The Top Regular Savers Discussion Thread

Dizzycap

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.

I have exactly the same combination: 2 general launches of The Christmas RS & RS Issue 3 & the rest as maturity options. There is absolutely nothing wrong or incorrect with havng 2 or more of the same PBS savings account in a sole name, providing the other accounts were opened as maturity options.

Having said that, application errors do occur and sometimes you end up with 2 of the same savings account when the T&C's clearly state only one - this happened to me last year with both the YBS Christmas RS & The Co-Op RS.

masonic

subjecttocontract said:

I take an even more simplistic view. Pay the regular savers by s/o and just forget about them until maturity. 

I'd love to implement more automation into my monthly routine, but in practice it is very difficult.

First, the money must be moved from the a savings account, which changes from time to time, to my main account. Then it does a circuit around the current accounts that require monthly funding (and I may as well make internal transfers to the RS at those banks while I take care of that). Finally, payments direct into the remaining RS.

I know one or two banks allow standing orders to pay out on non-working days, but not any I use currently. And if I have to rely on myself to get money into the source account, then I consider it a risk if I am unable to do so, simply manage to forget, or fall victim to a delay or banking failure.

At least with my manual 10 minute roundabout once a month, nothing gets triggered without the funds being received into each sending account.

I remember at the advent of Open Banking imagining this sort of flow of payments being possible to automate seamlessly from a third party provider, but nothing anywhere near this seems possible. The best I've seen is a single savings provider randomly helping itself to money it thinks you won't spend that month.

schiff

It 's a healthy sign that we all have our tricks and foibles.

HillStreetBlues

With the Lloyds Club reg saver can you open & fund it straight after the opening of the current account or is there a lag?

masonic

HillStreetBlues said:

With the Lloyds Club reg saver can you open & fund it straight after the opening of the current account or is there a lag?

Pretty sure I opened and funded my first RS immediately after the current account was visible.

Bobblehat

Although with the Club Lloyds RS you could maybe wait until very late in July to start and fund the RS, then make the 2nd payment on 1st August. That would turn your estimated £161 interest for £400 payments starting now into an estimated £185 with a 13th payment or £183 if you decide to go with just 12 payments.

Edit: Although there is a small risk of Lloyds altering the rate while you wait.

Slinky

Anybody experiencing difficulty getting into the Furness App this evening?

chris_the_bee

Slinky said:

Anybody experiencing difficulty getting into the Furness App this evening?

Received by email a few days ago:-

Dear Member

We're getting in touch to let you know about some planned improvements to your digital services.

To carry out this work, access to the Furness Digital Savings web platform and our mobile apps (iOS and Android) will be temporarily unavailable at the following times:
- From 6pm on Saturday 5th July until 6pm on Sunday 6th July
- From 4pm until 9pm on Monday 7th July

Slinky

Thanks, I hadn't spotted the email.

Slinky

I've got a Principality RS2 maturing this month. I've been offered RS3 as a maturing option. I already have a RS3 account. I'm not sure which option I need to pick to put £200 into the new bond and get the rest back.  Is it

Take out all your money and open a new Regular Saver Bond

or is it

Take some money out and move the rest into a new savings account

I'm thinking it's probably the first option.

Somehow I've managed to get £1400 into this account