Regular Savings Accounts: The Best Currently Available List!

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  • KTF
    KTF Posts: 4,820 Forumite
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    Not a regular saver in the traditional sense but the Chip app mentioned in todays email could be seen as one in so far as:

    12 month 3% regular saver (up to 5% with referrals) with a max of £600 a month (£100 per day) through the manual top up. Anything it then automatically shuffles over is a bonus.

    Once you have registered, you can send it a few messages to up the amount it transfers from 'normal' to 'maximum' to make it transfer over as much as possible.
  • schiff
    schiff Posts: 20,099 Forumite
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    I wish people would include a heading in this multifarious thread that tells you what they are referring to. Unless it's a clear reply to what has immediately gone before. :)
  • Steve_xx
    Steve_xx Posts: 6,976 Forumite
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    KTF wrote: »
    Not a regular saver in the traditional sense but the Chip app mentioned in todays email could be seen as one in so far as:

    12 month 3% regular saver (up to 5% with referrals) with a max of £600 a month (£100 per day) through the manual top up. Anything it then automatically shuffles over is a bonus.

    Once you have registered, you can send it a few messages to up the amount it transfers from 'normal' to 'maximum' to make it transfer over as much as possible.

    Yes, the Chip app does look to be of interest. However, the issues surrounding the access it has to your accounts is a worry, ie you have to divulge login detail.

    Also, if it were to go bust there is a bit of a cloud as to how easy it would be to retrieve your funds. Or if the bank bank that Chip app uses to deposit funds into goes bust, then there's a further complexity.

    However, it could be useful for a Direct Debit in view of the impending Tesco problem.
  • schiff
    schiff Posts: 20,099 Forumite
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    Each account I hold involves the other party having access to much personal information, it's unavoidable. Same with credit searches when applying for money things.

    But call me old fashioned if you will but I am NOT allowing an outside agency into the personal information required by this advance into the future. As with the banks now allowing an outside agency to operate actions on your accounts without your say-so.

    I find it frightening.
  • Steve_xx
    Steve_xx Posts: 6,976 Forumite
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    schiff wrote: »
    Each account I hold involves the other party having access to much personal information, it's unavoidable. Same with credit searches when applying for money things.

    But call me old fashioned if you will but I am NOT allowing an outside agency into the personal information required by this advance into the future. As with the banks now allowing an outside agency to operate actions on your accounts without your say-so.

    I find it frightening.

    I fully concur with your view. It is worrying.
  • schiff
    schiff Posts: 20,099 Forumite
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    For the moment it is voluntary but...............:(
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
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    schiff wrote: »
    As with the banks now allowing an outside agency to operate actions on your accounts without your say-so.

    I find it frightening.
    But that, supposedly, is NOT happening.

    The third party agents, who will all have FCA authorisation and many will be the existing banks and money-lenders, will only operate actions on your accounts at your request.
    This is very similar to direct debits, where a third party generates requests for payments from your account.

    Be frightened of the increased vulnerability to hacking Open Banking introduces, and the increased knowledge of your affairs financial institutions can gain, but not of the concept.

    I won't be authorising any third party access to my accounts if I can avoid it.
    Eco Miser
    Saving money for well over half a century
  • colsten
    colsten Posts: 17,597 Forumite
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    Please can people take their discussion about 3rd party access to a more suitable thread. This one is about the best currently available regular savings accounts.
  • adindas
    adindas Posts: 6,813 Forumite
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    edited 15 December 2017 at 6:34PM
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    mhoc wrote: »
    I've got a maturing Virgin 2 regular saver and I wondered about letting it mature and go into this other account.

    Then removing all but £1 but leaving this other open and dormant for now - as a justincase account

    IMO if you want to keep it just keep one of them e.g choose the longest one. This might be useful in the future when you need to apply a product with a condition related to the duration of your banking relationship with them.

    So in the future if there is a condition such as you will need to be a customer for at least two years for instance, you qualify for that product. Such condition is sometimes found with RS from building society.
  • Special_Saver2
    Special_Saver2 Posts: 1,406 Forumite
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    Hi Everybody,

    Here is this weekend's update. I have checked every account on the first page of this thread and found the following changes.

    - Darlington BS Junior High Days and Holidays account withdrawn and removed from post 3
    - Nottingham BS Robin Hood Young Saver issue 6 replaced with issue 7 - same terms and conditions as with issue 6 but maturity date changed from 31st May 2019 to 31st January 2020
    - Yorkshire BS Monthly Regular Saver account interest rate increased by 0.25% to 2%
    - N&P BS Monthly Regular Saver account interest rate increased by 0.25% to 2%

    I will do another update next weekend.

    SS2
    For those new to this thread, the first few posts are constantly updated and are here
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