Regular Savings Accounts: The Best Currently Available List!

ChewyyBacca

refluxer said:

@ChewyyBacca The Nationwide Start To Save account doesn't require you to have a Nationwide current account but whether it's worth rejoining the NW for a £50/month RS that's only going to net you £33 after two years is up to you, I guess ! Their Flex RS isn't currently available.

Yes, I wonder that too. Also I wont be eligible for prize draw, if I start the account now in May.
A cursory glance at the product feature, I missed £50 per month while reading the product description.
The page on Start to Save isnt very clear. The account conditions are mentioned in terms of prize draw. It keeps saying atleast £25 but upto £50 per month for entry in some prize draw. And in terms and conditions it says & I quote '

• If you increase your balance by more than £50 in a month running up to a prize draw, you will not be entered for that prize draw.

One can deduce that you will be able to pay more than £50 pm in this regular saver.

ForumUser7

ChewyyBacca said:

ForumUser7 said:

Nationwide effective 1st May

Start to Save Issue 2 -> 5.25%
Flex RS -> 4.25%, but if 4 or more withdrawals 1.70%

ForumUser7 I had Nationwide account, which I switched out this year. I do not have any current account or any other product with them. Can I open this account 
1. without opening a Current account?
2. without any credit check?
3. Is there a cool off period, before which I cannot apply for Nationwide products since I just switched out of them?

Thanks

1) The Start to Save is available to all and not specifically existing members, however for ease of withdrawal a Nationwide Current account can be opened at a later date should you wish to do so. You would have to use their secure online form to open the StoS it by the looks of things, rather than internet banking.

2) There is a soft credit check, then if you wish to proceed, they do a hard credit check. The only account which may not incur such checks is the basic account, but I don’t know for sure if this is the case, and that particular account cannot be opened if you hold any CA with any provider in the UK

3) Not sure, I’ve requested to switch out an account from nationwide recently, but I still have current and savings accounts with them so I’ve never yet been in your position. This may be question to ask them, but you may not know for sure until you submit your application

As @refluxer said, Flex RS is NLA

allegro120

Band7 said:

ForumUser7 said:

Wheres_My_Cashback said:

I suspect MON have once again become overwhelmed and having problems.

My turnaround was extremely quick. Posted application 1st class Sat 22/04, cheque processed 25/4, passbook received 26/04.
I didn't request a/c to be added, it was done automaticallythis time.

However SO sent yesterday for both the Coronation and Xmas savers are still not showing online.

The oddest thing has happened - I've logged on today to check the maturity date, and my £299 deposit is no where to be seen, it's even gone from the transaction history! It's not returned to the CA either. Very odd, and most concerning

Looks they have some system and/or procedural problems. My deposit to the XMAS saver is till not showing, and my Coronation Saver with its two deposits has still not been added to online banking. No money has been returned. I expect they will sort it before long and backdate the deposits to the correct dates/

My both, Christmas and Coronation, 1st May deposits are showing.

ForumUser7

ChewyyBacca said:

refluxer said:

@ChewyyBacca The Nationwide Start To Save account doesn't require you to have a Nationwide current account but whether it's worth rejoining the NW for a £50/month RS that's only going to net you £33 after two years is up to you, I guess ! Their Flex RS isn't currently available.

Yes, I wonder that too. Also I wont be eligible for prize draw, if I start the account now in May.
A cursory glance at the product feature, I missed £50 per month while reading the product description.
The page on Start to Save isnt very clear. The account conditions are mentioned in terms of prize draw. It keeps saying atleast £25 but upto £50 per month for entry in some prize draw. And in terms and conditions it says & I quote '

• If you increase your balance by more than £50 in a month running up to a prize draw, you will not be entered for that prize draw.

One can deduce that you will be able to pay more than £50 pm in this regular saver.

You will be eligible for the February 2024 draw, if you fulfil the requirements - it’s the August one you’ll miss out on for sure.

@refluxer - I think that interest figure (£33) is for if £25 is deposited each month, not £50

https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php

Edit, nationwide says this:

“What would the estimated balance be after the 24-month term, based on 24 monthly deposits of £25 totalling £600?

Based on an interest rate of 5.25% AER/gross a year (variable), your estimated balance would be £633.26.”

So if @chewyybacca deposits £50PCM, interest will be greater 

ForumUser7

MonBS says that they are aware of the issue, and have been able to replicate it at their end. Their systems show the correct balances, but they can look on the online customer profiles and when doing this, they've discovered the error I reported. Their senior team are aware of it, and IT is looking into it and hope to have it fixed soon. At present, the best way to determine if a deposit has arrived is to contact them.

refluxer

ForumUser7 said:

@refluxer - I think that interest figure (£33) is for if £25 is deposited each month, not £50

Edit, nationwide says this:

“What would the estimated balance be after the 24-month term, based on 24 monthly deposits of £25 totalling £600?

