Regular Savings Accounts: The Best Currently Available List!

adindas

I already have a few BOS current AC. Does anyone know if there is a hard credit search to open a new BOS current account ? I want to take opportunity to open a second BOS Monthly saver but I do not want to risk a credit search for such small gain.

kaMelo

Halifax and Lloyds don't so, assuming they follow the same patterns, I would say no but that's not definite.

The problem may be your suggestion of 'another' monthly saver. You can only hold one no matter how many current accounts you have.

SPRichards

I opened a BOS current account in Oct and have not yet had a hard search added to my score, but have had an RBS and HSBC search added for accounts I opened the same day. Anecdotal, but seems there's no hard search.

adindas

kaMelo said:

Halifax and Lloyds don't so, assuming they follow the same patterns, I would say no but that's not definite.

Thanks for the info does anyone else could confirm about this ??

kaMelo said:

The problem may be your suggestion of 'another' monthly saver. You can only hold one no matter how many current accounts you have.

I am not quite sure about this, but I read somewhere you could have another one BOS MS by applying with new profile.

I did that with Halifax for Switching incentive, and just recently taking another advantage opening a new one and I now have two Halifax RSAs.

Band7

Monmouthshire BS

They say they are running a 5 working day processing time for new account applications because they are overwhelmed with new applications. Even if Royal Mail ever get the applications to them, there's only a slim chance that the accounts get opened before December 1.

Bridlington1

Mansfield BS regular savings 30 account and regular esaver 30 to  rise from 2.25% to 3.5% from 1st December.

Band7

adindas said:

I already have a few BOS current AC. Does anyone know if there is a hard credit search to open a new BOS current account ? I want to take opportunity to open a second BOS Monthly saver but I do not want to risk a credit search for such small gain.

Hard search does appear on my CreditKarma

t1redmonkey

Band7 said:

Monmouthshire BS

They say they are running a 5 working day processing time for new account applications because they are overwhelmed with new applications. Even if Royal Mail ever get the applications to them, there's only a slim chance that the accounts get opened before December 1.

I wonder how they'd be overwhelmed so quickly though, seeing as that new 5.5% account just launched yesterday and is only available by branch/post (and there are currently postal strikes anyway).

surreysaver

silvercar said:

Section62 said:

silvercar said:

I’m new to this regular savings game, attracted by the interest rates. This maybe a stupid question, but if there are 2 savings accounts with MBS one paying 5.5% and one paying 3.75%, is the latter one only aimed at people who are maxing out after opening the higher paying one? Why would anyone want the 3.75% interest if they can open the 5.5%?

Yes, 3.75% is better than many of the alternatives on offer, so is worth considering.  The question is if the 5.5% account didn't exist, would you open the 3.75% one?

Band7 said:

silvercar said:

I’m new to this regular savings game, attracted by the interest rates. This maybe a stupid question, but if there are 2 savings accounts with MBS one paying 5.5% and one paying 3.75%, is the latter one only aimed at people who are maxing out after opening the higher paying one? Why would anyone want the 3.75% interest if they can open the 5.5%?

The 3.75% account may be of interest to people who have enough money to have maxed the 5.5% one, and all the other regular savers which pay more than 3.75%. 

Thanks, just wanted to check if I was missing something.

My bench mark for going down this route is currently 5%, so I wouldn't open the lower paying one. This is only my third one, I've recently opened NatWest and RBS regular savers.

I'm opening both, as I've maxed out the Barclays Blue Rewards 5% saver and all the others paying more than 3%

I recall that Monmouthshire is the one we have to wait until they've actually received the deposit before we can actually apply to see the account in online banking if I'm not mistaken?

Bridlington1

t1redmonkey said:

Band7 said:

Monmouthshire BS

They say they are running a 5 working day processing time for new account applications because they are overwhelmed with new applications. Even if Royal Mail ever get the applications to them, there's only a slim chance that the accounts get opened before December 1.

I wonder how they'd be overwhelmed so quickly though, seeing as that new 5.5% account just launched yesterday and is only available by branch/post (and there are currently postal strikes anyway).

They let you open the account in branch, so quite a few people will have gone to their local branch yesterday to open the accounts. There will also be a fair few people ringing them to ask questions about it so they possibly anticipate a surge in postal applications.

On top of that they also launched a premium saver at 3% yesterday, which lets you apply online, so they will be getting a lot of applications for that as well.