The Top Regular Savers Discussion Thread

chris_the_bee

friolento 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 

@Andystriker thank you for the heads up. I don't suppose he said whether it can be opened online, or just in Branch or by post?

Dudley
Their existing RS is branch or postal application. Odd, as the Easy Access can be opened online.

ForumUser7

Kim_13 said:

I went for an ISA and got it open, but my withdrawal from an EA to current account was dated tomorrow so I can't fund until tomorrow.

I don’t know if it’s worth applying for an ISA to see what happens, probably not as I probably failed ID or something and then I would just mess things up more haha

mebu60

GlasgowExpat2 said:

I’ve spoken with Virgin Money and they’ve advised that it takes 7-10 days to close an account. On 1 July I can withdraw the funds from the Everyday Saver account and request closure but I will need to wait another 7-10 days to receive the interest. 

1 August. 

Thx for that info on potential timing. Did you ask why the closure process wording refers explicitly to current account closure but apparently works for other accounts too? 

flaneurs_lobster

mebu60 said:

GlasgowExpat2 said:

I’ve spoken with Virgin Money and they’ve advised that it takes 7-10 days to close an account. On 1 July I can withdraw the funds from the Everyday Saver account and request closure but I will need to wait another 7-10 days to receive the interest. 

1 August. 

Thx for that info on potential timing. Did you ask why the closure process wording refers explicitly to current account closure but apparently works for other accounts too? 

Given the amount of time quoted to close an account I think we can assume that the process is manual, which by its nature allows for the pragmatic interpretation of instructions.

Kim_13

ForumUser7 said:

Kim_13 said:

I went for an ISA and got it open, but my withdrawal from an EA to current account was dated tomorrow so I can't fund until tomorrow.

I don’t know if it’s worth applying for an ISA to see what happens, probably not as I probably failed ID or something and then I would just mess things up more haha

I suspect the poster who mentioned a cut off somewhere based on tenure at address was correct - the earliest option is before 2017 and I have been on the electoral roll at the same address since then.

Digital_Payback

Kim_13 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 

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/

(See Below)
Should I apply immediately for the Dudley Regular Saver Issue 9 or have they got their estimated balance very, very wrong.  🤣

Kim_13

Digital_Payback said:

Kim_13 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 

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/

(See Below)
Should I apply immediately for the Dudley Regular Saver Issue 9 or have they got their estimated balance very, very wrong.  🤣

The estimated balance is obviously impossible but unless the new 5% is fixed rate, this account is superior. And a foot in the door for only £50 if they don’t limit customers to only 1 RS or say that accounts had to be open on 18/7.

Bob2000

clairec666 said:

Bob2000 said:

So my First  Direct regular saver  and Virgin 10% one matures on the 29th and 31st. 

Was thinking of putting the funds into my Skipton members' saver(already been open for 6 weeks with 1k), and Cahoot sunny day saver  just applied  this morning(empty atm).

If l just left the fund in the accounts for the term instead of opening  First Direct  again and another regular savers maybe TSB?? and drip feeding across how much would l be down by?
Thanks

TSB's monthly saver is only 5% so probably not worth it.

Quick rough calculation - £3000 in the Skipton members' saver at 5% for a full year will gain you £150 in interest. Drip-feeding £250 a month into a regular saver at 7% will gain you an extra £32.

Ok, thank you for the quick calculation.
I think I'll  just deposit  the cash in the EA accounts then. I find having a few regular savers  on the go stressful.

A extra £32 l could save by cutting out a few takeaways. 

Bob2000

apt said:

Bob2000 said:

So my First  Direct regular saver  and Virgin 10% one matures on the 29th and 31st. 

Was thinking of putting the funds into my Skipton members' saver(already been open for 6 weeks with 1k), and Cahoot sunny day saver  just applied  this morning(empty atm).

If l just left the fund in the accounts for the term instead of opening  First Direct  again and another regular savers maybe TSB?? and drip feeding across how much would l be down by?
Thanks

The only good reason not to open the First Direct regular saver again is if you think you might need the money before the year term is up.

Yes it's a good RS but like you stated  not easy to access  the cash without a drop in interest. 

ForumUser7

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 

Anyone know when today this is launching? Don't know if anyone has called etc.

Also, anyone know what Dudley's loyalty cut off has previously been for any previous such accounts?

Thanks!