The Top Regular Savers Discussion Thread

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/82027039#Comment_82027039

Nothing showing for me either and I sent my payments on the 5th. Allowing for 5-7 working days before Teachers have worked through the back log etc, I'm not too concerned at the moment.

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/82027789#Comment_82027789

There wasn't an alternative online account where funds from the 6% RS could be sent upon maturity, only postal accounts when I applied for the RS in January. The only easy access account they had then was also postal which defeated the object account.. I haven't checked Mansfield BS recently to see if they offer an online easy access to get around the maturity funds being sent out by cheque.

orange-juice

https://forums.moneysavingexpert.com/discussion/comment/82026952#Comment_82026952

Is anyone doing anything to 'maintain' their relationship/membership with Saffron, where the Member RS for 25/26 being your only account with them and maturing this month (for me anyway).

I opened a reg saver (3.9%) and deposited a £1 (as that's the min Skipton requires), but just came across this, and it seems I might need to up it to £100. Anyone else done the same, just in case? I've been a member for years with each previous reg savers rolling into the next version, but it seems quite easy 'to fall foul' now, due to this recent change?

PRAISETHESUN

https://forums.moneysavingexpert.com/discussion/comment/82028040#Comment_82028040

For most BSs I open accounts with I try to open an easy access savings account which I use to maintain my membership, independent of any RS accounts I hold. Saves any problems with BSs claiming I've lost continuous membership because of opening and closing accounts over time with gaps in between. Looking at their websites and both Saffron and Skipton look to offer easy access accounts which can be opened online for £1 minimum balance. Unsure how that correlates with membership of the society compared to being an existing customer though.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82027847#Comment_82027847

https://forums.moneysavingexpert.com/discussion/comment/82028040#Comment_82028040

Saffron

I went for Small Saver 3.9%. I thought that's the best option. Ended up with two of them. I opened the first one prior to Member's Month Loyalty maturity, instructed to put £1 in this SS and the rest to withdraw to nominated bank account. Instead they created another SS and put £1 there. I'm not going to fund the original one, they will close at some point anyway.

janusd

https://forums.moneysavingexpert.com/discussion/comment/82028040#Comment_82028040

don't get sucked into the myth that you need an account with a £100 balance to get access to the Saffron members rs - as previously posted, i was told by Saffron that an account open for at least 3 months should be sufficient… my EA account with them has a £10 balance and I will not be increasing it.

happybagger

Re. Saffron, I opened the (now NLA) instant access ISA at 4.5% when available as a membership retaining account, knowing I could part transfer out if it became uncompetitive.

My RS recently matured and nothing else of interest so just the ISA remains

Dizzycap

https://forums.moneysavingexpert.com/discussion/comment/82028040#Comment_82028040

Because of the £100 new clause, I decided to have £100 transferred to my Saffron RA account ready to make 2 manual payments to the new Members Loyalty RS in September. That way, I will keep continuous membership, even though I have been holding £1 in their EA account for 3 years. Let's hope the decision is worth it with a nice 8% interest rate in September, even though £50 isn't a considerable monthly contribution, it helps to compound interest earned with other maturities.

janusd

https://forums.moneysavingexpert.com/discussion/comment/82028166#Comment_82028166

there is no £100 new clause - "membership" and qualifying for any Loyalty RS are two different things… if you go to the Wayback Machine, the £100 mentioned on the members page has been there for years and has nothing to do with this RS - you just need to have an active savings/mortgage account (for a given period) with them to qualify.

i'm happily willing to "risk" losing out on £26 of interest in September 2027 by not holding more than a tenner with Saffron for the next few months - but if it helps you sleep easier at night to have £100 in an account with Saffron, then fine - but it is not, and I think never has been, a requirement in order to open the Loyalty Saver. 😴

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/82028201#Comment_82028201

We don't know what any clause is going to be yet. That might be a requirement, it might not.