Regular Savings Accounts: The Best Currently Available List!

allegro120

Nick_C said:

Absolutely dreadful article from "This Is Money" demonstrating complete financial ignorance.

If you understand RSAs, read it for a laugh.

"Tempted by a regular saver? We reveal how one deal with a 6.25% interest rate would get you LESS cash than an easy access account at 3.4%"

https://www.thisismoney.co.uk/money/saving/article-11844465/Regular-saver-rates-7-earn-cash-account-paying-half-that.html

It is very common in mainstream media for journalists/reporters to deliver the topics they have no or very little knowledge about.  It is a shame many people read these articles and trust them because they come from "reputable" source.

phillw

Nick_C said:

https://www.thisismoney.co.uk/money/saving/article-11844465/Regular-saver-rates-7-earn-cash-account-paying-half-that.html

Technically true, if you are only allowed one savings account and you keep the rest in cash under the bed.

I'm sure it will blow their minds when they realize you are allowed to have both a 3.4% easy access and a 6.25% regular saver.

happybagger

Vernon BS from 1 April

Open issue Regular Saver ISA 3.50% up to 25k, 2.8% on any balance in excess
Closed issue Regular Saver Reward 3.10% up to 25k, 2.40% on any balance in excess

Nothing worth having, but for anyone with the accounts

source

bristolleedsfan

ForumUser7 said:

Band7 said:

I wonder how much longer this loophole will still exist, after it's been discussed to death and back on the Internet, and some people even rang Halifax to ask whether it was ok to do this! The 'renew' option is already not available for the RS in the app, only online. I reckon it's just a matter of time until it vanishes entirely.

For Halifax, it is permitted to close, and then open more than one within 12 months, I.e. the ts and cs do not say it isn’t allowed like they do for BoS and Lloyds. The CS reps confirmed the same, and said this is because you can only access funds upon closure, whereas with BoS you could just withdraw

Without the loophole AFAIK Halifax RS cannot be closed online

ForumUser7

bristolleedsfan said:

ForumUser7 said:

Band7 said:

I wonder how much longer this loophole will still exist, after it's been discussed to death and back on the Internet, and some people even rang Halifax to ask whether it was ok to do this! The 'renew' option is already not available for the RS in the app, only online. I reckon it's just a matter of time until it vanishes entirely.

For Halifax, it is permitted to close, and then open more than one within 12 months, I.e. the ts and cs do not say it isn’t allowed like they do for BoS and Lloyds. The CS reps confirmed the same, and said this is because you can only access funds upon closure, whereas with BoS you could just withdraw

Without the loophole AFAIK Halifax RS cannot be closed online

That's right. I closed it with an in-app chat agent, but I think branch over the counter was also an option. AFAIK, it's because of the requirement to have a balance of below £5 when closing online, and customers cannot withdraw funds from the account to be below this threshold

Velvet_Monkey

bristolleedsfan said:

ForumUser7 said:

Band7 said:

I wonder how much longer this loophole will still exist, after it's been discussed to death and back on the Internet, and some people even rang Halifax to ask whether it was ok to do this! The 'renew' option is already not available for the RS in the app, only online. I reckon it's just a matter of time until it vanishes entirely.

For Halifax, it is permitted to close, and then open more than one within 12 months, I.e. the ts and cs do not say it isn’t allowed like they do for BoS and Lloyds. The CS reps confirmed the same, and said this is because you can only access funds upon closure, whereas with BoS you could just withdraw

Without the loophole AFAIK Halifax RS cannot be closed online

I couldn't see a way online, other than

'renewing' into a different account. I phoned them and closed it, xferring the contents to the associated everyday saver.  24h later opened the new RS,
(and yet another everyday saver) and xferred (and then closed) the 'old' everyday saver out to other account. 

Wheres_My_Cashback

bristolleedsfan said:

ForumUser7 said:

Band7 said:

I wonder how much longer this loophole will still exist, after it's been discussed to death and back on the Internet, and some people even rang Halifax to ask whether it was ok to do this! The 'renew' option is already not available for the RS in the app, only online. I reckon it's just a matter of time until it vanishes entirely.

For Halifax, it is permitted to close, and then open more than one within 12 months, I.e. the ts and cs do not say it isn’t allowed like they do for BoS and Lloyds. The CS reps confirmed the same, and said this is because you can only access funds upon closure, whereas with BoS you could just withdraw

Without the loophole AFAIK Halifax RS cannot be closed online

Renew, then close online, open new RS 30 seconds later

Reg_Smeeton

happybagger said:

Vernon BS from 1 April

Open issue Regular Saver ISA 3.50% up to 25k, 2.8% on any balance in excess
Closed issue Regular Saver Reward 3.10% up to 25k, 2.40% on any balance in excess

Nothing worth having, but for anyone with the accounts

source

Excellent, that was the final account I had which was paying less than my mortgage rate, now just squeaked above it. I’ve got the same warm feeling inside as when I completed the Panini football sticker book as a lad….

allegro120

Wheres_My_Cashback said:

bristolleedsfan said:

ForumUser7 said:

Band7 said:

I wonder how much longer this loophole will still exist, after it's been discussed to death and back on the Internet, and some people even rang Halifax to ask whether it was ok to do this! The 'renew' option is already not available for the RS in the app, only online. I reckon it's just a matter of time until it vanishes entirely.

For Halifax, it is permitted to close, and then open more than one within 12 months, I.e. the ts and cs do not say it isn’t allowed like they do for BoS and Lloyds. The CS reps confirmed the same, and said this is because you can only access funds upon closure, whereas with BoS you could just withdraw

Without the loophole AFAIK Halifax RS cannot be closed online

Renew, then close online, open new RS 30 seconds later

Don't even have to close it, just transfer the funds to current account and send it somewhere else that pays a decent interest. The "renewed" accounts don't have any strings attached to them so can just sit there.  They can even be beneficial if you join YouGov bribe scheme

pantaiema

I just opened digital Regular Saver with NatWest. I have not seen this account in my online banking where I have my current ac. Will it be shown later or I need to do something to be shown on my online banking. 
Also is it possible to divert the SO from external account? Thanks