Regular Savings Accounts: The Best Currently Available List!

ForumUser7

veryintrigued said:

Band7 said:

 I have now figured out how to get second Halifax and BOS Regular Savers, so I won't now bother with the 3.75% MonBS RS. Many thanks to whoever it was who first mentioned it might be possible to double up on Halifax and BOS.

Intrigued by this.

*veryintrigued by this 😂

*Edit - seriously though, I’d be interested to learn how to do this too please @Band7

Band7

veryintrigued said:

Band7 said:

 I have now figured out how to get second Halifax and BOS Regular Savers, so I won't now bother with the 3.75% MonBS RS. Many thanks to whoever it was who first mentioned it might be possible to double up on Halifax and BOS.

Intrigued by this.

so was I. I had to read, re-read and re-read the posts many times, and then re-read them again before I was able to figure out a way that worked for me. I don't think there's a universal approach to it but it can be made to work with some out-of-the-box thinking

Sensory

https://forums.moneysavingexpert.com/discussion/comment/79627095#Comment_79627095

https://forums.moneysavingexpert.com/discussion/comment/79656070#Comment_79656070

kaMelo

The problem being they may (will) eventually get merged.
I have two separate logins for Halifax, (one from a credit card years ago) Whichever one I use I end up in the same place, showing every account I currently have and statements for any accounts, both currently open and long since closed accounts, going back years.

SAC2334

katejo said:

I have a current regular saver with First Direct. Got a message yesterday to say that my interest is going up to 7%

Yes me too 7% , save between £25 and £300 for 12 months. I ve never been that keen on regular savings accounts but this one is well worth doing. 
Must already hold a First direct 1st Account .Can only be opened in sole names , only one account per person
.Can only credit the account by standing order.
Thats a problem as my drip feed via Santander E saver does not do standing orders

 .Can someone advise me as I m new to drip feeding into a regular saver. I t looks like all savings accounts cannot do standing orders or direct debits . 
To send £300 every month from a savings account I send the £300 every month from Santander Esaver to my First direct current account and then onto the First Direct regular saver ? Is that how a drip feed works ?

Sensory

kaMelo said:

The problem being they may (will) eventually get merged.
I have two separate logins for Halifax, (one from a credit card years ago) Whichever one I use I end up in the same place, showing every account I currently have and statements for any accounts, both currently open and long since closed accounts, going back years.

I don't see a problem unless they decide to close the duplicate accounts without paying interest, which is possible if they actively push for enforcing their T&Cs, but I doubt they will. Lloyds hasn't yet caused a stir for those who closed/re-opened Monthly Savers within 12 months. I'm happy to take advantage of loopholes whilst they're available.

cricidmuslibale

SAC2334 said:

katejo said:

I have a current regular saver with First Direct. Got a message yesterday to say that my interest is going up to 7%

Yes me too 7% , save between £25 and £300 for 12 months. I ve never been that keen on regular savings accounts but this one is well worth doing. 
Must already hold a First direct 1st Account .Can only be opened in sole names , only one account per person
.Can only credit the account by standing order.
Thats a problem as my drip feed via Santander E saver does not do standing orders

 .Can someone advise me as I m new to drip feeding into a regular saver. I t looks like all savings accounts cannot do standing orders or direct debits . 
To send £300 every month from a savings account I send the £300 every month from Santander Esaver to my First direct current account and then onto the First Direct regular saver?Is that how a drip feed works ?

Yes, in this case it is how it works. If you send the £300 every month from your Santander Esaver to your First Direct current account on, for example, the 3rd day of the month, and then if there is a standing order (set up by FD) of £300 from your First Direct current account into the regular saver on the 8th day of the month (to allow for long weekends such as Easter) then you can be pretty sure that the whole process will work as smoothly as possible, and you will be making monthly deposits by standing order into the 7% regular saver without having to go to the trouble of doing each deposit manually, which is not actually allowed in this case anyway.

When you apply for the regular saver, First Direct will in fact automatically set up a standing order from the current account into the regular saver, which will be dated on the same day of the month as the day you open the regular saver.

kaMelo

Sensory said:

kaMelo said:

The problem being they may (will) eventually get merged.
I have two separate logins for Halifax, (one from a credit card years ago) Whichever one I use I end up in the same place, showing every account I currently have and statements for any accounts, both currently open and long since closed accounts, going back years.

I don't see a problem unless they decide to close the duplicate accounts without paying interest, which is possible if they actively push for enforcing their T&Cs, but I doubt they will. Lloyds hasn't yet caused a stir for those who closed/re-opened Monthly Savers within 12 months. I'm happy to take advantage of loopholes whilst they're available.

I'd agree that they have been rather lax at implementing terms for numerous reasons for years.
It's just those other things would take a little bit of investigating whereas this, well it kind of sits there looking you (and anyone who bothered to look) in the face, you can't miss it. That's the gamble I guess. 

Band7

kaMelo said:

Sensory said:

kaMelo said:

The problem being they may (will) eventually get merged.
I have two separate logins for Halifax, (one from a credit card years ago) Whichever one I use I end up in the same place, showing every account I currently have and statements for any accounts, both currently open and long since closed accounts, going back years.

I don't see a problem unless they decide to close the duplicate accounts without paying interest, which is possible if they actively push for enforcing their T&Cs, but I doubt they will. Lloyds hasn't yet caused a stir for those who closed/re-opened Monthly Savers within 12 months. I'm happy to take advantage of loopholes whilst they're available.

I'd agree that they have been rather lax at implementing terms for numerous reasons for years.
It's just those other things would take a little bit of investigating whereas this, well it kind of sits there looking you (and anyone who bothered to look) in the face, you can't miss it. That's the gamble I guess. 

Not really very different to having more than the max allowed number of Halifax Reward accounts. They also sit there looking you in the face - in my case for many years, and they have all survived the merger of two profiles. You're right, it's a gamble but one I am willing to take.

kaMelo

Band7 said:

kaMelo said:

Sensory said:

kaMelo said:

The problem being they may (will) eventually get merged.
I have two separate logins for Halifax, (one from a credit card years ago) Whichever one I use I end up in the same place, showing every account I currently have and statements for any accounts, both currently open and long since closed accounts, going back years.

I don't see a problem unless they decide to close the duplicate accounts without paying interest, which is possible if they actively push for enforcing their T&Cs, but I doubt they will. Lloyds hasn't yet caused a stir for those who closed/re-opened Monthly Savers within 12 months. I'm happy to take advantage of loopholes whilst they're available.

I'd agree that they have been rather lax at implementing terms for numerous reasons for years.
It's just those other things would take a little bit of investigating whereas this, well it kind of sits there looking you (and anyone who bothered to look) in the face, you can't miss it. That's the gamble I guess. 

Not really very different to having more than the max allowed number of Halifax Reward accounts. They also sit there looking you in the face - in my case for many years, and they have all survived the merger of two profiles. You're right, it's a gamble but one I am willing to take.

Having those multiple reward accounts could have been legitimate though, when they implemented the rule on a maximum number they didn't force anyone who already had more to close any. As I said, if someone did a bit of digging they could work it out but a bit of digging they had to do.to be sure, and no one did any digging. 

To be clear I'm not being critical of anyone, knock yourself out. I'm certainly no saint either as my ridiculously long list of now empty Virgin Money accounts in my spreadsheet will testify. I just think it's important to make an informed choice  people need to know the rules, how easy it is to circumvent them and the potential consequences for doing so. 
That's for each and ever person to make their own decision as to when they think a line is crossed.