The Top Regular Savers Discussion Thread

Bridlington1

One that appears to've slipped under the net:

Monmouthshire BS have launched a St David's Hospice Care Regular Saver at 6% variable (5% for you, plus an additional 1% paid directly to St David's Hospice).

£200/mth max, max balance of £2.4k, account lasts 1 year from date of first deposit, branch/agency opening only.

Major caveat: This account can be opened by St David's Hospice Care volunteers and colleagues only.

huw01

https://forums.moneysavingexpert.com/discussion/comment/81969470#Comment_81969470

5.5% is also my threshold going forward. Manchester BS being an exception due to the £500 limit and it being 2 years so the interest amount earned in the second year makes a difference

MisterMotivated

5.5% is my current threshold but I might consider 5% RS accounts from August onwards when my Monmouthshire App Only RS matures and gives me another £12,000+ to find a home for.

I'm considering clearing my mortgage when the current 1.89% 5-year fix is up next April, so I would rather keep the funds in relatively easy access accounts.

superleeds27

https://forums.moneysavingexpert.com/discussion/comment/81969507#Comment_81969507

I'm also thinking of the Manchester BS one too actually. What's the process like signing up, online system good?

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81969522#Comment_81969522

Manchester BS is a trading name of Newcastle BS so it uses a rebranded version of Newcastle's system, which is fine. I have a vague memory of a code in the post but otherwise quick and easy.

huw01

https://forums.moneysavingexpert.com/discussion/comment/81969522#Comment_81969522

Yes really good communication. Sms texts of updates to acc opening process and anytime you deposit you get a confirmation about an hour later stating deposit received and has been credited to the account.

You get one code through the post to complete the linking of your current account as the nominated account.

Can't fault them

superleeds27

https://forums.moneysavingexpert.com/discussion/comment/81969716#Comment_81969716

Thanks for the info. Will wait for my Chase account to be sorted first then take a look at this one!

allegro120

https://forums.moneysavingexpert.com/discussion/comment/81969522#Comment_81969522

Manchester

I can't remember in detail, but it was very quick and easy to open. Online system seems fine. They also send email and text confirmation when they receive the funds, so no need to login to check the arrival.

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/81969522#Comment_81969522

Very easy to apply with access code sent through the post after sign-up. Despositing and withdrawl easy with withdrawl requests actioned same day before 1pm & depositing email & SMS confirmation. Never had any issues with Manchester BS which is why I've stuck with them and renewed the Issue 1 RS for 2 years back in early March.

The interest will sure rack up on a nice chunk of change after a year with the max of £500 pm, so imho, it's well worth having.

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/81969470#Comment_81969470

"I don't do anything postal or in branch, physical banks and building societies are getting as rare as hen's teeth in my area." I think they are for the majority of us but there are certain areas where BSs for certain and for now, remain. When Mansfield BS offered a continuous RS @ 6% £500 a month, although the interest rate drops to 3.25% after the years annivserary, it was certainly an offer worth having at least for the year.

I too have been reluctant in the past with opening postal RSs but if there was a shift to higher interest rate RSs being offered by BSs for postal RS accounts only, would that stop anyone saving in RSs? Personally, I would adapt.