The Top Regular Savers Discussion Thread

Descrabled

Coventry

Just realised that I have Coventry FHS1 (NLA) that allows multiple withdrawals but only £1000 addition per month. I also have Coventry 4 Access Saver (NLA) that allows unlimited additions but limited withdrawals.

Both accounts pay the same interest at 4.85% so I should make all withdrawals from the FHS and all additions to the 4AS. These accounts are my lowest interest rate accounts and provide the ultimate source of any funds I need for my other regular savers.

Have I got this right?

happybagger

Hanley's online platform has been down all morning, for anyone thinking of using it today for withdrawing from their RS due to the forthcoming rate cut should be aware.

HEBS acknowledge the issue.

Kim_13

Descrabled said:

Coventry

Just realised that I have Coventry FHS1 (NLA) that allows multiple withdrawals but only £1000 addition per month. I also have Coventry 4 Access Saver (NLA) that allows unlimited additions but limited withdrawals.

Both accounts pay the same interest at 4.85% so I should make all withdrawals from the FHS and all additions to the 4AS. These accounts are my lowest interest rate accounts and provide the ultimate source of any funds I need for my other regular savers.

Have I got this right?

I got FHS1 in the last day or so it was available and the 3 year term ends in December. Adding to the FHS1 at £1,000 a month can’t hurt, anything above the £1,000 can go to the 4AS as you say - and there would be nothing to prevent internally transferring the full balance of the FHS1 to the 4AS on maturity.

The reason for continuing to fund the FHS1 now is that if the 4AS rate fell below it, you would then be limited as to how much you could move. Withdrawals from the FHS1 as you say - then your full 4 accesses should be available when you no longer have a FHS1.

castle96

I have a note that the Cov FHS has "give notice (dont know what) or 60 days interest penalty" - is this wrong then? (Cant find T&C)

ForumUser7

castle96 said:

I have a note that the Cov FHS has "give notice (dont know what) or 60 days interest penalty" - is this wrong then? (Cant find T&C)

Issue 1 has not got that term.
Issue 2 does. 

jim1999

castle96 said:

I have a note that the Cov FHS has "give notice (dont know what) or 60 days interest penalty" - is this wrong then? (Cant find T&C)

The T&Cs aren't easy to find on web searches for FHS1, but they're in Bridlington's list here https://forums.moneysavingexpert.com/discussion/6470420/the-archived-history-of-regular-savers-thread-no-chat/p1

Descrabled

Coventry FHS1 (NLA)

Thanks Kim_13. I thought about a slight change in the relative interest rates. My FHS ends in November and even if the difference in interest is 0.25% that only equates to about £7 on the maximum £7k I could add to the FHS rather than the 4AS.

After HMRC takes their 20% I would only be short by a fiver, but you're right as it would be my fiver. However, I don't think I'll have £1k spare each month over the summer. I will save into the FHS where possible.

Bridlington1

jim1999 said:

castle96 said:

I have a note that the Cov FHS has "give notice (dont know what) or 60 days interest penalty" - is this wrong then? (Cant find T&C)

The T&Cs aren't easy to find on web searches for FHS1, but they're in Bridlington's list here https://forums.moneysavingexpert.com/discussion/6470420/the-archived-history-of-regular-savers-thread-no-chat/p1

They are fairly easy to guess from the link to the Ts&Cs for Issue 2 though.

FHS Issue 2's Ts&Cs have this link:
https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=FH2

Issue 1 has this link:
https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=FH1

Loyalty Seasonal Saver:
https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=LSS

Loyalty Regular Saver Issue 2:
https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=LRS2

Bridlington1

JamesRobinson48 said:

The Principality BS 1 Year Triple Access RS (5.40% variable) seems to have disappeared from Moneyfacts although the BS website still shows it as available.  If I'm right, does that mean this RS is likely to go NLA on Monday morning?

It still seems to be showing on moneyfacts for me:



It only has a max monthly deposit of £50 so shan't show if you leave the default amount as £100 but does if you set it to £50.

Bigwheels1111

My Principality BS 1 Year Triple Access RS matures on the 18th, I just tried to open a new one but I'm not allowed as reached the maximum amount. No option in my account to do anything with old account either.