The Top Regular Savers Discussion Thread

csw5780

flaneurs_lobster said:

poshrule_uk said:

I have miscalculated the amount of funds I have for my HSBC Regular Saver this month and reduced my standing order down and have now realised I could have met the full amount of £250. As the standing order is due tomorrow I can't increase the amount back up. Can I just transfer over the difference tomorrow to make it up to £250 or have I got to wait until next month so I can pay in this month's subscription?

Don't believe so, payments have to be by standing order. As you say you can add any shortfall from this month's max onto next month's payment.

Might be worth asking their CS about a late SO change but I think that anything paying tomorrow is well into the payment cycle and probably can't be amended.

I cancelled my SO after the first payment. I use internal transfer from my HSBC current account without issue. 

janusdesign

flaneurs_lobster said:

poshrule_uk said:

I have miscalculated the amount of funds I have for my HSBC Regular Saver this month and reduced my standing order down and have now realised I could have met the full amount of £250. As the standing order is due tomorrow I can't increase the amount back up. Can I just transfer over the difference tomorrow to make it up to £250 or have I got to wait until next month so I can pay in this month's subscription?

Don't believe so, payments have to be by standing order.

I don't believe that payments have to be made via Standing Order - or at least if that is a condition (I know it says it on page 1 too), it isn't enforced.
I think it was previously discussed in this thread (which is where I got the idea) that you could cancel the SO and, as long as the payments are received from the relevant HSBC current account, those deposits will be fine - this is what I do, I transfer £250 from my main banking external current account to the HSBC current account and then do an internal transfer across to the regular saver... i've done that for at least the last 9 months with no issues.

flaneurs_lobster

janusdesign said:

flaneurs_lobster said:

poshrule_uk said:

I have miscalculated the amount of funds I have for my HSBC Regular Saver this month and reduced my standing order down and have now realised I could have met the full amount of £250. As the standing order is due tomorrow I can't increase the amount back up. Can I just transfer over the difference tomorrow to make it up to £250 or have I got to wait until next month so I can pay in this month's subscription?

Don't believe so, payments have to be by standing order.

I don't believe that payments have to be made via Standing Order - or at least if that is a condition (I know it says it on page 1 too), it isn't enforced.
I think it was previously discussed in this thread (which is where I got the idea) that you could cancel the SO and, as long as the payments are received from the relevant HSBC current account, those deposits will be fine - this is what I do, I transfer £250 from my main banking external current account to the HSBC current account and then do an internal transfer across to the regular saver... i've done that for at least the last 9 months with no issues.

I stand corrected, I don't have one of these RSs and assumed (wrongly) that it would be as the First Direct equivalent, unless I'm wrong about that too?

masonic

flaneurs_lobster said:

janusdesign said:

flaneurs_lobster said:

poshrule_uk said:

I have miscalculated the amount of funds I have for my HSBC Regular Saver this month and reduced my standing order down and have now realised I could have met the full amount of £250. As the standing order is due tomorrow I can't increase the amount back up. Can I just transfer over the difference tomorrow to make it up to £250 or have I got to wait until next month so I can pay in this month's subscription?

Don't believe so, payments have to be by standing order.

I don't believe that payments have to be made via Standing Order - or at least if that is a condition (I know it says it on page 1 too), it isn't enforced.
I think it was previously discussed in this thread (which is where I got the idea) that you could cancel the SO and, as long as the payments are received from the relevant HSBC current account, those deposits will be fine - this is what I do, I transfer £250 from my main banking external current account to the HSBC current account and then do an internal transfer across to the regular saver... i've done that for at least the last 9 months with no issues.

I stand corrected, I don't have one of these RSs and assumed (wrongly) that it would be as the First Direct equivalent, unless I'm wrong about that too?

First Direct does require a standing order, so yes HSBC is different.

WillPS

flaneurs_lobster said:

janusdesign said:

flaneurs_lobster said:

poshrule_uk said:

I have miscalculated the amount of funds I have for my HSBC Regular Saver this month and reduced my standing order down and have now realised I could have met the full amount of £250. As the standing order is due tomorrow I can't increase the amount back up. Can I just transfer over the difference tomorrow to make it up to £250 or have I got to wait until next month so I can pay in this month's subscription?

Don't believe so, payments have to be by standing order.

I don't believe that payments have to be made via Standing Order - or at least if that is a condition (I know it says it on page 1 too), it isn't enforced.
I think it was previously discussed in this thread (which is where I got the idea) that you could cancel the SO and, as long as the payments are received from the relevant HSBC current account, those deposits will be fine - this is what I do, I transfer £250 from my main banking external current account to the HSBC current account and then do an internal transfer across to the regular saver... i've done that for at least the last 9 months with no issues.

I stand corrected, I don't have one of these RSs and assumed (wrongly) that it would be as the First Direct equivalent, unless I'm wrong about that too?

First Direct is the only one to enforce payment by standing order/from linked current account AIUI.

Santander and Zopa don't provide BACS details so you can only internally transfer.

HSBC, LBG and maybe some others state that it should/must be but actually don't care how the money gets to them.

poshrule_uk

Thanks everyone. I will transfer the difference over in the morning!

Hattie627

Bridlington1 said:

Just a reminder the following interest rate cuts come into effect tomorrow:

Account	Old rate	New rate	Date
Skipton Home Deposit Saver Issue 1-3	4.56%	4.31%	09/06/2025
Suffolk BS Online 1 Year Variable Rate Regular Saver (30.09.2025)	5.00%	4.75%	09/06/2025
Suffolk BS Variable Rate Regular Saver (31.05.2026)	4.80%	4.55%	09/06/2025
Suffolk BS 1 Year Variable Rate Regular Saver (31.12.2025) (includes online)	5.00%	4.75%	09/06/2025
Suffolk BS 2 Year Variable Rate Regular Saver (31.12.2026)	4.80%	4.55%	09/06/2025
Suffolk BS 1 Year Variable Rate Regular Saver (31.03.2026) (includes online)	5.00%	4.75%	09/06/2025
Suffolk BS 2 Year Variable Rate Regular Saver (31.12.2025)	4.80%	4.55%	09/06/2025

Thanks for the timely reminder.

I've today closed my Skipton BS Home Deposit Saver Issue 1. Rate is falling to 4.31% tomorrow, which is lower than currently achievable on instant access. I opened the HDS in July 2024 and it was due to last for two years, but early closure is allowed (not partial withdrawals). Balance of £6000 in the account with closing interest being credited of £125.24.

Money_Grabber13579

My second principality account has matured and it was also blocked from maturing into a 2nd regular saver account (but not by the same person who was mentioned here previously). So looks like that opportunity might be coming to an end.

surreysaver

Money_Grabber13579 said:

My second principality account has matured and it was also blocked from maturing into a 2nd regular saver account (but not by the same person who was mentioned here previously). So looks like that opportunity might be coming to an end.

I've got four. I wonder if they're going to go through and have a cull?

janusdesign

Money_Grabber13579 said:

My second principality account has matured and it was also blocked from maturing into a 2nd regular saver account (but not by the same person who was mentioned here previously). So looks like that opportunity might be coming to an end.

your best bet would have been to give them a call before maturity - they did it for me (so that's my 3rd) despite what I was told by secure messaging.