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

Kim_13

Highlanddream said:

Are people doing these after they have used their ISA allowance ? I am working out how to save when I have finished paying off debt. I will be able to save approx 1000 a month. I realise it is a while off but keeps me sane! 

I’ve only used £201 of my ISA allowance. I keep a spreadsheet of my interest and will switch to ISA should it look as though that would result in a higher net return.

Highlanddream

Kim_13 said:

Highlanddream said:

Are people doing these after they have used their ISA allowance ? I am working out how to save when I have finished paying off debt. I will be able to save approx 1000 a month. I realise it is a while off but keeps me sane! 

I’ve only used £201 of my ISA allowance. I keep a spreadsheet of my interest and will switch to ISA should it look as though that would result in a higher net return.

Thanks Kim.

allegro120

Highlanddream said:

Are people doing these after they have used their ISA allowance ? I am working out how to save when I have finished paying off debt. I will be able to save approx 1000 a month. I realise it is a while off but keeps me sane! 

I take full advantage of ISA allowance before any other saving accounts.  I  wouldn't do this if I had only £1000 a month to save because that won't generate taxable interest (unless ISA rate is higher than normal savings accounts).

subjecttocontract

masonic said:

subjecttocontract said:

masonic said:

Bobblehat said:

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?

The Halifax RS just empties into a separate saver and rolls over for another year.

This one hasnt. It's still showing as a reg saver.

If it is still showing as a regular saver, and it has been open for more than a year, then it has emptied into a separate saver and rolled over for another year. It may be the case that the balance that it spat out at the end of the 12 month term was zero if you opened it and never funded it. For most people, there will at least be some interest at the end of the 12 months that will be paid out before the account resets. It is not an account where the 12 month term starts when you first fund it, so you need to be aware that it has already been through one maturity, and will mature again each March until you close or upgrade it to a different type of account.

I think there may be some misunderstanding here. I only discovered I had the reg saver account last week when I logged into Halifax for the first time in a long time. The balance is zero, I've had the proceeds sometime in the past, I'm not interested in closing it or spending any time dealing with it, it's not causing me any problems, I just raised it as a question for this interesting little competition that's being run on this thread. 

masonic

subjecttocontract said:

masonic said:

subjecttocontract said:

masonic said:

Bobblehat said:

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?

The Halifax RS just empties into a separate saver and rolls over for another year.

This one hasnt. It's still showing as a reg saver.

If it is still showing as a regular saver, and it has been open for more than a year, then it has emptied into a separate saver and rolled over for another year. It may be the case that the balance that it spat out at the end of the 12 month term was zero if you opened it and never funded it. For most people, there will at least be some interest at the end of the 12 months that will be paid out before the account resets. It is not an account where the 12 month term starts when you first fund it, so you need to be aware that it has already been through one maturity, and will mature again each March until you close or upgrade it to a different type of account.

I think there may be some misunderstanding here. I only discovered I had the reg saver account last week when I logged into Halifax for the first time in a long time. The balance is zero, I've had the proceeds sometime in the past, I'm not interested in closing it or spending any time dealing with it, it's not causing me any problems, I just raised it as a question for this interesting little competition that's being run on this thread. 

It's just something to be aware of if you ever decide to start using it again. It's behaviour could lead to unexpected results. But for the purposes of this thread I would definitely not count it.

Bobblehat

Kim_13 said:

Highlanddream said:

Are people doing these after they have used their ISA allowance ? I am working out how to save when I have finished paying off debt. I will be able to save approx 1000 a month. I realise it is a while off but keeps me sane! 

I’ve only used £201 of my ISA allowance. I keep a spreadsheet of my interest and will switch to ISA should it look as though that would result in a higher net return.

Whether I'm thinking correctly or not, I do use my full ISA allowance, but regard it as part of an overall plan (a bit grand to call it a plan, really!), where I use available EA holdings first on high rate RS, Fixes or Notice accounts until they come to a point where the rate less tax approaches what ISA rates I could get. Then I use the ISA allowance. If there is anything left in the EA after the above, I see if there are any RS's available that give better returns than the EA.

Some things to note ...

1) I don't apply for some RS's that have "high" rates if there are too many hoops to jump through, or have somehow earned a bad reputation, or I'm just not eligible!
2) I keep some money in EA because I find the number of accounts I'm servicing is getting close to the maximum that I am comfortable with.
3) Occasionally, there is a seismic upward jump in that number due to chatter on here and I discover a new way of making things easier to administer.
4) Whether rightly or wrongly, being on the north side of 70, I think it might be a bit late for me to show interest in investing, given that when I was younger I gave little consideration to that as I could only have dabbled at a relatively low level in those days!

YMMV 

Bobblehat

subjecttocontract said:

masonic said:

subjecttocontract said:

masonic said:

Bobblehat said:

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?

The Halifax RS just empties into a separate saver and rolls over for another year.

This one hasnt. It's still showing as a reg saver.

