The Top Regular Savers Discussion Thread

Section62

simonsmithsays said:

Bridlington1 said:

Additionally Nottingham BS Branch Regular Saver 2 has been launched at 4.75% var (branch only), £500/mth max, unlimited withdrawals.

The unlimited withdrawals make this an excellent product for those near a branch.

Nottingham

Not sure I'd go as far as "excellent".  The unlimited withdrawals are useful in case Nottingham reduce the rate significantly below what is available elsewhere, but being able to withdraw unlimited times from an account which has a monthly deposit limit of only £500 is a feature not dissimilar to the kind posessed by chocolate teapots.  Either 4.75% (variable) turns out to be a rate which is better than most, in which case it would be unwise to make use of the withdrawals, or else 4.75% (variable) turns out not to be so good compared to the alternatives, in which case it would be unwise to leave more than the minimum balance in the account for any longer than you have to.

Comparing to (say) Coventry's 5 Access Saver (Online) (2) account - currently 4.66%, dropping to 4.5% on 03/03 - the Nottingham offer doesn't look so tempting to me.  The Coventry limited access account doesn't have the limited monthly deposits, and the number of accesses means it can be dipped into if necessary and/or if the rate becomes uncompetitive.  Most of all, it can be managed entirely online without need to phone up to check whether deposits have been received, or visiting a branch to open/withdraw.

I like the Nottingham.  The branch staff are lovely and helpful.  But the management need to sort themselves out when it comes to online access, and they need to up their game on interest rates and go back to the days when it was worth running several Nottingham RS accounts at the same time because they were consistently up there with the best.  In my view this is an OK product if you can get to a branch with minimal time/financial expense, but personally I wouldn't want the Nottingham's senior management to rest on their laurels thinking what they were offering was "excellent".  Other views are equally valid though.

Bigwheels1111

I’m just waiting for my West Bromwich reg saver to payout, Today I think it is.
Ive also applied for another, takes 3-5 days.
But a 6% fixed it’s a good option.

surreysaver

Section62 said:

simonsmithsays said:

Bridlington1 said:

Additionally Nottingham BS Branch Regular Saver 2 has been launched at 4.75% var (branch only), £500/mth max, unlimited withdrawals.

The unlimited withdrawals make this an excellent product for those near a branch.

Nottingham

Not sure I'd go as far as "excellent".  The unlimited withdrawals are useful in case Nottingham reduce the rate significantly below what is available elsewhere, but being able to withdraw unlimited times from an account which has a monthly deposit limit of only £500 is a feature not dissimilar to the kind posessed by chocolate teapots.  Either 4.75% (variable) turns out to be a rate which is better than most, in which case it would be unwise to make use of the withdrawals, or else 4.75% (variable) turns out not to be so good compared to the alternatives, in which case it would be unwise to leave more than the minimum balance in the account for any longer than you have to.

Comparing to (say) Coventry's 5 Access Saver (Online) (2) account - currently 4.66%, dropping to 4.5% on 03/03 - the Nottingham offer doesn't look so tempting to me.  The Coventry limited access account doesn't have the limited monthly deposits, and the number of accesses means it can be dipped into if necessary and/or if the rate becomes uncompetitive.  Most of all, it can be managed entirely online without need to phone up to check whether deposits have been received, or visiting a branch to open/withdraw.

I like the Nottingham.  The branch staff are lovely and helpful.  But the management need to sort themselves out when it comes to online access, and they need to up their game on interest rates and go back to the days when it was worth running several Nottingham RS accounts at the same time because they were consistently up there with the best.  In my view this is an OK product if you can get to a branch with minimal time/financial expense, but personally I wouldn't want the Nottingham's senior management to rest on their laurels thinking what they were offering was "excellent".  Other views are equally valid though.

And do Nottingham still only allow withdrawals by cheque? It's been a few years since I've withdrawn money from them. I've got their Issue 1, but can get to a branch easily enough 

simonsmithsays

Section62 said:

simonsmithsays said:

Bridlington1 said:

Additionally Nottingham BS Branch Regular Saver 2 has been launched at 4.75% var (branch only), £500/mth max, unlimited withdrawals.

The unlimited withdrawals make this an excellent product for those near a branch.

