Regular Savings Accounts: The Best Currently Available List!

happybagger

This is becoming instagram for account openings. dozens of posts that actually contain no really useful info.
Surely, FD have launched an account, read the terms, open it or not, move on?

Rich2808

happybagger said:

This is becoming instagram for account openings. dozens of posts that actually contain no really useful info.
Surely, FD have launched an account, read the terms, open it or not, move on?

I think it is perfectly legitimate to get these comments/posts for a few days when a new product launches or an existing regular saver sees its interest rate massively boosted as FD has done.   FD does not provide an email confirmation when you apply - and its perfectly legitimate to raise questions for example about the application process and delays in your new account when opened online appearing in online banking.

Its not a tiny building society - the HSBC group which supports it is a huge global entity - and given you need to be an existing current account customer (so they have your details) I see no reason why it simply doesn't appear instantaneously. If I was FD I probably wouldn't have launched this just before a bank holiday weekend for this reason given the flood of applications they would have got on Thursday.

Its only a minor issue - but this is surely what this forum is for as not everyone has the same financial expertise etc.

PS I got the same text from FD at 2.55pm yesterday despite applying Thursday but my account still isn't appearing in my online banking.  Just thought you would like to know!!

Daliah

Rich2808 said:

Its not a tiny building society - the HSBC group which supports it is a huge global entity - and given you need to be an existing current account customer (so they have your details) I see no reason why it simply doesn't appear instantaneously.

The First Direct RS has now been going essentially unchanged for at least 12 years, with the only real difference over the years being the interest rate. AFAIC, there is next to no reason for changing the slightly clunky processes and system support - the main thing are the interest rate and prompt payment at the end, and I am sure we all prefer higher interest rates to polished online systems.

Those who are new to the FD RS can rest assured that it works like clockwork, even if you can't see it 24x7 at the start and at the end, as the processes and the system support are tried and tested and rock solid.

Notepad_Phil

Rich2808 said:

PS I got the same text from FD at 2.55pm yesterday despite applying Thursday but my account still isn't appearing in my online banking.  Just thought you would like to know!!

I have to admit I was a little surprised when my 3.5% regular saver arrived sometime this morning i.e. Saturday as I thought there was no chance of it being before Tuesday at the earliest.

It definitely wasn't there on FD last night at 8pm'ish but was when I logged in today at 10am'ish, and it did say that the money arrived 'Today'.

phillw

Malchester said:
I pay into my RBS digital saver from an external account no problem. When I opened the account I set up a SO for £1 so the first month the £1 went in. I then cancelled the SO and pay by bank transfer from elsewhere on 1st of each month and always instantly shows.

Ok. They must have changed this, they definitely bounced an external payment out of mine when I first opened it. Which I thought was rather stupid. Unless it was some stupid processing glitch.

phillw

kaMelo said:

The way FD and HSBC operate their regular saver it makes no difference when they actually open it

It does to me, I like everything to happen on the 1st of the month. I spoke to customer services to get my online access setup and they said that it's normally three working days but they are running behind and they don't think anything is going to be done until tuesday.

kaMelo

phillw said:

kaMelo said:

The way FD and HSBC operate their regular saver it makes no difference when they actually open it

It does to me, I like everything to happen on the 1st of the month. I spoke to customer services to get my online access setup and they said that it's normally three working days but they are running behind and they don't think anything is going to be done until tuesday.

Okay, other than your housekeeping preferences, it makes no difference.

NannaH

I opened a FD current acc on Thursday online,  got my debit card yesterday, had to ring and set up telephone banking before I could use the app then  added £1k online via bank transfer and then opened a regular saver via the app,  it said it will be up and running in a few days and hasn’t yet taken the first £300. 

isasmurf

Rich2808 said:

happybagger said:

This is becoming instagram for account openings. dozens of posts that actually contain no really useful info.
Surely, FD have launched an account, read the terms, open it or not, move on?

I think it is perfectly legitimate to get these comments/posts for a few days when a new product launches or an existing regular saver sees its interest rate massively boosted as FD has done.   FD does not provide an email confirmation when you apply - and its perfectly legitimate to raise questions for example about the application process and delays in your new account when opened online appearing in online banking.

Its not a tiny building society - the HSBC group which supports it is a huge global entity - and given you need to be an existing current account customer (so they have your details) I see no reason why it simply doesn't appear instantaneously. If I was FD I probably wouldn't have launched this just before a bank holiday weekend for this reason given the flood of applications they would have got on Thursday.

Its only a minor issue - but this is surely what this forum is for as not everyone has the same financial expertise etc.

The issue is not whether this is what this forum is for, but whether they should be posted in this thread. It would be much better if all questions and comments on the First Direct regular saver or any other account get posted in a dedicated thread for that account rather than in a general thread, especially when it is a popular account that generates lots of posts. It would save people who aren't interested in the FD RS from opening this thread and having to scroll through lots of posts they aren't interested in. It would help infrequent visitors to this forum coming here who may have questions to find that their question has been asked and answered already more easily. 

Descrabled

Monmouthshire Christmas Saver 4

I missed that this accounnt increased to 1.5% from 17 March. How did I miss that change?

I still have Chorley and Principality Christmas Savers paying 1.05% wih nominal addition each month.

I also have nominal amounts going into SRBS 1.15%, ESBS 1.3%, and Loughborough Flex 1.1%. All have sizable balances that will be reduced to minimum if their interest rate do not improve by the end of May.

I have alredy removed most money from Mansfied, Ecology, and Nationwide S to S.

I expect HSBC to match the 3.5% of First Direct in near future.