Regular Savings Accounts: The Best Currently Available List!

Kazza242

Kazza242 said:

According to Moneyfacts, Yorkshire Building Society are launching their Christmas 2023 Regular Saver, paying 4.50%.

The account matures on 31st October 2023.  It reverts into an Access Saver on maturity.

You can pay in between £1 - £300 per month.  The maximum investment is £3,000.

The account must be opened in branch or via the post.  Once opened the account can be managed online, via the branch or post.  

They will also be launching their Christmas 2023 Regular E-Saver, which will be available to open and operate online.

Moneyfacts states that one withdrawal is permitted per account year. 

https://www.ybs.co.uk/savings/regular-saver

Yorkshire Building Society have added their Christmas 2023 Regular Saver and Regular E-Saver, (paying 4.50%) to their website. 

Please see the links below:

Christmas 2023 Regular Saver: https://www.ybs.co.uk/savings/product?id=YB571651B
(Open in branch or via post)

Christmas 2023 Regular E-Saver: https://www.ybs.co.uk/savings/product?id=YB901652W
(Open online)

gt94sss2

Kazza242 said:

Kazza242 said:

According to Moneyfacts, Yorkshire Building Society are launching their Christmas 2023 Regular Saver, paying 4.50%.

The account matures on 31st October 2023.  It reverts into an Access Saver on maturity.

You can pay in between £1 - £300 per month.  The maximum investment is £3,000.

The account must be opened in branch or via the post.  Once opened the account can be managed online, via the branch or post.  

They will also be launching their Christmas 2023 Regular E-Saver, which will be available to open and operate online.

Moneyfacts states that one withdrawal is permitted per account year. 

https://www.ybs.co.uk/savings/regular-saver

Yorkshire Building Society have added their Christmas 2023 Regular Saver and Regular E-Saver, (paying 4.50%) to their website. 

Please see the links below:

Christmas 2023 Regular Saver: https://www.ybs.co.uk/savings/product?id=YB571651B
(Open in branch or via post)

Christmas 2023 Regular E-Saver: https://www.ybs.co.uk/savings/product?id=YB901652W
(Open online)

Does anyone know if you can open both versions?

It says one account per person but they seem to be different accounts?

Nick_C

gt94sss2 said:

Does anyone know if you can open both versions?

It says one account per person but they seem to be different accounts?

Yes.  Everyone who has read the product fact sheet knows the answer to this.  

"You can only hold one Christmas 2023 Regular eSaver or Christmas 2023 Regular Saver account in your name."

https://www.ybs.co.uk/productdata/Factsheet-YB901652W.pdf

Hoopra

gt94sss2 said:

Kazza242 said:

Kazza242 said:

According to Moneyfacts, Yorkshire Building Society are launching their Christmas 2023 Regular Saver, paying 4.50%.

The account matures on 31st October 2023.  It reverts into an Access Saver on maturity.

You can pay in between £1 - £300 per month.  The maximum investment is £3,000.

The account must be opened in branch or via the post.  Once opened the account can be managed online, via the branch or post.  

They will also be launching their Christmas 2023 Regular E-Saver, which will be available to open and operate online.

Moneyfacts states that one withdrawal is permitted per account year. 

Yorkshire Building Society have added their Christmas 2023 Regular Saver and Regular E-Saver, (paying 4.50%) to their website. 

Does anyone know if you can open both versions?

It says one account per person but they seem to be different accounts?

I chatted with their CS this morning and they said no, you can open either branch/post or online but not both

Hoopra

Nick_C said:

gt94sss2 said:

Does anyone know if you can open both versions?

It says one account per person but they seem to be different accounts?

Yes.  Everyone who has read the product fact sheet knows the answer to this.  

"You can only hold one Christmas 2023 Regular eSaver or Christmas 2023 Regular Saver account in your name."

Not necessarily everyone. To be fair, that statement (to me) is a little bit ambiguous. It doesn't actually say you can't hold both and could be read as saying you can hold one of each.

schiff

Yorkshire Christmas

Additional advantage is deposits by debit card - helpful for the Halifax etc monthly £5 reward.

Nick_C

schiff said:

Yorkshire Christmas

Additional advantage is deposits by debit card - helpful for the Halifax etc monthly £5 reward.

Yes, YBS allow deposits by Debit Card, but you lose two days interest (at 4.5% in this case).

To optimise the DC trick, deposit to an instant access saver towards the end of the month, and transfer to the higher interest RS at the start of the new month after the deposit has cleared.

Band7

Nick_C said:

schiff said:

Yorkshire Christmas

Additional advantage is deposits by debit card - helpful for the Halifax etc monthly £5 reward.

Yes, YBS allow deposits by Debit Card, but you lose two days interest (at 4.5% in this case).

To optimise the DC trick, deposit to an instant access saver towards the end of the month, and transfer to the higher interest RS at the start of the new month after the deposit has cleared.

Why not deposit into the higher rate account directly in the first place?

Also, if you leave your debit card transaction too late in the month, you might miss the Halifax etc cut-off. 


Though the strategy for using the Halifax etc debit cards isn't really a topic for Regular Savers, so best discussed in the relevant current account threads.

Nick_C

Band7 said:

Why not deposit into the higher rate account directly in the first place?

Also, if you leave your debit card transaction too late in the month, you might miss the Halifax etc cut-off. 


Though the strategy for using the Halifax etc debit cards isn't really a topic for Regular Savers, so best discussed in the relevant current account threads.

If you use a DC to deposit in the Xmas Regular Saver, you are losing 2 days interest at 4.5%

If you use a DC to deposit into a YBS instant access saver, you are losing 2 days interest at 2.75%

Its only 25p over 9 months, but its the optimal method.

In my experience, Halifax DC transactions clear the next working day.

So deposit into YBS on Monday 30 Jan using a Halifax DC and the funds will clear Halifax on Tue 31 Jan and be available in YBS on Wed 1 Feb.  On 1 Feb, you can transfer from your IASA to your Regular Saver and maximise the interest.

Only worth doing if you are time rich, as you can't set up YBS internal transfers in advance.

Hoopra

Nick_C said:

schiff said:

Yorkshire Christmas

Additional advantage is deposits by debit card - helpful for the Halifax etc monthly £5 reward.

Yes, YBS allow deposits by Debit Card, but you lose two days interest (at 4.5% in this case).

To optimise the DC trick, deposit to an instant access saver towards the end of the month, and transfer to the higher interest RS at the start of the new month after the deposit has cleared.

Genuine question, sorry if it's something considered to be well known. Is it true that you lose two days interest when paying by DC?

I opened an account online today and made an initial deposit via DC. I'm an existing online user and the new account showed up straight away in my online portal although it says set up is in progress and it will be visible tomorrow. On the app though it's fully visible with a balance equal to the amount I deposited via DC and there is a single "DC deposit" transaction shown dated today.

My bank has debited the full amount from my current account balance although the transaction itself is still listed as pending.

I don't think it makes any difference that this is an initial deposit for a new account, I'd expect the same thing to happen for a regular monthly contribution made by DC too, and from what I can see there's no reason I'd expect interest not to start accruing from today (assuming that it's done by looking at the transaction date shown by YBS and that that date is treated the same whether it was a DC, SO or FP payment type).

Not strictly relevant to this thread perhaps but it's my experience as well that Halifax DC payments to Revolut are available for spending instantly at the Revolut end, and also that the transaction is dated the same day by both Halifax and Revolut. This implies that there is no clearing delay there either although it's very possible there's something I'm not understanding correctly about all this.

Is there some reference somewhere that says anything different?