Regular Savings Accounts: The Best Currently Available List!

Nick_C

veryintrigued said:

Nick_C said:

veryintrigued said:

Nick_C said:.

Principality's IT is archaic.  Any attempt to move money between accounts or close accounts is done by secure message, and needs to be received before 3:30pm.

Closure of account can be done by an option under Account Services (top left).

I requested this last night and the funds were in my external nominated account by 10:00hrs.

That's superb compared to the likes of some that take a week or more and issue a cheque.

As I said, the instructions are  carried out via a secure message to a member of staff. 

The option you refer to simply sends a secure message requesting that the account is closed.

Users/customers cannot give a direct instruction to the IT system, which we have come to expect in the 21st Century.

In England anyway.

Most of the financial institutions I deal with allow me to initiate closure directly and the funds are usually in my external account within seconds without any further human intervention. 

I suspect someone in the back office at Principality worked out the closing interest using an abacus. 

So you admit the 15:30hrs was nonsense.

And that customers can trigger the process by a non secure message process.

And that lots of institutions loads of us on here have less efficient systems.

That's good we agree.

Back to new and improved RS anyone?

No. You are talking rubbish. Payments and account closures are initiated by secure message, as I have stated. 

Payments to external accounts initiated after 15:30 are actioned the next day.

We do not agree. Nor will we I suspect.

I'm not sure why you feel the need to contradict my accurate truthful posts, made in response to sometime seeking advice. 

But some people are like that I guess. 

Descrabled

Principality

My 6D (old money): Opened RS 30 and closed RS 28 lunch time.

Mid afternoon money from RS 28 in current account and RS 30 showing funded.

I like Principality as they keep on offering regular savers that have good interest rates. They allow these fixed rate accounts to be closed early; a real bonus whilst the market is moving so rapidly.

liamcov

Section62 said:

liamcov said:

Principality - I've got 2 regular savers at 1.05%, can I close these and still get the interest?

Principality

If one of them is the Maturity Christmas Regular Saver Bond then bear in mind that last year the eligibility for this product depended on having a maturing 1 Year RS Bond or holding the 2021 Christmas Regular Saver Bond.

I've decided to hold on to my Maturity Christmas Regular Saver Bond until maturity - just in case Principality do the same thing again and launch a maturity product with restricted eligibility.  I figure since the financial loss is small* as the account balance is low (significantly less than the £1500 maximum) and maturity is only about 3 weeks away then it is worth the gamble.

(*less than a quid if I'd moved the balance to my Santander eSaver today)

That was my next question actually, thanks for the info everyone.

gt94sss2

Section62 said:

Deleted_User said:

Has anyone received maturity papers for Monmouthshire BS Christmas Saver Issue 4? It matures for everyone on 31 October. It may be that Monmouthshire are pondering their options given the current turmoil on rates, hence they are a bit late. Im just concerned my letter has gone missing or something.

From hazy recollection I think Monmouthshire do their maturities by snail mail.

Yes, I got mine in the post yesterday.

The options are -

1) Transfer funds to another Monmouthshire account

2) Transfer funds to an external account.

The default if no option is selected is the account will mature into an "Easy Saver - Issue 1" paying 0.85%.

No mention of a new Christmas Saver or any other products.

Edit: Letter just dated "September 2022"

I got my maturity letter today. This is my first/only account with Monmouthshire and I would welcome views on whether there might be any benefit in retaining an account of some sort.

Do they have sent history in offering products for existing members only/loyalty etc.?

chris_the_bee

gt94sss2 said:

Section62 said:

Deleted_User said:

Has anyone received maturity papers for Monmouthshire BS Christmas Saver Issue 4? It matures for everyone on 31 October. It may be that Monmouthshire are pondering their options given the current turmoil on rates, hence they are a bit late. Im just concerned my letter has gone missing or something.

From hazy recollection I think Monmouthshire do their maturities by snail mail.

Yes, I got mine in the post yesterday.

The options are -

1) Transfer funds to another Monmouthshire account

2) Transfer funds to an external account.

The default if no option is selected is the account will mature into an "Easy Saver - Issue 1" paying 0.85%.

No mention of a new Christmas Saver or any other products.

Edit: Letter just dated "September 2022"

I got my maturity letter today. This is my first/only account with Monmouthshire and I would welcome views on whether there might be any benefit in retaining an account of some sort.

