The Top Regular Savers Discussion Thread

happybagger

@Bridlington1

Melton BS RS 5

Regardless of their current "Not opening any accounts temporarily" statement, it would appear that the Melton RS 5 account (2 years, 5% var) is now a closed issue

It's in their "closed issue accounts" list, and clicking the account link states it is "discontinued"

Aidanmc

allegro120 said:

Aidanmc said:

Re Manchester BS,
I just applied for the RS as a new customer.
Received user id, but when i try to log in i get 'Site Error' message

I applied about an hour ago.  Received 2 e-mails almost immediately, "thank you" and "a message has been sent to you", but no ID number for login.  How long did it take to receive the ID?

I received 'thank you' email first, 5 mins later User ID, 5 mins later again 'secure message' email

Aidanmc

PowerSavingMode said:

ForumUser7 said:

PowerSavingMode said:

MarkFromCornwall said:

shirley999 said:

The Newcastle Building Society then!  (T/a Manchester Building Society)

Yes.  When I clicked on their link about how to fund the new (Manchester) account it sent me to a page on the Newcastly Building Society website.

Re: Manchester Building Society — regular saver 5.50% for 24 months

Do you have the direct link, BAC? The other link under the original post (https://manchester.co.uk/savings/product/manchester-regular-saver-issue-1) shows nothing but a word (Savings) and then a big black arrow! 

Works fine for me, but try https://manchester.co.uk/savings/all-savings-accounts then click regular saver

Thanks, but same blank screen, apart from the word 'savings' and huge black arrow.

Thats strange, works fine for me too

grumpy_codger

Bigwheels1111 said:

Bobblehat said:

Bigwheels1111 said:

Hattie627 said:

Nationwide BS Flex Regular Saver

My Issue 3 Flex RS has its maturity date today. Interest has been added (£93.46). I have moved the balance plus interest out.  The account is still showing as a Flexible RS which is preventing me opening a new one (now Issue 7). I can't remember what happened last year. Has anyone any recent experience of a Flex RS maturity and can recall when the account changes to an Instant Saver? 

Did you make an extra £200 payment this month, ie total £2600.

I did and only got £93.42.

If it's of interest(!), opened the RS 22/09/2024, funded it 22/09 & 01/10 and then by SO on 01/11 until 01/09/2025, so closing balance was £2693.67.

Yes interest, I'm thinking of waiting until the 29th to open a new one so I can fund on the first as well to max

Interest this year. Then open on the 30th next year to do the same. As you need to wait a day to open.

Waiting makes no sense if you have money now. You are loosing interest - it's better for this money to earn 6.5% than to wait.

Digital_Payback

Aidanmc said:

allegro120 said:

Aidanmc said:

Re Manchester BS,
I just applied for the RS as a new customer.
Received user id, but when i try to log in i get 'Site Error' message

I applied about an hour ago.  Received 2 e-mails almost immediately, "thank you" and "a message has been sent to you", but no ID number for login.  How long did it take to receive the ID?

I received 'thank you' email first, 5 mins later User ID, 5 mins later again 'secure message' email

Likewise. 

All very prompt. Signed up and, after emails, log-in was simple. 

Kim_13

happybagger said:

@Bridlington1

Melton BS RS 5

Regardless of their current "Not opening any accounts temporarily" statement, it would appear that the Melton RS 5 account (2 years, 5% var) is now a closed issue

It's in their "closed issue accounts" list, and clicking the account link states it is "discontinued"

Melton have temporarily pulled all savings accounts while they upgrade their systems, as discussed on the thread last night/this morning. We'll only know what has been withdrawn when we see what is there when it comes back.

RS5 was an open ended account in contrast to their other accounts which had fixed end dates, so no obvious reason for that to be pulled unless they no longer wish to offer an open ended RS. 

masonic

rallycurve said:

Bobblehat said:

Stargunner said:

Bobblehat said:

friolento said:

Bigwheels1111 said:

Bobblehat said:

Bigwheels1111 said:

Hattie627 said:

Nationwide BS Flex Regular Saver

My Issue 3 Flex RS has its maturity date today. Interest has been added (£93.46). I have moved the balance plus interest out.  The account is still showing as a Flexible RS which is preventing me opening a new one (now Issue 7). I can't remember what happened last year. Has anyone any recent experience of a Flex RS maturity and can recall when the account changes to an Instant Saver? 

Did you make an extra £200 payment this month, ie total £2600.

I did and only got £93.42.

