The Top Regular Savers Discussion Thread

Bridlington1

chris_the_bee said:

where_are_we said:

I keep virtually nothing in my current account and it has a small overdraft facility. Set up alerts on your Santander current account so that when money goes into your CA you move it that day to your easy access savings account, keeking a small balance in your CA. Like you I have numerous SO`s going to RS`s. On the days that SO`s go out I get a warning text that I need to top up my CA. I then top up in the morning from my EASA to cover that days SO`s.

It`s up to you to decide whether it`s worth a few minutes of your time some mornings each month and it`s easier now that you can use the app on your mobile whilst downing your porridge!

Santander
I think Santander will be stopping account alerts shortly.

Indeed. I got this email from them in February:

Dear Bridlington1

 

We’ll stop sending you some account alerts soon

 

We’ve noticed that you have at least 1 alert set-up on a current account or savings account you have with us.

 

We’ll stop sending some of these account alerts on 12 May 2025. This is because you can get a more detailed view of your account activity with Mobile or Online Banking. For more information search ‘Account alerts’ on our website.

 

You don't need to do anything, below are some ways you can keep up to date with your accounts. Keep an eye out for new ways we’re helping you keep track of your account activity, like push notifications.

 

Alerts we’ll stop sending

 

• When your account balance falls below a limit you’ve set
• When your account balance goes above a limit you’ve set
• When you pay more into your account than a limit you’ve set
• When you take more money out of your account than a limit you’ve set
• Weekly account balances and transactions.

 

If you’ve registered to receive them, we’ll still send you other alerts, for example, your account balance is close to your overdraft limit, or we’ve refused a payment due to a lack of funds.

 

Managing your accounts

 

You’ll receive alerts until 12 May 2025.

 

After this, you can continue to manage your accounts using our other services. There are 3 ways you can do this:

 

• By using Mobile or Online Banking
• By calling us on 0330 9 123 123. Lines are open every day from 8am-6pm
• In your local branch. To find your local branch and their opening times use our branch locator tool on the Santander website.

 

If you’ve also got a Santander Business Banking account

 

We’ll stop sending you these alerts if you have at least 1 alert set-up on a Business Banking current account or savings account. For more information search ‘Account alerts’ on our Business Banking website.

 

You’ll receive these alerts until 12 May 2025.

 

Need help with anything?

 

Simply visit the support section on our website or contact us

 

Thank you

 

The Santander Team

subjecttocontract

 I don't want to spend any more time than necessary dealing with existing savings accounts, including regular savers. I just deposit the total monthly amount required in the current account and the account pays them automatically by standing order. I don't get involved at all until the account matures.

s71hj

subjecttocontract said:

 I don't want to spend any more time than necessary dealing with existing savings accounts, including regular savers. I just deposit the total monthly amount required in the current account and the account pays them automatically by standing order. I don't get involved at all until the account matures.

This is essentially where I am. Broadly speaking I want to be a "plate spinner" doing most of the hands on at pint of setting them up then dipping in and out to keep them "spinning."  As rates come down however and my monthly regular saver requirement has escalated to now £10000 I've become conscious of money sitting earning only 2.5% waiting to go across to the regular savers

youngretired

s71hj said:

Quick question, which I hope will be accepted as being relevant to this thread. It's about feeder accounts for regular savers, and I'm wondering how people manage that side of the whole undertaking. I have about 10000 go out to regular savers at the start of the month, 1st unless a weekend and maybe 4000 spread throughout the rest of a month. This is all by standing order from Santander current account. I'm conscious that the money, therefore, sits in that for a fair proportion of the month awaiting the start of the month earning 2.5%, generally growing to the required amount by maturing savings accounts of various kinds and salary. I'm beginning to wonder if all the advantage I gain from the regular saver boosted rates is lost by the amount of time money sits there waiting for the 1st. However, I don't have the bandwidth in my life for constantly daily monitoring and manual transfers. I think ideally, I need some sort of robo thing to move money from a higher paying saving account to current account as and when I need!!!!. Any ideas or tips about how others coordinate their affairs cost/time effectively on this front much appreciated!

There are banks that allow you to set up future payments and recurring payments from a savings account into your nominated account.

Tesco Internet Savers allows you to set up future/pending payments and so you could set up a few months worth of payments in one go.

Kent Reliance Easy Access allows you to set up future/pending payments to your nominated account, so again you could set up a months worth, though they only send payments on a working day and you must have the funds in the account for all your payments at the time of setting them up, otherwise they won't process any payments and for the advertised rate you must keep a minimum of £1000.

Ford Money Flexible Saver allows future/pending payments to your nominated account and theirs you can actually set up as a recurring payment.

I have all of the above accounts and have used this method for years (Ford only recently) and have never had any issues. Tesco's I set up 4 months at a time. Kent Reliance I set up only a months worth (as I said if you don't have all the funds in the account at the time off setting the payments up, they won't process any even if you've got the money to cover the majority of them).

