The Top Regular Savers Discussion Thread

Bridlington1

chris_the_bee said:

Beverley
Regular Saver Issue 1 (NLA) is a peculiar RS. Interest rate is 5.5% of which 4.5% is conditional upon:-

1. Depositing between £10 & £150 each month
2. Making no withdrawals in the year
3. The account remaining open on 31st December

This means the account should only be closed on 1st January after the interest including conditional bonus has been credited. If closed on any other date, or if a withdrawal is made then the conditional bonus for that year is forfeited.
Thus the account should be viewed as long term as there is no end date
It can probably be closed without loosing the bonus if Beverley reduce the interest rate.

Worth noting that there's no obligation to make deposits, you'd just lose the bonus for that year if you do.

Instead of closing the account at the start of the year, I'd be more inclined to just withdraw down to the minimum at the start of 2026 and cease funding in case it's competitive in January 2027. It also gives you an account to retain membership.

Also of note is that the bonus is still paid if they announce a cut to the interest rate, if the manager of their only branch is to be believed.

happybagger

Re: Beverley BS RS 5.5% NLA

It's also not beyond possibility that they may loosen the terms in the future, to allow one withdrawal p/a for example, without losing the bonus. If they end up with a continuing inflow of funds costing them 5.5%, that would be one tool they could use to reduce balances (along with closing it to further deposits of course)

dibbles212

chris_the_bee said:

Bank of Scotland
Anyone had any luck opening  the Monthly Saver?
I keep getting "Something went wrong" message.
Tried since Thursday

I was getting that too. Were you applying from the app? I found that applying via the website worked.

csw5780

mhoc said:

friolento said:

mhoc said:

Question regarding Newcastle regular saver please.

My reg saver matured yesterday so I logged on today and the interest was added today 25th.
I opened a new regular saver which showed on the list of accounts straight away.
Then I did an transfer from the matured reg saver to fund the new reg saver and the Monument.
Even though it was an internal transfer these top up amounts are not showing.

Then I closed the old reg saver which is still showing the full total even though I've moved money out of it.

Logged off and logged on to see if the transfers showed and they didnt 

Assume it will be Monday before the account updates again???
 Its just odd that the new account is on the list straight away but not the transfers. 

I also opened a new Newcastle RS earlier this afternoon , as my previous one had matured. I made my first deposit by FP and had an email just after 4pm to confirm my “investment”. £200 indeed showing with today’s date in the new RS. Very impressive.

The withdrawal of the matured funds has yet to arrive in my current account, and I don’t expect this before Monday 

That explains what I am missing - confirmation emails. I had the one at about 11.30 when I opened the new regular saver. But I've not had confirmation emails that I've funded the new account or the Monumental - these were internal transfers so maybe you dont get confirmation emails as you do with external transfers in ... 

Newcastle BS RS Is1 (renewal).  Just got online secure message with letter containing account details and new RS showing too. 

maddiemay

 I have been funding the Principality 6 month account (as I will the one I am about to open) from my Lloyds Standard Saver as opposed to a current or BS account. At maturity of first one is it likely I will be offered roll over to Issue 5 with balance refunded to Lloyds saver? Sorry muddled after seeing references to current accounts/ spare BS accounts.

chris_the_bee

maddiemay said:

 I have been funding the Principality 6 month account (as I will the one I am about to open) from my Lloyds Standard Saver as opposed to a current or BS account. At maturity of first one is it likely I will be offered roll over to Issue 5 with balance refunded to Lloyds saver? Sorry muddled after seeing references to current accounts/ spare BS accounts.

Principality
Currently only at Issue 4, so it all depends.....

Digital_Payback

The Cumberland RS
Withdrawal info for The Cumberland RS reads as follows:

‘Yes – Withdrawals not permitted by direct debit, standing order, regular internal transfer or faster payments.

You can withdraw up to £500 each day in cash subject to the minimum operating balance of £1 being maintained.’

Does that mean £500 daily withdrawals by cash in branch and any larger sums by cheque via post only?

chris_the_bee

dibbles212 said:

chris_the_bee said:

Bank of Scotland
Anyone had any luck opening  the Monthly Saver?
I keep getting "Something went wrong" message.
Tried since Thursday

I was getting that too. Were you applying from the app? I found that applying via the website worked.

Bank of Scotland
From the website and just tried again with no luck.
When did you apply for yours?

dibbles212

chris_the_bee said:

dibbles212 said:

chris_the_bee said:

Bank of Scotland
Anyone had any luck opening  the Monthly Saver?
I keep getting "Something went wrong" message.
Tried since Thursday

I was getting that too. Were you applying from the app? I found that applying via the website worked.

Bank of Scotland
From the website and just tried again with no luck.
When did you apply for yours?

Sorry to hear that. About two weeks ago

allegro120

maddiemay said:

 I have been funding the Principality 6 month account (as I will the one I am about to open) from my Lloyds Standard Saver as opposed to a current or BS account. At maturity of first one is it likely I will be offered roll over to Issue 5 with balance refunded to Lloyds saver? Sorry muddled after seeing references to current accounts/ spare BS accounts.

When you do your maturity instruction it will ask you for sort code and account number of the account you want to transfer money to.  I can't see Lloyds Standard Saver being a problem.  I don't think it has to be a current account. I feed most of my Principality accounts from Cahoot savings accounts, once I accidentally overpaid and the money was returned to the same savings account it was sent from.  

As for "roll over to Issue 5" - nobody knows how long this scheme will last for, so you just have to wait and see what happens.