The Top Regular Savers Discussion Thread

Section62

dcs34 said: I've scoured through most of the BSs websites to open their lowest deposit (~£5), non-ISA, viewable online, easy access accounts. This resulted in a few leftover oddities which I figure might (1) be of interest to some on here doing a similar exercise, or (2) prompt someone to tell me something I've overlooked!

Suffolk BS - minimum deposit is £100 for online E/A accounts

The Suffolk BS Branch EA account (can be opened by post as well) has a minimum deposit of £10 and can be viewed online.

Cambridge BS - minimum deposit is £100 for online E/A accounts

The minimum deposit for Cambridge BS maturity accounts is usually £1. This is one of the maturity accounts worth keeping hold of once you've got one. Arguably worth opening the poorer paying RS account (5% currently) and giving it minimal funding (£100) in order to generate a £1 minimum EA maturity account after 12 months. (Edit: see kermchem's following post)

kermchem

Dragging back towards topic - I could not find a Cambridge BS RS account that is currently open to non-members. The 5% account requires 12 months membership.

dcs34

https://forums.moneysavingexpert.com/discussion/comment/82011133#Comment_82011133

Thanks @Section62 - for SuffolkBS do you mean the Everyday Saver (as I can't see a 'Branch EA' account): https://www.suffolkbuildingsociety.co.uk/savings-products/everyday-saver-2/

I had assumed it couldn't be managed/viewed online as their key details include:

• You’re happy to manage your account in branch, on the telephone, and by post

Whereas the Online 30 Day Notice includes reference to online management. Although now it appears that account is no longer available!

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/82010916#Comment_82010916

Think you mean Standing Order, not direct debit?

Section62

https://forums.moneysavingexpert.com/discussion/comment/82011357#Comment_82011357

That's the one, but it is read-only viewing online, there is no management of the account available. But TBH as an account to earn membership years for eligibility for prospective special regular saver accounts then the amount of management needed is minimal.

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82011115#Comment_82011115

Cambridge BS- For those under 21 you can open a First Account with £1, that's what I did, it then matures into a maturity account (I appreciate it shan't be applicable for most).

Marsden BS- You could open their Branch EA account with £25 if you fancy a day out

Suffolk BS- Could use their RSs and bung £10 in it, though they do close the account shortly after it matures so you'd be banking on their RSs existing with the same minimum balance.

Vernon BS- Balance doesn't have to stay at £100, I withdrew my EA account to 1p as there's no minimum balance to operate the account

HRBS- Can open EA account with £1 by post, if opening for membership purposes then admin is going to be very minimal.

Loughborough BS- I seem to recall they accept scanned and emailed application forms for their savings accounts, branch/post management but again if opening for membership purposes then admin is going to be very minimal.

Digital_Payback

https://forums.moneysavingexpert.com/discussion/comment/82011412#Comment_82011412

Indeed. Now corrected in the original post.

CricketLady

Good afternoon!

Regarding First Direct 7% regular saver…

Mr. Cricket's RS matured on the 25th of April and we applied to open a new one, there were a few glitches but the account opened and his first payment went on the 30th, with the next payment date scheduled for the 30th May.

Can anyone please tell me what will happen when the 30th of the month happens to be a Sunday, and also how it will cope in February?! 😄 Actually, on reflection, will his payment go this month as the 30th is Saturday… 🙄

Thanks so much, a virtual ice cream to you all

x

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82012021#Comment_82012021

First Direct
The SO will be taken on the next working day and 1st of March.

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/82012021#Comment_82012021

The standing order will be sent on the next working day.

The account month with First Direct's regular saver starts on the monthlyversary of when the account was opened, as opposed to the first of the month with most other regular savers