Skipton BS - Member Regular Saver

lr1277

I see the the current Member Regular Saver offered by Skipton BS says you need to have been a member on or before 10th November 2025.

Do you have any idea how often this date is updated and by what time period? I am wondering how long I need to have been a member before I can open this member regular saver.

When I say I actually mean my mum. She has already opened the Nationwide Flex regular saver. I want to see if she is willing to open a 2nd regular saver.

Thanks.

surreysaver

It seems to be everytime they launch a new account which requires a certain length of membership.

Just open one of their easy access accounts for £1 to start your membership now, then you'll be ready the next time they launch a loyalty account

lr1277

Thanks @surreysaver

Mum opened the bonus saver last week. I am wondering whether to advise her to open another RS in late June or early July to help pay her tax bill in July 2027. This is on the basis the matured amount from the Nationwide RS can be used to pay her tax bill next January.

bioboybill

Skipton only allow one Regular Saver at a time.

lr1277

Thanks @bioboybill

I understand about the one RS account. When i said another RS, I meant she already has an RS with Nationwide and as she can't have 2 Nationwide RS's, I was wondering about opening her 2nd RS with Skipton.

I am trying to get a handle on how long does she have to be an existing member before she can open the Member Regular Saver: 3 months, 6 months, a year or another time period.

Sarahspangles

https://forums.moneysavingexpert.com/discussion/comment/81871930#Comment_81871930

Principality have recently been doing 6 month regular savers, with decent rates (current is 7.5%). No app, but the website works okay. We have those back-to-back and maybe you could get them to align with tax payments.

gpman

https://forums.moneysavingexpert.com/discussion/6654033/skipton-bs-member-regular-saver

I don't believe Skipton do update the date. Why would they? (save for any obvious error)

Rather I think the date is specific to the terms & conditions of the particular product on offer.

I believe the product you refer to was first launched on 11-Nov-2025. Previous Skipton member accounts have often had a similar short existing membership requirement, afaik.

There is no guessing, or at least I can't, as to when Skipton may launch a new member only savings product

Kim_13

https://forums.moneysavingexpert.com/discussion/comment/81871959#Comment_81871959

Skipton’s Member Regular Savers have thus far been restricted to those who were a member on the day before the current issue launched. In respect of the current issue that is 10th November 2025. There is no override that will allow applications from those with six months membership or anything like that. The best thing to do is to open a Bonus Saver with £1 now and wait for a new issue to launch that she will meet the criteria for. The previous version was January 2025 I believe. Keep the oldest account open with £1 and she will qualify for everything going forward.

Skipton only allow access to the funds via early closure, so she may wish to open another Regular Saver that like Nationwide’s, allows withdrawals. E.g. Zopa, Co-op, Virgin Money, NatWest. All of those require a current account, but the NatWest account never matures and pays the same as the Regular Saver Skipton have that is open to everyone.

To add, Skipton tend to only launch a new Regular Saver issue when they need to change something. I’m not sure when Member Issue 1 was but Member Issue 2 launched on 1 June 2023 with a cut off of 31 May, at 7.5%. Issue 3 (January 2024) was 7% fixed, before they moved to base rate linking in January 2025. The reason for the November 2025 launch was because the January versions had allowed a Regular Saver and a Member Regular Saver to be held concurrently if opened in the right order. I suspect the next will come when they either want to change the margin they add to the base rate, or want to return to fixed rate.

lr1277

Thanks @Sarahspangles that is worth considering. I will put it to mum.

Thanks @surreysaver, @gpman and @kim_13 it looks like we will have to wait until there is another version of the member regular saver issued, whenever that may be and then make a decision if it is worth saving money in it.

Runner_Duck

Does it have to be Skipton BS? I fund my Principality BS Reg Saver from my current account with another bank.

lr1277

https://forums.moneysavingexpert.com/discussion/comment/81872181#Comment_81872181

Possibly not. But the Skipton BS rates for both the RS and member RS are not too shabby. There is a branch near by and so far the customer service on the phone has been fine.

If I am advising mum I am looking for good customer service and ease of retrieving money. That also means no app based accounts. I am not looking for every last penny of interest. Admittedly these are my biases, but I do run her financial affairs with her consent and usually with her sitting next to me as I take each action. I am also looking for something she can manage if I am not available.