Regular Savings Accounts: The Best Currently Available List!

LZC

How do you open the latest Principality regular saver online if you’re an existing customer? 

Also, will I be able to pay in this month or will I need to wait for them to send me details in the post?

Thank you. 

ForumUser7

housebuyer143 said:

Can anybody advise on the Halifax regular saver.

I put my first payment in on 22nd may and the next one in on 22 June, but can I make another tomorrow and then carry on monthly from 26th of the month? 

T&C's say:

• You can save £25 - £250 every month by one standing order or a bank transfer. This needs to reach your account before the 25th of the month. You can also make a bank transfer to top up your savings as long as the total amount of your deposits does not exceed the monthly limit of £250. The amount that you save each month can vary but needs to stay between the £25 to £250 monthly limit. 

Once per calendar month.

On 22nd June, did you pay in £250? If so, the next date you can pay in is 1st July

Have a look at this thread again for a refresher - I gave you some detailed examples to demonstrate the paying in time period here: https://forums.moneysavingexpert.com/discussion/6447570/halifax-regular-saver#latest

ForumUser7

LZC said:

How do you open the latest Principality regular saver online if you’re an existing customer? 

Also, will I be able to pay in this month or will I need to wait for them to send me details in the post?

Thank you. 

Go to the product page on their website, click apply online, do the ticky box etc. then select existing customer.

I got my details right away and paid in right away. All should be fine for you to do the same, unless they wanted to refresh your ID etc.

Bridlington1

ForumUser7 said:

LZC said:

How do you open the latest Principality regular saver online if you’re an existing customer? 

Also, will I be able to pay in this month or will I need to wait for them to send me details in the post?

Thank you. 

Go to the product page on their website, click apply online, do the ticky box etc. then select existing customer.

I got my details right away and paid in right away. All should be fine for you to do the same, unless they wanted to refresh your ID etc.

I would say as a rule of thumb if you haven't already make sure you maintain an account with Principality even if you close your last account with them. I remember making this error last year and it was a pain trying to apply for a new regular saver since their systems viewed me as an existing customer when I applied as a new customer but the user ID wasn't recognised when I applied as an existing customer. In the end I had to reactivate my account using a code in the post. By keeping say a double access account with £1 in it you will make things easier for yourself later on.

I found you can fund straight away regardless of whether you have online banking set up yet since they send the account details in an email straight away.

Bridlington1

alibean121 said:

Like many others, I'm looking for some good steps forward in rates offered. Some of these new offerings are quite disappointing in the context of EA rates available (Skipton/Saffron excepted)

I'm waiting on First Direct resurrecting their 10% saver or hopefully YBS to launch another good loyalty rate or something. Hopefully there's something good in the works from someone.

I've also got my HSBC regular saver seeing out the 12 months on a now £25 standing order and this 5% is now the worst interest rate I have on any of my savings! Wasn't expecting that in December I have to say.

I imagine regular savers will rise again soon enough though. We ended up in a similar position in October/November last year if I recall correctly. I remember emptying a lot of my regular savers when Santander suddenly went to 2.75% last autumn and the regular saver market appeared to cool a lot. I emptied any account paying less than my EA rate including Coventry's FHS which backfired spectacularly on me so I am somewhat hesitant to go emptying the 4.5%+ variable accounts at the moment, particularly those that have been known to lag behind then jump significantly and/or haven't raised their rate for a while.

These days there is a complication for me personally though in that I have those tracker accounts so the bar has been raised for me. Before I was emptying regular savers that paid less than my EA accounts and later the lowest paying ones to feed higher accounts, now though I am emptying accounts that I do not believe will consistently pay more than the BOE base rate over the next year or so. I would imagine that as the base rate rises finding regular savings accounts with high monthly deposits paying more than the base rate will become more and more of a rarity as it has done with EA accounts already, though this is speculation. 

ircE

Bridlington1 said:

By keeping say a double access account with £1 in it you will make things easier for yourself later on.

Thanks for the tip!

saverkev

housebuyer143 said:

Can anybody advise on the Halifax regular saver.

I put my first payment in on 22nd may and the next one in on 22 June, but can I make another tomorrow and then carry on monthly from 26th of the month? 

T&C's say:

• You can save £25 - £250 every month by one standing order or a bank transfer. This needs to reach your account before the 25th of the month. You can also make a bank transfer to top up your savings as long as the total amount of your deposits does not exceed the monthly limit of £250. The amount that you save each month can vary but needs to stay between the £25 to £250 monthly limit. 

No
You can only save £250 per calendar month.
But you can pay next on the 1st July and continue on the 1st of each month to maximise the interest upto and including 1st May 2024

housebuyer143

ForumUser7 said:

housebuyer143 said:

Can anybody advise on the Halifax regular saver.

I put my first payment in on 22nd may and the next one in on 22 June, but can I make another tomorrow and then carry on monthly from 26th of the month? 

T&C's say:

• You can save £25 - £250 every month by one standing order or a bank transfer. This needs to reach your account before the 25th of the month. You can also make a bank transfer to top up your savings as long as the total amount of your deposits does not exceed the monthly limit of £250. The amount that you save each month can vary but needs to stay between the £25 to £250 monthly limit. 

Once per calendar month.

On 22nd June, did you pay in £250? If so, the next date you can pay in is 1st July

Have a look at this thread again for a refresher - I gave you some detailed examples to demonstrate the paying in time period here: https://forums.moneysavingexpert.com/discussion/6447570/halifax-regular-saver#latest

Thank you. I thought I asked this before but couldn't find the thread when I searched. Will put more in on 1st 👍

allegro120

alibean121 said:

I'm waiting on First Direct resurrecting their 10% saver 

Was it ever 10%?  I remember 8% in 2010.

huw01

Ok, can someone answer this for me please. £20k in a 4% easy access savings account
From my current account am I better transferring £300 per month to a FD regular saver at 7% starting with a nil balance for the regular saver or to the easy access account with a £20k balance at 4% 
Better as in what would give me the better interest on the £3600 at the end of the 12 month period
Thank you