The Top Regular Savers Discussion Thread

chris_the_bee

https://forums.moneysavingexpert.com/discussion/comment/82020671#Comment_82020671

Saffron

From their website:-

What is a member?

We define our 'members' as anyone who currently holds a personal savings account with the Society and has maintained a balance of at least £100 for 12 months or more. Members also include our mortgage customers with over £100 on loan. To be a full (voting) member, you also have to be over 18 years of age. Being a member gives you a number of rights within the Society.

avocado1988

https://forums.moneysavingexpert.com/discussion/comment/82020645#Comment_82020645

Ahh! That's good that you managed to apply for the 6% in the morning:) I'm just hoping they will respond to us and that they reopen the 6% one for applications again….haha yes I'm short term on the other hand in my experience (only 1 month into regular savers and was waiting for some lovely rates to drop but this one may have come and gone in a flash!)

I also remember you helping me out when getting started so thank you again:))

happybagger

Saffron may decide members for the purposes of offering products as those with £100, ie the same as is defined as a shareholding "voting member"

however a shareholding member of a society is determined by law as someone who holds a share of any value above £0

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/82020695#Comment_82020695

Based on that, I'll be requesting the proceeds from my matured members RS to be sent to my Saffron Variable term saving account. Then I'll be withdrawing anything above the £100, so that Saffrons records show a continuous £100 held between a remaining open and then a closed RS account waiting for September - using the £100 to transfer £50 across to a new members RS for 2 months before setting up a SO - A bit of a faff…..

This must be a recent change? I've only ever held £1 with Saffron since 2023 with the members loyalty RS having always be continuously available in June, and as far as I'm aware, there was never a clause in the Tcs regarding holding £100 for 12 months or more to be considered a member, only hold another account with them.

s71hj

https://forums.moneysavingexpert.com/discussion/comment/82020545#Comment_82020545

Well I just applied for me on a page I already had open in internet explorer but then when I refreshed for my wife's application it was page not found

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82020700#Comment_82020700

You're welcome😀

I didn't explain it well, I've made an attempt to apply for the 6% this morning, but couldn't because the product was no longer available😪 I'll call Teachers tomorrow and see what they say about my 6.5% application. I hope it got through to them, it will be sad to miss a decent RS especially at this time when RS market is on decline.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82020695#Comment_82020695

The question is whether a one-day drop below £100 will cancel the entitlement.

Bridlington1

For those who have applied, I can confirm Ts&Cs were archived for both Teachers BS RSs and shall be added to p1 of the archived thread in due course.

For now and owing to notifications (still) not working properly, please find them below, they shall also remain in the Recently NLA section of p1 of this thread until the end of the month:

Teachers BS Regular Saver for Teachers (issue 1)

Teachers BS REGULAR SAVER FOR EVERYONE (ISSUE 1)

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/82020644#Comment_82020644

Thanks for spotting this. Mine matures tomorrow, and I've already another account with Saffron, but maintained at a £10 minimum balance, so another £90 going into that tomorrow.

I'd be wary about opening a regular saver to maintain a minimum balance in case any future product has a restriction on the number of regular savers allowed though!

chris_the_bee

https://forums.moneysavingexpert.com/discussion/comment/82020774#Comment_82020774

Saffron

A Members Month Loyalty Saver has been issued every year since 2023. So if a new one was opened on the same day as the old matured, then the £100 members rule did not need to take effect.