If it's of interest(!), opened the RS 22/09/2024, funded it 22/09 & 01/10 and then by SO on 01/11 until 01/09/2025, so closing balance was £2693.67.

Yes interest, I'm thinking of waiting until the 29th to open a new one so I can fund on the first as well to max

Interest this year. Then open on the 30th next year to do the same. As you need to wait a day to open.

It might not be available any longer on the 29th.

OTOH, there might be a better offer during Savings Week, only available if you haven’t yet got the 6.5% one.

Choices, choises🤔

I'll risk it! The NW agent I spoke to insisted on looking up the rate of the current offering when I mentioned about opening a new one later in the month (I already knew the rate). His wording was slightly worrying ... "It's still 6.5%, at the moment!". I should have asked if there was an expected drop imminent, but knew I would get a non-committal answer. 

It's a variable account anyway, so if it did drop between now and the 29th, I'd have probably only lost pennies. I have the choice to go elsewhere if the drop is drastic or NLA ... unlikely.

Why don't you open the new RS now, so that you can be earning interest on your first deposit of £200.

You previously said that you were leaving £400 in the current account to cover the first 2 payments. How much interest are you earning on the £400?

A good point .... but .....

I could shift it out to Chase Saver and back 7 days later @ 4.65% gaining £0.28p over leaving it where it is (1%)....

or, I could open the NW RS tomorrow and lose £2.56 over opening it on 29/09, (£94.10 maturing 22/09/2026 vs £96.66 maturing 28/09/2026).

So leaving the £400 where it is and not having to shift it around, and opening on 29th I'll have gained £2.56 over opening on 23rd but lost £0.28p for being a tad lazy! Do I loose an MSE point for being a tad lazy?

I’d be curious to know the maths behind this. How can you earn £2.56 in 7 days on £200 in an account paying 6.5%? 

It's not just the second deposit that can be made 6 days earlier in the account year, it's the 3rd, 4th, ..., 13th. Meaning overall there's an extra 6 days gained on £2,400 worth about £2.56 minus whatever interest could be earned on the money elsewhere.

surreysaver

grumpy_codger said:

Bigwheels1111 said:

Bobblehat said:

Bigwheels1111 said:

Hattie627 said:

Nationwide BS Flex Regular Saver

My Issue 3 Flex RS has its maturity date today. Interest has been added (£93.46). I have moved the balance plus interest out.  The account is still showing as a Flexible RS which is preventing me opening a new one (now Issue 7). I can't remember what happened last year. Has anyone any recent experience of a Flex RS maturity and can recall when the account changes to an Instant Saver? 

Did you make an extra £200 payment this month, ie total £2600.

I did and only got £93.42.

If it's of interest(!), opened the RS 22/09/2024, funded it 22/09 & 01/10 and then by SO on 01/11 until 01/09/2025, so closing balance was £2693.67.

Yes interest, I'm thinking of waiting until the 29th to open a new one so I can fund on the first as well to max

Interest this year. Then open on the 30th next year to do the same. As you need to wait a day to open.

Waiting makes no sense if you have money now. You are loosing interest - it's better for this money to earn 6.5% than to wait.

Waiting majes sense if you believe you won't be able to earn 6.5% in a year's time if you were to open it now 

Bobblehat

rallycurve said:

Bobblehat said:

Stargunner said:

Bobblehat said:

friolento said:

Bigwheels1111 said:

Bobblehat said:

Bigwheels1111 said:

Hattie627 said:

Nationwide BS Flex Regular Saver

My Issue 3 Flex RS has its maturity date today. Interest has been added (£93.46). I have moved the balance plus interest out.  The account is still showing as a Flexible RS which is preventing me opening a new one (now Issue 7). I can't remember what happened last year. Has anyone any recent experience of a Flex RS maturity and can recall when the account changes to an Instant Saver? 

Did you make an extra £200 payment this month, ie total £2600.

I did and only got £93.42.

If it's of interest(!), opened the RS 22/09/2024, funded it 22/09 & 01/10 and then by SO on 01/11 until 01/09/2025, so closing balance was £2693.67.

Yes interest, I'm thinking of waiting until the 29th to open a new one so I can fund on the first as well to max

Interest this year. Then open on the 30th next year to do the same. As you need to wait a day to open.

It might not be available any longer on the 29th.

OTOH, there might be a better offer during Savings Week, only available if you haven’t yet got the 6.5% one.

Choices, choises🤔

I'll risk it! The NW agent I spoke to insisted on looking up the rate of the current offering when I mentioned about opening a new one later in the month (I already knew the rate). His wording was slightly worrying ... "It's still 6.5%, at the moment!". I should have asked if there was an expected drop imminent, but knew I would get a non-committal answer. 