Hinchandrossi

s71hj said:

Quick question, which I hope will be accepted as being relevant to this thread. It's about feeder accounts for regular savers, and I'm wondering how people manage that side of the whole undertaking. I have about 10000 go out to regular savers at the start of the month, 1st unless a weekend and maybe 4000 spread throughout the rest of a month. This is all by standing order from Santander current account. I'm conscious that the money, therefore, sits in that for a fair proportion of the month awaiting the start of the month earning 2.5%, generally growing to the required amount by maturing savings accounts of various kinds and salary. I'm beginning to wonder if all the advantage I gain from the regular saver boosted rates is lost by the amount of time money sits there waiting for the 1st. However, I don't have the bandwidth in my life for constantly daily monitoring and manual transfers. I think ideally, I need some sort of robo thing to move money from a higher paying saving account to current account as and when I need!!!!. Any ideas or tips about how others coordinate their affairs cost/time effectively on this front much appreciated!

With the exception of the ones that HAVE to be standing orders like RBS/Nat West/First Direct, I do all mine manually and leave all my funds in the highest EA account I have, which at the moment is the Chase 4.8% and the Coventry 4.85% 4 access.

Personally I prefer doing it manually, at least that way I know I've got the money ready for each transfer, I think I have around 23 accounts of which 18 are manual.

I'd no doubt mess things up if they were ALL standing orders and only cause myself unnecessary aggro.

This way I can do 3 or 4 at a time off my list (highest earners first) then do other stuff and by the end of the 1st or 2nd I've usually done the lot.

clairec666

Hinchandrossi said:

With the exception of the ones that HAVE to be standing orders like RBS/Nat West/First Direct, I do all mine manually and leave all my funds in the highest EA account I have, which at the moment is the Chase 4.8% and the Coventry 4.85% 4 access.

I've managed to do my RBS and NatWest ones manually and have cancelled the standing order.

Hinchandrossi

clairec666 said:

Hinchandrossi said:

With the exception of the ones that HAVE to be standing orders like RBS/Nat West/First Direct, I do all mine manually and leave all my funds in the highest EA account I have, which at the moment is the Chase 4.8% and the Coventry 4.85% 4 access.

I've managed to do my RBS and NatWest ones manually and have cancelled the standing order.

Didn't know you could do that. They're on a standalone date for me so I'm happy keeping them how they are but thanks.

Velvet_Monkey

s71hj said:

Quick question, which I hope will be accepted as being relevant to this thread. It's about feeder accounts for regular savers, and I'm wondering how people manage that side of the whole undertaking. I have about 10000 go out to regular savers at the start of the month, 1st unless a weekend and maybe 4000 spread throughout the rest of a month. This is all by standing order from Santander current account. I'm conscious that the money, therefore, sits in that for a fair proportion of the month awaiting the start of the month earning 2.5%, generally growing to the required amount by maturing savings accounts of various kinds and salary. I'm beginning to wonder if all the advantage I gain from the regular saver boosted rates is lost by the amount of time money sits there waiting for the 1st. However, I don't have the bandwidth in my life for constantly daily monitoring and manual transfers. I think ideally, I need some sort of robo thing to move money from a higher paying saving account to current account as and when I need!!!!. Any ideas or tips about how others coordinate their affairs cost/time effectively on this front much appreciated!

I have most of my SOs coming out of an EA saver account with Chase earning 4.8%. the rest come out of a Chase saver earning 3%, and I've diarised a single  manual xfer from one to the other for those. 

Bridlington1

Hinchandrossi said:

clairec666 said:

Hinchandrossi said:

With the exception of the ones that HAVE to be standing orders like RBS/Nat West/First Direct, I do all mine manually and leave all my funds in the highest EA account I have, which at the moment is the Chase 4.8% and the Coventry 4.85% 4 access.

I've managed to do my RBS and NatWest ones manually and have cancelled the standing order.

Didn't know you could do that. They're on a standalone date for me so I'm happy keeping them how they are but thanks.

NatWest/RBS only state you must set up a SO but there's nothing I can see in the terms that state you must keep the SO or make deposits into the account by SO so you are free to cancel the SO if you wish and fund manually.

IIRC I made my first deposits into NatWest/RBS by SO back in 2022 but have made every other deposit manually and I've had no issues.

clairec666

Bridlington1 said:

NatWest/RBS only state you must set up a SO but there's nothing I can see in the terms that state you must keep the SO or make deposits into the account by SO so you are free to cancel the SO if you wish and fund manually.

NatWest explicitly states that you must set up a standing order, specifically from your NatWest account. But you can cancel it and add money from elsewhere.

The regular savers which are a bit finickity when it comes to funding are HSBC, TSB and First Direct, where they force you to have a current account with them and set up a standing order from it. First Direct in particular is a pain because you have to contact them if you want to change your standing order. If it wasn't such a good rate I'd avoid them and stick with ones that are easier to manage!