The Top Regular Savers Discussion Thread

Cweb

https://forums.moneysavingexpert.com/discussion/comment/82043115#Comment_82043115

Seems to be working fine.

The key is not to log in while applying through the website, so NO to online banking and go down the route of 'New to Lloyds bank'. Even with requiring a Club Lloyds account for the Club Lloyds Regular saver this appears to be a valid routing the system will send you. When filling in your details ensure you use those already associated with your Lloyds account and once accepted, the new account will appear in your current profile.

https://www.lloydsbank.com/savings.html

BestSeagull

https://forums.moneysavingexpert.com/discussion/comment/82047220#Comment_82047220

Thanks for posting your findings. I have to say though that after reading @Bridlington1 's tale of being debanked by LBG, I wouldn't take any chances with any of their accounts.

Here's the thread for anyone not aware.

https://forums.moneysavingexpert.com/discussion/6433933/lbg-closing-all-my-accounts-on-18th-may

edinburgher

Hi folks - wonder if I might seek the wisdom of the collective?

I'm trying to use RS to juice our savings returns as best I can but I'm not sure I'm being very strategic about it. My current thoughts are:

1. Make sure we don't get taxed (max £1,000 interest for my wife, £500 for me).
2. Beat our existing savings rates (approximately 4.19% from cash ISAs)

There is clearly a bit of administrative effort and clutter involved, however, and I'm wondering what is collectively considered reasonable in terms of RS rates? We're currently ranging from 5.5%-8%. We're more of an investing household than a cash household, so this is still new to me.

Aside from tax, keeping an eye on best buy tables, being quick to apply, and keeping on top of the admin, are there any other obvious factors to consider?

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82047264#Comment_82047264

Got to agree. Don't mind a bit of a hack to get around an annoying unintended restriction but this is in clear breach of Lloyds (new) Terms

You can only have either 1 Monthly Saver or Club Lloyds Monthly Saver account, held either in your sole name or jointly but not both.

Hope you don't have too much reliance on Lloyds for your other banking……

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/82047273#Comment_82047273

Why don't you want to get taxed? If you earn more after tax than you would putting your savings elsewhere, such as an ISA, why avoid tax?

You should use the net figure to work out where your money best serves you.

10_66

https://forums.moneysavingexpert.com/discussion/comment/82047174#Comment_82047174

This always happens to me too. Because of that, I don't even bother with 'Sandi' anymore, I call instead.

edinburgher

https://forums.moneysavingexpert.com/discussion/comment/82047344#Comment_82047344

I pay higher rate tax, so I'm unlikely to find RS that make it worthwhile paying tax on them. I understand this may be different for my wife, as she pays basic rate tax.

solartom

Re Dudley BS RS 1225 5.50 %

Sent e mail yeterday at about noon with application. Just recieved letter confirming account opening.Consdering the postal service around here that is very speedy. So, happy might be in with a shout to open the Member RS if/when it shows.

subjecttocontract

https://forums.moneysavingexpert.com/discussion/comment/82047351#Comment_82047351

I used 'Sandi' yesterday and it was completely straightforward. Close account, will be done in 5 working days, I'm happy. I'll be using Sandi again later today to close an account for my wife. I expect it to be as smooth as silk.😁😁

mon3ysav3r

https://forums.moneysavingexpert.com/discussion/comment/82047407#Comment_82047407

You might get a courtesy phone call from Dudley, mine went to voice mail, but it seems from the message it is just a chat to see they can help further, I have had phone calls from them before when opening new accounts.