Regular Savings Accounts: The Best Currently Available List!

ForumUser7

allegro120 said:

ForumUser7 said:

Bridlington1 said:

allegro120 said:

Bridlington1 said:

Apologies if it's been mentioned already but according to moneyfacts Tipton and Cosley BS will launch a 5.5% regular saver tomorrow. It's branch/post opening, allows deposits of £50-£500/mth.

They'll also be launching an app version at the same rate.

I looked at the info. It says you can't withdraw, but I can't see anything about closure. Do you know if closure is permitted?

I've just had a phone call from Tipton & Cosley. Early closure is not permitted so the only way to withdraw early is to miss 3 payments and let the account convert into an Easy Access Maturity Saver. If this happens you will still receive the regular saver rate until the account is converted.

Tipton terms now updated. I guess those of us who opened it before this clause was added don't have to follow it? Or maybe we do? Idk, I suppose if we have to follow it they'll have to write to us individually to inform us of the terms change, and give the relevant required notice for it to come into effect?

I've got the account number and reference now, but not sure if it worth depositing.  I don't really like RSs that don't permit closures.  I've made deposits to Beehive, but they pay 6% which is likely to stay competitive for the next 5 months or so and then I have an option to stop paying in and wait for maturity date at 6%... 5.5% isn't good enough to get stuck with. If Tipton gave some guarantee that they will track BoE rate in one way or another then it would be worth keeping money there.  What if they decide to lower the rate like H&R did?

Be good if anyone can confirm this - but usually if rates are lowered, you have to be permitted to withdraw for a period of time.

OneUser1

I have no further progress with the Tipton. I have an account showing in the App (which I already had with an existing account) but although I sent funding around lunchtime using online banking the balance still shows as zero. Maybe Tipton don’t update balances until the next working day? Or maybe it’s another glitch? 

PowerSavingMode

ForumUser7 said:

Do not call Tipton for now.

They are aware of the problem with their app, and are working on processing all applications - they are apparently having to manually run everyone's electronic ID checks, and they've said they'll get in touch with customers if they are required to send ID. They are working down the list one by one and cannot do yours at the time if you call anyway, so worth waiting a few days IMO.

Bumtwaddle! I missed their call earlier today!

Bridlington1

ForumUser7 said:

allegro120 said:

ForumUser7 said:

Bridlington1 said:

allegro120 said:

Bridlington1 said:

Apologies if it's been mentioned already but according to moneyfacts Tipton and Cosley BS will launch a 5.5% regular saver tomorrow. It's branch/post opening, allows deposits of £50-£500/mth.

They'll also be launching an app version at the same rate.

I looked at the info. It says you can't withdraw, but I can't see anything about closure. Do you know if closure is permitted?

I've just had a phone call from Tipton & Cosley. Early closure is not permitted so the only way to withdraw early is to miss 3 payments and let the account convert into an Easy Access Maturity Saver. If this happens you will still receive the regular saver rate until the account is converted.

Tipton terms now updated. I guess those of us who opened it before this clause was added don't have to follow it? Or maybe we do? Idk, I suppose if we have to follow it they'll have to write to us individually to inform us of the terms change, and give the relevant required notice for it to come into effect?

I've got the account number and reference now, but not sure if it worth depositing.  I don't really like RSs that don't permit closures.  I've made deposits to Beehive, but they pay 6% which is likely to stay competitive for the next 5 months or so and then I have an option to stop paying in and wait for maturity date at 6%... 5.5% isn't good enough to get stuck with. If Tipton gave some guarantee that they will track BoE rate in one way or another then it would be worth keeping money there.  What if they decide to lower the rate like H&R did?

Be good if anyone can confirm this - but usually if rates are lowered, you have to be permitted to withdraw for a period of time.

Well it isn't changing on 11/7/23 anyway.

Source:
https://www.thetipton.co.uk/media/3600/current-savings-rates-3-july-2023.pdf

allegro120

ForumUser7 said:

allegro120 said:

ForumUser7 said:

Bridlington1 said:

allegro120 said:

Bridlington1 said:

Apologies if it's been mentioned already but according to moneyfacts Tipton and Cosley BS will launch a 5.5% regular saver tomorrow. It's branch/post opening, allows deposits of £50-£500/mth.