Do they have sent history in offering products for existing members only/loyalty etc.?

In the past two years they have included the option to invest part of the proceeds in the following years X-mas bond. As they have not done so this year, I guess there will be no 2023 X-mas Saver.
Retaining an online ID by having £1 in an easy access account might help in the future, but their current offerings are not very attractive. Their regular saver is only 2.25% and is fixed for a year with no withdrawals or closure allowed.

Special_Saver2

Hi Everybody,

I have changed the following items on page 1 of this thread for this weekend's update.

- NatWest Digital Regular Saver Account (and I presume Royal Bank of Scotland Digital Regular Saver Account) interest rate updated to 5% gross p.a. (5.12% AER) variable up to £1,000 then 1% on £1,001 - £5,000 then 0.5% above £5,000 from 18th October 2022

- Bath BS Homestart Regular Saver interest rate updated to 2.55% gross p.a. variable from 1st November 2022

- Bath BS 16-25 Regular Saver interest rate updated to 5.35% gross p.a. variable from 1st November 2022

- Bath BS Regular Saver interest rate updated to 2.24% gross p.a. variable from 1st November 2022

- Principality BS Learner Earner Issue 3 (Adult with a Child) interest rate updated to 3.5% gross p.a. variable from 13th October 2022

- Principality BS NHS Thank You Saver (Issue 4) and Principality BS NHS Thank You Online Saver (Issue 4) interest rate updated to 3% gross p.a. variable from 13th October 2022

- Principality BS Dylan Regular Saver Bond (Issue 11, children only) replaces issue 10 with an interest rate of 3.5% gross p.a. fixed

- Principality BS 1 Year Regular Saver Bond (Issue 30) replaces issue 29 with an interest rate of 3.25% gross p.a. fixed

- Principality BS First Home Steps Savings Account (Issue 3) interest rate updated to 2.8% - 3.5% gross p.a. variable (2.8% if your balance is £2,500, then 3% if your balance is £2,501 - £7,500 then 3.5% from £7,500 to £25,000) from 13th October 2022

- Darlington BS Teen Goal Saver and Darlington BS Darly Young Saver interest rate increased to 3.3%

- Darlington BS Green Regular Saver interest rate increased to 2.25%

- Nationwide BS Flex Regular Saver withdrawn and removed from the list

- Cumberland BS Regular Saver (Issue 3) interest rate updated to 2.5%

I have made a note of new accounts from Market Harborough and Swansea BS but I have not added them yet as I do not think they are going to still be in my list on page 1 when I update it with the new interest rate threshold later this month.

I will do the next update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

happybagger

I can't see it listed on P1, but Hinckley & Rugby have an open-ended RS, rate goes up to 3.5% on 21 October.

£10 to £500 p/m, but unlimited withdrawals on 30 days notice

Does not appear to have postcode restriction.

Source

Wheres_My_Cashback

happybagger said:

I can't see it listed on P1, but Hinckley & Rugby have an open-ended RS, rate goes up to 3.5% on 21 October.

£10 to £500 p/m, but unlimited withdrawals on 30 days notice

Does not appear to have postcode restriction.

Source

It's a 2 year RS which reverts to an easy access account, 6K per year, Max balance 12K (excl interest)

ForumUser7

happybagger said:

I can't see it listed on P1, but Hinckley & Rugby have an open-ended RS, rate goes up to 3.5% on 21 October.

£10 to £500 p/m, but unlimited withdrawals on 30 days notice

Does not appear to have postcode restriction.

Source

Here is the document showing other HRBS rate increases for anyone interested: https://www.hrbs.co.uk/wp-content/uploads/2022/10/Interest-Rates-change-notice-21-October-22-Web.pdf

Daliah

happybagger said:

I can't see it listed on P1, but Hinckley & Rugby have an open-ended RS, rate goes up to 3.5% on 21 October.

£10 to £500 p/m, but unlimited withdrawals on 30 days notice

Does not appear to have postcode restriction.

Source

Despite of the complication of 30 days notice, it sounded interesting .....until I came to read abut applying and managing by Post or in Branch.

It's not opened-ended but 2 years max: After 2 years your account will automatically become a Plain Sailing Easy Access Account

I'll pass for now but it sounds interesting for those who can manage with postal/Branch application and management.