The Top Regular Savers Discussion Thread

clairec666

Shhh, don't say anything in case Santander notice! Keep the full balance in there.

Does Santander show "pending interest" like some others do? If so, you can verify that you're getting 8% on the full balance.

Essex123

Many years ago there was a Santander First Home Saver account which paid way above market rates (IIRC 5% when general rates were 1-2%) had a low monthly subscription limit and a max balance of £50k.

The terms said if you paid in more than the monthly limit they “may” close or transfer the account. A few days before the interest was paid, I dropped £45k into the account and then waited to see whether the 5% interest was calculated on the full amount. It was, and this account was highly profitable for a number of years!

BRO1959

https://forums.moneysavingexpert.com/discussion/comment/82063376#Comment_82063376

Yes, but only matured today, so if it follows previous pattern it will be moved to my current account today or tomorrow, and the Regular Saver will reset from 0 at 8%. My list of standing orders shows that the next payment is due next month.

BRO1959

It doesn't say 'pending interest'. The interest has been credited to the account.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82063429#Comment_82063429

Not sure what you are fretting about, either the cash is earning 8% or it's going to get moved out to somewhere where you can arrange for it to be earning 4.5% with little effort.

Not exactly known for their speed of closing accounts, yer Santander.

Is the problem that you are keen to get the first £200 into the 8% saver?

BRO1959

https://forums.moneysavingexpert.com/discussion/comment/82063440#Comment_82063440

Not fretting, but possibly a little impatient! I've just found the letter re maturity in the banking app, dated 21st June, so before the 8% offer.

It says that funds are moved to current account 3 days after maturity, and a new Regular Saver starts. It does say that it pays 5%, but I think I will get 8%, as that's what it says on the account.

Standing order shows as not going out again until next month, so I don't know whether it will automatically be funded this month, whether I can pay in manually, or if I'll have to wait until the following month.

I'll try to work out what happened when the last one matured.

I'll possibly get the 8% on the existing balance for 3 days!

Section62

https://forums.moneysavingexpert.com/discussion/comment/82063444#Comment_82063444

I'll possibly get the 8% on the existing balance for 3 days!

Maybe, but the interest rate displayed by Santander can be a bit quirky… as an example showing 0% if you go over the £4k limit on the Edge Saver.

So it is possible you'll get the 8%, but don't go out on a spending spree until the interest has been paid. 😉

Bigwheels1111

https://forums.moneysavingexpert.com/discussion/comment/82063316#Comment_82063316

I've just called them, they took my bank details and ran a cop check, all is good now.

Set up and ready to go.

gt94sss2

https://forums.moneysavingexpert.com/discussion/comment/82063349#Comment_82063349

Personally, I would not bother with multiple withdrawals from Monmouthshire even if the sum involved is larger than a normal RS maturity.

Apart from the admin impact for the BS, the receiving bank will know the source of the incoming payment so I would not expect payments to be blocked

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82063600#Comment_82063600

I would have expected a major clearing bank (RBS/NatWest) to have heard of a 120 y.o. building society (Bucks).

MonBS is thirty years older, maybe someone's had time to update the block list.