The Top Regular Savers Discussion Thread

trickydicky14

clivep said:

trickydicky14 said:

Bridlington1 said:

clairec666 said:

Bridlington1 said:

Bridlington1 said:

ForumUser7 said:

Kazza242 said:

Skipton Building Society have launched a new Regular Saver, paying 5.75% AER (variable)

- Save from £1 - £200 per month
- The account runs for 12 months
- No withdrawals, though early closure permitted
- It tracks 1.50% above Bank of England base rate for 12 months.
- The account is only available to open if you don't already hold a product from the Skipton BS Regular Saver range (either a Member Regular Saver, Branch Member Regular Saver, Regular Saver or a Branch Regular Saver)
- They have launched an online and branch-based edition of this account
- The account can be opened via Skipton Online, in the Skipton App, in branch, by post or by phone
- The interest is paid the day before the anniversary of account opening

Further details here.

Shame it's one RS only

You can get both this regular saver and the Members RS if I'm not mistaken.

The term I believe you're referring to is:

This account is only available to UK residents aged 16 or over, who don't already hold a product from our Regular Saver range (either a Member Regular Saver, Branch Member Regular Saver, Regular Saver or a Branch Regular Saver) at the time of application.

However no equivalent term appears in the Ts&Cs for the Member RS, so whilst you can't open the 5.75% RS if you currently hold the Members RS, you can open the Members RS if you hold the 5.75% RS Issue 1.

In other words if you open the RS Issue 1 at 5.75% first you should be able to open the Members RS at 6.25% and thus have both simultaneously.

There's also nothing in the terms to stop those who hold the Members RS from closing their accounts now, then opening the 5.75% RS before opening a new 6.25% Members RS.

Further to the above this seems to be how Skipton's systems are interpreting the terms too.

I had a Members RS and tried applying for the 5.75% RS, it declined my application. I've just closed my Members RS and was able to open the 5.75% RS.

It then let me immediately open a new Members RS Issue 4 at 6.25% so I now have both accounts.

Good detective work! I suspect this might be an oversight by Skipton (similar to Principality's "one of each issue" rule) and they might update their T&Cs for the Members RS at some point. For now though, both accounts track the base rate, so no harm in closing and re-opening.

Thanks. It's also worth noting too whilst I'm at it that Skipton are one of those who don't begin their account terms till the day of first deposit and you've 30 days to make your first deposit so if you wanted to play it safe you could open both accounts now and then fund on 31st to get the most benefit out of the accounts.

Can I please ask, are you saying manually fund on the 31st July and have a SO in place for the 1st August?

That's the best way although I'll probably do the initial funding a couple of days earlier. Sometimes it can take a day or two at maturity before you can start your follow-on RS and you don't want that to start at the beginning of the month.

Thanks for your post, I've already opened the two Regular savers and was following Bridlington's advice to wait till the end of the month to fund them. What I'm asking is can I pay in on the 31st and then make a second payment on the 1st.

Aidanmc

trickydicky14 said:

clivep said:

trickydicky14 said:

Bridlington1 said:

clairec666 said:

Bridlington1 said:

Bridlington1 said:

ForumUser7 said:

Kazza242 said:

Skipton Building Society have launched a new Regular Saver, paying 5.75% AER (variable)

- Save from £1 - £200 per month
- The account runs for 12 months
- No withdrawals, though early closure permitted
- It tracks 1.50% above Bank of England base rate for 12 months.
- The account is only available to open if you don't already hold a product from the Skipton BS Regular Saver range (either a Member Regular Saver, Branch Member Regular Saver, Regular Saver or a Branch Regular Saver)
- They have launched an online and branch-based edition of this account
- The account can be opened via Skipton Online, in the Skipton App, in branch, by post or by phone
- The interest is paid the day before the anniversary of account opening

Further details here.

Shame it's one RS only

You can get both this regular saver and the Members RS if I'm not mistaken.

