The Top Regular Savers Discussion Thread

Joseph1215

https://forums.moneysavingexpert.com/discussion/comment/82061290#Comment_82061290

I read your comment that it was ONLY ONE payment a month just a few minutes after sending £10 to try it out. Rang to see if the same day would be all right, but NO. Never met this condition before. You'd think they'd want money. . .

JB50MSE

https://forums.moneysavingexpert.com/discussion/comment/82061365#Comment_82061365

Beverley BS RS Issue 2: I've now sent a secure message to Beverley BS to ask whether this means the 4.5% bonus is added/paid as SIMPLE interest on 31 Dec annually, or does the whole 1% plus 4.5% accrue daily so COMPOUND interest of 5.5% is added/paid on 31 Dec. It looked as if compound interest accrued when I read the T&Cs but now Hattie627 has pointed out "shows as 1%", I realize this important point is not entirely clear (well, not clear enough for me, anyway).

friolento

https://forums.moneysavingexpert.com/discussion/comment/82061473#Comment_82061473

You get both, the interest on December 31, and the bonus on Jan 1.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82061189#Comment_82061189

Beverley iss2

Brilliant! They've made the right decision for me. I was thinking about this last night and again this morning and if I can't make imminent decision I probably don't need it.

The conditions are awkward, which would've been ok if the rate was more attractive. If it was 7% I would've opened this account last night. For me, 5.5% doesn't really compensate for awkwardness this account brings, it's only 0.5% above my feeder account. According to MSE RS calculator, if I fund this account £500 p/m and close it in January I would gain £4, not a great loss.

thefrank

https://forums.moneysavingexpert.com/discussion/comment/82061583#Comment_82061583

Depositing £500 per month till December would have resulted in way more than £4 interests (providing you would have close it in January so as not to lose the bonus), if I were you I would do a better research (it's £2.29 monthly x 5 months on the first £500 + £2.29 monthly x 4 months on the second deposit and so on … you do the math and you should have interests around £34.35). The account gives the best results leaving the money all the next year of course when, starting the 1st January you earn full interests on what has been deposited already during 2026

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82061668#Comment_82061668

@allegro120's maths is correct.

£4 is (roughly) the amount you'll gain by putting £500 a month into Beverley instead of keeping it in their feeder account at 5%

thefrank

https://forums.moneysavingexpert.com/discussion/comment/82061675#Comment_82061675

There are two different kettle of fish, sorry I would never compare two different financial products this way. The feeder account doesn't offer me possibilities that I would have with the regular saver and vice-versa

Hattie627

https://forums.moneysavingexpert.com/discussion/comment/82061668#Comment_82061668

As long as the rate remains competitive and as long as you don't need to break into the account, the account will give excellent returns. With no end-date, your balance will keep increasing and it won't reset to zero at the end of a year's saving like most RS accounts; this will continue until such time as you choose to close and withdraw the whole balance. Great for saving for something big, or just to get a good return on your money. Unlike RBS/NatWest RS, there is no maximum balance for the interest rate. If account becomes uncompetitive in the market, it can be closed at the end of the year (similar to a fixed term bond).

masonic

https://forums.moneysavingexpert.com/discussion/comment/82061682#Comment_82061682

Regular Savers are just more restrictive versions of easy access accounts. If I had a choice between a 5.5% RS and 5.5% EA account, I don't see that there are any possibilities missed by opting for the EA.

thefrank

https://forums.moneysavingexpert.com/discussion/comment/82061700#Comment_82061700

The only problem is that at the moment I don't see any 5.5% EA account, but I accept a different vision. On this particular subject I've always thought in a different way compared with the majority of the forum, starting since the long months of the Principality saga :-)