Regular Savings Accounts: The Best Currently Available List!

Wheres_My_Cashback

MDMD said:

chris_the_bee said:

allegro120 said:

Growingold said:

Monmouthshire RS's
A question which may have already been answered definitely but not sure.

Does the 12 months run from date of account opening or receipt of first deposit?  Having missed deposit window for August wondering when best to do Septembers?

Many thanks.

Today or as soon as you can and on the 1st of every month starting from October until 1st August 2024. 

12 months runs from date of receipt of first funds.

Have you got that in writing as that’s not what Monmouthshire say in the terms. This says the 12 month term runs from the date of account opening. 

Been here. done that and previously discussed in depth.

T&C don't always give the full story and that applies to many different organisations when it comes to savings accounts

MONBS have an admin opening date, the date the application is processed and.
An official opening date (first deposit date) used to determine the full 12month maturity date.

"To open an account with the Society, you will need to provide at least the minimum investment amount for the type of account"

If the maturity date was set at admin opening date then very few people would actually ever get a 12 month term due their administrational procedures.

subjecttocontract

I thought Northern Ireland WAS part of & made up the United Kingdom. Surely any reference to the United Kingdom is invalid if any parts are excluded. Bloody cheek. Next time my business decides to select an area to cover we'll make a point of excluding Wales !

chris_the_bee

MDMD said:

chris_the_bee said:

allegro120 said:

Growingold said:

Monmouthshire RS's
A question which may have already been answered definitely but not sure.

Does the 12 months run from date of account opening or receipt of first deposit?  Having missed deposit window for August wondering when best to do Septembers?

Many thanks.

Today or as soon as you can and on the 1st of every month starting from October until 1st August 2024. 

12 months runs from date of receipt of first funds.

Have you got that in writing as that’s not what Monmouthshire say in the terms. This says the 12 month term runs from the date of account opening. 

Both I and OH recently opened 2 Regular & 2 Exclusive RS. In each case, the letters were dated about a week before the confirmed opening date. This date is shown in MONBS online as well as the next interest due date being the day before the years anniversary. The opening date is the date that first funds were received. This has been the same for 16 of their accounts dating back to 2020, whether cheque or FPS receipt.

Reg_Smeeton

Satisfied Monmouthshire customer here, two letters arrived over the weekend and two accounts funded as of this morning. Their very competitive rates at the moment more than outweigh any minor procedural clunkiness. IMO.

gwapenut

When I try to withdraw from my Darlington accounts, it only gives me options to withdraw from 3 of my 5 regular saver accounts in the pull down menus, despite them having nominated accounts. Same for anyone else?

jaypers

If anyone still has a Santander RS paying 5%, you may as well bin it. They have today launched a limited edition Easy Access account paying 5.2% (available until 17/9), so you may as well open that and put your money in there. Full discussion on Easy Access thread. 

subjecttocontract

I had to chuckle about this one.
£200 pcm @ 5% = £65 interest.
£200 pcm @ 5.2% = £67
I really won't be changing anything to gain £2 extra at the end of the year.

gt94sss2

jaypers said:

If anyone still has a Santander RS paying 5%, you may as well bin it. They have today launched a limited edition Easy Access account paying 5.2% (available until 17/9), so you may as well open that and put your money in there. Full discussion on Easy Access thread. 

Also raises the question about what to do re: other regular savers paying less than 5.2% especially if they allow withdrawals.

For instance:

- you can reduce your HSBC RS to £25,/month
- withdraw balances from Principality Home saver accounts (perhaps maintain £7.5k)

It also makes the SRBS offer to fund their RS with a one off(up to) £12k less attractive 

I expect someone (@Bridlington1?) will be here shortly with chapter and verse of suggestions..

BestSeagull

subjecttocontract said:

I had to chuckle about this one.
£200 pcm @ 5% = £65 interest.
£200 pcm @ 5.2% = £67
I really won't be changing anything to gain £2 extra at the end of the year.

If you have more than £200 a month available to save, you'll do correspondingly better than that though. 

Wheres_My_Cashback

jaypers said:

If anyone still has a Santander RS paying 5%, you may as well bin it. They have today launched a limited edition Easy Access account paying 5.2% (available until 17/9), so you may as well open that and put your money in there. Full discussion on Easy Access thread. 

Every now n again someone comes along and rocks the boat!

It's meant a busy morning closing accounts, withdrawing balances to minimums, reducing S/Os to minimums, cancelling S/Os, cancelling/emptying round ups, emptying other EA and updating my spreadsheet.

Love it !