The term I believe you're referring to is:

This account is only available to UK residents aged 16 or over, who don't already hold a product from our Regular Saver range (either a Member Regular Saver, Branch Member Regular Saver, Regular Saver or a Branch Regular Saver) at the time of application.

However no equivalent term appears in the Ts&Cs for the Member RS, so whilst you can't open the 5.75% RS if you currently hold the Members RS, you can open the Members RS if you hold the 5.75% RS Issue 1.

In other words if you open the RS Issue 1 at 5.75% first you should be able to open the Members RS at 6.25% and thus have both simultaneously.

There's also nothing in the terms to stop those who hold the Members RS from closing their accounts now, then opening the 5.75% RS before opening a new 6.25% Members RS.

Further to the above this seems to be how Skipton's systems are interpreting the terms too.

I had a Members RS and tried applying for the 5.75% RS, it declined my application. I've just closed my Members RS and was able to open the 5.75% RS.

It then let me immediately open a new Members RS Issue 4 at 6.25% so I now have both accounts.

Good detective work! I suspect this might be an oversight by Skipton (similar to Principality's "one of each issue" rule) and they might update their T&Cs for the Members RS at some point. For now though, both accounts track the base rate, so no harm in closing and re-opening.

Thanks. It's also worth noting too whilst I'm at it that Skipton are one of those who don't begin their account terms till the day of first deposit and you've 30 days to make your first deposit so if you wanted to play it safe you could open both accounts now and then fund on 31st to get the most benefit out of the accounts.

Can I please ask, are you saying manually fund on the 31st July and have a SO in place for the 1st August?

That's the best way although I'll probably do the initial funding a couple of days earlier. Sometimes it can take a day or two at maturity before you can start your follow-on RS and you don't want that to start at the beginning of the month.

Thanks for your post, I've already opened the two Regular savers and was following Bridlington's advice to wait till the end of the month to fund them. What I'm asking is can I pay in on the 31st and then make a second payment on the 1st.

Yes you can

allegro120

trickydicky14 said:

clivep said:

trickydicky14 said:

Bridlington1 said:

clairec666 said:

Bridlington1 said:

Bridlington1 said:

ForumUser7 said:

Kazza242 said:

Skipton Building Society have launched a new Regular Saver, paying 5.75% AER (variable)

- Save from £1 - £200 per month
- The account runs for 12 months
- No withdrawals, though early closure permitted
- It tracks 1.50% above Bank of England base rate for 12 months.
- The account is only available to open if you don't already hold a product from the Skipton BS Regular Saver range (either a Member Regular Saver, Branch Member Regular Saver, Regular Saver or a Branch Regular Saver)
- They have launched an online and branch-based edition of this account
- The account can be opened via Skipton Online, in the Skipton App, in branch, by post or by phone
- The interest is paid the day before the anniversary of account opening

Further details here.

Shame it's one RS only

You can get both this regular saver and the Members RS if I'm not mistaken.

The term I believe you're referring to is:

This account is only available to UK residents aged 16 or over, who don't already hold a product from our Regular Saver range (either a Member Regular Saver, Branch Member Regular Saver, Regular Saver or a Branch Regular Saver) at the time of application.

However no equivalent term appears in the Ts&Cs for the Member RS, so whilst you can't open the 5.75% RS if you currently hold the Members RS, you can open the Members RS if you hold the 5.75% RS Issue 1.

In other words if you open the RS Issue 1 at 5.75% first you should be able to open the Members RS at 6.25% and thus have both simultaneously.

There's also nothing in the terms to stop those who hold the Members RS from closing their accounts now, then opening the 5.75% RS before opening a new 6.25% Members RS.

Further to the above this seems to be how Skipton's systems are interpreting the terms too.

I had a Members RS and tried applying for the 5.75% RS, it declined my application. I've just closed my Members RS and was able to open the 5.75% RS.

It then let me immediately open a new Members RS Issue 4 at 6.25% so I now have both accounts.

