Regular Savings Accounts: The Best Currently Available List!

1Dan1Dan1

JamesRobinson48 said:

1Dan1Dan1 said:

I'm looking to stop monthly payments into my regular savers paying 1%.

Do I have to pay in the minimum amount each month into the following accounts?
- First Direct (min £25)
- HSBC (min £25)
- Lloyds - Club Lloyds Monthly Saver (min £25)
- TSB (min £25)
- Monmouthshire BS - Regular Saver Bond Issue 5 (min not stated)
The two Principality BS regular savers I hold (Maturity Christmas Regular Saver Bond and Regular Saver Bond Issue 24) say you don't need to pay in each month so I've cancelled my standing orders for these.
I appreciate the Lloyds and TSB accounts allow instant access penalty free withdrawals but it'd be easier just to stop the regular payments.
Many thanks in advance and apologies because I guess this has been covered up-thread.

You're absolutely correct - that's all covered in the detailed product listing on page 1 of this thread.

That means I can't miss payments into First Direct but I can miss payments into HSBC?  Is that correct?

Rich2808

Daliah said:

Great feeder account (digital only): Chase UK, 1.5% AER. Comes with full FSCS protection.

https://www.chase.co.uk/gb/en/product/chase-saver-account/

EDIT: Lovely jubbly, payments in and out are instant, and you can set up SOs to go out to UK accounts in your name. 

You do need to open up a chase current account though - and its app based. You can't have the savings account on its own.

10_66

1Dan1Dan1 said:

That means I can't miss payments into First Direct but I can miss payments into HSBC?  Is that correct?

You can't miss payments with either FD or HSBC, both minimum payments of £25 per month.

1882

Oh well most of my regular savings accounts are going to feel the draft next week not that Chase have arrived!

Daliah

Rich2808 said:

Daliah said:

Great feeder account (digital only): Chase UK, 1.5% AER. Comes with full FSCS protection.

https://www.chase.co.uk/gb/en/product/chase-saver-account/

EDIT: Lovely jubbly, payments in and out are instant, and you can set up SOs to go out to UK accounts in your name. 

You do need to open up a chase current account though - and its app based. You can't have the savings account on its own.

Leaving aside that some people don't like digital-only accounts, needing a current account as a pre-req is not a real issue though, is it? They don't run a hard credit check, and you do not have to use the current account at all(*) as you can make payments into, and out of, the savings account(s) directly.

For those who happily use app banking, this account is a no-brainer, with a 50% higher interest than the next nearest feeder account (which also needs a current account as pre-req)

(*)The current account does, however, come with a fantastic 1% cashback on nearly all day-to-day spending, for an entire year. I am not planning on making Chase my main account but I certainly have been using it for the cashback, which has so far paid me over £100 more than I would have got on my ancient Cashback Barclaycard. OK, I am a high spender but so are some others....

Daliah

I have tested the SO / future payment function of the Chase savings account, and it works a treat. Very easy to set up, definitely a superb feeder account. The payments arrived before 8 a.m. on the scheduled date, and Chase send you a text to confirm the payments have been made.

I don't think I will change the SOs for my existing Regular Savers but have set up a big SO from the Chase Saver to my existing feeder account for the 1st of a month, when all my RS SOs go out. Should I set up any new Regular Savers, I think I will feed them with SOs directly from the Chase account.

Descrabled

Ecology BS

The regular saver will be increasing interest to 1.3% variable from the present 0.8%. The easy access ISA will also become more interesting.

typistretired

Do you know when? Not showing on website and not received any notification

swanfan02

typistretired said:

Do you know when? Not showing on website and not received any notification

April 4th,

https://www.ecology.co.uk/hub/savings-rate-change-april-2022/

Descrabled

Ecology B S

I believe the increase in all their rates will be next Monday, 4 April; see savers friend.

My minimum regular saver is now 1.7%. This is based upon the 2 year fixed ISA interest rate.

My easy access is with Skipton ISA at 1.1%.

This rate rise to 1.3% is on the border for retention as accessible savings. Long time saver with Ecology.