Regular Savings Accounts Article Discussion

Vortigern

Sue_MT wrote: »

HELP . My father is 84 and has about £13,000 in an Isa. He basically, withdraws money each year to pay for a holiday. The ISA is only going to be paying 0.2% by the end of this month. Can anyone recommend a better savings account for him?

"Regular" Savings accounts are no good for lump sums.

There's a link at the top of this page for "Best Savings Accounts"

Or follow the link below


https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/?_ga=2.36993320.905115720.1574639140-882838197.1571858694

gozaimasu

Yeah he can easily get 1.3% in another ISA, what he could do is start paying £250-£500 into a Reg Saver and keep the rest in the ISA. Unless keeping the tax free wrapper of the ISA is essential.

uptdale

A heads-up for anyone looking for the thread on the Coventry BS Regular Saver account. It's here:

https://forums.moneysavingexpert.com/discussion/6067557/coventry-bs-regular-saver

ecuyetx

Missing from the list on the site, Santander are paying 3.00% on their regular saver. I think you need to have a 123 account, but that beats all the others on the site from what I can see.
Tony E.

IanManc

ecuyetx wrote: »

Missing from the list on the site, Santander are paying 3.00% on their regular saver. I think you need to have a 123 account, but that beats all the others on the site from what I can see.
Tony E.

The Santander Regular Saver Issue 8 which is currently available to 123 customers pays 2.5% not 3%.

veryintrigued

For all your RS chit chat.

Let's make SS2 fantastic job, each week on their thread, a little easier eh?

schiff

You'll need to define chit chat. And you've hundreds, possibly thousands, of anonymous members to maintain some sort of control over, which won't be easy. Personally I check those threads two or three times  a day and to get the extremely (to me) useful info about Monmouthshire, Virgin store 16 and the new Virgin online 16, Furness, Nottingham, etc well worth the extra seconds reading or passing over posts about RSs that I don't have or have chosen not to have. 

veryintrigued

schiff said:

You'll need to define chit chat. And you've hundreds, possibly thousands, of anonymous members to maintain some sort of control over, which won't be easy. Personally I check those threads two or three times  a day and to get the extremely (to me) useful info about Monmouthshire, Virgin store 16 and the new Virgin online 16, Furness, Nottingham, etc well worth the extra seconds reading or passing over posts about RSs that I don't have or have chosen not to have. 

SS2 is a patient soul but I'd reckon leave their thread to identifying new issues or changes of rates to issues currently listed within their thread.

The change to the new forum (with lack of the ability to create subtitles) means that it's even more difficult to identify what product forumites are discussing. For that reason a dedicated thread or clearly defined entry on here if members want to discuss the merits of putting stamps on envelopes etc might make the efforts of SS2 less onurous - especially in these times of lots of flux.

Anyway - doubt many care that much.

colsten

Talking about Monmouthshire: I received a passbook today, and a letter saying my Saver Plus - which I had applied for on April 6 - was now open.  I had managed to deposit £1,000 on April 16th by bank transfer. I don't know whether they thought I wasn't in any hurry as I had already made my opening deposit or whether this is their normal processing time at present. It is, however, clear that the Monmouthshire 'online' application process involves

1. returning your signature on a form they post to you,  even if they already do have your signature on file for other accounts
2. Monmouthshire processing your signature form and manually opening your account for deposits

Not impressed with the cumbersome account opening process. It isn't the SARS-CoV-2 virus which created it!
Pleased to have this account open now, though.

afis1904

If it's your first account with them this whole process also includes having to wait for your online access code (and includes getting a booklet for almost every account on sale).