The Top Regular Savers Discussion Thread

Bridlington1

Hattie627 said:

Anyone else finding the merry-go-round of interest rate changes every couple of months exhausting? I'm very glad that most of my regular savers are fixed rate.

Not exhausting but I must confess I found it more fun when interest rates were rising.

clairec666

Haha, definitely more fun when rates were rising, but actually I quite enjoy the challenge of working out my regular saver strategy. Any excuse to play around with a spreadsheet!

ernie-money

Sorry if the question has been asked before, but does anyone know; if you have a joint Virgin current account - would both account holders qualify for the regular savings account please?

PowerSavingMode

ernie-money said:

Sorry if the question has been asked before, but does anyone know; if you have a joint Virgin current account - would both account holders qualify for the regular savings account please?

RE: Virgin Money Regular Saver Exclusive Issue 2 

I believe so, according to a quick Google search:

"Yes, if you have a joint Virgin Money current account, both account holders would be eligible to open and benefit from the Regular Savings Account. The key is that the current account must be an eligible one, like the M Plus, M, or Club M account, not the Essential or Virgin Money Current Account. Both individuals named on the joint current account would then be able to access the linked savings account and its features, according to Virgin Money's website. "

I'd just try it and see what happens. If Virgin M say no, fair enough, but if they accept, great!

allegro120

ernie-money said:

Sorry if the question has been asked before, but does anyone know; if you have a joint Virgin current account - would both account holders qualify for the regular savings account please?

Yes, joint VM current account qualifies both account holders to have a regular saver each.

Bigwheels1111

Just got a nice surprise, FD reg saver matured today.
Also paid today into the savings account it used last year, I kept it open.
Matured and paid same day, a miracle for FD.
Just waiting for the new reg saver to open, applied yesterday.

pfpf

FD. can one open and fund the RS on say 28/5/2025 and then credit 1st of June onwards?

its stated that funding must be by SO, is that actually the case? can't transfer from current account? if its SO only can it be from another bank or again from your FD current account?

masonic

pfpf said:

FD. can one open and fund the RS on say 28/5/2025 and then credit 1st of June onwards?

its stated that funding must be by SO, is that actually the case? can't transfer from current account? if its SO only can it be from another bank or again from your FD current account?

It has to be by SO from your FD account or the payment will bounce. You can set up your own SO with a different date, but payments above the maximum balance for the account month will only earn interest at the standard savings account rate.

clairec666

pfpf said:

FD. can one open and fund the RS on say 28/5/2025 and then credit 1st of June onwards?

its stated that funding must be by SO, is that actually the case? can't transfer from current account? if its SO only can it be from another bank or again from your FD current account?

When I opened my account, a SO was set up automatically, and somewhere they stated that you can't change its date, only the amount. And it must come from your First Direct account. I have not tried to change mine, so can't confirm that they actually enforce these rules.

pfpf

thanks to you both. if only i'd actually done the difficult task of reading the OP....

Special conditions: Payments must be made by standing order from your First Direct current account and must be made on the monthiversary of the account being opened. If you pay in less than £300 per month then you can make up the extra  amount in future months - your maximum balance goes up by £300 per month. You must hold a First Direct 1st current account for as long as you hold this account. You can vary the standing order amount by telephone.