The Top Regular Savers Discussion Thread

Slinky

I'm wondering if Zopa is going the way of Chase, which used to have good rates but not any more.

I opened an account and got the 7.1% RS for my OH last week. I was also hoping to get him the 1.5% extra bonus on the savings pots that I currently have as I'm trying to find ways of getting monthly interest for him to full up his £1K tax free allowance this year, previous years he's been a higher rate tax payer, but that's not on offer any more either.

MisterMotivated

https://forums.moneysavingexpert.com/discussion/comment/82109999#Comment_82109999

Mainly because those accounts mature over the weekend, meaning the money will then be stuck in a 1.1% account until the next working day. Based on where I'll be sending it, I'm losing 63p per day in interest by closing early but that's better than what I'd lose waiting to access the money next week

mhoc

What is the problem with Zopa?

OHs Zopa regular saver matured a few days ago - on android and such a huge faff to find the place on the updated app to reopen the regular saver. Also to withdraw even with the help from this group - so much so I wondered even if it was worth the effort of continuing with Zopa but it was managed eventually.

My Zopa regular saver matured yesterday - iphone and I renewed with no effort last night

Has Zopa gone NLA since yesterday?

DodgerPot

https://forums.moneysavingexpert.com/discussion/comment/82109999#Comment_82109999

Monmouthshire App Exclusive RS

Mine matures tomorrow (Saturday) with £12000 plus interest so I actioned account closure for today so it doesn’t sit in a low earning Easy Saver all weekend. I can place it into various 5% and then use to feed next months batch of regular savers.

It hasn’t arrived yet into my nominated account but wasn’t expecting it to have done this early.
while I was on the Monmouthshire website I closed a couple of dormant easy access empty accounts to tidy up a little

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82110072#Comment_82110072

Post upthread says that advice from Zopa CS is that the 7.1% RS has been withdrawn but the apps have yet to catch up with the news.

Anyone opened one today?

DodgerPot

Zopa

I’m still seeing the 7.1% regular saver advertised on their website.
Granted I already have an ongoing RS so it may be an issue for those needing to restart a matured one.

I’ve liked Zopa and used them regularly for several years when their rates have been competitive hoping they don’t go as chase has done for me a nearly empty unused chase account.
(I’m actually looking for a new cash isa transfer home for September and am considering Zopa 1yr fixed …..apologies off topic)

Nick_C

My Monmouthshire RS App Exclusive Iss 1 matures tomorrow (Saturday). Balance £12k.

Am I right in thinking I should withdraw £11999 today, and close the account on Monday?

DodgerPot

https://forums.moneysavingexpert.com/discussion/comment/82110102#Comment_82110102

I considered doing that but chose the option to just close down today and then redistribute the whole sum into my 5% accounts

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82110105#Comment_82110105

Either should be fine, I emptied mine yesterday and will collect the interest when it eventually arrives.

friolento

https://forums.moneysavingexpert.com/discussion/comment/82110000#Comment_82110000

I half suspect that the alleged demise of the Zopa 7.1% RS never actually happened, and that it was just a badly informed CS person giving out incorrect information.

Off-topic but since you mentioned the Zopa easy access savings account: there are at least 3 EA accounts which pay better - Spring, Saga, First Active.