Nottingham

Not sure I'd go as far as "excellent".  The unlimited withdrawals are useful in case Nottingham reduce the rate significantly below what is available elsewhere, but being able to withdraw unlimited times from an account which has a monthly deposit limit of only £500 is a feature not dissimilar to the kind posessed by chocolate teapots.  Either 4.75% (variable) turns out to be a rate which is better than most, in which case it would be unwise to make use of the withdrawals, or else 4.75% (variable) turns out not to be so good compared to the alternatives, in which case it would be unwise to leave more than the minimum balance in the account for any longer than you have to.

Comparing to (say) Coventry's 5 Access Saver (Online) (2) account - currently 4.66%, dropping to 4.5% on 03/03 - the Nottingham offer doesn't look so tempting to me.  The Coventry limited access account doesn't have the limited monthly deposits, and the number of accesses means it can be dipped into if necessary and/or if the rate becomes uncompetitive.  Most of all, it can be managed entirely online without need to phone up to check whether deposits have been received, or visiting a branch to open/withdraw.

I like the Nottingham.  The branch staff are lovely and helpful.  But the management need to sort themselves out when it comes to online access, and they need to up their game on interest rates and go back to the days when it was worth running several Nottingham RS accounts at the same time because they were consistently up there with the best.  In my view this is an OK product if you can get to a branch with minimal time/financial expense, but personally I wouldn't want the Nottingham's senior management to rest on their laurels thinking what they were offering was "excellent".  Other views are equally valid though.

In my scenario any RS that's better (or the same as) my easy access 'float' gets applied for (currently 4.75%). So your Coventry comparison which has only a limited amount of withdrawals, is irrelevant to me.

The unlimited access makes it even better.

All down to personal circumstances as Notts have plenty of branches close by me.

I too remember the days of having half a dozen Notts RS running consecutively - but their rates were much more competitive then.

Probably trying to recoup their rebranding debacle money.

Fingers crossed this is the start of them being competitive again in the RS (including mini cash ISA) market.

WillPS

surreysaver said:

Section62 said:

simonsmithsays said:

Bridlington1 said:

Additionally Nottingham BS Branch Regular Saver 2 has been launched at 4.75% var (branch only), £500/mth max, unlimited withdrawals.

The unlimited withdrawals make this an excellent product for those near a branch.

Nottingham

Not sure I'd go as far as "excellent".  The unlimited withdrawals are useful in case Nottingham reduce the rate significantly below what is available elsewhere, but being able to withdraw unlimited times from an account which has a monthly deposit limit of only £500 is a feature not dissimilar to the kind posessed by chocolate teapots.  Either 4.75% (variable) turns out to be a rate which is better than most, in which case it would be unwise to make use of the withdrawals, or else 4.75% (variable) turns out not to be so good compared to the alternatives, in which case it would be unwise to leave more than the minimum balance in the account for any longer than you have to.

Comparing to (say) Coventry's 5 Access Saver (Online) (2) account - currently 4.66%, dropping to 4.5% on 03/03 - the Nottingham offer doesn't look so tempting to me.  The Coventry limited access account doesn't have the limited monthly deposits, and the number of accesses means it can be dipped into if necessary and/or if the rate becomes uncompetitive.  Most of all, it can be managed entirely online without need to phone up to check whether deposits have been received, or visiting a branch to open/withdraw.

I like the Nottingham.  The branch staff are lovely and helpful.  But the management need to sort themselves out when it comes to online access, and they need to up their game on interest rates and go back to the days when it was worth running several Nottingham RS accounts at the same time because they were consistently up there with the best.  In my view this is an OK product if you can get to a branch with minimal time/financial expense, but personally I wouldn't want the Nottingham's senior management to rest on their laurels thinking what they were offering was "excellent".  Other views are equally valid though.

And do Nottingham still only allow withdrawals by cheque? It's been a few years since I've withdrawn money from them. I've got their Issue 1, but can get to a branch easily enough 

Cash up to £500 without notice, cash over £500 with notice, cheque or CHAPS (chargeable). All in branch, in person only.

WillPS

simonsmithsays said:

Section62 said:

simonsmithsays said:

Bridlington1 said:

Additionally Nottingham BS Branch Regular Saver 2 has been launched at 4.75% var (branch only), £500/mth max, unlimited withdrawals.

The unlimited withdrawals make this an excellent product for those near a branch.

