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

allegro120

Bobblehat said:

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 

It is 51 if I include all my currently opened Regular Savers   

Bobblehat

allegro120 said:

Bobblehat said:

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 

It is 51 if I include all my currently opened Regular Savers   

Has your funding level altered with the extra RS's? 

Newly_retired

RS = 14, including 3 which I no longer fund
Monthly funding £2525
Total amount = approx = £26500 

Chaykin

28 - BoS, 2x Chorley, Co-op, Darlington, FD, Furness, Halifax, 2x Lloyds, 1x Manchester, 3x Monmouthshire, Nationwide, NatWest, Newcastle, 5x Principality, Progressive, 2x Skipton, TSB, Vernon, Zopa

allegro120

Bobblehat said:

allegro120 said:

Bobblehat said:

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 

It is 51 if I include all my currently opened Regular Savers   

Has your funding level altered with the extra RS's? 

Yes, by £1 I've sent to Saffron SS  .  No need for altering my funding figure 

FishInGlass

Thanks for this bit of fun @Bobblehat

Not long back from a weekend away.

Just to update I have the 21 accounts one of which the NatWest is maxed out at £5k. Of the remaining 20 I am funding 18 at a monthly amount of £5450 and a total value of just over £40k. 

Halifax and Progressive at 5.5% are not being funded at the moment. I am happy with the situation even though I opened the new Progressive a week before the 2 new Monmouthshires came out and it probaly means I won't be eligible for their 7% version as far as I can tell. I have only opened accounts that are available online (with or without an associated bank account), or those I can open in branch.

I'm currently raiding my flexible Cash ISA to fund them but only temporarily!! as I have 5 maturing between now and the 5th December. Also keeping some cash in reserve to pay some stoozed credit cards. 

As far I can tell from my records my first regular saver was with the Leeds in 2015 but the present is almost my peak number of 23 having 2 Coventrys finish last month.

daz378

I have a Santander monthly saver 5%..that will be ending in a couple of months...first direct monthly 7%..with about 5 months left...a regular moneybox saver only 3.8%...so will be looking to  open a couple more rs  accounts  to recycle into..when they finish...some you need to have a current account to access the saver..would prefer to  not have to..open...any recommendations appreciated...but will research what to open

Dazed_and_C0nfused

daz378 said:

I have a Santander monthly saver 5%..that will be ending in a couple of months...first direct monthly 7%..with about 5 months left...a regular moneybox saver only 3.8%...so will be looking to  open a couple more rs  accounts  to recycle into..when they finish...some you need to have a current account to access the saver..would prefer to  not have to..open...any recommendations appreciated...but will research what to open

Darlington BS might be an option.

Earlier this summer it had one you could fund with £250/month.   Getting 6.0% with no existing current account requirement.

Bobblehat

daz378 said:

I have a Santander monthly saver 5%..that will be ending in a couple of months...first direct monthly 7%..with about 5 months left...a regular moneybox saver only 3.8%...so will be looking to  open a couple more rs  accounts  to recycle into..when they finish...some you need to have a current account to access the saver..would prefer to  not have to..open...any recommendations appreciated...but will research what to open

I think the Moneybox Saver at 3.8% is an Easy Access account,  rather than a RS so I've put you in the table as holding 2. Let me know if that's right?

Bridlington1's tables on page 1 of the main RS thread will show if there is a requirement to open a qualifying account first, in order to open a RS. The Darlington one Dazed_and_C0nfused mentioned is probably the easiest high rate one to open, unless you happen to have a current account with some of the RS's nearer the top, or fancy a postal one. 

daz378

Yes moneybox is easy access...found the mse  table of  regular saver accounts...might open another current account to access another regular saver...also got a s&s isa and cash isa with moneybox...thanks for info