Regular Savings Accounts: The Best Currently Available List!

pookey

RG2015 said:

pookey said:

RG2015 said:

pookey said:

RG2015 said:

pookey said:

Zaul22 said:

Update on Natwest Round ups: Don't. Some people have got away with it but it is a gamble. I got the 'we are ending our banking relationship' letter just like the infamous LBG letter. I was only doing like 5 created round ups per week. I knew if I did too many they could do something but I am really surprised just how few they considered too many. I was also using it for legitimate spending as much if not more than created round ups. Maybe they saw the £2.25 payment to Eon and thought something is clearly wrong here. 

Thank you for letting us know. I was gonna open the account but was hesitating due to this

Why would this make you hesitate? It is a savings account. Many thousands will be running this account without any issues.

The problem appears to be NatWest objecting to a customer "contriving" rounds ups to increase the amounts deposited during a single month.

I wanted to do the round ups to get more interest but seems a bit risky if they may cancle the account. 

Okay, thanks for responding.

I think it’s a good account with an excellent rate. I have £2,251 so far in both NatWest and RBS without any round ups.

 Unless you do dozens of them it’s really just pennies extra .

The max you can transfer in is £150 per month right? How did you manage to get so much in there? Is it not for 1 year? 

There is no time limit. I have had the NatWest one since 2020. Originally it was only £50 per month and the top rate stopped at £1000.

Everyone stopped funding them when they reached £1000. Then they upped the top rate to £5000 and the monthly limit to £150.

Oh OK i didn't realise this. That does actually make it more worthwhile in the long run.
So I can open both the Natwest and rbs? 
I don't bank with either of them so are the accounts also for new customers please? 

pokemaster

Yes you can open a current account with Natwest and RBS and then open One Digital Regular Saver with each bank. (new customer or old customers)

Both Natwest and RBS (currently) have switching deals, if you happen to have a space current account you don't use and switch to either Natwest or RBS (and follow a few more easy steps) they will give you  £200 in to your account

JUST REMEMBER: Don't deposit more than £150 a month.... I tend to do £50 via the standing order they want and then the extra £125 by transfer..... If you deposit more each month it will go through but will be sent back and if you do it multiple times they could close your saver. (as stated in their T&Cs)

(That's where round ups come in, if you were gonna use round ups/double round ups you have to turn it on in the settings and also select which account you want them to be sent to in this case to the Digital Regular Saver.)

If you are going to say do the £1.01 deposit to a Building Society like Skipton via debit card, you would need the £1.01 in the current account (for Skipton) and the £1.98 that will be transferred through round ups when the card transaction clears (within around 2 working days) Which they do automatically.

It has been known in VERY rare conditions someone has managed to get the full £5k through round ups in just over a month... but thats not recommended

RG2015

pookey said:

RG2015 said:

pookey said:

RG2015 said:

pookey said:

RG2015 said:

pookey said:

Zaul22 said:

Update on Natwest Round ups: Don't. Some people have got away with it but it is a gamble. I got the 'we are ending our banking relationship' letter just like the infamous LBG letter. I was only doing like 5 created round ups per week. I knew if I did too many they could do something but I am really surprised just how few they considered too many. I was also using it for legitimate spending as much if not more than created round ups. Maybe they saw the £2.25 payment to Eon and thought something is clearly wrong here. 

Thank you for letting us know. I was gonna open the account but was hesitating due to this

Why would this make you hesitate? It is a savings account. Many thousands will be running this account without any issues.

The problem appears to be NatWest objecting to a customer "contriving" rounds ups to increase the amounts deposited during a single month.

I wanted to do the round ups to get more interest but seems a bit risky if they may cancle the account. 

Okay, thanks for responding.

I think it’s a good account with an excellent rate. I have £2,251 so far in both NatWest and RBS without any round ups.

 Unless you do dozens of them it’s really just pennies extra .

The max you can transfer in is £150 per month right? How did you manage to get so much in there? Is it not for 1 year? 

There is no time limit. I have had the NatWest one since 2020. Originally it was only £50 per month and the top rate stopped at £1000.

Everyone stopped funding them when they reached £1000. Then they upped the top rate to £5000 and the monthly limit to £150.

Oh OK i didn't realise this. That does actually make it more worthwhile in the long run.
So I can open both the Natwest and rbs? 
I don't bank with either of them so are the accounts also for new customers please? 

Yes, and you need to have a current account with them.

 https://www.natwest.com/savings/digital-regular-saver.html

https://www.rbs.co.uk/savings/digital-regular-saver.html

pookey

pokemaster said:

Yes you can open a current account with Natwest and RBS and then open One Digital Regular Saver with each bank. (new customer or old customers)

Both Natwest and RBS (currently) have switching deals, if you happen to have a space current account you don't use and switch to either Natwest or RBS (and follow a few more easy steps) they will give you  £200 in to your account

JUST REMEMBER: Don't deposit more than £150 a month.... I tend to do £50 via the standing order they want and then the extra £125 by transfer..... If you deposit more each month it will go through but will be sent back and if you do it multiple times they could close your saver. (as stated in their T&Cs)

(That's where round ups come in, if you were gonna use round ups/double round ups you have to turn it on in the settings and also select which account you want them to be sent to in this case to the Digital Regular Saver.)