It's a variable account anyway, so if it did drop between now and the 29th, I'd have probably only lost pennies. I have the choice to go elsewhere if the drop is drastic or NLA ... unlikely.

Why don't you open the new RS now, so that you can be earning interest on your first deposit of £200.

You previously said that you were leaving £400 in the current account to cover the first 2 payments. How much interest are you earning on the £400?

A good point .... but .....

I could shift it out to Chase Saver and back 7 days later @ 4.65% gaining £0.28p over leaving it where it is (1%)....

or, I could open the NW RS tomorrow and lose £2.56 over opening it on 29/09, (£94.10 maturing 22/09/2026 vs £96.66 maturing 28/09/2026).

So leaving the £400 where it is and not having to shift it around, and opening on 29th I'll have gained £2.56 over opening on 23rd but lost £0.28p for being a tad lazy! Do I loose an MSE point for being a tad lazy?

I’d be curious to know the maths behind this. How can you earn £2.56 in 7 days on £200 in an account paying 6.5%? 

OK ..... I'm glad I kept the rough working out spreadsheet! It would be 6 days BTW, as although I could have shifted the £400 I kept back today, I can't open the new RS until tomorrow at the earliest. 

Here you go ... usual qualifier, if you spot an error, let me know and I'll look and correct as necessary.



And for those who insist on a more accurate table showing payment dates for SO's on Bank working days ....



I have similar tables to above but showing a rate drop to 6.00% on 01/10/2025!  Did I hear a murmur of "Keep 'em to yourself"? 

Edit here ... hear!

rallycurve

masonic said:

rallycurve said:

Bobblehat said:

Stargunner said:

Bobblehat said:

friolento said:

Bigwheels1111 said:

Bobblehat said:

Bigwheels1111 said:

Hattie627 said:

Nationwide BS Flex Regular Saver

My Issue 3 Flex RS has its maturity date today. Interest has been added (£93.46). I have moved the balance plus interest out.  The account is still showing as a Flexible RS which is preventing me opening a new one (now Issue 7). I can't remember what happened last year. Has anyone any recent experience of a Flex RS maturity and can recall when the account changes to an Instant Saver? 

Did you make an extra £200 payment this month, ie total £2600.

I did and only got £93.42.

If it's of interest(!), opened the RS 22/09/2024, funded it 22/09 & 01/10 and then by SO on 01/11 until 01/09/2025, so closing balance was £2693.67.

Yes interest, I'm thinking of waiting until the 29th to open a new one so I can fund on the first as well to max

Interest this year. Then open on the 30th next year to do the same. As you need to wait a day to open.

It might not be available any longer on the 29th.

OTOH, there might be a better offer during Savings Week, only available if you haven’t yet got the 6.5% one.

Choices, choises🤔

I'll risk it! The NW agent I spoke to insisted on looking up the rate of the current offering when I mentioned about opening a new one later in the month (I already knew the rate). His wording was slightly worrying ... "It's still 6.5%, at the moment!". I should have asked if there was an expected drop imminent, but knew I would get a non-committal answer. 

It's a variable account anyway, so if it did drop between now and the 29th, I'd have probably only lost pennies. I have the choice to go elsewhere if the drop is drastic or NLA ... unlikely.

Why don't you open the new RS now, so that you can be earning interest on your first deposit of £200.

You previously said that you were leaving £400 in the current account to cover the first 2 payments. How much interest are you earning on the £400?

A good point .... but .....

I could shift it out to Chase Saver and back 7 days later @ 4.65% gaining £0.28p over leaving it where it is (1%)....

or, I could open the NW RS tomorrow and lose £2.56 over opening it on 29/09, (£94.10 maturing 22/09/2026 vs £96.66 maturing 28/09/2026).

So leaving the £400 where it is and not having to shift it around, and opening on 29th I'll have gained £2.56 over opening on 23rd but lost £0.28p for being a tad lazy! Do I loose an MSE point for being a tad lazy?

I’d be curious to know the maths behind this. How can you earn £2.56 in 7 days on £200 in an account paying 6.5%? 

It's not just the second deposit that can be made 6 days earlier in the account year, it's the 3rd, 4th, ..., 13th. Meaning overall there's an extra 6 days gained on £2,400 worth about £2.56 minus whatever interest could be earned on the money elsewhere.

But the second (and 3rd, 4th, etc) deposit can be made on the 1st of the month no matter if you open it 23/09 or 29/09 right?