We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Savings account allowing standing orders?

Stoodles
Posts: 831 Forumite


I'm sure this has been asked before, but can't find it.
Is there a savings account paying reasonable interest that allows me to set up recurring payments to my bank account. I want to smooth my retirement income without having to intervene regularly.
The only options I've found so far are Chase, but their rate is only 2.5% once the boost ends, and HTB which pays 4% for now, but needs me to set up each months payment individually, though does allow me to do them in advance.
Is there a savings account paying reasonable interest that allows me to set up recurring payments to my bank account. I want to smooth my retirement income without having to intervene regularly.
The only options I've found so far are Chase, but their rate is only 2.5% once the boost ends, and HTB which pays 4% for now, but needs me to set up each months payment individually, though does allow me to do them in advance.
0
Comments
-
Charter Savings Bank Easy Access allows repeat regular withdrawals (so look like Standing Orders!). Currently 4.31% Annual Int and 4.23% Monthly Int.0
-
Thank you!0
-
Forgot to add that the withdrawals would be to your nominated account that you'd have set up in Charter!0
-
Most of the higher-rate "savers" are deliberately restrictive and don't let you set up standing orders. If you want something that behaves more like a current account, you're usually looking at notice accounts or easy-access accounts from the bigger banks, but the rates won't be as high0
-
Worth looking at Nationwide's FlexDirect current account - 5% interest on balances up to £1500, if you pay in over £1000 a month. That rate is for the first year only though.0
-
Nationwide is my main account, the one I want to pay into. I'm not eligible for a new account offer with them.
I have a 3% saver there, but I can't set up regular payments out of it0 -
The Skipton Building Society Bonus Saver account currently pays 4.12%pa (including a 1 year bonus rate of 1.82%pa - but it may offer an account with a new bonus rate that you could transfer to in future). It can be opened and operated online, in app, at branch or by post. Sole or joint accounts are allowed. Withdrawals are to a nominated current account, but you can have two nominated accounts set up at the same time. Crucially, you can set up a regular withdrawal (e.g. monthly).
https://www.skipton.co.uk/savings/easy-access/bonus-saver
0 -
Gatehouse used to have (and may still have) a repeat regular withdrawal facility, but I withdrew all but a £1 when their rates dropped in April. Their current rates are not particularly attractive.0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.6K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.9K Spending & Discounts
- 244.5K Work, Benefits & Business
- 599.8K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards