The Top Regular Savers Discussion Thread

MarkFromCornwall

UndergroundSaxClub said:

Do Chase ever offer switch incentives or should I just apply anytime?

Sometimes, yes.  They sent me this offer recently, valid until 10th August.  I'm not sure if it's open to anyone or just people they are targeting...

"Switching to Chase is easy with the Current Account Switch Service. What's even better is that, for a limited time, it's more rewarding because we'll give you a £50 Amazon.co.uk Gift Card1 for making the switch."

allegro120

J63320 said:

Kim_13 said:

Anyone get an email from Coventry reminding them to pay in by the end of July to qualify for the last Sunny Day Saver draw in August? I don’t know why they send it to me as I paid in on the 1st and now wonder whether paying in too early in the month has meant being erroneously left out. At least when you didn’t win with Nationwide you got an email confirming that you had been entered.

I think some banks and building societies aren’t very clever with their emails. I opened a Club Lloyds Monthly Saver last week and transferred the maximum monthly payment of £400 into it on the same day. The following day I got an email from Lloyds saying that in order to make the most of my new account I should pay some money into it as soon as possible!

Yes, I always get these from Lloyds group and some other providers after I have already funded the account.  The same for this Coventry e-mail - it's just a generic e-mail to to all holders of the Sunny Day account.

PRAISETHESUN

MarkFromCornwall said:

UndergroundSaxClub said:

Do Chase ever offer switch incentives or should I just apply anytime?

Sometimes, yes.  They sent me this offer recently, valid until 10th August.  I'm not sure if it's open to anyone or just people they are targeting...

"Switching to Chase is easy with the Current Account Switch Service. What's even better is that, for a limited time, it's more rewarding because we'll give you a £50 Amazon.co.uk Gift Card1 for making the switch."

Seems to be an offer for select existing customers, who should have had an email/app notification in the past few days:

https://becleverwithyourcash.com/chase-bank-switch-offer/

allegro120

clairec666 said:

francoghezzi said:

Kim_13 said:

Anyone get an email from Coventry reminding them to pay in by the end of July to qualify for the last Sunny Day Saver draw in August? I don’t know why they send it to me as I paid in on the 1st and now wonder whether paying in too early in the month has meant being erroneously left out. At least when you didn’t win with Nationwide you got an email confirming that you had been entered.

I do think that the e mail is just a generic reminder, nothing to do with your personal balance on that account and has been obviously sent to everybody. I deposited money well after the first week in July and received it today as well

I haven't had a reminder. Then again, I can't find any email correspondence from Coventry, even when I opened accounts, so maybe I didn't supply them with an email address.

You probably did, they won't let you open an online account without e-mail.  Could it be that you need to select e-mail in preferences how you want Coventry to contact you? 

Speculator

Kim_13 said:

Anyone get an email from Coventry reminding them to pay in by the end of July to qualify for the last Sunny Day Saver draw in August? I don’t know why they send it to me as I paid in on the 1st and now wonder whether paying in too early in the month has meant being erroneously left out. At least when you didn’t win with Nationwide you got an email confirming that you had been entered.

Yes I got the email and already paid in on the 1st. My wife didn't get the email and she also paid in on the 1st.

jameseonline

IanManc said:

MarkFromCornwall said:

IanManc said:

You keep saying that but it isn't true - Chetwood Bank doesn't have an app and Wrexham is in Wales. 

Although, to be fair, this is a discussion of regular savers and I don't think Chetwood offer one.

jameseonline said:

MarkFromCornwall said:

IanManc said:

You keep saying that but it isn't true - Chetwood Bank doesn't have an app and Wrexham is in Wales. 

Although, to be fair, this is a discussion of regular savers and I don't think Chetwood offer one.

And also to be fair I was thinking of main banks, building societies etc & I didn't know Chetwood existed

@MarkfromCornwall It was also posted in the "savings app thread" too. It was wrong when it was posted there as well, as I said.

@jamesonline You're only "thinking of main banks" yet Swansea who you mention have total assets under management of about £620 million while Chetwood have a total AUM figure of around £4billion.

Chetwood is the second biggest bank or building society based in Wales. 

I can only go by my own knowledge & contributions from others, I added Chetwood to my savings apps thread now, my original list was based on building societies then other banks etc were added to it based on contributions from forum members 

clairec666

allegro120 said:

clairec666 said:

francoghezzi said:

Kim_13 said:

Anyone get an email from Coventry reminding them to pay in by the end of July to qualify for the last Sunny Day Saver draw in August? I don’t know why they send it to me as I paid in on the 1st and now wonder whether paying in too early in the month has meant being erroneously left out. At least when you didn’t win with Nationwide you got an email confirming that you had been entered.

I do think that the e mail is just a generic reminder, nothing to do with your personal balance on that account and has been obviously sent to everybody. I deposited money well after the first week in July and received it today as well

I haven't had a reminder. Then again, I can't find any email correspondence from Coventry, even when I opened accounts, so maybe I didn't supply them with an email address.

