The Top Regular Savers Discussion Thread

fuzzzzy

West Brom

I closed my Winter Ready Savings Account on Monday 2 Nov which had matured into an easy access account paying 2.1%. As it was after 3pm and I would have to wait 2 days for it to get to my nominated account I decided to send the balance to another West Brom account (4.22%) from which I intended to also withdraw some monthly interest I had forgotten about.

I was surprised that the internal transfer also took 2 days and I lost a days interest in the process. It is only 6p so I am not bothered about it, but just surprised you can lose a days interest on an internal transfer. I was paid 3 days closing interest (31 Oct, 1 Nov, 2 Nov) so it looks like the transfer/closure was not actioned until 3 Nov with the funds landing in my other West Brom account on 4 Nov, so no interest for 3 Nov.

You do lose a days interest with lots of banks / BSs when you do an external transfer but I have not encountered it with an internal transfer before.

Ed-1

A change from 3.35% to 3.5% is apparently a "decrease".

happybagger

https://forums.moneysavingexpert.com/discussion/comment/82193250#Comment_82193250

I don't. I have family that do.

But I was making the point that such restrictions are nonsense. If you live next door to the branch or 80 miles away on the west coast of Wales you can open it online or in branch. but if you live just 5 miles away from the same branch you MUST visit the branch.

KneadtheDough

https://forums.moneysavingexpert.com/discussion/comment/82193216#Comment_82193216

Furness new 5% RS

Underwhelmed by the rate itself.

trickydicky14

https://forums.moneysavingexpert.com/discussion/comment/82193219#Comment_82193219

I don't have the app so it was online.

GetRichOrDieSaving

Furness Summer RS

If anyone gets wind of the 5.5% increasing with the BOE increase can you please post on here. If it doesn’t I’ll be withdrawing my funds. TIA

PixelPound

https://forums.moneysavingexpert.com/discussion/comment/82193407#Comment_82193407

Anyone had notice of RS's going up?

GetRichOrDieSaving

https://forums.moneysavingexpert.com/discussion/comment/82193407#Comment_82193407

Shocking, although I wouldn’t have gone close to it due to the original rate anyway….

Pickledonionlover

https://forums.moneysavingexpert.com/discussion/comment/82193461#Comment_82193461

Furness 5% loyalty RS

Likewise here - I'll be taking the funds and depositing them in an easy access at the same rate.

Unless they rejig their rate to closer to 5.5 in the next few days.

kaMelo

https://forums.moneysavingexpert.com/discussion/comment/82193216#Comment_82193216

I'm going to open one. We've had 22 regular savers between us mature over the last two months, (including two MonBS £1000 p/m 7% RS) and have had far fewer new accounts opened to replace them. As a result we're a bit cash rich at the moment.

5% is better than Cahoot's 4.52% and a withdrawal/closure is possible so If I run short I'll withdraw to fund higher paying regular savers. If I don't run short I'll probably close it in March next year to avoid the hiked tax rates.