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

Bobblehat

saverkev said:

What am I 

Sorry if somewhat off topic but this thread got me thinking
A coin collector is a numismatist
A stamp collector is a philatelist
A book collector is bibliophile
A regular saver collector is a ??????

Servatorregularist?

or Bridlingtonist? 

london21

Had 2 instant access accounts when the interest rates were a bit high now moved to index funds and premium bond. 

dgpur

saverkev said:

What am I 

Sorry if somewhat off topic but this thread got me thinking
A coin collector is a numismatist
A stamp collector is a philatelist
A book collector is bibliophile
A regular saver collector is a ??????

Menstruamist.

arthurdick

saverkev said:

What am I 

Sorry if somewhat off topic but this thread got me thinking
A coin collector is a numismatist
A stamp collector is a philatelist
A book collector is bibliophile
A regular saver collector is a ??????

In my case, I am a FOMOalist  before they go NLA.

Angelica123

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! 

For me it depends on the interest rate and the tax situation. The aim is always to get the highest yield. 

As a higher tax payer, my personal saving allowance is £500. Thanks to the Nationwide Fairer Share, I do end up exceeding it. So I have a split between ISA and high interest regular savers. I will only fund regular savers whose interest is above 7% (as if taxed, I would still earn equivalent of money in an ISA at 4.2%). 

You will find that your saving strategy will always be adjusting. 

masonic

Bridlington1 said:

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).

I would only draw the line at regular savers that you have opened in prior years, but have stubbornly refused to flush after the end of that term.

subjecttocontract

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 think I'm going to leave my reg saver count as 23 as they are the ones fully funded.
Like others I use spreadsheets and separate my cash holdings into ISAs, fixed rate bonds, easy access, regular savers, support accounts etc. Although my Manchester, Nat West & Halifax accounts are called reg savers they are not on my reg saver list......so I'm not going to include them.

My take on this is that, as we didn't set the rules before we started, the figures aren't likely to be comparable as we will all be using different parameters. Still, it's all a bit of fun.

Bobblehat

subjecttocontract said:

.........

My take on this is that, as we didn't set the rules before we started, the figures aren't likely to be comparable as we will all be using different parameters. Still, it's all a bit of fun.

Thanks stc ... I'll leave your entry at 23

Totally agree with your last paragraph, and especially your last sentence 

allegro120

Bridlington1 said:

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).

I think you are right, I've misinterpreted the question and consequently gave the wrong answer.
 

Bobblehat

allegro120 said:

Bridlington1 said:

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).

I think you are right, I've misinterpreted the question and consequently gave the wrong answer.
 

I'll happily adjust your entry in the table to any amended figures you would like .... same for all contributors