The Top Regular Savers Discussion Thread

nomorekids

Mrs_Trellis_of_North_Wales said:

Anybody planning to close the Beverley Regular Saver Issue 1 on January 1st (after the bonus payment has been received)? It seems to be the optimum date to close it.

I have 5.5% but have I missed another new rate?, my sp notes to say the opposite and start fully funding after 1st Jan? 5.5% is a tick for me nowadays so I'll be fully funding and not touching it withdrawal wise for another year.

Dizzycap

nomorekids said:

Mrs_Trellis_of_North_Wales said:

Anybody planning to close the Beverley Regular Saver Issue 1 on January 1st (after the bonus payment has been received)? It seems to be the optimum date to close it.

I have 5.5% but have I missed another new rate?, my sp notes to say the opposite and start fully funding after 1st Jan? 5.5% is a tick for me nowadays so I'll be fully funding and not touching it withdrawal wise for another year.

@ nomorekids - No you haven't missed a new rate. There is a bonus payment of 4.5% applied at the end of 31st Decemeber 2025. Presumably it will appear on the 1st January, providing that you've met the bonus criteria of having paid in the minimum £10 each month since opening and no withdraws have been made up to and including the 31st December. The way I read it is, if you make a withdraw between the RS opening date and the 31st December you will forfeit the bonus rate. The same applies if you make a withdrawl on the 1st of January, 2026 until RS maturity or the 31st December 2026, whichever comes first. Either way, making a withdrawl will forfeit the bonus rate.

I too have a note to begin fully funding as of 1st January, 2026 as 5.5% is very favourable in the present climate with some of my other RS maturing in January & with my higher rate RSs already being fully funded each month.

Bob2000

So, with it being a public holiday on the 1st, is there any point in me doing any transfers  into my RS accounts tomorrow?
I mostly do manually transfer.

Bridlington1

Bob2000 said:

So, with it being a public holiday on the 1st, is there any point in me doing any transfers  into my RS accounts tomorrow?
I mostly do manually transfer.

Depends on the account, some treat deposits received on non-working days as having been received the next working day for interest purposes, others treat them as having been received the same day.

The listings on p1 state how the accounts treat deposits received on non-working days, I also maintain another list of faster payment cut off times, a link to it appears on p1 of this thread.

clairec666

Another niche bank holiday point - as 2nd January is also a bank holiday in Scotland, I'm assuming it's best to avoid transferring to Scottish-based banks and building societies until Monday?

Not actually going to affect me at all, I was just curious. It'll be a 4-day weekend north of the border.

wmb194

clairec666 said:

Another niche bank holiday point - as 2nd January is also a bank holiday in Scotland, I'm assuming it's best to avoid transferring to Scottish-based banks and building societies until Monday?

Not actually going to affect me at all, I was just curious. It'll be a 4-day weekend north of the border.

Whilst their branches will be closed in my experience with financial institutions and stockbrokers based in Scotland their online/behind the scenes processing follows the Bank Holidays in England and Wales.

E.g., Scottish BS: "Any online transfer requests after 2pm on Wednesday 24 December will be processed on Monday 29 December, and transfer requests after 2pm on 31 December will be processed on Friday 2 January."

https://www.scottishbs.co.uk/our-locations/

clairec666

wmb194 said:

clairec666 said:

Another niche bank holiday point - as 2nd January is also a bank holiday in Scotland, I'm assuming it's best to avoid transferring to Scottish-based banks and building societies until Monday?

Not actually going to affect me at all, I was just curious. It'll be a 4-day weekend north of the border.

Whilst their branches will be closed in my experience with financial institutions and stockbrokers based in Scotland their online/behind the scenes processing follows the Bank Holidays in England and Wales.

E.g., Scottish BS: "Any online transfer requests after 2pm on Wednesday 24 December will be processed on Monday 29 December, and transfer requests after 2pm on 31 December will be processed on Friday 2 January."

https://www.scottishbs.co.uk/our-locations/

Interesting. I'll see whether my monthly interest at RBS arrives on the same day as Natwest, as it usually does.

Won't make much difference to me.... if on the other hand it was a bank holiday in Wales, I'd definitely be taking it into consideration. Over half my total January funding will be to Welsh-based accounts. I'd lose over £1 if that money was sitting there over the weekend earning no interest.

flaneurs_lobster

wmb194 said:

clairec666 said:

Another niche bank holiday point - as 2nd January is also a bank holiday in Scotland, I'm assuming it's best to avoid transferring to Scottish-based banks and building societies until Monday?

Not actually going to affect me at all, I was just curious. It'll be a 4-day weekend north of the border.

Whilst their branches will be closed in my experience with financial institutions and stockbrokers based in Scotland their online/behind the scenes processing follows the Bank Holidays in England and Wales.

E.g., Scottish BS: "Any online transfer requests after 2pm on Wednesday 24 December will be processed on Monday 29 December, and transfer requests after 2pm on 31 December will be processed on Friday 2 January."

https://www.scottishbs.co.uk/our-locations/

No longer have contacts with Scottish stockbrokers but TBH there's not much that could be called a Scottish Bank or Building Society left - those that are registered in Scotland are probably just Scottish BS, TSB and....er....

Those two process payments as having been received on their actual date so no problems.

BoS and RBS are both registered with Head Offices in Edinburgh but are, of course, parts of larger English-based Groups.

allegro120

wmb194 said:

clairec666 said:

Another niche bank holiday point - as 2nd January is also a bank holiday in Scotland, I'm assuming it's best to avoid transferring to Scottish-based banks and building societies until Monday?

Not actually going to affect me at all, I was just curious. It'll be a 4-day weekend north of the border.

Whilst their branches will be closed in my experience with financial institutions and stockbrokers based in Scotland their online/behind the scenes processing follows the Bank Holidays in England and Wales.

E.g., Scottish BS: "Any online transfer requests after 2pm on Wednesday 24 December will be processed on Monday 29 December, and transfer requests after 2pm on 31 December will be processed on Friday 2 January."

https://www.scottishbs.co.uk/our-locations/

Scottish BS
Does this relate to withdrawals only or both, withdrawals and deposits?

allegro120

Bob2000 said:

So, with it being a public holiday on the 1st, is there any point in me doing any transfers  into my RS accounts tomorrow?
I mostly do manually transfer.

This is my RS distribution for the next two days.
1st Jan - BoS, Darlington, Dudley, Halifax, Lloyds, Manchester, Melton, Nationwide, Newcastle, Principality, Scottish, TSB, YBS.
2nd Jan - Chorley, Co-op, Furness, Hanley, Loughborough, Mansfield, Market Harborough, Monmouthshire, Progressive, Saffron, Skipton, Virgin.