You probably did, they won't let you open an online account without e-mail.  Could it be that you need to select e-mail in preferences how you want Coventry to contact you? 

Ah, I've now found past emails from them which weren't showing up on my phone. But never any reminders for the sunny day saver draw.

allegro120

Slinky said:

UndergroundSaxClub said:

PRAISETHESUN said:

UndergroundSaxClub said:

Hopefully an easy one.

Recently completed a switch to RBS for the £125 incentive, now opening a DRS for the extra £50. Is using this account as advertised "pointless" if I have a lump sum, or can save around 800pcm rather than 150? I'm not great with numbers, but I think I would get a better return just sticking a big lump into an easy-access savings account rather than top this up for X amount of years.

The higher interest rate will always be the better place to save your money, even with the deposit restrictions for RS accounts. Best way to maximise your return is to whack your lump sum into a high interest easy access savings account and drip feed it each month into the even higher interest DRS account (or any of the other RS accounts discussed in this thread).

Thanks, guess it never hurts to have a backup. Currently have a Santander Edge saver at 5.84% for a year (I think) with 4k, and everything else in their Easy Access Saver, due to drop to 3% in August

Can you look at Chase? I've got a boosted easy access pot earning 4.55%

That's what I have until the end of October, but Chase is still offering 5% for 6 months to new customers.  This is the best unlimited EA for those who are qualified.

TheBanker

ForumUser7 said:

UndergroundSaxClub said:

Bridlington1 said:

UndergroundSaxClub said:

PRAISETHESUN said:

UndergroundSaxClub said:

Hopefully an easy one.

Recently completed a switch to RBS for the £125 incentive, now opening a DRS for the extra £50. Is using this account as advertised "pointless" if I have a lump sum, or can save around 800pcm rather than 150? I'm not great with numbers, but I think I would get a better return just sticking a big lump into an easy-access savings account rather than top this up for X amount of years.

The higher interest rate will always be the better place to save your money, even with the deposit restrictions for RS accounts. Best way to maximise your return is to whack your lump sum into a high interest easy access savings account and drip feed it each month into the even higher interest DRS account (or any of the other RS accounts discussed in this thread).

Thanks, guess it never hurts to have a backup. Currently have a Santander Edge saver at 5.84% for a year (I think) with 4k, and everything else in their Easy Access Saver, due to drop to 3% in August

I typically pay into whichever accounts give me the highest rate of interest for my money, if I pay the maximum into the top regular saver and still have money leftover I fill up the second best regular saver, then the third best one etc. You'll likely find many on this forum have a few dozen or more regular savers on the go at any one time (my peak was over 60 regular savers).

Thanks again. I think I'll follow your method. New to regular savers, but not regular saving. Seems a bit odd to wait almost 3 years to hit the currently advertised interest rate, or am I misunderstanding? 150x33months for 5.5% seems rough.

You can fill it up quickly using 'round ups'.

To do this, you turn on 5x round ups from your debit card in the NatWest app, and then you can make loads of £1.01 payments into accounts that accept debit card deposits, or just as you spend normally let it fill up.

Agree it is tedious though, and takes a while to fill

Natwest Regular Saver
If you have the Natwest Rewards current account you can also pay your cashback into the Regular Saver which doesn't seem to count towards your limit. Interest is paid monthly on the Regular Saver which also does not count towards your limit, so it is certainly possible to get to £5k quicker.

I like this account - although it's not as competitive as it was, and there are other accounts paying more, iit's very convenient for me as my main current account is with Natwest. Although Natwest have reduced the interest rate, it doesn't feel like they've been as aggressive in cutting it as some other providers, and you don't have to go through the annual close and re-open cycle. My Digital Regular Saver is my longest-standing savings account. 

flaneurs_lobster

flaneurs_lobster said:

Dudley Loyalty Regular Saver

flaneurs_lobster said:

RosieRooBear said:

Dudley Loyalty Regular Saver
Have just spoken to Customer Services at Dudley BS as I opened my account last night but funds didn’t get credited until this morning. She has confirmed that as long as the account was opened on or before 17th July whether funded or not then you are eligible for the Loyalty RS.

checkly said:

Just rang CS and was told that it had to be funded by 17th July so no point them sending me an application form!  Oh well!

Mine's opened 17th, showing funded next day. One of those CS agents is correct, I've filled the form out so might as well spend the postage to find out which.

My Dudley Loyalty Regular Saver now showing in my online account. That was impressively quick, only posted the application yesterday.

Has anyone else who applied for Dudley BS accounts in the last week received any correspondence from them? I now have 2 accounts (albeit the RS doesn't seem to be accepting deposits yet) and have yet to receive any communication from them, not even an acknowledgement of account opening. 

Not exactly typical.