The Top Regular Savers Discussion Thread

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/81976903#Comment_81976903

Yes, confirmed with them when I opened mine the £500 rule overrides the previous £250 that applied when I opened my 5.8% one

clairec666

Back to First Direct, if anyone's interested for future reference….

Maturity date 23/4. Already opened a savings account because others here said it speeded up the maturity process. Regular saver disappeared from the app 22/4, applied for a new one. Matured funds didn't show up until 24/4, at which point I bunged £300 in the current account ready for the new regular saver. Within a couple of hours the new RS had appeared and £300 transferred from the current account, meaning my new monthiversary is a day later than the original account.

Today (25/4), I receive a text and email telling me that my new account is open and will be showing in the app "within the next 48 hours". They're a bit behind the times there!

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/81975566#Comment_81975566

Certainly 'normal' with my maturity and renewing my 1st Direct RS in February this year. Previously, I was told of my up and coming maturity via email and the process at maturity of fund being transerfered to EA account etc which actually happened, but not this year. Imagine if all providers of RSs did this? Fortunately, I have a notebook on my desk that I refer to for all my RS maturity dates for the forthcoming year as a fail safe.

jd84

https://forums.moneysavingexpert.com/discussion/comment/81973833#Comment_81973833

You don't have to replace it on the same day, that's only to avoid further charges.

The benefit is for people who want (or need) to temporarily borrow money. They don't have to lend money to you. You are also free to decline it, or reduce the amount.

You only have to pay charges on anything borrowed over the interest free £250

Andystriker

No Posts for four days👀

Has everyone left me here on my own??

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/81982204#Comment_81982204

It's been a very quiet month on the RS front this month, it's worked out rather well as I've been house hunting and buying a property this month so have been a bit busier than usual so a quiet RS month is at about as ideal a time as it could be for me.

I'll do my usual RS monthly update later today though and formally launch a new spreadsheet.

BOE base rate decision is also today, if there's a change (up or down), I'll create a list of RS rate changes.

MisterMotivated

Everyone's keeping a low profile to let you focus on buying a house. I never knew you had such an influence on the UK banking sector 😆

Hope everything goes well with the purchase and the move, and that you're very happy in your new home.

clairec666

I'm in the same boat as you Bridlington, I'm hoping my property purchase will go through within the next month, so a lot of my regular savers are going to be emptied. I'm glad there haven't been any good new accounts on offer of late - for the last couple of years it's been second nature to snap up anything decent over 6%. It's also very frustrating to see some amazing fixed rate ISAs available when it's the last thing I need right now!

Hope the house hunt goes well for you.

s71hj

https://forums.moneysavingexpert.com/discussion/comment/81982243#Comment_81982243

Fingers crossed for you you got in there before mortgage rates started rising

Bridlington1

BOE Base Rate has been held at 3.75%, 8 voted to hold, one voted for an increase to 4%. Thresholds for this thread remain under review.