The Top Regular Savers Discussion Thread

Chaykin

https://forums.moneysavingexpert.com/discussion/comment/82185537#Comment_82185537

Tembo - if you paid in Tuesday after 5:00 PM the money would only start earning interest from Wednesday onwards. Check on the app, when you go into the Regular Saver, for "Interest due" line. If you paid in the full £250.00 this is a bit over £0.05 daily interest so - at this particular moment your app should say "(£0.05 daily) £0.05" for 1 day's worth of interest. Tomorrow it should say "(£0.05 daily) £0.10" for 2 days' worth of interest and so on.

I opened my account on Monday morning and paid in straight away from HSBC via Open Banking. The payment cleared the same day and now I have three days' worth of interest and my app says "(£0.05 daily) £0.16" so all looks good to me. Also helped a family member open one the same day with a payment in from Lloyds - same story.

In my experience fastest method is manual paying in via Open Banking done in the morning or at least before 5:00 PM cut-off (from their T&Cs) - done on a working day.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82185876#Comment_82185876

That AI generated response is rather impressive, the bits I actually know about (OB running via PayUK's Faster Payment system) are right, rest of it sounds just as authoritative but as @surreysaver says, the sources would be good.

Bobblehat

Tembo …

Bizarrely, my Tembo RS shows a balance of £500, even though the transactions show a £250 deposit on Mon 26th and a pending Monthly collection of £250 on Thu 29th (today) (Processed within 2 working days). I interpret this as a DD for Mon 2nd Nov! It does report interest due as 16p.

I can't really follow the leftfield logic of Tembo's account reporting or their funding methods, but I am happy to take their 8% and go along with their requirements to get it 😀

dealyboy

https://forums.moneysavingexpert.com/discussion/comment/82185932#Comment_82185932

… the AI's answer is …

Good point on verifying sources! Here is the breakdown grounded in Tembo’s T&Cs and the underlying UK payment rails for anyone wanting the exact mechanics:

1. Daily Interest Accrual Rule (Tembo T&Cs Section 7): Tembo’s Terms & Conditions specify that payments into the Regular Saver are made via Open Banking / electronic transfer initiated in-app, and interest is calculated daily on the balance held. On £250 at 8% AER, that works out to £0.054 per day (£250 × 8% ÷ 365 days).

2. Faster Payments Settlement (PayUK / Open Banking PIS): Open Banking transfers trigger an instant Payment Initiation Service (PIS) order sent via PayUK’s Faster Payments network. When initiated on a working day before standard cut-off times (e.g., before 5:00 PM), Faster Payments settle into Tembo’s receiving clearing bank in seconds or minutes.

3. Same-Day Interest vs. 1-Day Lag: If funds physically hit the custodial bank before their daily cut-off, interest accrual starts that same day (yielding 5p on day 1, 10p on day 2). If initiated late in the afternoon, over a weekend, or during extra fraud/reconciliation checks, the money settles the next working day—hence why some people see a 1-day 'pending' lag while others get same-day interest.

HHUK

https://forums.moneysavingexpert.com/discussion/comment/82185942#Comment_82185942

Very surprising considering the summary box states The deposit limit resets each calendar month, irrespective of when you opened the account. 🤔

EDIT But having now checked, I find I am in exactly the same position!

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82185942#Comment_82185942

On Tembo topic. I only have experience with ISA Transfer in. There were many delays and other problems at the start, one of my transfers failed to show in the app for a day or two after the money disappeared from the donor account. Once I lost about a week of interest due to transaction delay, they paid compensation (which was higher than the interest I've lost) directly into my bank account. The last two transfers in (Dec 2026 and Feb this year) were very quick and without any issues.

I'm disappointed that I'm not qualified for this luxury RS😥, but that's the way it goes - you can't have everything you want😀 New customers only, loyalty only, post code restrictions, age restrictions, branch only etc. - can't fit into all categories.

Born2Save_3

Principality BS RS Account Closure when logged in

I've not done this for some time. The request can be made through the top of page menu options, does it usually involve some manual intervention by PBS staff ?

Born2Save_3

Tembo RS

Is there any way to avoid using open banking to both open and operate the account ?

Section62

https://forums.moneysavingexpert.com/discussion/comment/82186173#Comment_82186173

Principality

Yes, in effect it is the same as sending a message asking for account closure. In the past they've processed the request the next working day though. There's no online access to account information once it has been closed though, so make sure you get all the details you need before making the request.

gt94sss2

YBS Christmas Regular Saver 2026

Given that these accounts mature over this weekend, can I ask if others are planning to close them today or wait until Monday?