Regular Savings Accounts: The Best Currently Available List!

BlackthornU

t1redmonkey said:

BlackthornU said:

Am I missing something? 
Why would you want a Beehive 6% fixed rate regular saver with no access for a year when you can get 6.2% fixed no access from NS&I?

The Beehive one is a 'hedge' of sorts, a way to lock in 6% until end of September 2024 on an account without having to commit anything more than £10 as there are no minimum monthly payments.

You can just pay in £10 to open it (anytime within first 90 days, don't even have to fund it straight away), then if it becomes worthwhile at any point between now and when it matures, you can start paying into it since you've basically reserved the 6% rate by depositing that £10.

Scenario: You do not see it as a useful account currently but want to open it in case it becomes useful at some point in the future.

- Deposit £10 by mid December 2023.  This keeps account open until end of September 2024.
- Several months in the future, let's say March 2024 for example, 6% is now a very good rate compared to other available accounts and you think it's worth putting in more.
- You can now start depositing up to £250 each month and get the 6% rate.

Good points, thanks - I was missing this.

francoghezzi

I just opened a Beehive RS 6% (I have already the FD 7% that is going to mature in a couple of months and the Lloyds 6.25%). Anyone has had experience with Beehive? I read quite good reviews on Trustpilot. Any thoughts?

subjecttocontract

I don't do apps. Even 6% can't persuade me otherwise.

Gers

subjecttocontract said:

I don't do apps. Even 6% can't persuade me otherwise.

There’s a web based version on Nottinghams home page. 

Section62

Gers said:

subjecttocontract said:

I don't do apps. Even 6% can't persuade me otherwise.

There’s a web based version on Nottinghams home page. 

You have to have photo ID and do a selfie-type verification (so need a compatible device) which may make it less attractive to people who use old-school PC-type computers/laptops.

I don't have suitable photo ID so am excluded completely.

castle96

My computer aint "old style" ! Don't do apps on a fiddly little phone

OneUser1

Section62 said:

Gers said:

subjecttocontract said:

I don't do apps. Even 6% can't persuade me otherwise.

There’s a web based version on Nottinghams home page. 

You have to have photo ID and do a selfie-type verification (so need a compatible device) which may make it less attractive to people who use old-school PC-type computers/laptops.

I don't have suitable photo ID so am excluded completely.

Same here. No photo ID. Cannot register for Bee so they don’t get my money. 

subjecttocontract

Thanks for the info.
I gave the web based version a try.
Looks like the photos of my d/licence & my selfie were not acceptable.
Hey,ho.....won't be trying again.
Whoever came up with this wacky idea, it needs a rethink.

brucefan_2

t1redmonkey said:

BlackthornU said:

Am I missing something? 
Why would you want a Beehive 6% fixed rate regular saver with no access for a year when you can get 6.2% fixed no access from NS&I?

The Beehive one is a 'hedge' of sorts, a way to lock in 6% until end of September 2024 on an account without having to commit anything more than £10 as there are no minimum monthly payments.

You can just pay in £10 to open it (anytime within first 90 days, don't even have to fund it straight away), then if it becomes worthwhile at any point between now and when it matures, you can start paying into it since you've basically reserved the 6% rate by depositing that £10.

Scenario: You do not see it as a useful account currently but want to open it in case it becomes useful at some point in the future.

- Deposit £10 by mid December 2023.  This keeps account open until end of September 2024.
- Several months in the future, let's say March 2024 for example, 6% is now a very good rate compared to other available accounts and you think it's worth putting in more.
- You can now start depositing up to £250 each month and get the 6% rate.

THis makes perfect sense. Thank you for making it so clear. This meets my needs for an account over the next 12 months so well but I would not have thought 'out of the box' like this. So, very much appreciated.

Now opened  (within minutes) and funded with £10 - both RS accounts showing in app.

Again, thank you!

allegro120

t1redmonkey said:

BlackthornU said:

Am I missing something? 
Why would you want a Beehive 6% fixed rate regular saver with no access for a year when you can get 6.2% fixed no access from NS&I?

The Beehive one is a 'hedge' of sorts, a way to lock in 6% until end of September 2024 on an account without having to commit anything more than £10 as there are no minimum monthly payments.

You can just pay in £10 to open it (anytime within first 90 days, don't even have to fund it straight away), then if it becomes worthwhile at any point between now and when it matures, you can start paying into it since you've basically reserved the 6% rate by depositing that £10.

Scenario: You do not see it as a useful account currently but want to open it in case it becomes useful at some point in the future.

- Deposit £10 by mid December 2023.  This keeps account open until end of September 2024.
- Several months in the future, let's say March 2024 for example, 6% is now a very good rate compared to other available accounts and you think it's worth putting in more.
- You can now start depositing up to £250 each month and get the 6% rate.

This is exactly how I see it. Locking £10 for a year at 6% won't do any harm, but having this account can be beneficial in future.  We can't assume that the rates will be raising forever.  My dilemma is whether to continue funding the previous issue I've opened in June or put a pause on it.  Paid in £1000 already, but it's probably time to stop doing it in October.