They'll also be launching an app version at the same rate.

I looked at the info. It says you can't withdraw, but I can't see anything about closure. Do you know if closure is permitted?

I've just had a phone call from Tipton & Cosley. Early closure is not permitted so the only way to withdraw early is to miss 3 payments and let the account convert into an Easy Access Maturity Saver. If this happens you will still receive the regular saver rate until the account is converted.

Tipton terms now updated. I guess those of us who opened it before this clause was added don't have to follow it? Or maybe we do? Idk, I suppose if we have to follow it they'll have to write to us individually to inform us of the terms change, and give the relevant required notice for it to come into effect?

I've got the account number and reference now, but not sure if it worth depositing.  I don't really like RSs that don't permit closures.  I've made deposits to Beehive, but they pay 6% which is likely to stay competitive for the next 5 months or so and then I have an option to stop paying in and wait for maturity date at 6%... 5.5% isn't good enough to get stuck with. If Tipton gave some guarantee that they will track BoE rate in one way or another then it would be worth keeping money there.  What if they decide to lower the rate like H&R did?

Be good if anyone can confirm this - but usually if rates are lowered, you have to be permitted to withdraw for a period of time.

It's a good thought, but what do you mean by "usually"?  I remember H&R paused 30 days notice rule when lowered the rate, but the actual closure was already in t&c.  Are there more examples of this?

ForumUser7

allegro120 said:

ForumUser7 said:

allegro120 said:

ForumUser7 said:

Bridlington1 said:

allegro120 said:

Bridlington1 said:

Apologies if it's been mentioned already but according to moneyfacts Tipton and Cosley BS will launch a 5.5% regular saver tomorrow. It's branch/post opening, allows deposits of £50-£500/mth.

They'll also be launching an app version at the same rate.

I looked at the info. It says you can't withdraw, but I can't see anything about closure. Do you know if closure is permitted?

I've just had a phone call from Tipton & Cosley. Early closure is not permitted so the only way to withdraw early is to miss 3 payments and let the account convert into an Easy Access Maturity Saver. If this happens you will still receive the regular saver rate until the account is converted.

Tipton terms now updated. I guess those of us who opened it before this clause was added don't have to follow it? Or maybe we do? Idk, I suppose if we have to follow it they'll have to write to us individually to inform us of the terms change, and give the relevant required notice for it to come into effect?

I've got the account number and reference now, but not sure if it worth depositing.  I don't really like RSs that don't permit closures.  I've made deposits to Beehive, but they pay 6% which is likely to stay competitive for the next 5 months or so and then I have an option to stop paying in and wait for maturity date at 6%... 5.5% isn't good enough to get stuck with. If Tipton gave some guarantee that they will track BoE rate in one way or another then it would be worth keeping money there.  What if they decide to lower the rate like H&R did?

Be good if anyone can confirm this - but usually if rates are lowered, you have to be permitted to withdraw for a period of time.

It's a good thought, but what do you mean by "usually"?  I remember H&R paused 30 days notice rule when lowered the rate, but the actual closure was already in t&c.  Are there more examples of this?

 By ‘usually’ I just meant I didn’t want to commit to an answer as I’m unsure, and don’t want to mislead Forumites in the event I’m wrong. I’ve attached a copy of the relevant ts and cs pages, personally I think closure will be allowed if the rate decreases (due to 17.1), but DYOR to confirm!

Bridlington1

In the general terms and conditions I've found this (page 18):

So it looks like if the rate is reduced you will be able to close the account within 30 days.

EDIT: It appears @ForumUser7 has beaten me to it. They say great minds think alike so I'll take it as a compliment.

georged123

How do you deposit into the Beehive Regular account?

I've registered. downloaded the app and account is set up but can't see where I deposit funds.

gt94sss2

georged123 said:

How do you deposit into the Beehive Regular account?

I've registered. downloaded the app and account is set up but can't see where I deposit funds.

Under the Account tab, click on the account and the subsequent page shows your sort code and account number that you can use for electronic payments

(No idea why the app dashboard defaults to showing goals rather than accounts - I find it inconvenient)

wiseonesomeofthetime

Sort code, account number, reference number.