The Top Regular Savers Discussion Thread

Bobblehat

happybagger said:

Yes I had that chat the other day with them (furness), described as a Christmas saver, coming out during Jan, said "couldn't remember" the rate but it was "more than the current one" (sitting at 4.75). Did say they'd open it up by phone if need be, save a branch visit.

In case it mirrors last year's, 6%, it went live 12 Jan 2024.

You've reminded me of another bit of info I gleaned from the branch visit today ... phoning a branch now diverts you through to Barrow HQ, you used to be able to phone your branch directly.

That link you posted mentions Friday 12th Jan 2024 as launch date of the soon to be maturing version. Just like Chris_the_bee, mine started on 10/1/2024 with a branch visit! Brid also confirms an even earlier start date, so I'm looking forward to next Monday 

Hope I'm not disappointed or unnecessarily raising peoples' hopes!

surreysaver

ForumUser7 said:

Ecology Building Society Regular Saver

Now this account no longer accepts direct debit deposits, what have people done with it please?

It's one of those open ended accounts, but requires monthly funding, has a period after closure during which you cannot open another, but is at a very low rate so difficult to know, and has limited withdrawals.

I already have an easy access with them, so would retain my membership through that.

Thanks!

I'm still expecting one direct debit to be taken. Once this has been taken I will just reduce the account to the minimum required to keep it open (I believe it's £10) just to keep a relationship with Ecology just in case it becomes worth it later 

ForumUser7

surreysaver said:

ForumUser7 said:

Ecology Building Society Regular Saver

Now this account no longer accepts direct debit deposits, what have people done with it please?

It's one of those open ended accounts, but requires monthly funding, has a period after closure during which you cannot open another, but is at a very low rate so difficult to know, and has limited withdrawals.

I already have an easy access with them, so would retain my membership through that.

Thanks!

I'm still expecting one direct debit to be taken. Once this has been taken I will just reduce the account to the minimum required to keep it open (I believe it's £10) just to keep a relationship with Ecology just in case it becomes worth it later 

Are you going to set up a standing order or something instead to fund, or just leave it at £10 and see what happens? Think it’s one of the ones that requires a monthly payment

EDIT: Having looked at the terms again, I’m not sure if it does require monthly payment. Anyone know please? Perhaps they changed the ts and cs 

Born2Save_3

IanManc said:

Bridlington1 said:

qbadger said:

AmityNeon said:

qbadger said:

AmityNeon said:

qbadger said:

Vernon BS Online Regular Saver

Deposits on non-working days: can anyone confirm whether deposits on non-working days are in fact treated as having been received the same day, please?

The value/posted dates for my deposits on Sunday 01 Dec and New Year's Day are next working day (02/12/24 and 02/01/25) in the transaction history.

Does the word 'value' appear anywhere? Is there any indication in your Vernon BS transaction history indicating the dates of the non-working days the payments were sent?

No. Nothing in the transaction history to suggest that deposits are processed on non-working days.

In that case I think it's likely that payments sent on non-working days are only received by Vernon BS (for interest purposes) on the next working day.

Assuming you've always deposited £250 per month, if the opening deposit was somehow sent on Sunday 10 November and you received £0.93 interest at the end of the month, then non-working days are included.

The £250 opening deposit was sent (and credited) on Mon 11 Nov. The interest received on 30 Nov 24 was £0.89, reconciling to 20 days at 6.5%. Unfortunately my case doesn't really help with reverse engineering the answer to this question regarding the treatment of deposit on non-working day right now - for that we require the data from someone who sent funds on a non-working day prior to 30 Nov 24.

Thanks for the reports on payments into Vernon.

Vernon are among the few banks/building societies on the first page that I've never sent a payment to so went off the general Ts&Cs when writing the first page, which weren't as clear as some of the others regarding payments received on non-working days.

I've amended the first page of the thread to reflect this info. For now I'll err on the side of caution and assume payments received on non-working days are treated as having been received the next working day for interest purposes until I've seen further reports/info on how Vernon handle payments in.

I did a bank transfer into my Vernon Online Regular Saver on the morning of 1st January and it is shown in my account dated 2nd January.

Yes, second that, my transfers on the first of the month for the past four months, are shown in Vernon as :

02/01/2025     STANDING ORDER
02/12/2024     STANDING ORDER
01/11/2024     STANDING ORDER
01/10/2024     STANDING ORDER

All transfers were a manual faster payment, which is shown as a standing order in Vernon.

Born2Save_3

Does anyone have any news on having a second Progressive RS ?

I'm tempted but concerned about being penalised on the one hand and missing the opportunity of the other hand.