Good detective work! I suspect this might be an oversight by Skipton (similar to Principality's "one of each issue" rule) and they might update their T&Cs for the Members RS at some point. For now though, both accounts track the base rate, so no harm in closing and re-opening.

Thanks. It's also worth noting too whilst I'm at it that Skipton are one of those who don't begin their account terms till the day of first deposit and you've 30 days to make your first deposit so if you wanted to play it safe you could open both accounts now and then fund on 31st to get the most benefit out of the accounts.

Can I please ask, are you saying manually fund on the 31st July and have a SO in place for the 1st August?

That's the best way although I'll probably do the initial funding a couple of days earlier. Sometimes it can take a day or two at maturity before you can start your follow-on RS and you don't want that to start at the beginning of the month.

Thanks for your post, I've already opened the two Regular savers and was following Bridlington's advice to wait till the end of the month to fund them. What I'm asking is can I pay in on the 31st and then make a second payment on the 1st.

Yes, you can.  Just make sure you do it before 6pm, deposits made after 6pm will show within 2 hours, but won't earn interest until next working day. 

Bridlington1

trickydicky14 said:

Bridlington1 said:

clairec666 said:

Bridlington1 said:

Bridlington1 said:

ForumUser7 said:

Kazza242 said:

Skipton Building Society have launched a new Regular Saver, paying 5.75% AER (variable)

- Save from £1 - £200 per month
- The account runs for 12 months
- No withdrawals, though early closure permitted
- It tracks 1.50% above Bank of England base rate for 12 months.
- The account is only available to open if you don't already hold a product from the Skipton BS Regular Saver range (either a Member Regular Saver, Branch Member Regular Saver, Regular Saver or a Branch Regular Saver)
- They have launched an online and branch-based edition of this account
- The account can be opened via Skipton Online, in the Skipton App, in branch, by post or by phone
- The interest is paid the day before the anniversary of account opening

Further details here.

Shame it's one RS only

You can get both this regular saver and the Members RS if I'm not mistaken.

The term I believe you're referring to is:

This account is only available to UK residents aged 16 or over, who don't already hold a product from our Regular Saver range (either a Member Regular Saver, Branch Member Regular Saver, Regular Saver or a Branch Regular Saver) at the time of application.

However no equivalent term appears in the Ts&Cs for the Member RS, so whilst you can't open the 5.75% RS if you currently hold the Members RS, you can open the Members RS if you hold the 5.75% RS Issue 1.

In other words if you open the RS Issue 1 at 5.75% first you should be able to open the Members RS at 6.25% and thus have both simultaneously.

There's also nothing in the terms to stop those who hold the Members RS from closing their accounts now, then opening the 5.75% RS before opening a new 6.25% Members RS.

Further to the above this seems to be how Skipton's systems are interpreting the terms too.

I had a Members RS and tried applying for the 5.75% RS, it declined my application. I've just closed my Members RS and was able to open the 5.75% RS.

It then let me immediately open a new Members RS Issue 4 at 6.25% so I now have both accounts.

Good detective work! I suspect this might be an oversight by Skipton (similar to Principality's "one of each issue" rule) and they might update their T&Cs for the Members RS at some point. For now though, both accounts track the base rate, so no harm in closing and re-opening.

Thanks. It's also worth noting too whilst I'm at it that Skipton are one of those who don't begin their account terms till the day of first deposit and you've 30 days to make your first deposit so if you wanted to play it safe you could open both accounts now and then fund on 31st to get the most benefit out of the accounts.

Can I please ask, are you saying manually fund on the 31st July and have a SO in place for the 1st August?

I'll be funding on 31st July and again on 1st August. I fund manually by faster payment unless the terms of the account state I must fund a different way.

Andystriker

Dudley Building Society

 

At their AGM today, it was announced that they are launching a new Regular Saver tomorrow. 

