The Top Regular Savers Discussion Thread

charlie12525

Hanley Economic Building Society

Received an email detailing interest rate cuts w.e.f. 01/07/25.

The one that affects me is the Online Reg Saver which drops from 4.7% to 4.4%.

This was one of my best reg savers due to the high monthly pay in allowance but I have now changed my standing order from the max of 1000 to the min of 250. Might close it later this month.

Middle_of_the_Road

charlie12525 said:

Hanley Economic Building Society

Received an email detailing interest rate cuts w.e.f. 01/07/25.

The one that affects me is the Online Reg Saver which drops from 4.7% to 4.4%.

This was one of my best reg savers due to the high monthly pay in allowance but I have now changed my standing order from the max of 1000 to the min of 250. Might close it later this month.

I've done the same as you. I'm not closing the account as the rate will still be decent for an easy access account.
Five withdrawals permitted annually, also if you miss 3 months deposits they can terminate the account.
I'll maybe miss out a couple of deposits and see how things stand. If rates were to increase, it could be worth retaining. An open ended reg.saver is a very useful account.

Section62

flaneurs_lobster said:

BestSeagull said:

One thing that was mentioned was that there is an App in the works so perhaps this current system is temporary. 

Them introducing an app is not going to help those people without a smartphone.

2FA by SMS is not the most secure of the usual methods but it's better than asking for your first pet's name over the phone.

Poor that they have simply turned it off.

Progressive

I got a bad vibe from them over their account opening and ID checking process, so decided to give them a miss, even though the RS account was a good offer.

Glad I did, as what they've done now with the SMS facility is out of order.

Not progressive at all.

soulsaver

charlie12525 said:

Hanley Economic Building Society

Received an email detailing interest rate cuts w.e.f. 01/07/25.

The one that affects me is the Online Reg Saver which drops from 4.7% to 4.4%.

This was one of my best reg savers due to the high monthly pay in allowance but I have now changed my standing order from the max of 1000 to the min of 250. Might close it later this month.

When I got to the stage that cash flow'd mean I'd have to take money from a same rate/better ac to fund the Hanleys I decided not to add any more. That was 2 months ago.

After the rate notification I've reduced the bal to £1k and I'll wait for the 60 day notice of closure (or rates everywhere else fall to make 4.40 competitive) before deciding whether to close it.

As you say, an open ended RS with a high deposit is NTH.. if the rate is even 'just OK'.

And the Skipton 5% EA needs funding....

pecunianonolet

Skipton

My regular saver matures today, will I get interest and funds today or only tomorrow and be able to open a new regular saver? I provided instructions to send funds to my nominated account.

UKX69

Section62 said:

flaneurs_lobster said:

BestSeagull said:

One thing that was mentioned was that there is an App in the works so perhaps this current system is temporary. 

Them introducing an app is not going to help those people without a smartphone.

2FA by SMS is not the most secure of the usual methods but it's better than asking for your first pet's name over the phone.

Poor that they have simply turned it off.

Progressive

I got a bad vibe from them over their account opening and ID checking process, so decided to give them a miss, even though the RS account was a good offer.

Glad I did, as what they've done now with the SMS facility is out of order.

Not progressive at all.

I was thinking of opening a R/S with them. Don’t like the excessive ID criteria though. Did you go as far as applying?

Rudyson

UKX69 said:

Section62 said:

flaneurs_lobster said:

BestSeagull said:

One thing that was mentioned was that there is an App in the works so perhaps this current system is temporary. 

Them introducing an app is not going to help those people without a smartphone.

2FA by SMS is not the most secure of the usual methods but it's better than asking for your first pet's name over the phone.

Poor that they have simply turned it off.

Progressive

I got a bad vibe from them over their account opening and ID checking process, so decided to give them a miss, even though the RS account was a good offer.

Glad I did, as what they've done now with the SMS facility is out of order.

Not progressive at all.

I was thinking of opening a R/S with them. Don’t like the excessive ID criteria though. Did you go as far as applying?

I was verified electronically when I opened the account, you may not need to jump through any ID hoops

nottsphil

Kim_13 said:

Loughborough have added a new interest rate sheet to their website; currently available Super Savers (Local) and the NLA Holiday Monthly Saver have escaped unchanged.

Source: https://www.theloughborough.co.uk/wp-content/uploads/2023/04/Interest-Rate-Poster-2-June-2025-1.pdf

Oddly, two of the regular savers are not listed under previous rates yet they were available in April.

Section62

UKX69 said:

Section62 said:

flaneurs_lobster said:

BestSeagull said:

One thing that was mentioned was that there is an App in the works so perhaps this current system is temporary. 

Them introducing an app is not going to help those people without a smartphone.

2FA by SMS is not the most secure of the usual methods but it's better than asking for your first pet's name over the phone.

Poor that they have simply turned it off.

Progressive

I got a bad vibe from them over their account opening and ID checking process, so decided to give them a miss, even though the RS account was a good offer.

Glad I did, as what they've done now with the SMS facility is out of order.

Not progressive at all.

I was thinking of opening a R/S with them. Don’t like the excessive ID criteria though. Did you go as far as applying?

I was one of those who tried applying (several times) only for the application process to fall over before it completed, or for the online ID check to fail.  In the end I spoke to a CS agent about a manual ID check, but their method didn't sound secure.  By then I'd had enough of them.

There was a fair amount of discussion about it at the time. CuparLad's post here is a reasonable summary of how bad it was if you weren't one of the lucky ones for whom everything worked fine...

https://forums.moneysavingexpert.com/discussion/comment/80880475/#Comment_80880475

Bigwheels1111

pecunianonolet said:

Skipton

My regular saver matures today, will I get interest and funds today or only tomorrow and be able to open a new regular saver? I provided instructions to send funds to my nominated account.

My Skipton matured on the 29th.

It does not mature until midnight as such.

I got paid on the 30th and opened a new reg saver the same day.