Regular Savings Accounts: The Best Currently Available List!

PRAISETHESUN

Malchester said:

Emily_Joy said:

Evening all. As far as I can see Darlington Building society doesn't have any postcode requirements on their Special Occasion Regular Saver account. To be more specific, if you move out of the specified postcode area your account will not be closed. I know this for a fact because I was able to open two of these accounts and I am nowhere near the postcode area specified.

I have a question. The OH and I are looking to open joint regular saving accounts with Saffron and Yorkshire building society. I have been a member of both for over 12 months, but the OH has not. Is this a problem? The second question is whether we need to have a joint current account for withdrawals first?

The requirement is to live in the postcode areas OR be an existing member. In your case you qualify as an existing member wherever you live. For new accounts you can only open one if you are an existing member or live in the area

The usual workaround for these types of restrictions is to open a savings account that has no postcode restrictions, such as their instant access saver (which is available nationally), and then you will qualify as an "existing customer" for any accounts which have limited availability. Applicable to most banks/BS, not just Darlington.

Emily_Joy

PRAISETHESUN said:

Malchester said:

Emily_Joy said:

Evening all. As far as I can see Darlington Building society doesn't have any postcode requirements on their Special Occasion Regular Saver account. To be more specific, if you move out of the specified postcode area your account will not be closed. I know this for a fact because I was able to open two of these accounts and I am nowhere near the postcode area specified.

I have a question. The OH and I are looking to open joint regular saving accounts with Saffron and Yorkshire building society. I have been a member of both for over 12 months, but the OH has not. Is this a problem? The second question is whether we need to have a joint current account for withdrawals first?

The requirement is to live in the postcode areas OR be an existing member. In your case you qualify as an existing member wherever you live. For new accounts you can only open one if you are an existing member or live in the area

The usual workaround for these types of restrictions is to open a savings account that has no postcode restrictions, such as their instant access saver (which is available nationally), and then you will qualify as an "existing customer" for any accounts which have limited availability. Applicable to most banks/BS, not just Darlington.

What I am saying is that on the first page of this thread it reads that if you move out of the area your Special Occasion Saver will be converted to a different account with lower interest rate. This statement is not correct.

JamesPeter

Talking of the Darlington BS , they have upped their rates again from today. Special Occasion Saver now 2.20% (up from 1.95%). Other Reg Savers also upped. Same t&c's as far as I can see.

https://www.darlington.co.uk/savings-accounts/regular-savings-accounts/

PRAISETHESUN

Emily_Joy said:

PRAISETHESUN said:

Malchester said:

Emily_Joy said:

Evening all. As far as I can see Darlington Building society doesn't have any postcode requirements on their Special Occasion Regular Saver account. To be more specific, if you move out of the specified postcode area your account will not be closed. I know this for a fact because I was able to open two of these accounts and I am nowhere near the postcode area specified.

I have a question. The OH and I are looking to open joint regular saving accounts with Saffron and Yorkshire building society. I have been a member of both for over 12 months, but the OH has not. Is this a problem? The second question is whether we need to have a joint current account for withdrawals first?

The requirement is to live in the postcode areas OR be an existing member. In your case you qualify as an existing member wherever you live. For new accounts you can only open one if you are an existing member or live in the area

The usual workaround for these types of restrictions is to open a savings account that has no postcode restrictions, such as their instant access saver (which is available nationally), and then you will qualify as an "existing customer" for any accounts which have limited availability. Applicable to most banks/BS, not just Darlington.

What I am saying is that on the first page of this thread it reads that if you move out of the area your Special Occasion Saver will be converted to a different account with lower interest rate. This statement is not correct.

Good spot. Flagging this to @Special_Saver2 for the next update

where_are_we

With increasing interest rates, the fixed 1.75% Virgin Home Buying Coach Regular Savers are now not competitive. Even the Virgin M Plus Saver is now 1.71%. Has anyone closed one of these accounts? Are there any issues? There is no loss of interest. The alternative is reduce the balance to £1 and have a monthly standing order for £1 until maturity.

swanfan02

where_are_we said:

With increasing interest rates, the fixed 1.75% Virgin Home Buying Coach Regular Savers are now not competitive. Even the Virgin M Plus Saver is now 1.71%. Has anyone closed one of these accounts? Are there any issues? There is no loss of interest. The alternative is reduce the balance to £1 and have a monthly standing order for £1 until maturity.

I closed my virgin home buying coach regular saver yesterday, full balance plus interest appeared in my linked account within half an hour. It was opened in February.

Wheres_My_Cashback

where_are_we said:

With increasing interest rates, the fixed 1.75% Virgin Home Buying Coach Regular Savers are now not competitive. Even the Virgin M Plus Saver is now 1.71%. Has anyone closed one of these accounts? Are there any issues? There is no loss of interest. The alternative is reduce the balance to £1 and have a monthly standing order for £1 until maturity.

Virgin have been known to increase RS rates in the past for already open accounts. Let's hope that come 4th Aug or soon after there will be an increase.
Even if not the HBC RS are effectively easy access savings accounts so will still trump other accounts in this category.

Loughborough RS and some Monmouth RS however are now no longer viable unless rates increase.

Time to re-evaluate some S/Os before Monday.

happybagger

Darlington BS
For those with the legacy High Days saver RS account where the interest rate had previously mirrored the new SOS, the rate has only increased to 2.05%

(not updated on their website but found by logging on)

Emily_Joy

Sorry to repeat myself, but does anyone know whether I and the OH need to open a joint current account for withdrawls before applying for joint RS? In other words, if the RS is joint, does the account for withdrawls have to be joint as well? (Perhaps joint easy access saving will also do).. 

trickydicky14

JamesPeter said:

Talking of the Darlington BS , they have upped their rates again from today. Special Occasion Saver now 2.20% (up from 1.95%). Other Reg Savers also upped. Same t&c's as far as I can see.

https://www.darlington.co.uk/savings-accounts/regular-savings-accounts/

Credit to Darlington they have not been backward coming forward so to speak.