Regular Savings Accounts: The Best Currently Available List!

Elvie100

schiff said:

typistretired said:

Today 24th April 2020.  The money is now in my bank account   £64.75 interest.

My interest is added (£64.88, 29p less than the amount suggested in their maturity letter!) but I couldn't spot the withdrawal button. As it's weekend I've left it. After all I may get 29p extra on Monday!

They added 30p to mine as interest on transfer.  I logged in today and was able to view the closed account. It matched the amount they told me in the letter.

margaretx9

Every_Penny_Counts said:

Re Saffron RS issue 3
My RS was due for today, the 25th. Wasn’t expecting the payout until Monday but was pleasantly surprised to find they paid out today. 

EPC

I notice they have no replacement regular saver bar the smart saver paying 4% but limited to only £50 a month. So for a whole year you would earn a grand maximum interest total of £13!
They also have this odd policy now of local postcodes only - which excludes long term existing members living elsewhere.  Most societies with locals policies allow existing members to open accounts to.
I used to have a Saffron branch half a mile away from where I live and I haven't moved - but London E postcodes are ineligible. Wasn't my fault they shut the Stratford branch - its in historic Essex so part of their historic operating area.  I didn't leave Saffron's operating area - their Board did (presumably to raise money for pay rises and bonuses)! 

Fingerbobs

Elvie100 said:

schiff said:

typistretired said:

Today 24th April 2020.  The money is now in my bank account   £64.75 interest.

My interest is added (£64.88, 29p less than the amount suggested in their maturity letter!) but I couldn't spot the withdrawal button. As it's weekend I've left it. After all I may get 29p extra on Monday!

They added 30p to mine as interest on transfer.  I logged in today and was able to view the closed account. It matched the amount they told me in the letter.

MonBS - my maturity date was today, and my interest has been added to the account this morning, matching the amount in the letter. I'm just going to allow the maturity instructions to take effect, presumably on Monday now.
EDIT: Money appeared in my bank account at some point between 15:00 and 15:30 on Monday. Can't fault that service. 

[Deleted User]

JamesRobinson48 said:

colsten said:

I have yet to receive my notice from them. Do they allow early closure? 

I've also had a letter from Scottish Building Society.  My T&Cs from August 2019 indicate that you can close the account without penalty before the anniversary date, and that part withdrawals are not allowed.  I'm going to let mine run off, but I'll probably cut my monthly deposit to a nominal £ amount.

I only opened my Scottish BS Regular Saver in late Feb, paying in £500 per month. The drop in interest rate from 2% to 1,35% from 15th May is disappointing but I think that I will keep the account and also continue with deposits at £500 a month. I already have all the available fixed rate RS accounts. My Marcus account will drop on 7 May from 1.45% to 1.35% (underlying rate 1.20% and bonus of 0.15%), then to 1.20% when the bonus ends for me in late July. This will result in the 1.35% on the Scottish BS account (assuming no further drops) being fairly competitive for what is in essence instant access (account can be closed without penalty at any time). 

karlie88

Bobblehat said:

Don't think I've seen this on here yet …. Furness BS dropping interest rates by 0.5% on many variable rate Savings Accounts on 1st May. They say they would write before 16th April …. no sign of any communication from them here at Bobblehat Villa! If my branch opened RS goes down to 2% @ £500pm I'll still keep it.

https://www.furnessbs.co.uk/mortgages/bank-of-england-rate-change/

I've been reliably informed that Furness BS will not be reducing the rate on their (now closed) 2.5% reg saver based on latest BoE interest rate cuts.
Fair play to them.

xylophone

And the maturity date was ?

Friday 24 April (same day as proceeds received).

bsms1147

"Dudley Building Society Loyalty Regular Saver"
"Special conditions: You must also hold any savings account or a mortgage with them to open this account."
Worth pointing out that you must have "held a live savings account or have completed a Mortgage with the Society prior to 01/11/2018." to be eligible.

JamesRobinson48

bsms1147 said:

"Dudley Building Society Loyalty Regular Saver"
"Special conditions: You must also hold any savings account or a mortgage with them to open this account."
Worth pointing out that you must have "held a live savings account or have completed a Mortgage with the Society prior to 01/11/2018." to be eligible.

I don't qualify for that one, so I've applied instead for their separate "Society Anniversary Saver" RS product. Its 1.60% variable rate has survived a recent round of cuts, the £600 monthly max seems worthwhile, and this account seems quite flexible, e.g. it can be closed at any time without penalty. I know there are still some better RS products out there ... but I've already got them all!

sharpinf

Quick question for Monmouthshire RS, it states to pay in use "Monmouthshire Building Society" as the account name, but my bank only allows 16 characters (i.e. "Monmouthshire Bu") for a payee name. Does anyone know if this will cause issues please? Thanks

where_are_we

sharpinf said:

Quick question for Monmouthshire RS, it states to pay in use "Monmouthshire Building Society" as the account name, but my bank only allows 16 characters (i.e. "Monmouthshire Bu") for a payee name. Does anyone know if this will cause issues please? Thanks

  I put in "Monmouthshire BS" - not had any problems.

The character limitation on online banking is irksome.