The Top Regular Savers Discussion Thread

wmb194

Kim_13 said:

Hope no one minds me asking here as it seemed too obvious a question for the Bank Account board but one that many here would know the answer to. I have just upgraded to NatWest Reward and understand that the monthly rewards can be set to pay into the Digital Regular Saver without counting toward the £150 monthly limit, but cannot find how to select this. Or do I actually need to have accrued rewards before I can choose?

Thanks

It's a selection you make when you cash in the Reward. You don't set it in advance.

roked

Kim_13 said:

Hope no one minds me asking here as it seemed too obvious a question for the Bank Account board but one that many here would know the answer to. I have just upgraded to NatWest Reward and understand that the monthly rewards can be set to pay into the Digital Regular Saver without counting toward the £150 monthly limit, but cannot find how to select this. Or do I actually need to have accrued rewards before I can choose?

Thanks

You need manually do it each time you have a payable reward i.e. not pending and has to be at least £5. When you do, just click exchange rewards and choose account and you can pick your regular saver to pay it in to. Normally takes 2-3 days to process. 

s71hj

roked said:

Kim_13 said:

Hope no one minds me asking here as it seemed too obvious a question for the Bank Account board but one that many here would know the answer to. I have just upgraded to NatWest Reward and understand that the monthly rewards can be set to pay into the Digital Regular Saver without counting toward the £150 monthly limit, but cannot find how to select this. Or do I actually need to have accrued rewards before I can choose?

Thanks

You need manually do it each time you have a payable reward i.e. not pending and has to be at least £5. When you do, just click exchange rewards and choose account and you can pick your regular saver to pay it in to. Normally takes 2-3 days to process. 

Just remember it defaults to £5 but if you have more available you can slide the slider up to whatever you have available. 

surreysaver

Kim_13 said:

Hope no one minds me asking here as it seemed too obvious a question for the Bank Account board but one that many here would know the answer to. I have just upgraded to NatWest Reward and understand that the monthly rewards can be set to pay into the Digital Regular Saver without counting toward the £150 monthly limit, but cannot find how to select this. Or do I actually need to have accrued rewards before I can choose?

Thanks

Go to help - Chat to Cara - type Round Ups and Cara will point you in the right direction 

Bridlington1

easysaver said:

Speculator said:

francoghezzi said:

Kim_13 said:

francoghezzi said:

SCOTTISH BUILDING SOCIETY SO
Just had a chat with a nice lady at the Scottish BS regarding the timing to update the online banking with the standing orders from nominated bank accounts. It looks that is normally taking 48 hours. So for those still wondering if their money sent last week-end or during Sunday night safely landed the best advice is to check the on line portal at some point today and remember this quite slow process for the months to come (and brace yourselves when it comes to the deposit on the first of January :-) )

You mentioned nominated accounts, but I wasn’t aware that funds had to come from the nominated account? I nominated the account the cheque came from as I thought that would be easier but would rather pay in from another account going forward if possible.

I prefer to pay from the nominated account in order to avoid any problems and because, frankly, I don't remember which BS accept payments even from other sources. So I prefer the easy way, but it is just personal. I edited my post to make sure that this is clearer . Wherever your money comes from the on line banking should be updated at some point today

The only regular saver accounts that I hold that require deposit from nominated accounts are my Manchester and my Newcastle Monument account. (but not my 5.25% Newcastle reg)

@Bridlington1 - I think the entry on the first page for the Manchester BS Regular Saver Issue 1 should state that it needs to be funded from your nominated account as per Ford Money and Aldermore. Many thanks

This has now been updated. Apologies for the oversight.

easysaver

Bridlington1 said:

easysaver said:

Speculator said:

francoghezzi said:

Kim_13 said:

francoghezzi said:

SCOTTISH BUILDING SOCIETY SO
Just had a chat with a nice lady at the Scottish BS regarding the timing to update the online banking with the standing orders from nominated bank accounts. It looks that is normally taking 48 hours. So for those still wondering if their money sent last week-end or during Sunday night safely landed the best advice is to check the on line portal at some point today and remember this quite slow process for the months to come (and brace yourselves when it comes to the deposit on the first of January :-) )

You mentioned nominated accounts, but I wasn’t aware that funds had to come from the nominated account? I nominated the account the cheque came from as I thought that would be easier but would rather pay in from another account going forward if possible.