Based on an interest rate of 5.25% AER/gross a year (variable), your estimated balance would be £633.26.”

So if @chewyybacca deposits £50PCM, interest will be greater 

Apologies - you're right. My mistake !

ForumUser7

surreysaver said:

Bridlington1 said:

ForumUser7 said:

Has anyone had their ecology rs dd debited from their current account for this month yet please? I have down it as due to go yesterday (catering for the BH - 2nd WD), but it didn’t go and hasn’t again today either. Thanks

I cancelled my Ecology regular saver due to a surplus of DDs. My Ecology easy access DD hasn't gone out yet though. Ecology have waited till 4th-5th of the month before debiting in the past irrespective of bank holidays so I wouldn't worry about it.

EDIT:
Has now gone through. 

Mine went out today. Don't forget the beginning of the month was a Bank Holiday, so may have delayed it by a day 

Just spoken with Ecology - turns out despite Barclay's clear and continued reassurance that Ecology wouldn't even know of the new details as it was all internal, and that the DDs for ecology in May would go out as normal, they cancelled the DD mandate on 27th April and set up another one, which due to the timing will first go out in June.

I'm not going to run around to find another DD I can move to Barclays to fix this, as I would have to move some from other accounts which would then be left DDless. I guess it'll be another complaint to Barclays - unbelievable 😑

Bridlington1

ForumUser7 said:

surreysaver said:

Bridlington1 said:

ForumUser7 said:

Has anyone had their ecology rs dd debited from their current account for this month yet please? I have down it as due to go yesterday (catering for the BH - 2nd WD), but it didn’t go and hasn’t again today either. Thanks

I cancelled my Ecology regular saver due to a surplus of DDs. My Ecology easy access DD hasn't gone out yet though. Ecology have waited till 4th-5th of the month before debiting in the past irrespective of bank holidays so I wouldn't worry about it.

EDIT:
Has now gone through. 

Mine went out today. Don't forget the beginning of the month was a Bank Holiday, so may have delayed it by a day 

Just spoken with Ecology - turns out despite Barclay's clear and continued reassurance that Ecology wouldn't even know of the new details as it was all internal, and that the DDs for ecology in May would go out as normal, they cancelled the DD mandate on 27th April and set up another one, which due to the timing will first go out in June.

I'm not going to run around to find another DD I can move to Barclays to fix this, as I would have to move some from other accounts which would then be left DDless. I guess it'll be another complaint to Barclays - unbelievable 😑

I would just set up an emergency DD with oneounddd.com to go out on 30th May if I were you. If you find another DD to cover it before the end of the month you can cancel the DD, if you don't find another DD by then you will at least recover some of the £5 monthly fee.

ForumUser7

Bridlington1 said:

ForumUser7 said:

surreysaver said:

Bridlington1 said:

ForumUser7 said:

Has anyone had their ecology rs dd debited from their current account for this month yet please? I have down it as due to go yesterday (catering for the BH - 2nd WD), but it didn’t go and hasn’t again today either. Thanks

I cancelled my Ecology regular saver due to a surplus of DDs. My Ecology easy access DD hasn't gone out yet though. Ecology have waited till 4th-5th of the month before debiting in the past irrespective of bank holidays so I wouldn't worry about it.

EDIT:
Has now gone through. 

Mine went out today. Don't forget the beginning of the month was a Bank Holiday, so may have delayed it by a day 

Just spoken with Ecology - turns out despite Barclay's clear and continued reassurance that Ecology wouldn't even know of the new details as it was all internal, and that the DDs for ecology in May would go out as normal, they cancelled the DD mandate on 27th April and set up another one, which due to the timing will first go out in June.

I'm not going to run around to find another DD I can move to Barclays to fix this, as I would have to move some from other accounts which would then be left DDless. I guess it'll be another complaint to Barclays - unbelievable 😑

I would just set up an emergency DD with oneounddd.com to go out on 30th May if I were you. If you find another DD to cover it before the end of the month you can cancel the DD, if you don't find another DD by then you will at least recover some of the £5 monthly fee.

Good idea - I will try and sort something, but I will also complain to Barclays to get a reimbursement of any loss.

Bridlington1

My Monmouthshire Coronation Regular saver passbook has just arrived. Cheque deposited 24/4/23 but no sign of it being debited from my account yet.

I'm certainly not complaining though as I've been earning interest on my £300 deposit in two accounts for over a week and counting so long may this sort of delay continue so far as I'm concerned.