Regular Savings Accounts: The Best Currently Available List!

Band7

alibean121 said:

adindas said:

I just cheeked it. My TSB monthly saver is still paying 2% with minimum balance, not paying 3%.

Does anyone know the way around to get 3% interest. Could it be done like LBG group, e.g upgrade to other instant saving and reopen a new one ?  Will it work with TSB ??

No, that's not going to work I'm afraid. Their system definitely checks when you last opened an account not just whether you currently have one. I would probably suggest just closing it anyways though...

Only if they have your accounts on the same profile. Which sometimes they do and sometimes they don't. It's a messy hit and miss.

chris_the_bee

where_are_we said:

EssexHebridean said:

trickydicky14 said:

where_are_we said:

Furness RS5 application by post is time consuming. But for 4% and access without loss of interest just about worth it for myself and OH - double the benefit for a little duplication. They told me a certified copy for ID was required. Over cautious in my opinion because we have been with them for a number of years, registered for online, and have everyday saver accounts. We do not pay for certifying, ever, as a matter of principle. However a government benefit letter (winter fuel allowance for us) less than 3 months old backed up by a bank statement is also Ok. 

I'm waiting for my winter fuel letter to arrive, so you can confirm it will be Ok as I.D? Like you, no way am I paying for certified copies.

If the documents required are to meet money laundering regs then a council tax bill is valid for 12 months use rather than just 3 months as most other bills would be. Might help someone as it doesn’t seem to be widely known.

Yes, Council tax bill is valid for 12 months. This is good to know. Generally speaking and in Furness Building Society`s case a council tax bill is in the address verification list. It`s the Identity Verification list that is problematical because it requires original valuable documents (risk losing passport or driving license) or a certified copy (costly, unless you know someone in the right profession). The way round this is a government benefit letter less than 3 months old backed up by an address verification letter which could be a council tax bill less than 12 months old or a bank statement, credit card statement or utility bill (all less than 3 months old). This would satisfy F B Society.

I just opened a Furness account successfully using a Pension entitlement letter. Easy to request get a proof of benefit letter online from DWP. Takes about 5 days to arrive. Can also request another if one is not returned to you. Furness returned my original letter and council tax bill with the passbook.

Bridlington1

adindas said:

I just cheeked it. My TSB monthly saver is still paying 2% with minimum balance, not paying 3%.

Does anyone know the way around to get 3% interest. Could it be done like LBG group, e.g upgrade to other instant saving and reopen a new one ?  Will it work with TSB ??

TSB monthly savers are fixed so the interest rate will show as 2% until the regular saver matures. Unfortunately TSB will not let you renew your monthly saver into another easy access account so there is no workaround (I tried this when they first launched the 3% monthly saver). 2% is well below the top easy access accounts nowadays so if I were you I'd just close the monthly saver now and plonk the contents into a higher paying easy access account whilst you find a new regular saver(s) at a higher rate.

adindas

Bridlington1 said:

adindas said:

I just cheeked it. My TSB monthly saver is still paying 2% with minimum balance, not paying 3%.

Does anyone know the way around to get 3% interest. Could it be done like LBG group, e.g upgrade to other instant saving and reopen a new one ?  Will it work with TSB ??

TSB monthly savers are fixed so the interest rate will show as 2% until the regular saver matures. Unfortunately TSB will not let you renew your monthly saver into another easy access account so there is no workaround (I tried this when they first launched the 3% monthly saver). 2% is well below the top easy access accounts nowadays so if I were you I'd just close the monthly saver now and plonk the contents into a higher paying easy access account whilst you find a new regular saver(s) at a higher rate.

I just have £25 most of the time, so no urgency to close it. Also I just afraid they might not allow people to apply within 12 months starting from the time of cancelling them.

chris_the_bee

adindas said:

Bridlington1 said:

adindas said:

I just cheeked it. My TSB monthly saver is still paying 2% with minimum balance, not paying 3%.

Does anyone know the way around to get 3% interest. Could it be done like LBG group, e.g upgrade to other instant saving and reopen a new one ?  Will it work with TSB ??

TSB monthly savers are fixed so the interest rate will show as 2% until the regular saver matures. Unfortunately TSB will not let you renew your monthly saver into another easy access account so there is no workaround (I tried this when they first launched the 3% monthly saver). 2% is well below the top easy access accounts nowadays so if I were you I'd just close the monthly saver now and plonk the contents into a higher paying easy access account whilst you find a new regular saver(s) at a higher rate.

I just have £25 most of the time, so no urgency to close it. Also I just afraid they might not allow people to apply within 12 months starting from the time of cancelling them.

No, it is 12 months starting from the date you opened the original one. i.e it's anniversary.

schiff

I can open a new TSB but with the 12-months lock in I'm waiting for a higher interest rate than 3.00%.

My biggest disappointment is with Nationwide. My Flex Regular Saver matures next week and it appears that I can't open a new one at the attractive 4.00% (from 1/12 of course).

Band7

schiff said:

My biggest disappointment is with Nationwide. My Flex Regular Saver matures next week and it appears that I can't open a new one at the attractive 4.00% (from 1/12 of course).

...except if you have let them borrow your money for the last 12 months 😭

ForumUser7

Bath Building Society Rate Changes (Effective 1st December):

Find out how your savings account's interest rate will change: https://www.bathbuildingsociety.co.uk/personal-savings/accounts/view-all-interest-rates/

Customers may get emails later in the day confirming the new rates, but thought I'd post them seeing as they are on the website already.

Gers

Virgin Money HBC new account  still with a very poor 1.75% interest rate - it doesn't raise any interest with me. 

johnmoney05

Just want to point out that there is one mistake in the first post:-

Furness BS 1 Year Regular Saver (Issue 5)

Interest rate: 4% gross p.a. variable
Monthly payment: £1-£250
Miss any payments: No
Penalty-free withdrawals: Yes, one penalty-free withdrawal allowed
Age of applicant: Age 16 years old or older
How to open account: Branch only and by post
Special conditions: They will open an Everyday Saver account as part of this application. After 12 months any money you’ve saved in your Regular Saver plus interest will transfer into your Everyday Saver account and your Regular Saver will renew for another 12 months.

You can open the account by post as well.