I prefer to pay from the nominated account in order to avoid any problems and because, frankly, I don't remember which BS accept payments even from other sources. So I prefer the easy way, but it is just personal. I edited my post to make sure that this is clearer . Wherever your money comes from the on line banking should be updated at some point today

The only regular saver accounts that I hold that require deposit from nominated accounts are my Manchester and my Newcastle Monument account. (but not my 5.25% Newcastle reg)

@Bridlington1 - I think the entry on the first page for the Manchester BS Regular Saver Issue 1 should state that it needs to be funded from your nominated account as per Ford Money and Aldermore. Many thanks

This has now been updated. Apologies for the oversight.

Absolutely no apology required! We crowdfund the minor corrections but you do the massive bulk of the work yourself and for that we all thank you very much.

PowerSavingMode

clairec666 said:

Bridlington1 said:

Russ66 said:

Bridlington1 said:

One option would be to open now but then refresh if still available in a month or two to push the maturity date on a bit.

This way you can still secure the account and don't risk missing out if it goes NLA sooner than it did last year but retain the option of pushing the maturity date on a couple of months if still available at the time.

Probably being a bit dull here but what do you mean by "Refresh"
Do you mean open one now then close it & open another down the line if still available? TIA

By ``refresh" I mean close an account to reopen the same account. So yes, with Principality accounts (and others) I'll often open one when they're launched, then close and reopen the account at the end of the month if still available.

For future reference I have also included this term in the list of common abbreviations and their meanings on page 1 of this thread.

I wondered about compiling a list of "niche" regular saver stuff, like 13th payments, debit card deposits, which accounts can be easily refreshed etc., allowances that roll over each month (like Skipton for example)...

Would this be of interest to anyone?
The information on page 1 of this thread is fine as it is, so doesn't need to be cluttered with any more information.

Yes, please. That would be really helpful and gratefully received.

Bridlington1

clairec666 said:

Bridlington1 said:

clairec666 said:

Bridlington1 said:

Russ66 said:

Bridlington1 said:

One option would be to open now but then refresh if still available in a month or two to push the maturity date on a bit.

This way you can still secure the account and don't risk missing out if it goes NLA sooner than it did last year but retain the option of pushing the maturity date on a couple of months if still available at the time.

Probably being a bit dull here but what do you mean by "Refresh"
Do you mean open one now then close it & open another down the line if still available? TIA

By ``refresh" I mean close an account to reopen the same account. So yes, with Principality accounts (and others) I'll often open one when they're launched, then close and reopen the account at the end of the month if still available.

For future reference I have also included this term in the list of common abbreviations and their meanings on page 1 of this thread.

I wondered about compiling a list of "niche" regular saver stuff, like 13th payments, debit card deposits, which accounts can be easily refreshed etc., allowances that roll over each month (like Skipton for example)...

Would this be of interest to anyone?
The information on page 1 of this thread is fine as it is, so doesn't need to be cluttered with any more information.

I seem to recall someone mentioned (or possibly started) compiling a list of banks/building societies that accept 13th payments on their regular savers but it was abandoned as there's too many niche cases where it depends on the specific regular saver. 

Savings accounts that allow debit card payments are already covered in another thread I maintain so don't think this needs another thread.

I am considering compiling a list of bank/building society faster payment cut off times though so this is already on my radar, just haven't got round to it yet as tidying up the archived thread took priority recently.

For accounts that can easily be refreshed, I suppose I could incorporate this into my existing listings.

I'll have a think about it, apologies I've only got a few mins left of my dinner break at work so haven't the time to give a full response to your suggestion at the moment.

No worries, enjoy your dinner

The cut off times would definitely be of interest to me.
I'm not bothered about the 13th payment thing myself, but I see a lot of messages from people about it, so thought it would be useful to collate the information in one place.

As for refreshing accounts, I know there are some where you can't re-open straight away, and have to wait until the anniversary of opening. Might be of use to some people.