If it is still showing as a regular saver, and it has been open for more than a year, then it has emptied into a separate saver and rolled over for another year. It may be the case that the balance that it spat out at the end of the 12 month term was zero if you opened it and never funded it. For most people, there will at least be some interest at the end of the 12 months that will be paid out before the account resets. It is not an account where the 12 month term starts when you first fund it, so you need to be aware that it has already been through one maturity, and will mature again each March until you close or upgrade it to a different type of account.

I think there may be some misunderstanding here. I only discovered I had the reg saver account last week when I logged into Halifax for the first time in a long time. The balance is zero, I've had the proceeds sometime in the past, I'm not interested in closing it or spending any time dealing with it, it's not causing me any problems, I just raised it as a question for this interesting little competition that's being run on this thread. 

I love the idea of discovering forgotten accounts ... a bit like bumping into an old friend 

allegro120

masonic said:

subjecttocontract said:

masonic said:

subjecttocontract said:

masonic said:

Bobblehat said:

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?

The Halifax RS just empties into a separate saver and rolls over for another year.

This one hasnt. It's still showing as a reg saver.

If it is still showing as a regular saver, and it has been open for more than a year, then it has emptied into a separate saver and rolled over for another year. It may be the case that the balance that it spat out at the end of the 12 month term was zero if you opened it and never funded it. For most people, there will at least be some interest at the end of the 12 months that will be paid out before the account resets. It is not an account where the 12 month term starts when you first fund it, so you need to be aware that it has already been through one maturity, and will mature again each March until you close or upgrade it to a different type of account.

I think there may be some misunderstanding here. I only discovered I had the reg saver account last week when I logged into Halifax for the first time in a long time. The balance is zero, I've had the proceeds sometime in the past, I'm not interested in closing it or spending any time dealing with it, it's not causing me any problems, I just raised it as a question for this interesting little competition that's being run on this thread. 

It's just something to be aware of if you ever decide to start using it again. It's behaviour could lead to unexpected results. But for the purposes of this thread I would definitely not count it.

Agreed.  That shouldn't count   I didn't count my Suffolk. I have some money there, but didn't make any deposits since July.  I have some money in Ecology, stopped paying in when they scrapped DD facilities, withdrew most but left some money in because I like what they do and what they stand for.  I have Saffron's SS paying in £1 a month for continuous membership (don't really need to do this, it's just a habit.  I didn't think it would be right to include accounts like this.

Bridlington1

allegro120 said:

masonic said:

subjecttocontract said:

masonic said:

subjecttocontract said:

masonic said:

Bobblehat said:

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?

The Halifax RS just empties into a separate saver and rolls over for another year.

This one hasnt. It's still showing as a reg saver.

If it is still showing as a regular saver, and it has been open for more than a year, then it has emptied into a separate saver and rolled over for another year. It may be the case that the balance that it spat out at the end of the 12 month term was zero if you opened it and never funded it. For most people, there will at least be some interest at the end of the 12 months that will be paid out before the account resets. It is not an account where the 12 month term starts when you first fund it, so you need to be aware that it has already been through one maturity, and will mature again each March until you close or upgrade it to a different type of account.

I think there may be some misunderstanding here. I only discovered I had the reg saver account last week when I logged into Halifax for the first time in a long time. The balance is zero, I've had the proceeds sometime in the past, I'm not interested in closing it or spending any time dealing with it, it's not causing me any problems, I just raised it as a question for this interesting little competition that's being run on this thread. 

It's just something to be aware of if you ever decide to start using it again. It's behaviour could lead to unexpected results. But for the purposes of this thread I would definitely not count it.

Agreed.  That shouldn't count   I didn't count my Suffolk. I have some money there, but didn't make any deposits since July.  I have some money in Ecology, stopped paying in when they scrapped DD facilities, withdrew most but left some money in because I like what they do and what they stand for.  I have Saffron's SS paying in £1 a month for continuous membership (don't really need to do this, it's just a habit.  I didn't think it would be right to include accounts like this.

I suspect this could upset the figures on @Bobblehat's spreadsheet a bit then.

I included each regular saver I currently have, so my figure includes the likes of Saffron Small Saver, NatWest/RBS's DRSs etc. My interpretation was the original question was about how many regular savers you've got, without there being a distinction made between those that are fully funded and those that aren't.

I'm afraid I just haven't the funds to feed all of my regular savers, I could get about £20k/mth into mine if I wanted to, over £13.5k of that would be at 5%+.

I have some accounts that get used as ``dripping tray accounts" for leftover funds, such as Santander, Melton's RS5 etc which gets topped up in some months but then emptied into other accounts the following month depending on cashflow. These could arguably sit on the edge of being counted or not if I were to narrow my accounts down.

Melton's RS 5 often ends up getting emptied at the start of the month, then topped up towards the end of the month when I get paid, before being emptied again into other Melton BS accounts by internal transfer (which between them have a total max monthly pay in that equals the RS5).

Mrs_Trellis_of_North_Wales

I opened my first in August 2025, and I now have 25, all funded. They are with 21 different providers, 11 of which I had no previous relationship with.