Regular Savings Accounts: The Best Currently Available List!

Beki88

If opening the 1st direct regular saver, is it better to open at the end of the month and pay in the full monthly amount, or because interest is paid daily does the opening date not matter? Thanks. 

surreysaver

Beki88 said:

If opening the 1st direct regular saver, is it better to open at the end of the month and pay in the full monthly amount, or because interest is paid daily does the opening date not matter? Thanks. 

Makes no difference, as First Direct Regular Saver is based on account month, not calendar month, so you pay in on the same date every month (subject to weekends etc)
Interest isn't paid daily, its paid annually 

Wheres_My_Cashback

Beki88 said:

If opening the 1st direct regular saver, is it better to open at the end of the month and pay in the full monthly amount, or because interest is paid daily does the opening date not matter? Thanks. 

Opening makes no difference due a/c not being PCM. SO is set at opening date.

Interest is calculated daily but added annually

Beki88

surreysaver said:

Beki88 said:

If opening the 1st direct regular saver, is it better to open at the end of the month and pay in the full monthly amount, or because interest is paid daily does the opening date not matter? Thanks. 

Makes no difference, as First Direct Regular Saver is based on account month, not calendar month, so you pay in on the same date every month (subject to weekends etc)
Interest isn't paid daily, its paid annually 

Sorry I meant calculated daily. Which I think is what it said. I've looked at that many accounts recently they are all merging in my head. Is it important that it's the same date every month? Thanks. 

kaMelo

Beki88 said:

surreysaver said:

Beki88 said:

If opening the 1st direct regular saver, is it better to open at the end of the month and pay in the full monthly amount, or because interest is paid daily does the opening date not matter? Thanks. 

Makes no difference, as First Direct Regular Saver is based on account month, not calendar month, so you pay in on the same date every month (subject to weekends etc)
Interest isn't paid daily, its paid annually 

Sorry I meant calculated daily. Which I think is what it said. I've looked at that many accounts recently they are all merging in my head. Is it important that it's the same date every month? Thanks. 

You don't get a choice.
A standing order is set up when you open the account, this pays money from your First Direct current account into the regular saver on the same date each month.  There is no other way to pay into the regular saver..

surreysaver

Beki88 said:

surreysaver said:

Beki88 said:

If opening the 1st direct regular saver, is it better to open at the end of the month and pay in the full monthly amount, or because interest is paid daily does the opening date not matter? Thanks. 

Makes no difference, as First Direct Regular Saver is based on account month, not calendar month, so you pay in on the same date every month (subject to weekends etc)
Interest isn't paid daily, its paid annually 

Sorry I meant calculated daily. Which I think is what it said. I've looked at that many accounts recently they are all merging in my head. Is it important that it's the same date every month? Thanks. 

If the date you pay in is important, then open it a day or two before the date you want the standing order to be set up.
The standing order is set up by First Direct, and you cannot change the day of the month the standing order goes out 

chris_the_bee

surreysaver said:

Beki88 said:

surreysaver said:

Beki88 said:

If opening the 1st direct regular saver, is it better to open at the end of the month and pay in the full monthly amount, or because interest is paid daily does the opening date not matter? Thanks. 

Makes no difference, as First Direct Regular Saver is based on account month, not calendar month, so you pay in on the same date every month (subject to weekends etc)
Interest isn't paid daily, its paid annually 

Sorry I meant calculated daily. Which I think is what it said. I've looked at that many accounts recently they are all merging in my head. Is it important that it's the same date every month? Thanks. 

If the date you pay in is important, then open it a day or two before the date you want the standing order to be set up.
The standing order is set up by First Direct, and you cannot change the day of the month the standing order goes out 

When is the SO paid if that date falls on a weekend or bank holiday?

RG2015

RG2015 said:

Re NatWest / RBS Digital Regular Savers.

Mine are still showing as 5.12% AER / 5.00% gross online and in app.

I guess these will be updated in due course.

Edit. This is a very good rate, but to get the best out of this account you should never withdraw any money.

They must know this and thus have a constant income stream adding to a decent existing balance.

Both RBS and NatWest now showing in the apps and online at the new rate of 6.00% gross / 6.17% AER.

AmityNeon

chris_the_bee said:

surreysaver said:

Beki88 said:

surreysaver said:

Beki88 said:

If opening the 1st direct regular saver, is it better to open at the end of the month and pay in the full monthly amount, or because interest is paid daily does the opening date not matter? Thanks. 

Makes no difference, as First Direct Regular Saver is based on account month, not calendar month, so you pay in on the same date every month (subject to weekends etc)
Interest isn't paid daily, its paid annually 

Sorry I meant calculated daily. Which I think is what it said. I've looked at that many accounts recently they are all merging in my head. Is it important that it's the same date every month? Thanks. 

If the date you pay in is important, then open it a day or two before the date you want the standing order to be set up.
The standing order is set up by First Direct, and you cannot change the day of the month the standing order goes out 

When is the SO paid if that date falls on a weekend or bank holiday?

The next working day. The SO payments are not limited by calendar months; deposits into the Regular Saver are limited by the Standing Orders.

piker57

surreysaver said:

Beki88 said:

surreysaver said:

Beki88 said:

If opening the 1st direct regular saver, is it better to open at the end of the month and pay in the full monthly amount, or because interest is paid daily does the opening date not matter? Thanks. 

Makes no difference, as First Direct Regular Saver is based on account month, not calendar month, so you pay in on the same date every month (subject to weekends etc)
Interest isn't paid daily, its paid annually 

Sorry I meant calculated daily. Which I think is what it said. I've looked at that many accounts recently they are all merging in my head. Is it important that it's the same date every month? Thanks. 

If the date you pay in is important, then open it a day or two before the date you want the standing order to be set up.
The standing order is set up by First Direct, and you cannot change the day of the month the standing order goes out 

I don't wish to offend you surreysaver, but you can change the date of the standing order, as we did that for both mine and my partner's accounts.

It also makes a difference (albeit not a huge amount) when you pay into the account, because although the interest is only paid 12 months after you opened the account, interest accrued is calculated daily, the details are here  https://www.firstdirect.com/savings-and-investments/savings/regular-saver-account/