With regards to 13th payments, when setting up the thread I've taken the view that whether or not an account accepts the additional payment can be implied already from the summaries, e.g. if the maximum balance is listed as N/A and the account operates on a calendar month basis then it shall accept the extra payment unless there is a special condition that dictates otherwise. If it has a maximum balance which is equal to the total number of months the account lasts multiplied by the max monthly deposit then the extra deposit isn't permitted.

I did include this  in my summary of changes to the structure of the thread when I took over this thread late last year, but I suppose I could make this more explicit, e.g. include in the opening description something along the lines of ``All accounts allow a 13th payment if they operate on a calendar month basis unless stated otherwise." and then state in the special conditions when an account does not accept the 13th payment.

I probably wouldn't include that exact wording since it's not strictly accurate, e.g. for accounts such as Principality's 6 Month RS which doesn't last 12 months.

Cut off times would probably take the form of a separate thread which includes multiple banks/building societies (not just the ones that offer regular savers), it's not going to be the quickest list to compile given the number of different banks/building societies. I am also conscious that I am likely to have some overtime coming up later this month so there's a good chance I'll be pressed for time during the middle of the month (not to the extent that I was in late Jan/early Feb though) so this might add a further delay. I therefore shan't specify when I expect this thread to be launched beyond saying it's on my radar and I plan to launch it at some stage and I'll add a link to it to p1 of this thread when it gets launched.

With regards to refreshing accounts, upon reflection there's an element of ``your milage may vary" at play, e.g. for some people they may decide to ask for further ID as a one off etc but not for others, or it may be quick to refresh an account if you have other accounts with that bank/building society but not if it's your only account. I also remain conscious that I don't want each listing to become too long otherwise it starts to defeat the point of summarising them in the first place.

Therefore I might shelve the suggestion of including which accounts can easily be refreshed for now as I have concerns about the practicality of implementing it and I also have no issues with people asking which accounts can be refreshed easily in this thread and others discussing their experiences in refreshing accounts, indeed it's one of the purposes of this thread.

With regards to the earlier suggestion about listing which accounts allow deposits to be made by debit card, they are already included on the thread below under the section ``Savings accounts that let you pay in by debit card".
https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

The list on the thread above already lists Cambridge, Darlington, Dudley, Hanley, Leeds (initial deposit only), Monmouthshire (branch only), Newcastle (branch only), Progressive, Skipton and YBS, if there's any I've missed please let me know on the Savings/investment DDs and debit card deposits- An updated list thread or send me a message directly and I can add them. For any queries or discussion about the debit card functionality specifically I would suggest using the above above thread.

As ever though I remain open to any further suggestions you or anyone else might have if they wish to send me a message directly. I must stress however that I can never guarantee I can implement all suggestions (there's many reasons why I don't wear my underpants on the outside of my trousers, the fact that I am not superman is one of them) but I do consider them.

francoghezzi

Bridlington1 said:

clairec666 said:

Bridlington1 said:

clairec666 said:

Bridlington1 said:

Russ66 said:

Bridlington1 said:

One option would be to open now but then refresh if still available in a month or two to push the maturity date on a bit.

This way you can still secure the account and don't risk missing out if it goes NLA sooner than it did last year but retain the option of pushing the maturity date on a couple of months if still available at the time.

Probably being a bit dull here but what do you mean by "Refresh"
Do you mean open one now then close it & open another down the line if still available? TIA

By ``refresh" I mean close an account to reopen the same account. So yes, with Principality accounts (and others) I'll often open one when they're launched, then close and reopen the account at the end of the month if still available.

For future reference I have also included this term in the list of common abbreviations and their meanings on page 1 of this thread.

I wondered about compiling a list of "niche" regular saver stuff, like 13th payments, debit card deposits, which accounts can be easily refreshed etc., allowances that roll over each month (like Skipton for example)...

Would this be of interest to anyone?
The information on page 1 of this thread is fine as it is, so doesn't need to be cluttered with any more information.

I seem to recall someone mentioned (or possibly started) compiling a list of banks/building societies that accept 13th payments on their regular savers but it was abandoned as there's too many niche cases where it depends on the specific regular saver. 