Nottingham

Not sure I'd go as far as "excellent".  The unlimited withdrawals are useful in case Nottingham reduce the rate significantly below what is available elsewhere, but being able to withdraw unlimited times from an account which has a monthly deposit limit of only £500 is a feature not dissimilar to the kind posessed by chocolate teapots.  Either 4.75% (variable) turns out to be a rate which is better than most, in which case it would be unwise to make use of the withdrawals, or else 4.75% (variable) turns out not to be so good compared to the alternatives, in which case it would be unwise to leave more than the minimum balance in the account for any longer than you have to.

Comparing to (say) Coventry's 5 Access Saver (Online) (2) account - currently 4.66%, dropping to 4.5% on 03/03 - the Nottingham offer doesn't look so tempting to me.  The Coventry limited access account doesn't have the limited monthly deposits, and the number of accesses means it can be dipped into if necessary and/or if the rate becomes uncompetitive.  Most of all, it can be managed entirely online without need to phone up to check whether deposits have been received, or visiting a branch to open/withdraw.

I like the Nottingham.  The branch staff are lovely and helpful.  But the management need to sort themselves out when it comes to online access, and they need to up their game on interest rates and go back to the days when it was worth running several Nottingham RS accounts at the same time because they were consistently up there with the best.  In my view this is an OK product if you can get to a branch with minimal time/financial expense, but personally I wouldn't want the Nottingham's senior management to rest on their laurels thinking what they were offering was "excellent".  Other views are equally valid though.

In my scenario any RS that's better (or the same as) my easy access 'float' gets applied for (currently 4.75%). So your Coventry comparison which has only a limited amount of withdrawals, is irrelevant to me.

The unlimited access makes it even better.

All down to personal circumstances as Notts have plenty of branches close by me.

I too remember the days of having half a dozen Notts RS running consecutively - but their rates were much more competitive then.

Probably trying to recoup their rebranding debacle money.

Fingers crossed this is the start of them being competitive again in the RS (including mini cash ISA) market.

Not sure who this "Notts" you speak of is, there's a Nottingham BS but the only Nottinghamshire building society I'm aware of is Mansfield  

Seems a lot of faff for an account with no arbitrage over easy access you already hold but to each their own.

Aidanmc

Can i hold Melton RS 6 and also open the current RS 5?

WillPS

Aidanmc said:

Can i hold Melton RS 6 and also open the current RS 5?

The only stipulation is that it is "Limited to one account per person". By my read, that means you can have one of each account offered and RS5 is clearly a different product to RS6. 

Might be worth looking in to as an account with no fixed maturity. It'll be interesting to see what happens with their rates, noting that they're still "reviewing" following the lowering of the base rate. I might bite if the rate is maintained.

simonsmithsays

WillPS said:

simonsmithsays said:

Section62 said:

simonsmithsays said:

Bridlington1 said:

Additionally Nottingham BS Branch Regular Saver 2 has been launched at 4.75% var (branch only), £500/mth max, unlimited withdrawals.

The unlimited withdrawals make this an excellent product for those near a branch.

Nottingham

Not sure I'd go as far as "excellent".  The unlimited withdrawals are useful in case Nottingham reduce the rate significantly below what is available elsewhere, but being able to withdraw unlimited times from an account which has a monthly deposit limit of only £500 is a feature not dissimilar to the kind posessed by chocolate teapots.  Either 4.75% (variable) turns out to be a rate which is better than most, in which case it would be unwise to make use of the withdrawals, or else 4.75% (variable) turns out not to be so good compared to the alternatives, in which case it would be unwise to leave more than the minimum balance in the account for any longer than you have to.

Comparing to (say) Coventry's 5 Access Saver (Online) (2) account - currently 4.66%, dropping to 4.5% on 03/03 - the Nottingham offer doesn't look so tempting to me.  The Coventry limited access account doesn't have the limited monthly deposits, and the number of accesses means it can be dipped into if necessary and/or if the rate becomes uncompetitive.  Most of all, it can be managed entirely online without need to phone up to check whether deposits have been received, or visiting a branch to open/withdraw.

I like the Nottingham.  The branch staff are lovely and helpful.  But the management need to sort themselves out when it comes to online access, and they need to up their game on interest rates and go back to the days when it was worth running several Nottingham RS accounts at the same time because they were consistently up there with the best.  In my view this is an OK product if you can get to a branch with minimal time/financial expense, but personally I wouldn't want the Nottingham's senior management to rest on their laurels thinking what they were offering was "excellent".  Other views are equally valid though.

