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

nigelholl2

I only have 10, but only started in August, current cut-off @ 6%, with the exception of 2 Nwest DigRS's, as these are open ended term, so when full will generate over £20 each per month.
August next year there will be circa £25k circulating around
I need to wait a bit now to start spreading the maturity dates, but the two Principality ones will start that process.
As many have said, it is addictive, and keeping up with this thread needs to be a daily task, otherwise, that's another 30mins gone just catching up on posts.
Just started looking at Current Acc switching, so that will be the next move
I don't post a lot, as someone else has usually made the same point, but I do really appreciate all the work that people put in to this thread

Hattie627

nigelholl2 said:

I only have 10, but only started in August, current cut-off @ 6%, with the exception of 2 Nwest DigRS's, as these are open ended term, so when full will generate over £20 each per month.
August next year there will be circa £25k circulating around
I need to wait a bit now to start spreading the maturity dates, but the two Principality ones will start that process.
As many have said, it is addictive, and keeping up with this thread needs to be a daily task, otherwise, that's another 30mins gone just catching up on posts.
Just started looking at Current Acc switching, so that will be the next move
I don't post a lot, as someone else has usually made the same point, but I do really appreciate all the work that people put in to this thread

Current account switching can be very lucrative (and tax-free). Done with care, organisation and persistence it can net you more than a basketful of RS's. Unfortunately it doesn't last forever and you will sooner or later run out of switches for which you qualify. Definitely worth doing while it lasts, though.  I've more or less done them all, started with a switch of a RBS current account to Clydesdale Bank around 2014. I don't often qualify now but ever hopeful.

Reg_Smeeton

I think twelve is the sweet spot as far as I’m concerned, one maturing per calendar month rolling into whatever is the best available “new” RS at the time

jaypers

Some impressive numbers on here. I must try harder!

OrangeBlueGreen

fabsaver said:

The latest count tells me I currently have 62 

It's addictive.

Wow! (and my 5 felt a lot to me!)

BikingBud

At the moment none as I am abusing the best regular saver, Sal sac into pension.

But I have a small window between retiring and SPA where I will be looking to draw down set up my own "Whirlpool" or is the best collective noun a "Constellation"?

vacheron

I have one, and that is already at it's higher interest cap, so I draw my standing order payment out each month anyway.

With all the financial products I am already juggling, I just haven't got the inclination to add another 5-10 (or even 62 ) additional accounts that I need to keep track of. 

Also, having had a 6% NS&I taxable bond that has just paid out £960 in interest I would end up taking a 40% tax hit on the headline rate (and potentially a £500 PSA clawback) if my taxable interest income rose any further.

Due to this, my fixed ISA's paying around 5% work out better for me at present.  

trickydicky14

If you have the cash to service large numbers of RS’s you start to see your average % return start to go down. Even with limitless cash the 8,7 and 6% savers get mopped up so you then need to lower your targets and look at the ones around 5%. The thing is, 5% is still an improvement on almost all the current easy access accounts. It’s just about knowing when the return is no longer worth it.

Brie

I had a few about 10 years back but currently have zero as I am managing my money in a way that suits me better.

MSE_Petar

Down to two now, though have had up to half a dozen previously (nowhere near as dedicated as some others in this thread!)