First Direct - Regular Saver Account - 2.75% AER/Gross p.a. fixed for 12 months

Eco_Miser

ncmscnc said:

Still, majority of the subscribers would be transferring on a monthly basis direct from Salary. Cutting back on their lifestyle.

Some subscribers would be deliberately cutting back on their lifestyle in order to save for a specific objective, but most would simply be stashing their excess funds in an account paying double most others.  Look at all the posts grumbling about how little their spare money is making.

colsten

ZeroSum said:

One little niggle to add, is that once it has matured they hold onto your cash for another week only giving you 0.01%

I have had 9 FD Regular Savers (and am into my 10th now) - the matured balance wasn't held for another week in any of them. You are the first person I have seen mentioning this delay. If this happened to you, you appear to be very unfortunate.

ncmscnc

Thanks all. My original question has been explained here. I wasn't looking properly and was asking questions like the noob. Which I am though. 

wiseonesomeofthetime

HSBC do the same offer for account holders too. I have both.

ncmscnc

Nice! HSBC is offering £250 capped account. First Direct is £300 per month capped. Also M&S. 

I believe all three require another product with them and not open to the savings account on its own. 

RG2015

ncmscnc said:

Nice! HSBC is offering £250 capped account. First Direct is £300 per month capped. Also M&S. 

I believe all three require another product with them and not open to the savings account on its own. 

https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/

Yes, and currently First Direct are not accepting applications for their current account.

thegentleway

colsten said:

ZeroSum said:

One little niggle to add, is that once it has matured they hold onto your cash for another week only giving you 0.01%

I have had 9 FD Regular Savers (and am into my 10th now) - the matured balance wasn't held for another week in any of them. You are the first person I have seen mentioning this delay. If this happened to you, you appear to be very unfortunate.

I had the same for the first time 3 days so I sent them a message and this is what they said:
"Re: Regular Saver
Thank you for your message dated 24-Aug-2020 regarding your Regular Saver.
Your Regular Saver matured on 22-Aug-2020.
The maturity process takes around 5 days to complete, during this process the funds will be moved and the account closed down.
Once you cannot see your Regular Saver account listed, you will be able to apply for another one online, and move your funds to the desired account.
Regards
Laura
Customer Service"

London7766551

Well I had this account at 5%, at the end of the year with £3000 in the account I got £77 interest. I won't attempt to work out what it would be with 2.75%

London7766551

colsten said:

ZeroSum said:

One little niggle to add, is that once it has matured they hold onto your cash for another week only giving you 0.01%

I have had 9 FD Regular Savers (and am into my 10th now) - the matured balance wasn't held for another week in any of them. You are the first person I have seen mentioning this delay. If this happened to you, you appear to be very unfortunate.

Over the last 10 years or at once?

thegentleway

London7766551 said:

Well I had this account at 5%, at the end of the year with £3000 in the account I got £77 interest. I won't attempt to work out what it would be with 2.75%

Presumably it would be £42.35