The Top Regular Savers Discussion Thread

wiseonesomeofthetime

Gatehouse

Perfectly safe. Sharia conpliant bank.
I have been using them for years and currently have a five figure sum in their coffers at 5% epr

Bigwheels1111

anonymous12124 said:

Thinking about opening the 6 Month Fixed Term Woodland Saver with Gatehouse Bank. I want to save £10k, approximately 60% of what I have right now. Do you guys think this is a safe bank? I had never heard of them before this week.

They are very good, I have a large sum saved with them on a 5 year fixed rate savings bond, had a regular saver and still have an easy access account.

The fixed rate pays interest away every year and so far both payments were on time.

So very happy with them.

Been with them from 01/09/2022.

allegro120

anonymous12124 said:

Thinking about opening the 6 Month Fixed Term Woodland Saver with Gatehouse Bank. I want to save £10k, approximately 60% of what I have right now. Do you guys think this is a safe bank? I had never heard of them before this week.

Yes, it is safe. Your money is protected up to £85,000 by FSCS.

Malchester

anonymous12124 said:

Thinking about opening the 6 Month Fixed Term Woodland Saver with Gatehouse Bank. I want to save £10k, approximately 60% of what I have right now. Do you guys think this is a safe bank? I had never heard of them before this week.

I have regularly used Gatehouse Bank for various accounts and recently opened the 6 month fixed term account with no problems. I also have their 5 year fixed rate ISA opened at 4.6% and their easy access account. Would recommend. Remember they are a bank that operates under Shariah principles so it is expected profit rather than interest but there has never been any issues about paying the profit figure, to my knowledge 

csw5780

anonymous12124 said:

Thinking about opening the 6 Month Fixed Term Woodland Saver with Gatehouse Bank. I want to save £10k, approximately 60% of what I have right now. Do you guys think this is a safe bank? I had never heard of them before this week.

Is this a regular saver? 🤔

CuparLad

Bridlington1 said:

For those of you with a Furness BS Christmas Regular Saver due to mature on Friday 10/1/25.

In my experience of withdrawals from Furness BS by faster payment funds are debited from the account the day the request is made but arrive the next working day, thus if the account is due to mature on Friday and you choose to have the account closed upon maturity I would suspect the funds would be debited from your account on Friday but not arrive in your nominated account till Monday, not earning interest in that time, which is noteworthy given the final balance could be potentially over £6k .

One option worth considering could be to empty the account today (can be done in online banking) in order to reduce the amount of time you've got a large sum ``in transit" earning no interest.

My maturity experience with Furness was far from smooth. I had requested that the matured funds be transferred to my nominated account. The instruction was sent in the post (since they sent me a form via eMail) and subsequently also via the App (which was never mentioned in the maturity eMail). Both were sent way before the deadline, but both were ignored and the regular saver matured into an EA saving account, which I then had to close and wait until the following day to get the funds. Effectively I had to wait two days longer than if they'd carried out my original instruction.

easysaver

Leeds BS Regular Saver
My Issue 37 is maturing on 3rd Feb. I've tried to add a linked account via the online account but it was rejected because it's not an online type account. What's the easiest way to withdraw to an external account on maturity, preferably avoiding having to call them? Will it mature into an E-Saver allowing withdrawals to a nominated account or some other branch/post only account? I'm trying to work out if I should open an E-Saver now with £100 to avoid delays.

liger

I have a gatehouse regular saver maturing on 24th January 2025, will it be changed to their easy access saver 4.75%?  Do they email or post before maturity to explain the process?

chris_the_bee

easysaver said:

Leeds BS Regular Saver
My Issue 37 is maturing on 3rd Feb. I've tried to add a linked account via the online account but it was rejected because it's not an online type account. What's the easiest way to withdraw to an external account on maturity, preferably avoiding having to call them? Will it mature into an E-Saver allowing withdrawals to a nominated account or some other branch/post only account? I'm trying to work out if I should open an E-Saver now with £100 to avoid delays.

Leeds BS Regular Saver
Opening an E-Saver now with £100 does avoid delays, but it is 2.30% on £100 minimum.

janusdesign

liger said:

I have a gatehouse regular saver maturing on 24th January 2025, will it be changed to their easy access saver 4.75%?  Do they email or post before maturity to explain the process?

I got an email 14 days before maturity...

We are pleased to advise you that your Regular Saver account will mature on 29th November 2024.

A summary of your Regular Saver is shown below:

• End of term date: 29th November 2024
• Current profit rate: 7.00%
• Current balance: 3900.00

What happens next?
We will automatically move your money into an Easy Access account and inform you of this once we have done so. You will be able to find the details of this product on our website

and again 5 days before (it says Fixed Term deposit, but it was for the RS)...

Your Gatehouse Bank Fixed Term Deposit account is due to mature in 5 days.

To view details of your maturity options, log into your account at www.gatehousebank.com. You will have the option of continuing to save through another Fixed Term Deposit account or withdraw your funds.

If we do not receive your maturity instruction before the maturity date, your deposit will be transferred to a Gatehouse Bank Easy Access account. To read more about the Gatehouse Bank Easy Access account and to view the terms and conditions for the account, please visit www.gatehousebank.com/personal/savings/easy-access-account.

that last link has never worked as far as I know.

I just let the account mature and it converted to the EA Account automatically.