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

Ch1ll1Phlakes

Bobblehat said:

I wonder if there are any closet RS enthusiasts browsing this forum that are too shy to contribute?

Unfortunately, I'm not expert enough with the forum's search facility to know how to search for them, but I'd never add in their past admissions anyway without their say so, as they can easily do it themselves here if they wished to play 

Sorry, I'm late to the party. Currently sitting on 16 in total (from 12 providers), though some end in the next month.

Had been trying to keep the number of providers I use on the low side, but as I've got into investing and used my ISA allowance in a S&S ISA, regular savers have become my main savings method. This time last year it was 9 from 6 providers so definitely is starting to become a bit of a hobby.

Bobblehat

Some more additions ...

n15h

ThePirates said:

@n15h I'd go Principality before Provincial
Higher rate and when you choose maturity options that allow you to have duplicate accounts you are quids in!
I'm on 4 Principally accounts now even thought the 'rules' suggest you can only have 1.

@ThePirates I wasn't aware that RSs have the maturity option that allows the funds to be transferred to another RS account with the same provider e.g., Principality - unless I've misread that. Or do you mean something else?

kermchem

n15h said:

ThePirates said:

@n15h I'd go Principality before Provincial
Higher rate and when you choose maturity options that allow you to have duplicate accounts you are quids in!
I'm on 4 Principally accounts now even thought the 'rules' suggest you can only have 1.

@ThePirates I wasn't aware that RSs have the maturity option that allows the funds to be transferred to another RS account with the same provider e.g., Principality - unless I've misread that. Or do you mean something else?

When Principality BS fixed term accounts end you can just let then evolve into an easy access account by doing nothing, but the maturity instructions usually offer you several options. These do differ between account. The 6 month RS, where if you have been adding £200 per month you will have £1200 plus interest, you can open a new 6 month RS with £200 and have the remainder sent to your nominated account / current account / other options. You keep the same account name and number for the "new" account, so it also simplifies making further deposits.

Zekko

I've recently applied for the Progressive Building Society 7% offering, so I now have 7 Regular Savers.

I'm currently cycling my cash emergency fund through them from an Easy Access account. I also look to make use of the S&S ISA annual allowance whilst maintaining a steady value of cash holdings through the year.

Catplan

I only have 22 RS, with 6750 per month funding, just over 31k running total, I do have 4 maturing this month, 3 or which I can definitely renew. One is the Principality Xmas account, whilst the maturity options do give me the chance to open a second 6M issue 4 I’ve never been successful in obtaining one. I always have a sent message which gets a positive reply initially but a follow up you can’t have more than one account…… you win some you lose some, might try for SBS online offering if rumours are true about launching next week

ThePirates

kermchem said:

n15h said:

ThePirates said:

@n15h I'd go Principality before Provincial
Higher rate and when you choose maturity options that allow you to have duplicate accounts you are quids in!
I'm on 4 Principally accounts now even thought the 'rules' suggest you can only have 1.

@ThePirates I wasn't aware that RSs have the maturity option that allows the funds to be transferred to another RS account with the same provider e.g., Principality - unless I've misread that. Or do you mean something else?

When Principality BS fixed term accounts end you can just let then evolve into an easy access account by doing nothing, but the maturity instructions usually offer you several options. These do differ between account. The 6 month RS, where if you have been adding £200 per month you will have £1200 plus interest, you can open a new 6 month RS with £200 and have the remainder sent to your nominated account / current account / other options. You keep the same account name and number for the "new" account, so it also simplifies making further deposits.

What he said! ☝️

DodgerPot

I’m a relative beginner in Regular Savings Accounts so low down the charts 
Really only just getting into “the hobby” this year 

As such I have 11 regular savers including a maxed out NatWest which I no longer fund. 

Monthly funding £4000 
into accounts with rates between 7.5%-6% 
funded from an easy access 4.46%

Not sure if I’ll add to my current collection 

UKX69

DodgerPot said:

I’m a relative beginner in Regular Savings Accounts so low down the charts 
Really only just getting into “the hobby” this year 

As such I have 11 regular savers including a maxed out NatWest which I no longer fund. 

Monthly funding £4000 
into accounts with rates between 7.5%-6% 
funded from an easy access 4.46%

Not sure if I’ll add to my current collection 

Just out of curiosity, what easy access account do you use?

UKX69

Bobblehat said:

I wonder if there are any closet RS enthusiasts browsing this forum that are too shy to contribute?

Unfortunately, I'm not expert enough with the forum's search facility to know how to search for them, but I'd never add in their past admissions anyway without their say so, as they can easily do it themselves here if they wished to play 

I’ll try to overcome my shyness and say 2 at the moment (Principality and Monmouth app 7%). Been sorting out my finances after many years of stock market investing. The time horizon is getting shorter, hence the move to safer alternatives.