Regular Savings Accounts: The Best Currently Available List!

allegro120

ForumUser7 said:

To those who have a large RS portfolio, how have you found the Coventry RS 5 please? Does it tend to keep up with the others? Is it usually mid market? Does it ever get that far left behind?

I’m considering opening it to get some more EA funds into RSs, but I’m a bit wary due to the potential 30 day interest penalty upon withdrawal. I’m currently funding RSs paying as low as 4%, but that feels less risky because they allow limited withdrawals, or penalty free closure.

I’m wondering about opening it 1st June, to get the account month to correlate with a calendar month, but I don’t want it to be withdrawn before of course.

Thanks!

Can't comment on this specific issue (5). I have an old RS (NLA) that has no end date.  Running it since April 2010.  Also had other Coventry RSs running alongside in the past 10 years.  Sometimes they were at the top of the table, sometimes not very competitive (at the moment for example), but always delivered a decent rate (i.e. they never go ridiculously low).  This is why I never gave up my old Coventry RS, never made a withdrawal either.

ColdIron

I opened it after using the usual suspects paying a higher rate. It's not market leading but better than easy access and I like the larger £500 monthly contribution

ForumUser7 said:

but I’m a bit wary due to the potential 30 day interest penalty upon withdrawal. I’m currently funding RSs paying as low as 4%

If you have other regular savers, if push came to shove, you could raid the ones without penalty first. How likely is it that you would need access to all of them together?

Edit: It's increasing to 4.40% on the 1st of June

ForumUser7

Thanks everyone - I’ll give it a go. I’ve realised my first direct and HSBC standing orders are around this time of the month anyway, so I’ll open it now rather than waiting till 1st June in case it is withdrawn.

ColdIron said:

If you have other regular savers, if push came to shove, you could raid the ones without penalty first. How likely is it that you would need access to all of them together?

It’s unlikely I’d need to access them all, I only really move funds out of RSs to put into higher paying RSs. In terms of instant access funds, I have some funds in the flex direct at 5%, blue reward RDS at 5.12% and some in the TSB student account 5% (not eligible for HSBC Student with OD, CC etc. yet). These would all be raised first in case of emergency, then topped up from lower paying penalty free withdrawal RSs

Big_W

JamesRobinson48 said:

Monmouthshire BS has today withdrawn its Coronation Regular Saver Account (5.60% variable).

On the subject of Monmouthshire Coronation Regular Saver; We were aware of earlier IT problems with Monmouthshire. Thought these were fixed, but I then tried another "test" £10 standing order (I wasn't up to the monthly limit) that went on the 9th May, but did not appear in Monmouthshire's online banking until today 13th May - 4 days later.

Has anybody else noticed this continuing delay with payments to Monmouthshire, or with any other BS using the same IT platform that many smaller BS use?

ForumUser7

Big_W said:

JamesRobinson48 said:

Monmouthshire BS has today withdrawn its Coronation Regular Saver Account (5.60% variable).

On the subject of Monmouthshire Coronation Regular Saver; We were aware of earlier IT problems with Monmouthshire. Thought these were fixed, but I then tried another "test" £10 standing order (I wasn't up to the monthly limit) that went on the 9th May, but did not appear in Monmouthshire's online banking until today 13th May - 4 days later.

Has anybody else noticed this continuing delay with payments to Monmouthshire, or with any other BS using the same IT platform that many smaller BS use?

The times vary even between those that use the same platform.

I've sent payments into Bath BS RSs at midnight on a Tuesday that have showed by ~16:30 Tuesday.
Whereas HRBS I've sent at midnight on a Tuesday that have showed ~01:40 Thursday

With Monmouthshire BS, I've found payments I make in on a Monday at midnight show at some stage on the Tuesday - I cannot remember exactly when though.

All of the above were faster payments, not standing orders - but I don't know how much difference that would/should make.

flaneurs_lobster

Big_W said:

Has anybody else noticed this continuing delay with payments to Monmouthshire, or with any other BS using the same IT platform that many smaller BS use?

I'd like to have gotten this far, opened Coronation RS by post in April, received passbook etc. Applied for online access and have been waiting for the necessary credentials to be sent by mail ever since. 

Couple of calls to their charming CS have elicited assurances that they are "in the post". 

Don't want to further fund this account until I can access online so both MonBS and me are missing out. 

Big_W

ForumUser7 said:

Big_W said:

JamesRobinson48 said:

Monmouthshire BS has today withdrawn its Coronation Regular Saver Account (5.60% variable).

On the subject of Monmouthshire Coronation Regular Saver; We were aware of earlier IT problems with Monmouthshire. Thought these were fixed, but I then tried another "test" £10 standing order (I wasn't up to the monthly limit) that went on the 9th May, but did not appear in Monmouthshire's online banking until today 13th May - 4 days later.

Has anybody else noticed this continuing delay with payments to Monmouthshire, or with any other BS using the same IT platform that many smaller BS use?

The times vary even between those that use the same platform.

I've sent payments into Bath BS RSs at midnight on a Tuesday that have showed by ~16:30 Tuesday.
Whereas HRBS I've sent at midnight on a Tuesday that have showed ~01:40 Thursday

With Monmouthshire BS, I've found payments I make in on a Monday at midnight show at some stage on the Tuesday - I cannot remember exactly when though.

All of the above were faster payments, not standing orders - but I don't know how much difference that would/should make.

Ta for the reply.  I don't get twitchy over the timescales you are quoting, but 4 days for me seems a bit much. I appreciate the difference between manual faster payments and standing orders.

Section62

ForumUser7 said:

To those who have a large RS portfolio, how have you found the Coventry RS 5 please? Does it tend to keep up with the others? Is it usually mid market? Does it ever get that far left behind?

I'm on my second one and have been quite happy with both.

The only thing to be aware of is it is an anniversary account, not a calendar one, and if you try paying money in before the anniversary date each month then the money will be returned to you.  For people who like their SO/payments to go out on the 1st (or payday) this can be an annoyance.

Big_W

flaneurs_lobster said:

Big_W said:

Has anybody else noticed this continuing delay with payments to Monmouthshire, or with any other BS using the same IT platform that many smaller BS use?

I'd like to have gotten this far, opened Coronation RS by post in April, received passbook etc. Applied for online access and have been waiting for the necessary credentials to be sent by mail ever since. 

Couple of calls to their charming CS have elicited assurances that they are "in the post". 

Don't want to further fund this account until I can access online so both MonBS and me are missing out. 

I understand the caution.  I didn't have this wait, as already registered with Monmouthshire online from accounts closed previously. 

subjecttocontract

flaneurs_lobster said:

Big_W said:

Has anybody else noticed this continuing delay with payments to Monmouthshire, or with any other BS using the same IT platform that many smaller BS use?

I'd like to have gotten this far, opened Coronation RS by post in April, received passbook etc. Applied for online access and have been waiting for the necessary credentials to be sent by mail ever since. 

Couple of calls to their charming CS have elicited assurances that they are "in the post". 

Don't want to further fund this account until I can access online so both MonBS and me are missing out. 

Yes me too. I've asked x3 times now for a MonBS user ID.....it has NEVER arrived. I also cannot access my MonBS account  online and I opened the first account last December. I'm not that bothered but I don't like being ignored.