Regular Savings Accounts: The Best Currently Available List!

jaypers

Halifax Regular Saver Question……I don’t have a current account with Halifax. Is the set-up linked to a nominated account etc? TIA.

Nick_C

@Zopa_Trooper

What you are experiencing with HSBC seems to have become normal when you open a new current account with one of the legacy banks. 

In the last 12 months I've opened new accounts with Barclays and NatWest, and had the same problems.  Multiple phone calls to get blocked payments released.  Sometimes two or three times in succession.

It is however worth the hassle if it gives you access to a savings account paying 5 or 6pc

I think the key to switching is never to switch an account that you rely on.  Switch secondary or spare accounts. 

MarkFromCornwall

jaypers said:

Halifax Regular Saver Question……I don’t have a current account with Halifax. Is the set-up linked to a nominated account etc? TIA.

I fund mine by a standing order from a Santander current account.

ForumUser7

Effective 1st June, Mansfield BS rates are increasing. Notably, their Regular eSaver 30 and Regular Saver 30 are increasing from 3.75% -> 4.25%

refluxer

jaypers said:

Halifax Regular Saver Question……I don’t have a current account with Halifax. Is the set-up linked to a nominated account etc? TIA.

I have one but don't have a Halifax current account. I don't remember setting up any specific linked account so you can pay into it from any account you like, IIRC.

They do open an 'Everyday Saver' account alongside it and money gets transferred to it on maturity. If you close the Everyday Saver (which I did immediately due to the poor rate) then your RS converts to one on maturity instead.

badger09

Bridlington1 said:

ForumUser7 said:

Not TOTP but for those with it for DD purposes, Ecology Regular Saver -> 3.30% from 3.05% effective 19/05/2023

If this is all Ecology can come up with I'm glad I axed it a few weeks ago to be honest.

Still a useful DD source though😉

Bridlington1

badger09 said:

Bridlington1 said:

ForumUser7 said:

Not TOTP but for those with it for DD purposes, Ecology Regular Saver -> 3.30% from 3.05% effective 19/05/2023

If this is all Ecology can come up with I'm glad I axed it a few weeks ago to be honest.

Still a useful DD source though😉

I'd agree that it's useful as a DD, this is a point I've raised many times before and I had maintained it for over a year for that purpose, though there are DDs with lower "running costs" so to speak such as plum, moneybox, the Ecology EA account etc. Out of my DDs the Ecology regular saver was the most expensive to maintain, even after this increase, and as I had a surplus of DDs it made sense to give it the chop.

allegro120

Bridlington1 said:

badger09 said:

Bridlington1 said:

ForumUser7 said:

Not TOTP but for those with it for DD purposes, Ecology Regular Saver -> 3.30% from 3.05% effective 19/05/2023

If this is all Ecology can come up with I'm glad I axed it a few weeks ago to be honest.

Still a useful DD source though😉

I'd agree that it's useful as a DD, this is a point I've raised many times before and I had maintained it for over a year for that purpose, though there are DDs with lower "running costs" so to speak such as plum, moneybox, the Ecology EA account etc. Out of my DDs the Ecology regular saver was the most expensive to maintain, even after this increase, and as I had a surplus of DDs it made sense to give it the chop.

By the end of July I will have 2 surplus DDs (end of TSB bonus condition) and I'm going to cancel MoneyBox and stop using my credit card, these can be turned back on quickly if I need them again.  I'm going to keep my Ecology RS for convenience. At current rates (Ecology RS vs Chip) it costs me 1p a month to maintain.

Band7

Staffordshire Railway BS regular saver

If you ever want to request a withdrawal by Faster Payment, you need to first have your nominated account registered and verified which can be done at any time.

On the SRBS upload link, you can upload

1. the completed nomination form and
2. a recent PDF bank statement for the nominated account, showing your name, address, sort code and account number

Alas, to request a withdrawal by Faster Payment, you will still have to post your Faster Payment withdrawal request form, together with your passbook.

Faster Payment withdrawals are promised by the end of the business day following acceptance of your withdrawal request but might arrive on the same day. Your passbook gets posted back by 1st class post. All a bit cumbersome.

Special_Saver2

Hi Folks,

I have updated page 1 of this thread.

- Monmouthshire BS Coronation Regular Saver withdrawn

- Kroo Current Account (feeder account section) interest rate increased to 3.60% AER (3.54% gross) variable on up to £85,000 from 1st June 2023

- Chase Saver Account (feeder account section) interest rate increased to 3.3% AER from 22nd May 2023

- Bath BS 16-25 Regular Saver interest rate increased to 6.95% gross p.a. variable from 1st June 2023

- Bath BS Homestart Regular Saver interest rate increased to 4.24% gross p.a. variable from 1st June 2023

- Principality BS First Home Steps Savings Account (Issue 3) or Principality BS First Home Steps Online Savings Account (Issue 2) interest rate increased to 3.55% - 4.25% gross p.a. variable (3.55% if your balance is £2,500, then 3.75% if your balance is £2,501 - £7,500 then 4.25% from £7,500 to £25,000)

- Principality BS Dylan Gift Saver interest rate increased to 4% gross p.a. variable

- Mansfield BS Regular Savings 30 (1st Issue), Mansfield BS Regular eSaver 30 (1st Issue) and Mansfield BS Young Regular Saver (3rd Issue) interest rate increased to 4.25% gross p.a. variable from 1st June 2023

- Santander Regular eSaver Account (Issue 17) paying 5% fixed on up to £200 per month for 12 months for their current account holders added

I am increasing the required threshold for inclusion on this list by 0.25% given the latest interest rate rise. This means in my first post on page 1, we now have this text: "I am only including accounts where the interest rate is 4.5% or better, or 4% if the account has favourable conditions (e.g. you can pay in £500 per month or more, or if the account matures after at least 2 years)." For the accounts already on page 1, I will wait until next month to see if their interest rate increases before removing any that now pay too low an interest rate for inclusion on this thread.
 
I will do the next update within the next 2 weeks.

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1