If you are going to say do the £1.01 deposit to a Building Society like Skipton via debit card, you would need the £1.01 in the current account (for Skipton) and the £1.98 that will be transferred through round ups when the card transaction clears (within around 2 working days) Which they do automatically.

It has been known in VERY rare conditions someone has managed to get the full £5k through round ups in just over a month... but thats not recommended

When you say £50 via SO do you mean £25 to each account?


Thanks for all the info

pokemaster

yeah sorry I meant £25 standing order to each as at the time I didn't have the money to do the full amount, but you could set up the full £150 to each if you have it then there will be no need to transfer as the maximum would have gone in each, each month.

I set up the standing order for the 1st of the month, the only issue with that is if it hits a weekend or bank holiday it waits to send it till the next "working" day.... Thats why when I had the rest of the £125 for each I transferred it myself

londoner62

RG2015 said:

Yes, and you need to have a current account with them.

 https://www.natwest.com/savings/digital-regular-saver.html

https://www.rbs.co.uk/savings/digital-regular-saver.html

I closed our RBS (joint account) in September 21 and am still paying into the Digital Savers by S/O from another bank (NatWest) with no issues.

RG2015

londoner62 said:

RG2015 said:

Yes, and you need to have a current account with them.

 https://www.natwest.com/savings/digital-regular-saver.html

https://www.rbs.co.uk/savings/digital-regular-saver.html

I closed our RBS (joint account) in September 21 and am still paying into the Digital Savers by S/O from another bank (NatWest) with no issues.

I thought you could only transfer money out of the RBS digital regular saver into another RBS current account in your name.

Just checked and they say.

“If you close or switch your current account with us in future, you will only be able to withdraw money from your account in branch.”

https://www.rbs.co.uk/savings/digital-regular-saver.html

surreysaver

Zaul22 said:

Update on Natwest Round ups: Don't. Some people have got away with it but it is a gamble. I got the 'we are ending our banking relationship' letter just like the infamous LBG letter. I was only doing like 5 created round ups per week. I knew if I did too many they could do something but I am really surprised just how few they considered too many. I was also using it for legitimate spending as much if not more than created round ups. Maybe they saw the £2.25 payment to Eon and thought something is clearly wrong here. 

I've been doing at least half a dozen a day. Already up to £4k in my Digital Regular Saver 

Bridlington1

Now that I have both the Mansfield 90 day tracker pays 5% and HEBS branch saver will pay 5% shortly it's looking as though my next regular saver cull could be pretty large.

I will be ringing H&R BS (4.5%) tomorrow to put in notice to empty their regular saver next month, I'll be transferring the Saffron regular saver ISA (4.25%) out to unlock the interest, Principality regular saver Issue 32 (4.5%) is getting axed, I've reduced the SO on the HSBC regular saver (5%) to £25 and changed the date from 6th to 2nd (I opened the account on 6th of the month), Coventry regular saver (4.4%) is having it's funding ceased unless they up their rate to over 5%, Bath BS homestart regular saver (4.24%), Darlington BS Regular Saver and Green Regular saver (both 4.25%), Leeds BS home deposit saver and SRBS regular saver (4.4% each) will be getting emptied too unless they act by the end of the month. 

I've then got the YBS regular saver (4.5%), Principality FHS (4.25%), Furness regular saver (4.5%), Leeds regular saver (4.5%) and Saffron members regular saver (4.5%), which are looking very vulnerable indeed. I will likely decide what to do with these at some point later next month or when they announce savings rate increases.

EDIT: Spotted a spelling error

ForumUser7

Bridlington1 said:

Now that I have both the Mansfield 90 day tracker pays 5% and HEBS branch saver will pay 5% shortly it's looking as though my next regular saver cull could be pretty large.

I will be ringing H&R BS (4.5%) tomorrow to put in notice to empty their regular saver next month, I'll be transferring the Saffron regular saver ISA (4.25%) out to unlock the interest, Principality regular saver Issue 32 (4.5%) is getting axed, I've reduced the SO on the HSBC regular saver (5%) to £25 and chanced the date from 6th to 2nd (I opened the account on 6th of the month), Coventry regular saver (4.4%) is having it's funding ceased unless they up their rate to over 5%, Bath BS homestart regular saver (4.24%), Darlington BS Regular Saver and Green Regular saver (both 4.25%), Leeds BS home deposit saver and SRBS regular saver (4.4% each) will be getting emptied too unless they act by the end of the month. 

I've then got the YBS regular saver (4.5%), Principality FHS (4.25%), Furness regular saver (4.5%), Leeds regular saver (4.5%) and Saffron members regular saver (4.5%), which are looking very vulnerable indeed. I will likely decide what to do with these at some point later next month or when they announce savings rate increases.

Re HRBS, you can secure message if you want - sometimes quicker than phoning.

Re HSBC - does anyone know what happens if you just stop paying in? Couldn’t see a stated penalty, no where does it say that causes the account to close down to flexible Saver etc.