The Top Regular Savers Discussion Thread

Bob2000

https://forums.moneysavingexpert.com/discussion/comment/82058764#Comment_82058764

Doh! I stand corrected.

4th August then??

masonic

https://forums.moneysavingexpert.com/discussion/comment/82058819#Comment_82058819

Bingo

.....

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82058762#Comment_82058762

Was the current account opened instantly? I had been debating this one on the basis that I have login details (the Limited Edition Easy Access account, currently with £1 in) but never had a current account with them. Didn't want to apply for one (thereby excluding myself from a possible future switching offer) if it might take an age to be opened like my NatWest one did and the RS might be withdrawn before I could get them open.

Growingold

https://forums.moneysavingexpert.com/discussion/comment/82058851#Comment_82058851

Just be aware that Santander do a hard credit search when opening a current account even if you're an existing customer. Well they did for me. Something to be aware of if you're going to be applying for mortgage/credit in the near future.

Bob2000

https://forums.moneysavingexpert.com/discussion/comment/82058851#Comment_82058851

Well, for me anyway, it was all done in under 15 minutes. I actually didn't have any active accounts. Just logged in and went from there. When l did start the opening process for the current account and they asked me for funding information. l was upfront and told them the account was just for saving and put in the amount to fund the regular saver.

I don’t know if that's important, though.

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82058851#Comment_82058851

Not as good as a switch offer, but you can get £20 from Topcashback for opening a current account:

https://www.topcashback.co.uk/santander-everyday-current-account/

Bigwheels1111

Re Santander, I’m trying to keep my head down under their radar.

I don’t have a current account with them, only two old easy access accounts from when they had the best rates.

It let me open the 8% reg saver though.

Only time will tell.

JB50MSE

Like many, I prefer RSs with the fewest possible account requirements. However, for an 8% (variable) RS, I am prepared to comply with Santander's T&Cs, which were clarified to me verbally when I opened my new Santander Everyday current account and my Santander Regular Saver accounts by telephone, last week. I could see both accounts open online within a few minutes.

My guess is that Santander know well that lots of people try alternative routes to max their RSs, and they want to entice people to have and use a Santander current account. I've already had a Santander switch bonus and I don't need a new current account but I can always close this Santander current account after a year or so, unless Santander have another enticing offer. It does seem that more and more banks and building socs are making enticing offers to existing customers, and some only to longer term existing customers.

The T&Cs say, "You can have this account if you have a Santander current account (but not a 1I2I3 Mini account held in Trust), whether in your sole name or joint names." So if you have a joint Santander current account, both you and the other joint account holder can have sole Santander RS, one each.

The Santander staff member told me verbally that all payments into the RS must come from a Santander current account, although confusingly the T&Cs say can, not must, "You can transfer money into the account from your Santander current account. You can make any number of payments into the account, up to the maximum monthly deposit amount."

And more about payments, quoting from the Santander T&Cs, "No minimum monthly deposit. You don’t have to pay money into the account each month or pay in the same amount. A ‘month’ is calculated by the date that you open your account. For example if you open the account on the 16th of a month, your month will run from 16th of one month to the 15th of the next month."

So to keep things simple, I've set up SOs to pay into my Santander RS on the "monthiversary" of its opening, from my new free and very simple Santander Everyday current account, which I will feed from elsewhere a couple of days before the "monthiversary."

You might get away with payments in from other accounts but, personally, I don't want to risk the potential hassle of Santander closing my RS. I wonder how long it will remain at 8% but it seems to me currently worth keeping if it's >6% AER.

KneadtheDough

RBS / Natwest / Ulster & Bucks Regular Saver issues

And now, after stupidly trying to send my second payment to Bucks, RBS has decided to suspend ALL my online banking. It seems holding the payment for 72+ hours wasn't enough for them. I honestly don't have the energy right now to go through another 1-hour call like last time. Anyone else had this suspension nonsense?

nottsphil

https://forums.moneysavingexpert.com/discussion/comment/82059417#Comment_82059417

That's outrageous, and needs its own thread (in the Banking sub-forum).