The Top Regular Savers Discussion Thread

Poor_Leno

https://www.bankofscotland.co.uk/savings/accounts/monthly-saver.html

Interestingly, while this page says you need a current account to open the BOS 8% monthly saver in those three bullet points at the top, it seems not. I noticed near the foot of the page, headed by "Open a monthly saver" it said and to quote the text here ;

Apply online

Whether you're an existing customer or not, you can apply on our website.

So, I went ahead to try and open it, stating that I did not already have a BOS account and, voila, it opened successfully. Perhaps this has already been noted, but MSE doesn't currently have it listed as "open to all", when it is, albeit only by online application, whereas I think you do need the current account to open in a branch or phone, but managing it online is good enough for me and probably most people, so anyone in need of an 8% regular saver should check it out for sure! I might still grab the switch bonus later on with them too and actually open a current account, but wanted to get the saver opened in case they pull it soon enough, as it looks like their switch is a bit of a faff with needing 3 DDs active from the account being switched from.

Seems also, it will let me deposit now, and then again on 1st by standing order from another account, so you can choose whenever you like to pay into it just as long as its not more than 250 in a calendar month, same as the Nationwide flex saver basically, so it will be possible to make 13 deposits.. not that it will accrue much more interest, I just like accounts where you can double up what you put into it within a few days, and save that bit more.

fuzzzzy

https://forums.moneysavingexpert.com/discussion/comment/82082700#Comment_82082700

But you will only be able to withdraw to a BoS account?

As far as I can see the monthly saver will convert to an instant access savings account after 12 months but it is not clear if you can make withdrawals to an external account from this account. Anyone know?

Kim_13

Tipton 125 Anniversary

Also went via the contact us route asking if it was possible to open without a branch visit and have received funding details, although nothing showing in my app yet. Was told that a passbook will be posted out once funded.

The account has just failed COP, so my question is to those who have already funded, does it work the next day? Wouldn’t mind overriding with £1 but I entered £125 on the application form. If COP works the next day, does it work on first name, last name (which is what NatWest ask for.) The funding details gave payee name as Title, First Initial, Middle Initial, Surname. If the latter payee name is required for a match, can I safely send via an account that will run COP against that format (Chase will I think.) NatWest is the nominated account against the Tipton account that allowed me to qualify to open this RS from outside their postcode areas.

Didn’t want to take up their time asking if MSErs had the answers - plus potentially useful information for others.

Thanks

fonesaver

https://forums.moneysavingexpert.com/discussion/comment/82082739#Comment_82082739

Yes you can make withdrawals to external accounts

snookerloopy96

https://forums.moneysavingexpert.com/discussion/comment/82082771#Comment_82082771

I visited the Coseley branch to open mine, didn't fund it for a day or two.

Had no problems with COP that I can remember, nor anything odd with inputting my details, did mine from Nationwide.

Middle_of_the_Road

https://forums.moneysavingexpert.com/discussion/comment/82082739#Comment_82082739

At Lloyds you apparently can, which I didn't know. Presumably the same at BOS.

Pickledonionlover

https://forums.moneysavingexpert.com/discussion/comment/82082232#Comment_82082232

Money received into external account in the last two hours. That's from initiating it on Sat via app and Sun from website - unsure which worked.

Website lagging behind showing old balance

No sign of new RS8 opened on Sat on app or website.

It'll happen but just to warn others

surreysaver

https://forums.moneysavingexpert.com/discussion/comment/82082404#Comment_82082404

No maximum balance in the T&Cs. It wouldn't make sense either, as the account lasts over 12 months

dcs34

https://forums.moneysavingexpert.com/discussion/comment/82082771#Comment_82082771

I had COP match the same day albeit the account appeared in the app early morning and I made the payment in the early evening.

To get COP to match in NatWest I just put my first initial, surname and the account details. It then suggested a 'correction' to "Mr X" as the first name IIRC, which I accepted and the payment went through (and appeared in the T&C app when I checked later that evening.

Basically as far as I can tell, if you can get COP to match, the payment will go through. No one at NatWest is checking that your entry for 'first name' is a legitimate first name or matches the first name on your NatWest account; only that it matches the recorded 'first name' of the receiving bank account with T&C BS. I wouldn't get too het-up about how the banks label each part of it (i.e. what NatWest call 'first name' can be T&C's 'first initial'; not all of your NatWest payees which are to yourself have to put your name into the exact same format).

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82082771#Comment_82082771

Tipton 125

I received my passbook next day after I made deposit.

CoP didn't work straight away, but was working next morning.