Regular Savings Accounts: The Best Currently Available List!

FB13

I already have a HSBC current account. It has my DDs I use to get switching bonuses. If I was to open this regular saver but at some point in the next 12 months use the current account to switch to somewhere else, does anyone know what happens to the regular saver? 

Will HSBC close the regular saver at the point of the current account switch and pay me interest at the lower Flexible Saver rate? 

phillw

pecunianonolet said:

I can better put that in a 1y fix straight away e.g. 4.35% Atom and still make more but without all the fuss. 

Some of the regular savers are variable rate, as is Al Rayan. So your fixed rate might not make more. Who knows what will happen over the next 12 months.

pecunianonolet

Anyone an idea if I can fund Monmouthshire after account opening? The application form doesn't have any DD info on it to tell them from where to take the money. Will they be in touch for this info when account is opened?

londoner62

Suffolk BS 1 year saver @ 3.15%

https://www.suffolkbuildingsociety.co.uk/savings-products/1-year-regular-saver-31-01-24/?utm_campaign=New Products 1 December 2022&utm_medium=email&utm_source=CMA_IPSWICH BUILDING SOCIETY&utm_content=

Restricted to existing members or a new member resident in postcode areas IP, NR, CO, CM, CB or PE.

Band7

pecunianonolet said:

Anyone an idea if I can fund Monmouthshire after account opening? The application form doesn't have any DD info on it to tell them from where to take the money. Will they be in touch for this info when account is opened?

You won't be able to fund it by DD. 

But you will be able to fund it by one-off bank transfers or by SO. You will receive the payee details in the post, with your account confirmation and passbook.

Band7

FB13 said:

I already have a HSBC current account. It has my DDs I use to get switching bonuses. If I was to open this regular saver but at some point in the next 12 months use the current account to switch to somewhere else, does anyone know what happens to the regular saver? 

Will HSBC close the regular saver at the point of the current account switch and pay me interest at the lower Flexible Saver rate? 

You can only get money out of HSBC via an HSBC current account.

Best option is to choose a different current account for your switches.

gt94sss2

pecunianonolet said:

Anyone an idea if I can fund Monmouthshire after account opening? The application form doesn't have any DD info on it to tell them from where to take the money. Will they be in touch for this info when account is opened?

From their website:

Standing Orders and Electronic Transfer - To arrange a standing order or single electronic payment to your savings account, you’ll need to give your bank the following details:

Account Name: Monmouthshire Building Society

Sort Code: 40-05-30

Account Number: 14576608

Reference: XXXXXXXXXX (no spaces or hyphens - this is the Monmouthshire Building Society account number you wish to credit).

ForumUser7

Has anyone's Furness Building Society regular saver deposits made today arrived in the accounts yet please? Furness says they are credited manually by their Finance Department the next working day - given I made the transfer just after 00:00, I would class today 09:00-17:00 as the next working day, and therefore it should've been credited. If I made it at 09:00 I would class today as the same working day, and tomorrow as the next working day. Perhaps they count tomorrow as the next working day, even though the transfer was made before today's working hours, but I was wondering if anyone else has experienced the same issue, or if this is just normal. Thank you

chris_the_bee

ForumUser7 said:

Has anyone's Furness Building Society regular saver deposits made today arrived in the accounts yet please? Furness says they are credited manually by their Finance Department the next working day - given I made the transfer just after 00:00, I would class today 09:00-17:00 as the next working day, and therefore it should've been credited. If I made it at 09:00 I would class today as the same working day, and tomorrow as the next working day. Perhaps they count tomorrow as the next working day, even though the transfer was made before today's working hours, but I was wondering if anyone else has experienced the same issue, or if this is just normal. Thank you

Just after 00:00 is later than the previous days cut off of 17:00 and would therefor be processed the following day, ie. 24 + 9 hours after the transfer/payment.

ForumUser7

chris_the_bee said:

ForumUser7 said:

Has anyone's Furness Building Society regular saver deposits made today arrived in the accounts yet please? Furness says they are credited manually by their Finance Department the next working day - given I made the transfer just after 00:00, I would class today 09:00-17:00 as the next working day, and therefore it should've been credited. If I made it at 09:00 I would class today as the same working day, and tomorrow as the next working day. Perhaps they count tomorrow as the next working day, even though the transfer was made before today's working hours, but I was wondering if anyone else has experienced the same issue, or if this is just normal. Thank you

Just after 00:00 is later than the previous days cut off of 17:00 and would therefor be processed the following day, ie. 24 + 9 hours after the transfer/payment.

Ah right - thank you @chris_the_bee! I found a few society accounts that are supposed to reflect payments next working day reflect payments made just after 00:00 before close of business the same day, so I figured this was what it meant, and the same would apply with Furness. I.e. I thought, for example on a Friday if I made a deposit after 5pm, it would appear on the Monday after 9am but before 5pm. Sounds like from what you are saying it'd be Tuesday after 9am but before 5pm. So a payment made after 5pm one working day is treated as if it was received just before 5pm the next working day and therefore credited the next working day after that. I'll see what they do re backdating interest, but I have also requested some prepaid envelopes so may just deposit by cheque instead to avoid lost interest on the days it is neither in my current account, or my RS.