The Top Regular Savers Discussion Thread

DRS1

Bridlington1 said:

Anyone else unable to make deposits into Manchester BS's regular savers?

I was able to make my initial deposit last month but this month's has bounced.

They've since said a letter sent to my address was returned and that they shan't accept deposits into the account until they've verified a copy of my passport and proof of address, which I sent over a week ago and have heard nothing back since then.

Well my first payment made today bounced back (not that it has arrived back yet) because I sent it from an account which was not my nominated account.  You can only have one nominated account for all your Manchester Building Society accounts.  And when you change it you need to authorise it so it will be another week or so before I can make a payment   I don't really understand why payments IN have to come from a single account.  Very odd.

Chaykin

s71hj said:

Chaykin said:

Slinky said:

Furness BS credit standing orders made on the 1st to my account on the 2nd. Has anyone tried paying on the last day of the month to be credited on 1st of following month, which would, for the first month, technically be 2 payments in the same month?  Did it work?

I have this RS too and would like to know. I'm up for experimenting with this and I am going to do the £500.00 transfer first thing on Fri 31st of Oct 2025 and report back.

Is this the 4% RS? 

No. It's the Christmas Regular Saver Issue 2 - 5.25%.

s71hj

Chaykin said:

s71hj said:

Chaykin said:

Slinky said:

Furness BS credit standing orders made on the 1st to my account on the 2nd. Has anyone tried paying on the last day of the month to be credited on 1st of following month, which would, for the first month, technically be 2 payments in the same month?  Did it work?

I have this RS too and would like to know. I'm up for experimenting with this and I am going to do the £500.00 transfer first thing on Fri 31st of Oct 2025 and report back.

Is this the 4% RS? 

No. It's the Christmas Regular Saver Issue 2 - 5.25%.

Nla I guess

kermchem

surreysaver said:

That's the Newcastle Monument Regular Saver successfully opened!
Shame the new Greggs pub is closed for a private event today 

Ok, so I have read the posts that follow the above post. I live close enough that I can easily reach the Monument branch, and I had already contemplated getting this account - nice day out.

Did surreysaver make an appointment (as the web site says) or did they just walk into branch and ask for the account - and if so did this result in an interview / appointment or did the staff show you a QR code in the corner of the office?

Many QR codes are set up to recycle every now and then, so a photograph of a QR code might not work within minutes, hours or days.

s71hj

kermchem said:

surreysaver said:

That's the Newcastle Monument Regular Saver successfully opened!
Shame the new Greggs pub is closed for a private event today 

Ok, so I have read the posts that follow the above post. I live close enough that I can easily reach the Monument branch, and I had already contemplated getting this account - nice day out.

Did surreysaver make an appointment (as the web site says) or did they just walk into branch and ask for the account - and if so did this result in an interview / appointment or did the staff show you a QR code in the corner of the office?

Many QR codes are set up to recycle every now and then, so a photograph of a QR code might not work within minutes, hours or days.

The advantage of taking a photo of a qr code is that nobody knows that's what you're doing as it looks the same as reading a qr code. 

mhoc

It only took me 2 clicks to find the Newcastle monument page so its not exactly hidden 

But I dont know why its causing so much interest - 5.50% and variable is at the lower end of acceptable interest rates.
£500 for 24 months is good but no withdrawals allowed. And there again that £500 could be put to much better use in a regular saver with better interest or a regular saver with fixed rate interest.  

https://newcastle.co.uk/savings/monument-regular-saver-branch

BestSeagull

mhoc said:

It only took me 2 clicks to find the Newcastle monument page so its not exactly hidden 

But I dont know why its causing so much interest - 5.50% and variable is at the lower end of acceptable interest rates.
£500 for 24 months is good but no withdrawals allowed. And there again that £500 could be put to much better use in a regular saver with better interest or a regular saver with fixed rate interest.  

https://newcastle.co.uk/savings/monument-regular-saver-branch

"Withdrawals/transfers can be made penalty free without notice."

surreysaver

mhoc said:

It only took me 2 clicks to find the Newcastle monument page so its not exactly hidden 

But I dont know why its causing so much interest - 5.50% and variable is at the lower end of acceptable interest rates.
£500 for 24 months is good but no withdrawals allowed. And there again that £500 could be put to much better use in a regular saver with better interest or a regular saver with fixed rate interest.  

https://newcastle.co.uk/savings/monument-regular-saver-branch

Cat's out the bag

Kim_13

A Regular Saver is surely any account with a limited monthly pay in - £150 in the case of both the NatWest/RBS Digital Regular Savers and the Coventry Sunny Day Saver (2), which is a Regular Saver that Bridlington1 briefly mentioned when it launched but that is not included on the first page due to 4.3% being too low for inclusion and monthly prize draws not qualifying as a special condition. I pay £10 per month in for this reason, having only opened the account thanks to Bridlington1 flagging it, and only mentioned it in the last few days to correct a post which suggested that £10 per month should be paid into the Loyalty Regular Saver (3) for prize draw entries (there are no prize draws remaining on this account, only the SDS.)

A DRS that has reached £5,000 is surely still a Regular Saver, it’s just that it is fully funded as far as visitors here would be concerned and never reaches maturity (even though the banks wouldn’t refuse further deposits at 1.x% interest.)

Sometimes the names providers give accounts don’t do a very good job of describing what they are - Coventry Sunny Day not including the word Regular, Market Harborough having two Regular Savers that can only be opened in branch but naming one of them Branch Exclusive or West Brom earlier this year withdrawing their fixed rate RS months after it went branch only, before relaunching the same issue with no changes.

When interest is paid is only important if that helps people to choose the best accounts for them - managing PSA in one year vs another. Virgin Money have paid interest quarterly and no one said that wasn’t a Regular Saver. The providers choose when to pay interest on Regular Savers without exception, it is with Easy Access that savers sometimes get a choice to opt for monthly interest. NatWest/RBS themselves have chosen monthly, perhaps in hope they will get funds at the lower rate because some customers fail to withdraw the interest each and every month once at £5,000.

s71hj

surreysaver said:

mhoc said:

It only took me 2 clicks to find the Newcastle monument page so its not exactly hidden 

But I dont know why its causing so much interest - 5.50% and variable is at the lower end of acceptable interest rates.
£500 for 24 months is good but no withdrawals allowed. And there again that £500 could be put to much better use in a regular saver with better interest or a regular saver with fixed rate interest.  

https://newcastle.co.uk/savings/monument-regular-saver-branch

Cat's out the bag

Still no QR though!