Regular Savings Accounts: The Best Currently Available List!

Bobblehat

Thanks RG2015 and Daliah .... it's interesting that the Chase Saver allows regular payments out, but unfortunately I can not get that as I do not have a phone that will accept the app and I do not have photo ID!

Are there any other Savings accounts that will allow regular payments out  ..... either externally or by drip feeding the associated current account (and then FD CA by SO)?

NannaH

If you are a married couple can you both have a first direct current a/c + this new 3.5% saver?
I’ve just opened a current account for myself and can’t find any info about 2 savings accs being possible so don’t want the rigmarole of opening a current acc for DH only to find he cant have the savings account too.
Disappointed that you can’t put the whole £3600 in at once though. 

Daliah

NannaH said:

If you are a married couple can you both have a first direct current a/c + this new 3.5% saver?

Of course you can

refluxer

NannaH said:

Disappointed that you can’t put the whole £3600 in at once though. 

That's not how regular savers work unfortunately

If you have that lump sum up-front and are wondering what's best to do with it, you'd need to put £3600 into a 1 Year Fixed Rate account paying 2.6% in order to match the best-case scenario for drip-feeding into the First Direct RS at the moment (£300/month from a Chase Saver @1.5%) or 2.45% to match the next-best scenario (feeding from Cynergy or Zopa @1.2%).

The best 1 year Fixed Rate accounts aren't quite there yet but they may reach those levels at some point this year though. In the meantime, this RS is a good option.

If you wanted to have a play with some figures yourself, the MSE Regular Saver calculator can be found here.

londoner62

NannaH said:

If you are a married couple can you both have a first direct current a/c + this new 3.5% saver?
I’ve just opened a current account for myself and can’t find any info about 2 savings accs being possible so don’t want the rigmarole of opening a current acc for DH only to find he cant have the savings account too.
Disappointed that you can’t put the whole £3600 in at once though. 

I/we just opened a joint account so the missus and I can both access the RS. Maybe you can update your application to a joint...?

Archie_Duke

londoner62 said:

NannaH said:

If you are a married couple can you both have a first direct current a/c + this new 3.5% saver?
I’ve just opened a current account for myself and can’t find any info about 2 savings accs being possible so don’t want the rigmarole of opening a current acc for DH only to find he cant have the savings account too.
Disappointed that you can’t put the whole £3600 in at once though. 

I/we just opened a joint account so the missus and I can both access the RS. Maybe you can update your application to a joint...?

@NannaH @londoner62

Hopefully this answers these points. Just taken from the product page in the First Direct app.

Rich2808

Every_Penny_Counts said:

Gers said:

Every_Penny_Counts said:

Gers said:

Every_Penny_Counts said:

Re First Direct RS

The RS page is now stating 3.5% interest, but when I log in to apply the page is still showing as 1% interest....  Anyone else seeing this?

EPC

Yes, it's still 1% on the app. 

Re First Direct RS

Well, at least it's not just me.  Hopefully the internal pages will update later.

EPC

It's showing now but glitchy on the app. I'll go back to it shortly. 

Just logged in again using a laptop & the interest is now showing 3.5%.  Application went smoothly, as usual with FD "the account can take up to 3 days to show".  But at least it's open & showing the correct interest on the application page now.

EPC

Why on earth does it take up to 3 working days to appear on online banking? Just all seems a bit antiquated! I know they need to set up a 'standing order' but it is just internal isn't it? Surely it should be next day at worst.

HSBC's regular saver opens and appears pretty much instantaneously. 

10_66

Rich2808 said:

Why on earth does it take up to 3 working days to appear on online banking? Just all seems a bit antiquated! I know they need to set up a 'standing order' but it is just internal isn't it? Surely it should be next day at worst.

HSBC's regular saver opens and appears pretty much instantaneously. 

Same when FD matures, if you don't badger them for it, the funds can take a few days to reappear.  HSBC are much faster with both new accounts and maturity.  I've never quite understood why FD have the good reputation they appear to have.  I'm not a fan of them from my experiences.

Bigwheels1111

Rich2808 said:

Every_Penny_Counts said:

Gers said:

Every_Penny_Counts said:

Gers said:

Every_Penny_Counts said:

Re First Direct RS

The RS page is now stating 3.5% interest, but when I log in to apply the page is still showing as 1% interest....  Anyone else seeing this?

EPC

Yes, it's still 1% on the app. 

Re First Direct RS

Well, at least it's not just me.  Hopefully the internal pages will update later.

EPC

It's showing now but glitchy on the app. I'll go back to it shortly. 

Just logged in again using a laptop & the interest is now showing 3.5%.  Application went smoothly, as usual with FD "the account can take up to 3 days to show".  But at least it's open & showing the correct interest on the application page now.

EPC

Why on earth does it take up to 3 working days to appear on online banking? Just all seems a bit antiquated! I know they need to set up a 'standing order' but it is just internal isn't it? Surely it should be next day at worst.

HSBC's regular saver opens and appears pretty much instantaneously. 

It normally shows up next day, I’ve had 10 regular savers with them over the last 15 years.
Interest will start today, at the end just call them on the 28-04-23 and ask for the money and they do it there and then.

Vortigern

Archie_Duke said:

londoner62 said:

NannaH said:

If you are a married couple can you both have a first direct current a/c + this new 3.5% saver?
I’ve just opened a current account for myself and can’t find any info about 2 savings accs being possible so don’t want the rigmarole of opening a current acc for DH only to find he cant have the savings account too.
Disappointed that you can’t put the whole £3600 in at once though. 

I/we just opened a joint account so the missus and I can both access the RS. Maybe you can update your application to a joint...?

@NannaH @londoner62

Hopefully this answers these points. Just taken from the product page in the First Direct app.

The terms quoted above apply to the regular saver, which is in sole name only and one per person.

However, where a couple have a joint current account, each of them can open a sole regular saver.