The Top Regular Savers Discussion Thread

avocado1988

https://forums.moneysavingexpert.com/discussion/comment/82060660#Comment_82060660

Thanks! So I suppose we could fund the maximum amount allowed until the point we find out that the rate drops/will be dropping and then close the account - and still be able to gain the 5.5%

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82060682#Comment_82060682

Indeed it is, although the General Ts&Cs state:

I recall this cropping up when Issue 1 was around and Beverley BS's position then was that if interest rates are reduced, you'd be able to close the account early and still get the bonus provided you'd paid in the required monthly amount and had made no withdrawals as the loss of the bonus would be considered a loss of interest in this instance.

https://forums.moneysavingexpert.com/discussion/comment/82060683#Comment_82060683

You are, but what I'm saying is that if you know the account's not going to be high enough for you to warrant funding in 2026, you could open the account with £10 and then not fund further so that the account remains open and you can decide whether to start fully funding it and get the bonus in 2027.

Alternatively you can review each January as you describe.

In my case I know I'm going to be purging accounts below 6% and possibly a bit higher than that in the near future so this account becomes purely a speculative one to open in case it comes in useful in 2027 onwards.

georged123

I already have a Santander 5% regular saver, do I need to close that to get the 8% or can I do both?

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82060775#Comment_82060775

You have to close your 5%. Can't have both.

ThePirates

https://forums.moneysavingexpert.com/discussion/comment/82060775#Comment_82060775

You need to close the 5% one first

Anagran

https://forums.moneysavingexpert.com/discussion/comment/82060775#Comment_82060775

You need to close the 5% one first before you can open the 8% one. I did this in the app and it was pretty quick and straightforward.

kermchem

Beverley BS RS issue 2

Remember, this is the 3rd smallest BS, only one branch, 20-ish staff. They were adventurous or different with issue 1, and they have come back with issue 2 on pretty much the same terms, but maximum monthly contribution is much higher. Remember that issue 1 went NLA within 4 days.

I am taking the view that since I am happy to fund issue 1 with £150 per month then I am going to be equally happy to fund with £650 per month, at least for a while. I think having two accounts will offer flexibility (edit - to decide which one to close) on future New Years Days.

dcs34

https://forums.moneysavingexpert.com/discussion/comment/82059791/

*At the third paragraph, "imrove" should be "improve".

Your membership of The Guild is temporarily suspended pending a further review.

/s

topyam

Beverley

Surely the being able to fund a mac of £500 a month is a great feature of this account??

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/82060836#Comment_82060836

Mansfield, Dudley and Monmouthshire also permit this without imposing terms that would pay well below average Easy Access rates for one mistake/withdrawal.