Regular Savings Accounts: The Best Currently Available List!

35har1old

PloughmansLunch said:

35har1old said:

Copy/pasted info from non-TSB banks

Standing orders are all well and good but I prefer to transfer money in directly for the first payment as soon as they are set up. This pasted info doesn’t address that with TSB a SO is set up but the saver isn’t automatically set up as a payee in a logical ‘move money between my accounts’ way that all other savers seem to be, and you can only do so e.g. to top up if you set the saver up in the same manner as an external payee. Even HSBC & First Direct have the savers added as a payee despite being funded through a SO from the current account, presumably for ease of topping up if the SO doesn’t take the monthly maximum in one go.

When opening your account with TSB you can only setup SO but this won't be dated on account opening day and it depends if you open on  a week day or weekend.

For example account open date 23-02-23 SO could be setup for 24-02-23 once paid change SO to 01-03-23
TSB account is visible after applying

FD
When you open the account with them its tells you it might be a few days before your account will be visible and they set the date of the first payment which continues for the duration of the term

35har1old

Band7 said:

PloughmansLunch said:

35har1old said:

Copy/pasted info from non-TSB banks

Standing orders are all well and good but I prefer to transfer money in directly for the first payment as soon as they are set up. This pasted info doesn’t address that with TSB a SO is set up but the saver isn’t automatically set up as a payee in a logical ‘move money between my accounts’ way that all other savers seem to be, and you can only do so e.g. to top up if you set the saver up in the same manner as an external payee. Even HSBC & First Direct have the savers added as a payee despite being funded through a SO from the current account, presumably for ease of topping up if the SO doesn’t take the monthly maximum in one go.

FD doesn't set up a payee for their RS, and you can't transfer money from your FD current to your FD RS, other than by the SO that FD set up for you. I don't know whether you'd be able to send a Faster Payment to the RS as I have always funded mine in full by SO.

HSBC also doesn't set up a payee for their RS but your RS appears as an internal account you can make a transfer to. Whether this actually works, I don't know, as mine are always funded in full by SO. 

Setting up a payee for the TSB RS takes but 30 seconds. I can't remember that they set up an SO for me - it might be an option that I declined because if I have a TSB RS (rarely), I feed it by SO from a non-TSB account. It could also be fed with manual Faster Payments.

Terms have changed for the current regular saver

Open with

You must set up a monthly standing order between £25 and up to £250 from a TSB current account. You can only make one payment each month into your account. £3,000 is the maximum that can be paid into your Monthly Saver.

Wheres_My_Cashback

In all the the 10+ years that I've had a TSB RS the terms have stated that a SO must come from a TSB current a/c, but in reality that isn't true, funds can come from any external a/c as mine have without any problems. TSB definitely don't set up SOs like FD do. 

When opening most RS fund on the day of opening via FP for the vast majority and set up a SO for subsequent payments on the 1st when PCM if concerned about the SO only being taken the day after opening.

Nat West digital requires set up of a S/O from your NW current a/c at initial opening. Simply set it up for the following month, but fund immediately via FP. You can then cancel the SO and fund via FP/SO from an external source for subsequent months.

Band7

35har1old said:

Band7 said:

PloughmansLunch said:

35har1old said:

Copy/pasted info from non-TSB banks

Standing orders are all well and good but I prefer to transfer money in directly for the first payment as soon as they are set up. This pasted info doesn’t address that with TSB a SO is set up but the saver isn’t automatically set up as a payee in a logical ‘move money between my accounts’ way that all other savers seem to be, and you can only do so e.g. to top up if you set the saver up in the same manner as an external payee. Even HSBC & First Direct have the savers added as a payee despite being funded through a SO from the current account, presumably for ease of topping up if the SO doesn’t take the monthly maximum in one go.

FD doesn't set up a payee for their RS, and you can't transfer money from your FD current to your FD RS, other than by the SO that FD set up for you. I don't know whether you'd be able to send a Faster Payment to the RS as I have always funded mine in full by SO.

HSBC also doesn't set up a payee for their RS but your RS appears as an internal account you can make a transfer to. Whether this actually works, I don't know, as mine are always funded in full by SO. 

Setting up a payee for the TSB RS takes but 30 seconds. I can't remember that they set up an SO for me - it might be an option that I declined because if I have a TSB RS (rarely), I feed it by SO from a non-TSB account. It could also be fed with manual Faster Payments.

Terms have changed for the current regular saver

Open with

You must set up a monthly standing order between £25 and up to £250 from a TSB current account. You can only make one payment each month into your account. £3,000 is the maximum that can be paid into your Monthly Saver.

Those terms have been there for as long as I can remember

Bridlington1

Band7 said:

35har1old said:

Band7 said:

PloughmansLunch said:

35har1old said:

Copy/pasted info from non-TSB banks

Standing orders are all well and good but I prefer to transfer money in directly for the first payment as soon as they are set up. This pasted info doesn’t address that with TSB a SO is set up but the saver isn’t automatically set up as a payee in a logical ‘move money between my accounts’ way that all other savers seem to be, and you can only do so e.g. to top up if you set the saver up in the same manner as an external payee. Even HSBC & First Direct have the savers added as a payee despite being funded through a SO from the current account, presumably for ease of topping up if the SO doesn’t take the monthly maximum in one go.