When the AGM closed, they were asked about the details of said new regular saver, and the chief Exec said that it would be 6% for existing members and 5% for new.  When asked how much can be deposited, he intimated it would be £250 per month and be a 12-month account.  He gave very vague answers and he did not seem to know a lot about this new account.   

We will have to wait and see 

jaypers

Andystriker said:

Dudley Building Society

 

At their AGM today, it was announced that they are launching a new Regular Saver tomorrow. 

When the AGM closed, they were asked about the details of said new regular saver, and the chief Exec said that it would be 6% for existing members and 5% for new.  When asked how much can be deposited, he intimated it would be £250 per month and be a 12-month account.  He gave very vague answers and he did not seem to know a lot about this new account.   

We will have to wait and see 

Wonder if opening an account tonight would make me an ‘existing member’ haha

Bridlington1

jaypers said:

Andystriker said:

Dudley Building Society

 

At their AGM today, it was announced that they are launching a new Regular Saver tomorrow. 

When the AGM closed, they were asked about the details of said new regular saver, and the chief Exec said that it would be 6% for existing members and 5% for new.  When asked how much can be deposited, he intimated it would be £250 per month and be a 12-month account.  He gave very vague answers and he did not seem to know a lot about this new account.   

We will have to wait and see 

Wonder if opening an account tonight would make me an ‘existing member’ haha

I doubt they'd open the account tonight, what's more important to my mind is is there an eligibility cut off date (as is the case with many) or would simply opening another account automatically make you eligible for the 6% RS so long as it's opened before the RS is withdrawn.

Section62

Bridlington1 said:

jaypers said:

Andystriker said:

Dudley Building Society

 

At their AGM today, it was announced that they are launching a new Regular Saver tomorrow. 

When the AGM closed, they were asked about the details of said new regular saver, and the chief Exec said that it would be 6% for existing members and 5% for new.  When asked how much can be deposited, he intimated it would be £250 per month and be a 12-month account.  He gave very vague answers and he did not seem to know a lot about this new account.   

We will have to wait and see 

Wonder if opening an account tonight would make me an ‘existing member’ haha

I doubt they'd open the account tonight, what's more important to my mind is is there an eligibility cut off date (as is the case with many) or would simply opening another account automatically make you eligible for the 6% RS so long as it's opened before the RS is withdrawn.

In case they make it "for members who joined before 18/07/2025" only, it might be worth opening an easy access account today.

ThePirates

Section62 said:

Bridlington1 said:

jaypers said:

Andystriker said:

Dudley Building Society

 

At their AGM today, it was announced that they are launching a new Regular Saver tomorrow. 

When the AGM closed, they were asked about the details of said new regular saver, and the chief Exec said that it would be 6% for existing members and 5% for new.  When asked how much can be deposited, he intimated it would be £250 per month and be a 12-month account.  He gave very vague answers and he did not seem to know a lot about this new account.   

We will have to wait and see 

Wonder if opening an account tonight would make me an ‘existing member’ haha

I doubt they'd open the account tonight, what's more important to my mind is is there an eligibility cut off date (as is the case with many) or would simply opening another account automatically make you eligible for the 6% RS so long as it's opened before the RS is withdrawn.

In case they make it "for members who joined before 18/07/2025" only, it might be worth opening an easy access account today.

£250 minimum opening balance...

Kim_13

Andystriker said:

Dudley Building Society

 

At their AGM today, it was announced that they are launching a new Regular Saver tomorrow. 

When the AGM closed, they were asked about the details of said new regular saver, and the chief Exec said that it would be 6% for existing members and 5% for new.  When asked how much can be deposited, he intimated it would be £250 per month and be a 12-month account.  He gave very vague answers and he did not seem to know a lot about this new account.   

We will have to wait and see 

New members might prefer to open this, as the deposit limit is higher https://www.dudleybuildingsociety.co.uk/savings/personal-savings/regular-savings/one-year-regular-saver-issue-9/