The Top Regular Savers Discussion Thread

Section62

Middle_of_the_Road said:

clairec666 said:

jaypers said:

Am I missing something or have Virgin launched a new Regular Saver paying 6.5%

https://uk.virginmoney.com/savings/products/regular_saver_exclusive_issue_3/

Is this distinct from the one that was launched in May? Can we have one of each?

It is, but we can't have both 😞

And with VM's closure team apparently snowed under with requests to close issue 1 accounts it might be unwise to try closing an issue 2 account to become eligible for an issue 3 one.  (Or at least not until the chaos has settled down)

jameseonline

MoneyMan01 said:

Why would someone choose that Virgin Money 6.5% RS over say the Co-Op 7% RS? Or is it a case people are opening both?

As pointed out in the other thread people have multiple regular savers because they have a lot of funds.

Middle_of_the_Road

MoneyMan01 said:

Why would someone choose that Virgin Money 6.5% RS over say the Co-Op 7% RS? Or is it a case people are opening both?

Yes, some people have two regular savers 😃

clairec666

Middle_of_the_Road said:

clairec666 said:

jaypers said:

Am I missing something or have Virgin launched a new Regular Saver paying 6.5%

https://uk.virginmoney.com/savings/products/regular_saver_exclusive_issue_3/

Is this distinct from the one that was launched in May? Can we have one of each?

It is, but we can't have both 😞

Never mind... I don't think I would have enough money to fund it anyway!

janusd

jameseonline said:

Middle_of_the_Road said:

clairec666 said:

jaypers said:

Am I missing something or have Virgin launched a new Regular Saver paying 6.5%

https://uk.virginmoney.com/savings/products/regular_saver_exclusive_issue_3/

Is this distinct from the one that was launched in May? Can we have one of each?

It is, but we can't have both 😞

Seems you can because apparently the 10% has matured it's just the name hasn't updated yet but will at close of business, also people seem to have opened the new 1 & funded it 

note the poster said they already had Issue 2, so they wouldn't be entitled to open Issue 3 - just the same as when I was unable to open Issue 2 in May because I had Issue 1.

for those who have Issue 1 and it's still showing in the accounts, when opening Issue 3, tell them that you don't have an Exclusive RS and it will allow you to open the account - it will show up in the list of accounts as "Regular Saver 3", whereas the Issue 1 still appears (at least today) as "Regular Saver"... there is no need to empty or close the RS 1 account before opening RS3.

clairec666

Middle_of_the_Road said:

MoneyMan01 said:

Why would someone choose that Virgin Money 6.5% RS over say the Co-Op 7% RS? Or is it a case people are opening both?

Yes, some people have two regular savers 😃

Some even have 3 

mon3ysav3r

I only really started opening Regular Savers in anger this year, I appear to have over 40 already! I feed them from easy access accounts with lower rates, so slowly but surely my average interest rate goes up every month - until the next BOE rate cut of course. 

Hattie627

mon3ysav3r said:

I only really started opening Regular Savers in anger this year, I appear to have over 40 already! I feed them from easy access accounts with lower rates, so slowly but surely my average interest rate goes up every month - until the next BOE rate cut of course. 

If you have as many as possible of the high fixed rate ones (eg Club Lloyds, First Direct, VM) you can protect your average rate going down too much with base rate falls, for a while anyway.

Bob2000

charlie12525 said:

jaypers said:

Middle_of_the_Road said:

jaypers said:

Am I missing something or have Virgin launched a new Regular Saver paying 6.5%

https://uk.virginmoney.com/savings/products/regular_saver_exclusive_issue_3/

Looks like it. Matures Aug 26.

Need them to hurry up and close my old one down now so I can apply haha. 

No need to close the existing RS. I opened the new RS3 online. Transferred 250 from RS1 to RS3. Took 5 minutes.

Ditto.
I may ditch that pain in the a** monmouthshire RS now.

jameseonline

I've triggered the Virgin Money anti fraud team, I'm on hold to them at the mo, I was almost done funding my other regular savings accounts too, meh, only had a Principality or 2 left to fund.

Hardly unusual behaviour to be honest I always move money at the start of the month to do this.

The only thing different is I've transferred out of the matured regular saver into my current account.