The Top Regular Savers Discussion Thread

allegro120

https://forums.moneysavingexpert.com/discussion/comment/81943261#Comment_81943261

Most people use a spreadsheet. I currently have 179 accounts in mine, I don't include those automatically opened by banks on the maturity of regular savers; these are dormant and offer very low interest, so there’s no need to monitor them. It takes a bit of effort to set up, but it’s easy to manage once it’s up and running.

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/81943261#Comment_81943261

I have a spreadsheet, it's easier to manage than it sounds though, it's essentially repeating the same admin multiple times, each account listed on a table with regular savers also appearing on a separate and more detailed RS table (taking a similar format to the RS snapshots I post occasionally on the forum).

A lot of the accounts are EA accounts with £1 in case of future loyalty accounts so just sit there on a table doing nothing (I don't bother recording the interest rate in these cases), then regular savers are usually just a case of bung £x in per month and ignore till next month etc.

As ever with maintaining that many accounts you'll always end up with some accounts with minimal balances that build up so I just go through my spreadsheet every so often and have a spring clean (usually towards the end of the tax year), and clear out old payees on my current accounts as and when (usually monthly). I've been quite strict with the accounts cull this time and got rid of pretty much all of my EA accounts barring ones I'm keeping for membership purposes as I seldom use them.

I'm still going to be funding around 30 RSs on Wednesday but I seem to've reverted to consistently waking up naturally at around 3-4am now that the daylight hours have increased so should have plenty of time to feed them all before I start work at 7am.

Jazzking

Co Op

Does anyone else have any problems refreshing their CoOp RS? I sent a closure request on 23rd March and withdraw the balance. Got the interest credited on 26th (so shows they read the message) but the account is still open so I can't open a new one. Called up yesterday and spoke to someone who said he processed the account closure and I'll get a letter of confirmation in the post. Still showing online, even today… what's going on?!

clairec666

I winced when I saw that some of you have 100+ accounts…. then I glanced at my spreadsheet and realised I'm on row 94, so I'm not too far off. However this includes every account I've had over the past year, so lurking in there are some matured regular savers, current accounts I've switched out of, and some other accounts I don't use.

chris_the_bee

https://forums.moneysavingexpert.com/discussion/comment/81943745#Comment_81943745

It took 6 weeks, a complaint and compensation to get mine closed.

chris_the_bee

Nat West digital RS

If I make a withdrawal in excess of £150, can I pay it back in the same month and pay the normal monthly £150?

roked

https://forums.moneysavingexpert.com/discussion/comment/81943745#Comment_81943745

Yes I am in the exact same scenario as you, I requested on the 23rd too and its still open here. I got told it would be closed within 2 days when I request it, I called Friday and they simply said it will be closed as soon as possible. I wanted to open a new one before tomorrow, now I am just hoping I can open a new one before the new tax year….

s71hj

https://forums.moneysavingexpert.com/discussion/comment/81943805#Comment_81943805

I withdrew a couple of thousand recently from my own and my wife's (and same with RBS) and paid it back in the next day and it stayed in. That said the 2 transactions both show in the same day as the withdrawal was over a weekend.

roked

https://forums.moneysavingexpert.com/discussion/comment/81943805#Comment_81943805

People have reported recently of being blocked from doing this, only allowing the monthly limit to be redeposited. I accidently withdrew more last month but I redeposited it straight away and it let me, maybe there is now a time limit for how long you can do this that's less than the same month.

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/81943862#Comment_81943862

I've personally found since a huge hiccup a couple of months ago with both the NW&RBs RSs that wouldn't allow a return of funds in the same month and within 7 days, that 24 hours now seems to be fine for replacing borrowed funds.