In my scenario any RS that's better (or the same as) my easy access 'float' gets applied for (currently 4.75%). So your Coventry comparison which has only a limited amount of withdrawals, is irrelevant to me.

The unlimited access makes it even better.

All down to personal circumstances as Notts have plenty of branches close by me.

I too remember the days of having half a dozen Notts RS running consecutively - but their rates were much more competitive then.

Probably trying to recoup their rebranding debacle money.

Fingers crossed this is the start of them being competitive again in the RS (including mini cash ISA) market.

Not sure who this "Notts" you speak of is, there's a Nottingham BS but the only Nottinghamshire building society I'm aware of is Mansfield  

Seems a lot of faff for an account with no arbitrage over easy access you already hold but to each their own.

Even, some of, the staff in the two nearby branches (one walkable for me) refer to themselves as Notts when we chat - apologies if you're unfamiliar with this term.

I guess it depends on what you define as a 'lot of faff'.  Whilst I've got the time to do this and the rate will be higher (my float rate is reportedly reducing to 4.5 in March) it makes perfect sense to me.

If it doesn't to you then so be it.

Stargunner

simonsmithsays said:

WillPS said:

simonsmithsays said:

Section62 said:

simonsmithsays said:

Bridlington1 said:

Additionally Nottingham BS Branch Regular Saver 2 has been launched at 4.75% var (branch only), £500/mth max, unlimited withdrawals.

The unlimited withdrawals make this an excellent product for those near a branch.

Nottingham

Not sure I'd go as far as "excellent".  The unlimited withdrawals are useful in case Nottingham reduce the rate significantly below what is available elsewhere, but being able to withdraw unlimited times from an account which has a monthly deposit limit of only £500 is a feature not dissimilar to the kind posessed by chocolate teapots.  Either 4.75% (variable) turns out to be a rate which is better than most, in which case it would be unwise to make use of the withdrawals, or else 4.75% (variable) turns out not to be so good compared to the alternatives, in which case it would be unwise to leave more than the minimum balance in the account for any longer than you have to.

Comparing to (say) Coventry's 5 Access Saver (Online) (2) account - currently 4.66%, dropping to 4.5% on 03/03 - the Nottingham offer doesn't look so tempting to me.  The Coventry limited access account doesn't have the limited monthly deposits, and the number of accesses means it can be dipped into if necessary and/or if the rate becomes uncompetitive.  Most of all, it can be managed entirely online without need to phone up to check whether deposits have been received, or visiting a branch to open/withdraw.

I like the Nottingham.  The branch staff are lovely and helpful.  But the management need to sort themselves out when it comes to online access, and they need to up their game on interest rates and go back to the days when it was worth running several Nottingham RS accounts at the same time because they were consistently up there with the best.  In my view this is an OK product if you can get to a branch with minimal time/financial expense, but personally I wouldn't want the Nottingham's senior management to rest on their laurels thinking what they were offering was "excellent".  Other views are equally valid though.

In my scenario any RS that's better (or the same as) my easy access 'float' gets applied for (currently 4.75%). So your Coventry comparison which has only a limited amount of withdrawals, is irrelevant to me.

The unlimited access makes it even better.

All down to personal circumstances as Notts have plenty of branches close by me.

I too remember the days of having half a dozen Notts RS running consecutively - but their rates were much more competitive then.

Probably trying to recoup their rebranding debacle money.

Fingers crossed this is the start of them being competitive again in the RS (including mini cash ISA) market.

Not sure who this "Notts" you speak of is, there's a Nottingham BS but the only Nottinghamshire building society I'm aware of is Mansfield  

Seems a lot of faff for an account with no arbitrage over easy access you already hold but to each their own.

Even, some of, the staff in the two nearby branches (one walkable for me) refer to themselves as Notts when we chat - apologies if you're unfamiliar with this term.

I guess it depends on what you define as a 'lot of faff'.  Whilst I've got the time to do this and the rate will be higher (my float rate is reportedly reducing to 4.5 in March) it makes perfect sense to me.

If it doesn't to you then so be it.

With no online access, I imagine that this will be of no interest to most, unless they live within walking distance of a branch, because with such a small variation in interest rates to other easy access accounts, the extra interest on the limited deposits would barely pay for the car park fee when you want to make a withdrawal.