FD doesn't set up a payee for their RS, and you can't transfer money from your FD current to your FD RS, other than by the SO that FD set up for you. I don't know whether you'd be able to send a Faster Payment to the RS as I have always funded mine in full by SO.

HSBC also doesn't set up a payee for their RS but your RS appears as an internal account you can make a transfer to. Whether this actually works, I don't know, as mine are always funded in full by SO. 

Setting up a payee for the TSB RS takes but 30 seconds. I can't remember that they set up an SO for me - it might be an option that I declined because if I have a TSB RS (rarely), I feed it by SO from a non-TSB account. It could also be fed with manual Faster Payments.

Terms have changed for the current regular saver

Open with

You must set up a monthly standing order between £25 and up to £250 from a TSB current account. You can only make one payment each month into your account. £3,000 is the maximum that can be paid into your Monthly Saver.

Those terms have been there for as long as I can remember

I think @35har1old is referring to the maximum monthly deposit rising from £125 to £250 since this time last year.

35har1old

Band7 said:

35har1old said:

Band7 said:

PloughmansLunch said:

35har1old said:

Copy/pasted info from non-TSB banks

Standing orders are all well and good but I prefer to transfer money in directly for the first payment as soon as they are set up. This pasted info doesn’t address that with TSB a SO is set up but the saver isn’t automatically set up as a payee in a logical ‘move money between my accounts’ way that all other savers seem to be, and you can only do so e.g. to top up if you set the saver up in the same manner as an external payee. Even HSBC & First Direct have the savers added as a payee despite being funded through a SO from the current account, presumably for ease of topping up if the SO doesn’t take the monthly maximum in one go.

FD doesn't set up a payee for their RS, and you can't transfer money from your FD current to your FD RS, other than by the SO that FD set up for you. I don't know whether you'd be able to send a Faster Payment to the RS as I have always funded mine in full by SO.

HSBC also doesn't set up a payee for their RS but your RS appears as an internal account you can make a transfer to. Whether this actually works, I don't know, as mine are always funded in full by SO. 

Setting up a payee for the TSB RS takes but 30 seconds. I can't remember that they set up an SO for me - it might be an option that I declined because if I have a TSB RS (rarely), I feed it by SO from a non-TSB account. It could also be fed with manual Faster Payments.

Terms have changed for the current regular saver

Open with

You must set up a monthly standing order between £25 and up to £250 from a TSB current account. You can only make one payment each month into your account. £3,000 is the maximum that can be paid into your Monthly Saver.

Those terms have been there for as long as I can remember

Just checked back on last years terms you are correct the terms where the same as they are now.

Hadn't noticed the terms back then  i did not fund from a TSB account  last year. Apology's

silvercar

I’ve just checked my bank account and can see that the principality BS have been returning my monthly deposits from the regular saver I opened in December. Will have to investigate why. Has anyone else had this?

ForumUser7

silvercar said:

I’ve just checked my bank account and can see that the principality BS have been returning my monthly deposits from the regular saver I opened in December. Will have to investigate why. Has anyone else had this?

I haven't had that issue, and I hold a few RSs with them. Maybe double check the reference is inputted correct, the maximum monthly deposit, and that the account is showing on your principality dashboard. If that doesn't work, hopefully there is a note on their system that they can share if you call up. I remember I once had a payment not reach my account with them, because it was below the minimum initial deposit. They had it in a holding account, and they manually sent it back after I enquired, so chances are they've been manually sending back yours too.

35har1old

ForumUser7 said:

silvercar said:

I’ve just checked my bank account and can see that the principality BS have been returning my monthly deposits from the regular saver I opened in December. Will have to investigate why. Has anyone else had this?

I haven't had that issue, and I hold a few RSs with them. Maybe double check the reference is inputted correct, the maximum monthly deposit, and that the account is showing on your principality dashboard. If that doesn't work, hopefully there is a note on their system that they can share if you call up. I remember I once had a payment not reach my account with them, because it was below the minimum initial deposit. They had it in a holding account, and they manually sent it back after I enquired, so chances are they've been manually sending back yours too.

To make sure we receive the standing order payments by the end of each month you should ensure they leave your bank or building society account by the 20th of the month.

silvercar

ForumUser7 said:

silvercar said:

I’ve just checked my bank account and can see that the principality BS have been returning my monthly deposits from the regular saver I opened in December. Will have to investigate why. Has anyone else had this?

I haven't had that issue, and I hold a few RSs with them. Maybe double check the reference is inputted correct, the maximum monthly deposit, and that the account is showing on your principality dashboard. If that doesn't work, hopefully there is a note on their system that they can share if you call up. I remember I once had a payment not reach my account with them, because it was below the minimum initial deposit. They had it in a holding account, and they manually sent it back after I enquired, so chances are they've been manually sending back yours too.

Was user error! At least the money was promptly returned. I've missed out on December and January payments, though possibly December may not have reached them in time. All sorted now.