Regular Savings Accounts: The Best Currently Available List!

10_66

financialbliss said:

After querying no rate change after two BoE decisions, I've been told by a Stafford Railway Building Society agent that their regular saver is going from 2.50% to 3.75%, ie an increase of 1.25%, but not until 1st January 2023.

In two minds what to do here - open ended RS with £500 pcm deposit. Stick it out until January or close.

I got fed up of waiting for them to do something, so on Wednesday, I posted my request to withdraw all but min balance but kept min monthly payments going in.  I haven't got the energy to ring them to try to stop the withdrawal, because God knows when they'll get the passbook with the postal strikes.  I'd kept it open due to the possibility of a rate increase.

Bridlington1

10_66 said:

financialbliss said:

After querying no rate change after two BoE decisions, I've been told by a Stafford Railway Building Society agent that their regular saver is going from 2.50% to 3.75%, ie an increase of 1.25%, but not until 1st January 2023.

In two minds what to do here - open ended RS with £500 pcm deposit. Stick it out until January or close.

I got fed up of waiting for them to do something, so on Wednesday, I posted my request to withdraw all but min balance but kept min monthly payments going in.  I haven't got the energy to ring them to try to stop the withdrawal, because God knows when they'll get the passbook with the postal strikes.  I'd kept it open due to the possibility of a rate increase.

I emptied mine barring the minimum balance just over a month ago. They are pretty quick with processing withdrawals. I sent my passbook and a letter requesting the withdrawal off on the Monday and received my cheque and passbook back on the Wednesday.

Snapdragon

I've seen several mentions on this thread of being able to register for BOS by using your Halifax account details in order to apply for the BOS RS, however I have reservations about how this works in practice. Having been caught out by the HSBC 3% saver account which can be opened if you have another savings account with HSBC, but is actually completely useless once opened, because you can't withdraw any money from it, without also having their current account (which I switched elsewhere ages ago, leaving just the old basic saver account). 

Can anyone confirm, are you able to set up payees on the BOS regular saver (which you couldn't on the HSBC saver account) to enable you to withdraw to an external account, if you don't have a BOS current account?

Ed-1

Snapdragon said:

I've seen several mentions on this thread of being able to register for BOS by using your Halifax account details in order to apply for the BOS RS, however I have reservations about how this works in practice. Having been caught out by the HSBC 3% saver account which can be opened if you have another savings account with HSBC, but is actually completely useless once opened, because you can't withdraw any money from it, without also having their current account (which I switched elsewhere ages ago, leaving just the old basic saver account). 

Can anyone confirm, are you able to set up payees on the BOS regular saver (which you couldn't on the HSBC saver account) to enable you to withdraw to an external account, if you don't have a BOS current account?

You'll presumably have a Halifax current account to transfer into.

chris_the_bee

Snapdragon said:

I've seen several mentions on this thread of being able to register for BOS by using your Halifax account details in order to apply for the BOS RS, however I have reservations about how this works in practice. Having been caught out by the HSBC 3% saver account which can be opened if you have another savings account with HSBC, but is actually completely useless once opened, because you can't withdraw any money from it, without also having their current account (which I switched elsewhere ages ago, leaving just the old basic saver account). 

Can anyone confirm, are you able to set up payees on the BOS regular saver (which you couldn't on the HSBC saver account) to enable you to withdraw to an external account, if you don't have a BOS current account?

Yes you can. You can also transfer to your Halifax Everyday or Instant Saver, thence to any outside account.

adindas

Sensory said:

adindas said:

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.

If you already have 2x Halifax RS, you should already have two separate online banking profiles, which means you should also be able to have 2x BOS RS.

It sounds like you applied for a new Halifax current account, and in the process created a new online banking profile that wasn't linked to your existing accounts. This then allowed you to apply for a second Halifax RS. If this is the case, try registering for BOS online banking using the details of the new current account (from your second profile).

(I have 2x Halifax RS and 2x BOS RS.)

Thank I just did that a few minutes ago without the need to open a new BOS account, just using the existing Halifax account.

First payment went today, the next payment by SO to start on December 1, 2022.

I now have 2x Halifax RSs and 2x BOS MSs.

Snapdragon

Ed-1 said:

Snapdragon said:

I've seen several mentions on this thread of being able to register for BOS by using your Halifax account details in order to apply for the BOS RS, however I have reservations about how this works in practice. Having been caught out by the HSBC 3% saver account which can be opened if you have another savings account with HSBC, but is actually completely useless once opened, because you can't withdraw any money from it, without also having their current account (which I switched elsewhere ages ago, leaving just the old basic saver account). 

Can anyone confirm, are you able to set up payees on the BOS regular saver (which you couldn't on the HSBC saver account) to enable you to withdraw to an external account, if you don't have a BOS current account?

You'll presumably have a Halifax current account to transfer into.

Yes 3 Halifax reward accounts, but nothing with BOS. I wasn't clear from what I'd read, will signing up for BOS with my Halifax profile mean it will show as another RS in the Halifax app and be able to withdraw to one of my Halifax accounts? Or would I be stuck as I was with the HSBC account that had no attached current account and therefore no means to choose where to withdraw to.

Ed-1

Snapdragon said:

Ed-1 said:

Snapdragon said:

I've seen several mentions on this thread of being able to register for BOS by using your Halifax account details in order to apply for the BOS RS, however I have reservations about how this works in practice. Having been caught out by the HSBC 3% saver account which can be opened if you have another savings account with HSBC, but is actually completely useless once opened, because you can't withdraw any money from it, without also having their current account (which I switched elsewhere ages ago, leaving just the old basic saver account). 

Can anyone confirm, are you able to set up payees on the BOS regular saver (which you couldn't on the HSBC saver account) to enable you to withdraw to an external account, if you don't have a BOS current account?

You'll presumably have a Halifax current account to transfer into.

Yes 3 Halifax reward accounts, but nothing with BOS. I wasn't clear from what I'd read, will signing up for BOS with my Halifax profile mean it will show as another RS in the Halifax app and be able to withdraw to one of my Halifax accounts? Or would I be stuck as I was with the HSBC account that had no attached current account and therefore no means to choose where to withdraw to.

The Halifax and BOS accounts all appear together.

adindas

Snapdragon said:

I've seen several mentions on this thread of being able to register for BOS by using your Halifax account details in order to apply for the BOS RS, however I have reservations about how this works in practice. Having been caught out by the HSBC 3% saver account which can be opened if you have another savings account with HSBC, but is actually completely useless once opened, because you can't withdraw any money from it, without also having their current account (which I switched elsewhere ages ago, leaving just the old basic saver account). 

Can anyone confirm, are you able to set up payees on the BOS regular saver (which you couldn't on the HSBC saver account) to enable you to withdraw to an external account, if you don't have a BOS current account?

WHen you move money between various saving account and Current account between BOS and Halifax and vice versa you could do like an internal transfer, so it is treated as internal transfer.

happybagger

financialbliss said:

After querying no rate change after two BoE decisions, I've been told by a Stafford Railway Building Society agent that their regular saver is going from 2.50% to 3.75%, ie an increase of 1.25%, but not until 1st January 2023.

In two minds what to do here - open ended RS with £500 pcm deposit. Stick it out until January or close.

Intention here is clearly to cover themselves in the event of a rate change in December, they now won't take any notice of it. That way the eighy directors of the single-office building society can have a nice Xmas and New Year without need to concern themselves with the day job 

Like others, I had dropped to the min. I won't increase now; will wait and see what others do by Jan 1st.