Regular Savings Accounts: The Best Currently Available List!

MiserlyMartin

schiff said:

Darlington Reg Savers

The annual interest due on 31/12 has been credited today.

Looking at their website they say: "Savings accounts which are directly linked to and track the Bank Base Rate will increase by 0.50% on 1 January 2023."

Logged into my account and they are still at 3.50%. Doesn't look like ANY increase this time for the Darlington, which is pretty poor.

Should the index be updated to read:

"3.5% gross p.a. variable from 1st January 2023"  ??

happybagger

None of their open or closed RS accounts are "directly linked", (by that they mean "tracker" accounts)
Darlington have a habit of making changes on random days to random accounts. They tend not to stick with the 1st of the month. I'd hold fire with them. Although their closed "High Days" RS account suddenly started to fall behind so I ditched it.

Middle_of_the_Road

Natwest Digital regular saver,  Interest normally added on the 1st of the month. Nothing showing yet. Thought it would have been credited today. 

Seems really slow going, at £150 max per month.  Three payments in, and £1.64 interest.
Thinking of going the First Direct route soon.

Bridlington1

Middle_of_the_Road said:

Natwest Digital regular saver,  Interest normally added on the 1st of the month. Nothing showing yet. Thought it would have been credited today. 

Seems really slow going, at £150 max per month.  Three payments in, and £1.64 interest.
Thinking of going the First Direct route soon.

Interest usually appears the second working day of the month, so it should show tomorrow.

ForumUser7

Middle_of_the_Road said:

Natwest Digital regular saver,  Interest normally added on the 1st of the month. Nothing showing yet. Thought it would have been credited today. 

Seems really slow going, at £150 max per month.  Three payments in, and £1.64 interest.
Thinking of going the First Direct route soon.

'Interest is calculated on a daily basis and paid into your account on the first business day of the month. You’ll be able to see and access the interest in your account on the following day.' ~ Source: https://www.natwest.com/savings/digital-regular-saver.html

I was confused too, as I'd written 1st of each month on my spreadsheet.

ForumUser7

happybagger said:

None of their open or closed RS accounts are "directly linked", (by that they mean "tracker" accounts)
Darlington have a habit of making changes on random days to random accounts. They tend not to stick with the 1st of the month. I'd hold fire with them. Although their closed "High Days" RS account suddenly started to fall behind so I ditched it.

When I queried rates with Darlington BS a few months ago, I was told their pricing committee sits at the end of each month to discuss rates. Hopefully they'll sit early January to make up for the likely missed December meeting, but who knows.

Middle_of_the_Road

Bridlington1 said:

Middle_of_the_Road said:

Natwest Digital regular saver,  Interest normally added on the 1st of the month. Nothing showing yet. Thought it would have been credited today. 

Seems really slow going, at £150 max per month.  Three payments in, and £1.64 interest.
Thinking of going the First Direct route soon.

Interest usually appears the second working day of the month, so it should show tomorrow.

Thanks, will look forward to about another 170p in the pot 

Middle_of_the_Road

ForumUser7 said:

Middle_of_the_Road said:

Natwest Digital regular saver,  Interest normally added on the 1st of the month. Nothing showing yet. Thought it would have been credited today. 

Seems really slow going, at £150 max per month.  Three payments in, and £1.64 interest.
Thinking of going the First Direct route soon.

'Interest is calculated on a daily basis and paid into your account on the first business day of the month. You’ll be able to see and access the interest in your account on the following day.' ~ Source: https://www.natwest.com/savings/digital-regular-saver.html

I was confused too, as I'd written 1st of each month on my spreadsheet.

Thanks, makes sense now. 

Patrington

ForumUser7 said:

Middle_of_the_Road said:

Natwest Digital regular saver,  Interest normally added on the 1st of the month. Nothing showing yet. Thought it would have been credited today. 

Seems really slow going, at £150 max per month.  Three payments in, and £1.64 interest.
Thinking of going the First Direct route soon.

'Interest is calculated on a daily basis and paid into your account on the first business day of the month. You’ll be able to see and access the interest in your account on the following day.' ~ Source: https://www.natwest.com/savings/digital-regular-saver.html

I was confused too, as I'd written 1st of each month on my spreadsheet.

About 22:00hrs tonight is my guess on previous months

david72

ForumUser7 said:

'Interest is calculated on a daily basis and paid into your account on the first business day of the month. You’ll be able to see and access the interest in your account on the following day.' ~ Source: https://www.natwest.com/savings/digital-regular-saver.html

I was confused too, as I'd written 1st of each month on my spreadsheet.

Sheesh, that's really pathetic. Have they got some antiquated coal fired (and possibly clockwork) computer system doing their back end processing?!

(I've opened a few accounts with various of the old school banks to take advantage of their attached savings accounts, and it really is astonishing quite how retro the back end systems of some of these clearly are, despite what superficial polish there might now be on the front end: unable to show interest payments, running balances, updated payees, etc, until daytime the following day (or even worse, sometimes the following 'working day'), no secure messaging, and so on… I guess there's a lot of 'legacy code' lurking there where most of the people who know/knew how it worked are retired (or foolishly cast off) or dead, and their current staff are (rightly) very scared to touch it, although that technical debt's going to lurk until someone faces up to it.)