The Top Regular Savers Discussion Thread

apt

Stolas said:

allegro120 said:

Stolas said:

allegro120 said:

clairec666 said:

mebu60 said:

Principality 6 Month RS 7.5% AER / 7.36% gross

Apologies if already mentioned, I've only skimmed back two pages. 

My existing 6 Month RS 8.0% matures 3 September. About to find out if can have 6 Month RSs (plus Christmas RS 7.0%). 

You should be able to get the 7.5% account (which is issue 3) as your 8% account was a previous issue. You can have one of each issue.

You can have as many as you can get of each issue.  I have four issue 3 accounts.

How exactly do you manage this - do you simply open multiple accounts and hope they don’t notice? 

The terms seem pretty clear “This can be a joint account, but you can’t have more than one of this issue number of the Regular Saver in your name.” 

I opened the first issue3 when it was launched.  The other 3 were offered as maturity options for other Regular Savers.  I also have two Christmas RSs, first was opened at the launch - second as a maturity option.

Ah I see! I have an issue 2 regular saver maturing this month, so if I’m understanding you correctly I can transfer across that balance to a new issue 3 at maturity? 

You can only transfer £200 as the first month's payment.

friolento

allegro120 said:

Middle_of_the_Road said:

20122013 said:

SANTANDER MONTHLY SAVER -  how can I make my monthly payment without incurring the Edge current account monthly fee? I have tried to set up a Standing Order from another bank account as I only have a 'R'account number and no sort code, so it was not possible.

PS I have posted this question already but cannot find it to delete it.

The regular saver can only be funded by standing order from your Edge current account.
Doing so will not trigger the fee. Only direct debits would do that.

No, it doesn't have to be standing order.  I was funding it directly from Santander current accounts for many years.  Last year I have set up SO for £1 from Edge CA for convenience of not needing to renew it manually every year, the rest of the money I transfer manually when I want to increase my balance.

@allegro120 may I ask what frequency your SO has? Is a once a year one sufficient, or have you set it up for once a month, or other frequency?

jameseonline

Stolas said:

allegro120 said:

Stolas said:

allegro120 said:

clairec666 said:

mebu60 said:

Principality 6 Month RS 7.5% AER / 7.36% gross

Apologies if already mentioned, I've only skimmed back two pages. 

My existing 6 Month RS 8.0% matures 3 September. About to find out if can have 6 Month RSs (plus Christmas RS 7.0%). 

You should be able to get the 7.5% account (which is issue 3) as your 8% account was a previous issue. You can have one of each issue.

You can have as many as you can get of each issue.  I have four issue 3 accounts.

How exactly do you manage this - do you simply open multiple accounts and hope they don’t notice? 

The terms seem pretty clear “This can be a joint account, but you can’t have more than one of this issue number of the Regular Saver in your name.” 

I opened the first issue3 when it was launched.  The other 3 were offered as maturity options for other Regular Savers.  I also have two Christmas RSs, first was opened at the launch - second as a maturity option.

Ah I see! I have an issue 2 regular saver maturing this month, so if I’m understanding you correctly I can transfer across that balance to a new issue 3 at maturity? 

You need to put your maturity instructions in online before it matures but £200 is the maximum that can be transferred into a converted account, otherwise I think it gets converted to an easy access on maturity day.

Also if you want another issue 3 apply for that now then do the maturity options, that way on maturity you'll have 2 issue 3 accounts, 1 with £200 that was your previous issue and 1 which is a fresher account with whatever you put in.

Keep getting new regular accounts when they come out and convert your maturing accounts using the online options & like me & others you'll end up with several 6 month accounts of the same issue, I've currently got 3 of the 6 month Issue 3's.

Your converted account details don't change either, the only thing that might be a pain is what you nickname your accounts in payee info, like do you keep it as it is/was and call your fresher account Issue 3 or do you name both your Issue 3's Issue 3 but 1 with a slight difference?. I kept mine with original names even though all my 6 months are issue 3 now.

janusd

jameseonline said:

Stolas said:

allegro120 said:

Stolas said:

allegro120 said:

clairec666 said:

mebu60 said:

Principality 6 Month RS 7.5% AER / 7.36% gross

Apologies if already mentioned, I've only skimmed back two pages. 

My existing 6 Month RS 8.0% matures 3 September. About to find out if can have 6 Month RSs (plus Christmas RS 7.0%). 