I've been in touch with MHBS several times in the past two weeks and I've not had any negative comments regarding having two RS and fully funding them in December or this month, January.

If anyone used the Ulster Loyalty Saver over the past year, interest was paid today and accessible at around 3am, even though the transaction is stated as yesterday 2/1/25.  Was the same for NatWest Digital Regular Saver also; Interest stated as 2/1/25 but not actually credited till after 3am today.  I'm thinking about making a complaint over this.

Bigwheels1111

All I know is I've made 2 payments £500 in total and have a SO in place, but who knows what will happen.

Same with MHBS, It's a big game.

ForumUser7

Born2Save_3 said:

Does anyone have any news on having a second Progressive RS ?

I'm tempted but concerned about being penalised on the one hand and missing the opportunity of the other hand.

I've been in touch with MHBS several times in the past two weeks and I've not had any negative comments regarding having two RS and fully funding them in December or this month, January.

If anyone used the Ulster Loyalty Saver over the past year, interest was paid today and accessible at around 3am, even though the transaction is stated as yesterday 2/1/25.  Was the same for NatWest Digital Regular Saver also; Interest stated as 2/1/25 but not actually credited till after 3am today.  I'm thinking about making a complaint over this.

Re NW DRS - That is normal for the account. As far as I can recall, interest is added on the first working day, and shows from the day after that (perhaps the working day after that).

surreysaver

ForumUser7 said:

surreysaver said:

ForumUser7 said:

Ecology Building Society Regular Saver

Now this account no longer accepts direct debit deposits, what have people done with it please?

It's one of those open ended accounts, but requires monthly funding, has a period after closure during which you cannot open another, but is at a very low rate so difficult to know, and has limited withdrawals.

I already have an easy access with them, so would retain my membership through that.

Thanks!

I'm still expecting one direct debit to be taken. Once this has been taken I will just reduce the account to the minimum required to keep it open (I believe it's £10) just to keep a relationship with Ecology just in case it becomes worth it later 

Are you going to set up a standing order or something instead to fund, or just leave it at £10 and see what happens? Think it’s one of the ones that requires a monthly payment

EDIT: Having looked at the terms again, I’m not sure if it does require monthly payment. Anyone know please? Perhaps they changed the ts and cs 

Ecology 
 I've got an email dated 14th February 2024 stating you no longer need to make monthly deposits. I think it's the same time they removed the ability to pay in by direct debit for new accounts.

ForumUser7

surreysaver said:

ForumUser7 said:

surreysaver said:

ForumUser7 said:

Ecology Building Society Regular Saver

Now this account no longer accepts direct debit deposits, what have people done with it please?

It's one of those open ended accounts, but requires monthly funding, has a period after closure during which you cannot open another, but is at a very low rate so difficult to know, and has limited withdrawals.

I already have an easy access with them, so would retain my membership through that.

Thanks!

I'm still expecting one direct debit to be taken. Once this has been taken I will just reduce the account to the minimum required to keep it open (I believe it's £10) just to keep a relationship with Ecology just in case it becomes worth it later 

Are you going to set up a standing order or something instead to fund, or just leave it at £10 and see what happens? Think it’s one of the ones that requires a monthly payment

EDIT: Having looked at the terms again, I’m not sure if it does require monthly payment. Anyone know please? Perhaps they changed the ts and cs 

Ecology 
 I've got an email dated 14th February 2024 stating you no longer need to make monthly deposits. I think it's the same time they removed the ability to pay in by direct debit for new accounts.

Thank you very much for sharing this - I just went to update my spreadsheet, and found I actually had noted it down, but then completely forgot about it.

Given their EA is a lower rate, and requires a higher minimum balance (£10 vs £25), I may in fact close my Ecology Easy Access and retain my Ecology Regular Saver instead. Seems to be the best option, unless I have forgotten anything about that account too 😂

AmityNeon

Born2Save_3 said:

If anyone used the Ulster Loyalty Saver over the past year, interest was paid today and accessible at around 3am, even though the transaction is stated as yesterday 2/1/25. Was the same for NatWest Digital Regular Saver also; Interest stated as 2/1/25 but not actually credited till after 3am today. I'm thinking about making a complaint over this.

What do you hope to achieve with a complaint? Their product literature is explicitly clear on this:

Interest is calculated on a daily basis and paid into your account on the first business day of the month. You’ll be able to see and access the interest in your account on the following day.

The value date of the interest credit is still the first business day of the month, so if you wished, you could make a withdrawal on the first business day of the month equal to the amount of expected interest without actually reducing your effective balance for the purposes of interest calculation and accrual.