Being nosey... How many Regular Saver accounts do you have?

masonic

subjecttocontract said:

I think The numbers are questionable.

Is a regular saver a regular saver if you are not paying into it regularly ?

I fully fund all of my 20 and am at or near a point of equilibrium, with a monthly commitment of £6,125. As I did my monthly financial snapshot this morning, my current balance across these accounts is £33,975 and annual interest at current rates and balances is £2,102.

francoghezzi

27 (and remarkably only 1 with Principality ) with the last one opened on Wednesday morning visiting the Scottish Building Society branch in Troon. It all started few years ago with my first regular saver with Coventry. I still remember the joy when I received my interests at the end of the year, not an easy task for someone on minimum wage but who knows the value of being a saver having been brought up in an Italian family, a country where 'savings' are a 'must' and something your parents teach you about since you are a young lad

Malchester

Currently have a massive 0 [zero]

deinoflex

I've got none too.

trickydicky14

How are folks assessing returns, is the figure based just on the RS returns or does the figure include interest from the feeder account as well?

masonic

trickydicky14 said:

How are folks assessing returns, is the figure based just on the RS returns or does the figure include interest from the feeder account as well?

I just took the current balance x rate for each account. To a large extent my feeder accounts are maturing RS. I dip in to EA accounts temporarily from time to time, but haven't accounted for that. Any net increase needs to come from income.

subjecttocontract

1. I've got a 3 year old Halifax reg saver which Halifax seem to think is open, it has a balance of zero, I do not contribute to it but, I guess I could, but wont.....does that count ?

2. I've got a Manchester BS Reg Saver which I don't know why I opened, I have no intention of ever contributing any more to it. Manchester think it's a regular saver account but I'm using it as an easy access account........does that count ?

3. What about any reg saver accounts that have matured but have not been closed (usually because providers don't make closure easy).......technically those accounts are still open......do they count ?

Bobblehat

trickydicky14 said:

How are folks assessing returns, is the figure based just on the RS returns or does the figure include interest from the feeder account as well?

I left out any EA returns and summed up the calculated interest at maturity. Included in the calculation is the extra interest generated by 13 (or more) payments and factors in my strategy (where appropriate) of opening late in the calendar month, funding immediately and then funding as soon in the next month as allowed!

edit: I must check that I added in Mrs Bobblehat's contribution!

edit: I did!

Bobblehat

subjecttocontract said:

1. I've got a 3 year old Halifax reg saver which Halifax seem to think is open, it has a balance of zero, I do not contribute to it but, I guess I could, but wont.....does that count ?

2. I've got a Manchester BS Reg Saver which I don't know why I opened, I have no intention of ever contributing any more to it. Manchester think it's a regular saver account but I'm using it as an easy access account........does that count ?

3. What about any reg saver accounts that have matured but have not been closed (usually because providers don't make closure easy).......technically those accounts are still open......do they count ?

1 & 2 ... I would say they do count because, as you say, you could contribute to them!

3 ... if you've moved the proceeds out of a matured account, or all but a nominal small amount, then I'd say no. If you've left the proceeds in, then I would say yes, as that is where you are still holding the money even though it's matured. Just my opinion ... others might think differently!

I'll update your entry, if you provide the new figures 

Bobblehat

subjecttocontract said:

1. I've got a 3 year old Halifax reg saver which Halifax seem to think is open, it has a balance of zero, I do not contribute to it but, I guess I could, but wont.....does that count ?

2. I've got a Manchester BS Reg Saver which I don't know why I opened, I have no intention of ever contributing any more to it. Manchester think it's a regular saver account but I'm using it as an easy access account........does that count ?

3. What about any reg saver accounts that have matured but have not been closed (usually because providers don't make closure easy).......technically those accounts are still open......do they count ?

Does the 3 year old Halifax account still show as an RS or has it been converted to an Instant Saver or similar?