You should be able to get the 7.5% account (which is issue 3) as your 8% account was a previous issue. You can have one of each issue.

You can have as many as you can get of each issue.  I have four issue 3 accounts.

How exactly do you manage this - do you simply open multiple accounts and hope they don’t notice? 

The terms seem pretty clear “This can be a joint account, but you can’t have more than one of this issue number of the Regular Saver in your name.” 

I opened the first issue3 when it was launched.  The other 3 were offered as maturity options for other Regular Savers.  I also have two Christmas RSs, first was opened at the launch - second as a maturity option.

Ah I see! I have an issue 2 regular saver maturing this month, so if I’m understanding you correctly I can transfer across that balance to a new issue 3 at maturity? 

Keep getting new regular accounts when they come out and convert your maturing accounts using the online options & like me & others you'll end up with several 6 month accounts of the same issue, I've currently got 3 of the 6 month Issue 3's.

that is an excellent thought that had never occurred to me - their annual RS rates don't really tempt me, but throwing a £1 in either/both (with no further deposits required) for the potential of high interest RS maturity options this time next year is well worth a thought over the weekend.

jameseonline

I wonder when Principality will do an issue 4 6 month regular saver?🤔😏

allegro120

apt said:

Stolas said:

allegro120 said:

Stolas said:

allegro120 said:

clairec666 said:

mebu60 said:

Principality 6 Month RS 7.5% AER / 7.36% gross

Apologies if already mentioned, I've only skimmed back two pages. 

My existing 6 Month RS 8.0% matures 3 September. About to find out if can have 6 Month RSs (plus Christmas RS 7.0%). 

You should be able to get the 7.5% account (which is issue 3) as your 8% account was a previous issue. You can have one of each issue.

You can have as many as you can get of each issue.  I have four issue 3 accounts.

How exactly do you manage this - do you simply open multiple accounts and hope they don’t notice? 

The terms seem pretty clear “This can be a joint account, but you can’t have more than one of this issue number of the Regular Saver in your name.” 

I opened the first issue3 when it was launched.  The other 3 were offered as maturity options for other Regular Savers.  I also have two Christmas RSs, first was opened at the launch - second as a maturity option.

Ah I see! I have an issue 2 regular saver maturing this month, so if I’m understanding you correctly I can transfer across that balance to a new issue 3 at maturity? 

You can only transfer £200 as the first month's payment.

Just to add. The account number remains the same, which is handy for those who are using SOs and for me too because I don't need to set up another payee.

allegro120

friolento said:

allegro120 said:

Middle_of_the_Road said:

20122013 said:

SANTANDER MONTHLY SAVER -  how can I make my monthly payment without incurring the Edge current account monthly fee? I have tried to set up a Standing Order from another bank account as I only have a 'R'account number and no sort code, so it was not possible.

PS I have posted this question already but cannot find it to delete it.

The regular saver can only be funded by standing order from your Edge current account.
Doing so will not trigger the fee. Only direct debits would do that.

No, it doesn't have to be standing order.  I was funding it directly from Santander current accounts for many years.  Last year I have set up SO for £1 from Edge CA for convenience of not needing to renew it manually every year, the rest of the money I transfer manually when I want to increase my balance.

@allegro120 may I ask what frequency your SO has? Is a once a year one sufficient, or have you set it up for once a month, or other frequency?

I've set mine for the 18th monthly with no end date (the 18th is my reset day for this account).  I didn't know you can set up SO at any other frequency, but if you can once a year should work (I think).  The requirement for roll-over is - you need to have SO set up at the time of maturity.

mebu60

allegro120 said:

apt said:

Stolas said:

allegro120 said:

Stolas said:

allegro120 said:

clairec666 said:

mebu60 said:

Principality 6 Month RS 7.5% AER / 7.36% gross

Apologies if already mentioned, I've only skimmed back two pages. 

My existing 6 Month RS 8.0% matures 3 September. About to find out if can have 6 Month RSs (plus Christmas RS 7.0%). 

You should be able to get the 7.5% account (which is issue 3) as your 8% account was a previous issue. You can have one of each issue.

You can have as many as you can get of each issue.  I have four issue 3 accounts.

How exactly do you manage this - do you simply open multiple accounts and hope they don’t notice? 

The terms seem pretty clear “This can be a joint account, but you can’t have more than one of this issue number of the Regular Saver in your name.” 

I opened the first issue3 when it was launched.  The other 3 were offered as maturity options for other Regular Savers.  I also have two Christmas RSs, first was opened at the launch - second as a maturity option.

Ah I see! I have an issue 2 regular saver maturing this month, so if I’m understanding you correctly I can transfer across that balance to a new issue 3 at maturity? 

You can only transfer £200 as the first month's payment.

Just to add. The account number remains the same, which is handy for those who are using SOs and for me too because I don't need to set up another payee.

Someone suggested earlier to open a Principality standard EA (not triple access) then can make one transfer to that followed by internal transfers. Worth considering for sure. 

chris_the_bee

JamesRobinson48 said:

mebu60 said:

allegro120 said:

apt said:

Stolas said:

allegro120 said:

Stolas said:

allegro120 said:

clairec666 said:

mebu60 said:

Principality 6 Month RS 7.5% AER / 7.36% gross

Apologies if already mentioned, I've only skimmed back two pages. 

My existing 6 Month RS 8.0% matures 3 September. About to find out if can have 6 Month RSs (plus Christmas RS 7.0%). 

You should be able to get the 7.5% account (which is issue 3) as your 8% account was a previous issue. You can have one of each issue.

You can have as many as you can get of each issue.  I have four issue 3 accounts.

How exactly do you manage this - do you simply open multiple accounts and hope they don’t notice? 

The terms seem pretty clear “This can be a joint account, but you can’t have more than one of this issue number of the Regular Saver in your name.” 

I opened the first issue3 when it was launched.  The other 3 were offered as maturity options for other Regular Savers.  I also have two Christmas RSs, first was opened at the launch - second as a maturity option.

Ah I see! I have an issue 2 regular saver maturing this month, so if I’m understanding you correctly I can transfer across that balance to a new issue 3 at maturity? 

You can only transfer £200 as the first month's payment.

Just to add. The account number remains the same, which is handy for those who are using SOs and for me too because I don't need to set up another payee.

Someone suggested earlier to open a Principality standard EA (not triple access) then can make one transfer to that followed by internal transfers. Worth considering for sure. 

Just be aware that Principality does internal transfers manually, in response to secure messages.  I've done several recently, and two of those were done completely wrong due to clerical error. The CS apologised and fixed the errors quickly on my request. But you have to really keep on your toes, and be prepared to spend an hour on the phone if need be. It will be a long time before I do another internal transfer with Principality.

Select Manage this Account, then Move money to a linked account.
from the dropdown. Works automatically 24/7 & no CS involved

mebu60

JamesRobinson48 said:

mebu60 said:

allegro120 said:

apt said:

Stolas said:

allegro120 said:

Stolas said:

allegro120 said:

clairec666 said:

mebu60 said:

Principality 6 Month RS 7.5% AER / 7.36% gross

Apologies if already mentioned, I've only skimmed back two pages. 

My existing 6 Month RS 8.0% matures 3 September. About to find out if can have 6 Month RSs (plus Christmas RS 7.0%). 

You should be able to get the 7.5% account (which is issue 3) as your 8% account was a previous issue. You can have one of each issue.

You can have as many as you can get of each issue.  I have four issue 3 accounts.

How exactly do you manage this - do you simply open multiple accounts and hope they don’t notice? 

The terms seem pretty clear “This can be a joint account, but you can’t have more than one of this issue number of the Regular Saver in your name.” 

I opened the first issue3 when it was launched.  The other 3 were offered as maturity options for other Regular Savers.  I also have two Christmas RSs, first was opened at the launch - second as a maturity option.

Ah I see! I have an issue 2 regular saver maturing this month, so if I’m understanding you correctly I can transfer across that balance to a new issue 3 at maturity? 

You can only transfer £200 as the first month's payment.

Just to add. The account number remains the same, which is handy for those who are using SOs and for me too because I don't need to set up another payee.

Someone suggested earlier to open a Principality standard EA (not triple access) then can make one transfer to that followed by internal transfers. Worth considering for sure. 

Just be aware that Principality does internal transfers manually, in response to secure messages.  I've done several recently, and two of those were done completely wrong due to clerical error. The CS apologised and fixed the errors quickly on my request. But you have to really keep on your toes, and be prepared to spend an hour on the phone if need be. It will be a long time before I do another internal transfer with Principality.

Noted, thanks. I'll stick with multiple payments, it's not a biggie.