipton regular saver account. If I open it on Thursday (30th) with 250, can I then deposit another 250 on Friday (1st) to maximise the interest in the account and make 13 payments over the year?

Also, if I make the initial deposit from my skipton savings account instead of by bank debit card will that clear/land faster? My worry is paying by DC on 30th and it not clearing until like the 4th or 5th and then not being able to make a further deposit in October. In which case transfering it straight over would be more beneficial

Thanks 👍

You cannot make 13 payments as the maximum deposit is £3,000 per https://www.skipton.co.uk/savings/regular-savers/online-existing-member-saver

• You can save up to £250 per calendar month. Monthly allowances not utilised can be rolled over to future months, up to a maximum of £3,000 over the 12 month term.

kaMelo

I missed the 13 payments point, as others have said, no you can't make 13 payments.
It's still worth doing it the payments as you suggest as the first payment will be there longer and the last payment will have at least a month plus a few days which will all generate a little more interest than not doing it.

Poor_Leno

Thanks everyone.  I just had a message from the Skipton representative who was on here a month back and said that if I open the account funded directly from another Skipton account then the funds clear instantly, whereas a faster payment from another bank can take 24 hours to clear and debit card up to 4 working days (wow, that many?!).  I just transferred over £250 anyway from my bank account to my skipton saver so shall leave it til Thursday then to open the RS.  And thanks for pointing out the £3,000 cap,nut as KaMelo says, still worth opening the account with doubled up deposits within 24 hours to get maximum interest.

liamcov

Does anyone know the address to send applications to Darlington Building Society? I can only find their head office online and their claim form doesn't say anything!