Savings accounts that allow debit card payments are already covered in another thread I maintain so don't think this needs another thread.

I am considering compiling a list of bank/building society faster payment cut off times though so this is already on my radar, just haven't got round to it yet as tidying up the archived thread took priority recently.

For accounts that can easily be refreshed, I suppose I could incorporate this into my existing listings.

I'll have a think about it, apologies I've only got a few mins left of my dinner break at work so haven't the time to give a full response to your suggestion at the moment.

No worries, enjoy your dinner

The cut off times would definitely be of interest to me.
I'm not bothered about the 13th payment thing myself, but I see a lot of messages from people about it, so thought it would be useful to collate the information in one place.

As for refreshing accounts, I know there are some where you can't re-open straight away, and have to wait until the anniversary of opening. Might be of use to some people.

With regards to 13th payments, when setting up the thread I've taken the view that whether or not an account accepts the additional payment can be implied already from the summaries, e.g. if the maximum balance is listed as N/A and the account operates on a calendar month basis then it shall accept the extra payment unless there is a special condition that dictates otherwise. If it has a maximum balance which is equal to the total number of months the account lasts multiplied by the max monthly deposit then the extra deposit isn't permitted.

I did include this  in my summary of changes to the structure of the thread when I took over this thread late last year, but I suppose I could make this more explicit, e.g. include in the opening description something along the lines of ``All accounts allow a 13th payment if they operate on a calendar month basis unless stated otherwise." and then state in the special conditions when an account does not accept the 13th payment.

I probably wouldn't include that exact wording since it's not strictly accurate, e.g. for accounts such as Principality's 6 Month RS which doesn't last 12 months.

Cut off times would probably take the form of a separate thread which includes multiple banks/building societies (not just the ones that offer regular savers), it's not going to be the quickest list to compile given the number of different banks/building societies. I am also conscious that I am likely to have some overtime coming up later this month so there's a good chance I'll be pressed for time during the middle of the month (not to the extent that I was in late Jan/early Feb though) so this might add a further delay. I therefore shan't specify when I expect this thread to be launched beyond saying it's on my radar and I plan to launch it at some stage and I'll add a link to it to p1 of this thread when it gets launched.

With regards to refreshing accounts, upon reflection there's an element of ``your milage may vary" at play, e.g. for some people they may decide to ask for further ID as a one off etc but not for others, or it may be quick to refresh an account if you have other accounts with that bank/building society but not if it's your only account. I also remain conscious that I don't want each listing to become too long otherwise it starts to defeat the point of summarising them in the first place.

Therefore I might shelve the suggestion of including which accounts can easily be refreshed for now as I have concerns about the practicality of implementing it and I also have no issues with people asking which accounts can be refreshed easily in this thread and others discussing their experiences in refreshing accounts, indeed it's one of the purposes of this thread.

With regards to the earlier suggestion about listing which accounts allow deposits to be made by debit card, they are already included on the thread below under the section ``Savings accounts that let you pay in by debit card".
https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

The list on the thread above already lists Cambridge, Darlington, Dudley, Hanley, Leeds (initial deposit only), Monmouthshire (branch only), Newcastle (branch only), Progressive, Skipton and YBS, if there's any I've missed please let me know on the Savings/investment DDs and debit card deposits- An updated list thread or send me a message directly and I can add them. For any queries or discussion about the debit card functionality specifically I would suggest using the above above thread.

As ever though I remain open to any further suggestions you or anyone else might have if they wish to send me a message directly. I must stress however that I can never guarantee I can implement all suggestions (there's many reasons why I don't wear my underpants on the outside of my trousers, the fact that I am not superman is one of them) but I do consider them.

If I may, Suffolk also allow you to pay debit card. I'm funding all my regular savers with them paying directly with my debit card every 1st of the month via their website

Section62

francoghezzi said:

If I may, Suffolk also allow you to pay debit card. I'm funding all my regular savers with them paying directly with my debit card every 1st of the month via their website

Website funding by debit card only applies to online versions of the regular savers - the branch/postal versions can be funded by debit card in branch, but not online.