The Top Regular Savers Discussion Thread

clairec666

Hattie627 said:

Yorkshire BS £50 Regular Saver

Opened on the first day of issue last year (10/09/24). Interest of £27.06 now credited (0200 hours, 9th September 2025). Account closed at £627.06 and funds moved out (due in current account on 10th).

Although the rate of 8% was impressive, the return is less than exciting after a year's saving. Still, every penny counts.

Just think of it this way - each £50 deposit was earning a better rate than it could elsewhere.

Everyone's got their own criteria for whether a regular saver account is "worth it" compared to the admin involved. If I wasn't already a YBS customer I'd probably forego another 8% offering (if they offer it!) and sacrifice 1/8 of the interest to put it into Monmouthshire instead (which I'm unlikely to be able to fully fund each month). As I'm not a new YBS customer, admin will be minimal so I'll probably snap up anything they offer if it's over 7%.

flaneurs_lobster

Section62 said:

Bob2000 said:

friolento said:

Bob2000 said:

flaneurs_lobster said:

Bob2000 said:

MonBS APP EXCLUSIVE  RS 7%

Would MonBS close the account  because of non-app use?

If it were any other building society then I would say "No way" but..... 

Well l thought  I'd contact the people who would know but in the end decided  to get in touch with Monmouthshire instead!

What did they say?

Just had a read of the message sent from Monbs. Said you don't need the app once opened as you can use/see your transactions online. BUT the guy did say if you delete the app they MAY close the account.

Interesting... as there was nothing I saw in the T&C's saying you had to keep the app active as a condition of holding the account, nor anything saying they could close the account if you deleted the app.

And given how flaky the app seems to be, requiring non-deletion wouldn't seem to be a reasonable condition.

Short of you ringing up MonBS and stating "I have deleted the app" I don't believe that there is any way that they can ascertain if you have deleted the app or not. Could make this product app access only I guess or impose a "you must log on via the app every x months" rule but they haven't. 

Stargunner

poshrule_uk said:

My HSBC regular saver finishes today. Will it be quicker to get my funds if I message them today to close my account?

My HSBC RS matured today Checking in the app this morning it has become a PREF REG SAVER paying 1.3% interest. The £115 interest had been added and I transferred all the funds to my HSBC Advance account and then withdrew them.
I will use the online chat later today to close the account. 

friolento

Stargunner said:

poshrule_uk said:

My HSBC regular saver finishes today. Will it be quicker to get my funds if I message them today to close my account?

My HSBC RS matured today Checking in the app this morning it has become a PREF REG SAVER paying 1.3% interest. The £115 interest had been added and I transferred all the funds to my HSBC Advance account and then withdrew them.
I will use the online chat later today to close the account. 

Mine has also turned into a PREF REG SAVER but I am unable to transfer anything out of this account

WillPS

Hattie627 said:

Yorkshire BS £50 Regular Saver

Opened on the first day of issue last year (10/09/24). Interest of £27.06 now credited (0200 hours, 9th September 2025). Account closed at £627.06 and funds moved out (due in current account on 10th).

Although the rate of 8% was impressive, the return is less than exciting after a year's saving. Still, every penny counts.

There is nowhere else you could have earned more on those £50s. You're in the wrong game if you want to see single chunky maturity payouts, even on the more generous accounts - it's all about the amount of interest you earn in total and the effective interest rate that represents.

Anything that moves the needle on that blended interest rate upwards, however slight, is a job well done.

OrangeBlueGreen

WillPS said:

The only piece I don't understand is why they couldn't submit the message to the correct department themselves, but there probably is a good reason for that.

Ultimately it will be subjective as to what a customer finds acceptable or not. Your sentence is the point I was trying to highlight. They should do it themselves and asking the customer to do it is putting the onus back on the customer. Glitches happen but this appears to be a longstanding issue and is therefore a choice to not fix the issue. It's also a choice to ask the customer to submit a message instead of them having an exceptional internal process as to not inconvenience customers.

Hattie627

WillPS said:

Hattie627 said:

Yorkshire BS £50 Regular Saver

Opened on the first day of issue last year (10/09/24). Interest of £27.06 now credited (0200 hours, 9th September 2025). Account closed at £627.06 and funds moved out (due in current account on 10th).

Although the rate of 8% was impressive, the return is less than exciting after a year's saving. Still, every penny counts.

There is nowhere else you could have earned more on those £50s. You're in the wrong game if you want to see single chunky maturity payouts, even on the more generous accounts - it's all about the amount of interest you earn in total and the effective interest rate that represents.

Anything that moves the needle on that blended interest rate upwards, however slight, is a job well done.

I've been doing RS's since 2016 and currently have 51. So I kind of understand how it works. Not sure though I want to go as low as £50 a month, even for 8%. YVMV

allegro120

friolento said:

Stargunner said:

poshrule_uk said:

My HSBC regular saver finishes today. Will it be quicker to get my funds if I message them today to close my account?

My HSBC RS matured today Checking in the app this morning it has become a PREF REG SAVER paying 1.3% interest. The £115 interest had been added and I transferred all the funds to my HSBC Advance account and then withdrew them.
I will use the online chat later today to close the account. 

Mine has also turned into a PREF REG SAVER but I am unable to transfer anything out of this account

HSBC
I couldn't withdraw in the app, went online and withdrawal worked fine.

BestSeagull

friolento said:

Stargunner said:

poshrule_uk said:

My HSBC regular saver finishes today. Will it be quicker to get my funds if I message them today to close my account?

My HSBC RS matured today Checking in the app this morning it has become a PREF REG SAVER paying 1.3% interest. The £115 interest had been added and I transferred all the funds to my HSBC Advance account and then withdrew them.
I will use the online chat later today to close the account. 

Mine has also turned into a PREF REG SAVER but I am unable to transfer anything out of this account

Transfer to your current account and then out from there? I actually found I had to set up a new payee from the current account, I'm sure I must have transferred out in the past so perhaps it's a security measure.

OrangeBlueGreen

Hattie627 said:

I've been doing RS's since 2016 and currently have 51. So I kind of understand how it works. Not sure though I want to go as low as £50 a month, even for 8%. YVMV

And there was me thinking I had too many at ....6!  :-)