Regular Savings Accounts: The Best Currently Available List!

ForumUser7

Does Leeds BS allow ongoing online debit card deposits into their RSs, or is it only for the first deposit into a new account please?

Bridlington1

ForumUser7 said:

Does Leeds BS allow ongoing online debit card deposits into their RSs, or is it only for the first deposit into a new account please?

I'm pretty sure it's only the first deposit that can be made by debit card. I've certainly never been able to find an option in online banking to make further debit card deposits.

gt94sss2

ForumUser7 said:

My thinking is that they mean you cannot hold two RS issues (i.e. 37 and 38) at the same time.

You can only hold one?

Oops. Hadn't realised you couldn't have both issue 37 and 38.

I guess Leeds will close one themselves?

ForumUser7

gt94sss2 said:

ForumUser7 said:

My thinking is that they mean you cannot hold two RS issues (i.e. 37 and 38) at the same time.

You can only hold one?

Oops. Hadn't realised you couldn't have both issue 37 and 38.

I guess Leeds will close one themselves?

I don't hold any Leeds products myself yet, but the relevant term is:

"The account is limited to one account per customer (including joint accounts), and you may only hold one Leeds Building Society Regular Saver product at a time. If a second Regular Saver account is opened all funds in the second account will be transferred to the current instant access account available to new customers."

It just depends if they enforce it

glider3560

Question re Halifax Regular Saver.

I'd like to get access to the money.  Am I correct in saying that renewing the account into some type of instant access results in the accrued interest being paid immediately?

Trying to work out whether to do it now or on the 6th April, as I've exceeded my tax allowance for interest this year.

Bridlington1

ForumUser7 said:

gt94sss2 said:

ForumUser7 said:

My thinking is that they mean you cannot hold two RS issues (i.e. 37 and 38) at the same time.

You can only hold one?

Oops. Hadn't realised you couldn't have both issue 37 and 38.

I guess Leeds will close one themselves?

I don't hold any Leeds products myself yet, but the relevant term is:

"The account is limited to one account per customer (including joint accounts), and you may only hold one Leeds Building Society Regular Saver product at a time. If a second Regular Saver account is opened all funds in the second account will be transferred to the current instant access account available to new customers."

It just depends if they enforce it

Though it is open to interpretation a little bit. The product that term is from is helpfully just called "Regular Saver". Unless I'm going mad (which is perfectly possible) if you go onto the "Home Deposit Saver" the relevant term is "The account is limited to one account per customer", which I would interpret to mean you can only hold one home deposit saver at any one time.

From this it seems to me that you can only hold one "Regular Saver" of any issue and one "Home Deposit Saver" of any issue, which is in line with the Coventry BS terms.

I'm going to give my local branch a ring when they open to seek clarification on this though.

Bridlington1

glider3560 said:

Question re Halifax Regular Saver.

I'd like to get access to the money.  Am I correct in saying that renewing the account into some type of instant access results in the accrued interest being paid immediately?

Trying to work out whether to do it now or on the 6th April, as I've exceeded my tax allowance for interest this year.

Yes you are correct.

ForumUser7

Leeds BS Response:

"Hi ForumUser7, thanks for getting in touch, you would be able to open both the Regular Saver Issue 38 and the Home Deposit Saver at the same time. As per the conditions of the product you are correct in saying that you could only hold one Regular Saver at any time e.g. the 37 or 38. However, just to confirm you can open both the Regular Saver Issue 38 and the Home Deposit. Thanks, A Customer Service Agent."

Bridlington1

ForumUser7 said:

Leeds BS Response:

"Hi ForumUser7, thanks for getting in touch, you would be able to open both the Regular Saver Issue 38 and the Home Deposit Saver at the same time. As per the conditions of the product you are correct in saying that you could only hold one Regular Saver at any time e.g. the 37 or 38. However, just to confirm you can open both the Regular Saver Issue 38 and the Home Deposit. Thanks, A Customer Service Agent."

I've just had the same response myself.

One thing I have discovered in the process though is that with Leeds BS if you ring your local branch but the lines are busy you will get put straight through to their main call centre, which could prove useful if you don't get charged for local rate calls but do if you ring an 03 number.

BestSeagull

ForumUser7 said:

Leeds BS Response:

"Hi ForumUser7, thanks for getting in touch, you would be able to open both the Regular Saver Issue 38 and the Home Deposit Saver at the same time. As per the conditions of the product you are correct in saying that you could only hold one Regular Saver at any time e.g. the 37 or 38. However, just to confirm you can open both the Regular Saver Issue 38 and the Home Deposit. Thanks, A Customer Service Agent."

That's good news.  And it says " The Home Deposit Saver lets you earn a competitive rate of interest whilst building up the deposit needed for your first or next home. " so no need to be a first time buyer.