Regular Savings Accounts: The Best Currently Available List!

TiVo_Lad

It's now showing on the website

https://www.beehivemoney.co.uk/savings/regular-saver/

t1redmonkey

The Beehive RS does indeed seem to have no early closure possible, bit unusual for an RS these days.

SFindlay

wiseonesomeofthetime said:

subjecttocontract said:

Is Beehive Money regular saver an app only account ?

I don't know.

I have gone through the process of creating a profile account in the app, only to find that (a) the regular saver is not listed, and (b) they will not accept Starling as my linked account!!

Not great first impressions tbh.

Can log in online too, but still no sign of the regular saver.

Had to open an Easy Access account, which I don't need, just to gain access!!

No need to open easy access account, think patience was the answer as many times products appear of MF before officially released by institution usually at 8 or 9 am. 

I set up app before RS appeared on the list and just waited till after 9 when RS it came on line then opened it without having to open any of their other accounts. 

SFindlay

I'm new to Beehive so unsure have they ever had a RS before that anyone has held? I've bever noticed one before but if interest rates have been low I could have missed it.

 Wondering if their deposit months are calander or based on opening date. All I can see is recommend send deposit before 25th so I'm guessing its calander months bit wondered if anyone knew for certain? 

wiseonesomeofthetime

SFindlay said:

I'm new to Beehive so unsure have they ever had a RS before that anyone has held? I've bever noticed one before but if interest rates have been low I could have missed it.

 Wondering if their deposit months are calander or based on opening date. All I can see is recommend send deposit before 25th so I'm guessing its calander months bit wondered if anyone knew for certain? 

Beehive Money Online Fixed Regular Saver

 My research of their FAQ indicated calendar month, so I have made an initial deposit today and set up a SO, starting Sat 1 July, for the rest, right up to 1 July 2024.

Funds available 1 August 2024

This RS matures on 31 July 2024.

It is NOT a 12-month RS

TiVo_Lad

t1redmonkey said:

The Beehive RS does indeed seem to have no early closure possible, bit unusual for an RS these days.

I'm somewhat put off by this restriction. It's closer to a fix than a regular saver compared to most RS Bonds for exactly that reason. With the markets talking up 0.5% of further rate rises, it makes me wonder whether this will be that competetive in the long run, especially since the funds won't be available until August next year....

PloughmansLunch

Beehive has a 14-day cooling off period if you change your mind. I've recently closed my 4% Principality #31 so was looking for a home for £250 p/month, and even if the BoE revises upwards again twice then I think at worst I'd end up with a base rate account and can stomach that for what is effectively only a 13 month bond.

allegro120

subjecttocontract said:

Is Beehive Money regular saver an app only account ?

Looks like it is.  I've had an account with Beehive years ago, tried to login using my old details, it didn't work and I couldn't find any way of opening this account online so I had to get the app.  It didn't take too long to download the app and open the account. Now funded, we'll see how long it will take for money to arrive, but I hope it will arrive today.

soulsaver

allegro120 said:

subjecttocontract said:

Is Beehive Money regular saver an app only account ?

Looks like it is.  I've had an account with Beehive years ago, tried to login using my old details, it didn't work and I couldn't find any way of opening this account online so I had to get the app.  It didn't take too long to download the app and open the account. Now funded, we'll see how long it will take for money to arrive, but I hope it will arrive today.

I opened it online, so not app only. I'm also waiting for test payment to show.

allegro120

t1redmonkey said:

The Beehive RS does indeed seem to have no early closure possible, bit unusual for an RS these days.

Unusual indeed. I think of it as a series of small 6% fixed bonds, can stop deposits at any time if 6% is no longer competitive. 6% is probably going to be good rate for some time, if not it won't be far behind the top saving rates.