Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • Special_Saver2
    • By Special_Saver2 27th Nov 07, 10:33 PM
    • 1,112Posts
    • 3,996Thanks
    Special_Saver2
    Regular Saver Thread **New and Restarted**
    • #1
    • 27th Nov 07, 10:33 PM
    Regular Saver Thread **New and Restarted** 27th Nov 07 at 10:33 PM
    1. Introduction

    Welcome to this thread. I continually edit the first few posts of this thread to keep it up-to-date. This thread is meant to complement Martin Lewis' article which you can read here: Regular Savings Accounts and the accompanying discussion thread Regularly Beat the Best Savings Account Rates Discussion Area

    I am happy for people to use this thread to discuss the regular savings accounts on this list. If people want to discuss one of the feeder accounts or a maturing account that is no longer on this list, I am happy for people to post something on this thread (as it may be of interest to some of the people who follow this thread), although I would prefer they start a new thread and then post a message on this thread with a link to the new thread.

    I am only including accounts where the interest rate is 2.5% or better, or 1.5% if there are particularly favourable terms and conditions (e.g. fixed rate, no maturity date, allow payment of 500 or more per month, or have unlimited withdrawals without penalty).

    I have not included regular saver ISA accounts which you can find in Kazza242's thread here: Mini Cash ISAs: The Best ISAs Currently Available List

    I have included children's regular savers but I would strongly recommend that you read the section about the tax implications
    for interest from children's accounts in Martin's article Best Child Savings.

    If you are not sure whether the best place for your money is in a regular savings account or another type of savings account then look at Martin's article How to Start Saving. If you want to see a worked example of how to use these accounts to save the maximum possible, see the thread What is the Highest Interest Rate You Can Get?

    If you have information about a new regular saver account then please feel free to post a message on this thread or you can write a separate thread and then post a link here. Please try and limit discussion on this thread to regular savings accounts.

    If you want to bookmark a link that allows you to jump straight to the end of this thread then use this: http://forums.moneysavingexpert.com/showthread.php?t=5776240&page=9999

    If you want to receive automatic alerts when new posts are added to this thread then use the following instructions. Login, go to the top of any page in this thread, click "Thread tools" then click on "Subscribe to this thread" and then select whether you want to be notified as soon as there is a new post (you will receive an e-mail telling you to go to the website for more details) or select daily or weekly updates (you will receive an e-mail daily / weekly with a handy summary of all the new posts).

    You may also be interested in the following threads:
    How can regular savings accounts offer such good interest rates?
    Are Regular Savers still worth it? (Calculations and discussion regarding drip feeding lump sums into regular savings accounts)
    Is there a best time of the month to deposit in Regular Savers?
    Transfers from Barclays to regular savings accounts
    Interest on BACS credits
    Direct Debit Payments
    A-Z of bank/building society sort codes/account nos
    Account opening date and 13th payments

    Websites with useful information include:
    Moneyfacts.co.uk News Page
    Moneyfacts.co.uk Regular Savings Accounts Page
    Moneyfacts.co.uk Children's Savings Accounts Page
    Moneysupermarket.com Regular Savings Accounts Page

    (you need to choose the right hand option on that page to view all regular savings accounts)
    Savings Champion Regular Savings Account Page

    Thanks to numerous forum users
    for their contributions (useful posts either directly on this thread or on another thread that I have then incorporated here).

    I have divided up the information here into several different sections. You can therefore easily skip any sections that you are not interested in.

    Unless indicated otherwise, you can only open one of each account.


    I have included a summary of the terms and conditions of each account as these can be complicated with regular savings accounts. I would advise you to look at these terms and conditions to check that the account is suitable for you.

    You might find some references to the "old version of this thread" in the first page of this thread. This thread is the 3rd version of my regular savings thread. The first thread was closed at my request as the information grew beyond the character limit of the few posts that I had placed on the first page. I then created the 2nd version on 27th November 2007. The second version was very popular with many pages of useful posts and over 1 million views. This was the popular "old version of this thread" referred to above. At the beginning of 2018 that thread was somehow accidentally deleted but the moderators were able to create a new thread (this 3rd version) and reproduce the first page of my 2nd version thread.


    2. No Time Limit / Account Maturity Date

    The advantage of these accounts is that you can build up a large balance which all earns a high rate of interest. You also avoid the hassle of continually opening and closing accounts and setting up new standing orders for each new account. The terms and conditions are also generally good - they generally allow you to make a penalty-free withdrawal and miss a payment each year. The disadvantage of these accounts is that there is no guarantee that the rate will remain high and often these accounts have a balance limit. If the interest rate drops after 12 months then I include the account in post 4 instead.


    3. Matures After More Than 12 Months

    The interest rate drops significantly after the date specified.

    4. Matures After 12 Months

    These accounts usually offer higher interest rates and they often offer interest rates that are fixed for the full 12 months. The main disadvantage with these accounts is that after 12 months the interest rate usually drops significantly. The terms and conditions can also be quite restrictive, so read them carefully.

    5. Matures After 12 Months, Requires Another Account

    These accounts are similar to the above accounts but they require you to open another account (usually a current account, which often has a funding requirement). They are more hassle than the accounts in section 4 but usually have a higher interest rate in return.

    6. Matures After 12 Months, Requires Another Product (Insurance or Investment)

    These accounts usually also offer a short term, high interest rate but they require you to make a long term investment or take out an insurance product.


    7. Matures After Less Than 12 Months

    These accounts are usually Christmas Saver accounts designed to encourage saving in time for Christmas.

    8. Homebuyer Accounts

    Okay, these accounts will not be of much use to you unless you are going to buy a house but they may be of use to some of you out there.

    9. Best Feeder Accounts

    These are accounts where you can leave a large lump sum and drip feed the money into your regular savers each month. Certain accounts are not listed here as they cannot transfer money directly to regular savings accounts. The accounts listed can do BACS transfers to regular savings accounts directly. Alternatively, if you have an offset mortgage, you might be able to use that as a feeder account but it is only worth doing so if the interest paid (after tax) on the regular saver account is higher than the interest rate on your mortgage account.
    Last edited by Special_Saver2; 08-04-2018 at 2:17 PM.
Page 15
    • Wheres My Cashback
    • By Wheres My Cashback 7th Mar 18, 7:37 PM
    • 2,991 Posts
    • 37,343 Thanks
    Wheres My Cashback
    SS2 is referring to the store version, called the Regular Saver. You're referring to the online version, called the Regular E-Saver.
    Originally posted by YorkshireBoy
    Oops !!!!!
    • karlie88
    • By karlie88 9th Mar 18, 5:25 PM
    • 8,382 Posts
    • 106,142 Thanks
    karlie88
    With the update to the Leeds BS online services, I set mine up today. You can now request a withdrawal online, but only via cheque. So if you do miss the deadline for pre logging your maturity instuctions, this is now an option. In the past they always send cheques first class so get them rather quickly. If you use Halifax etc. you can now pay the cheque in via the app so not as tedious as it used to be.

    Just as a side note, if you have an online account with them you can also now request internal transfers online and then do the withdrawal this way.
    Originally posted by cosh25
    Just to add to the above - you can also request closure of accounts once logged in.

    So that pesky 'Access Saver' account that I've had for several months with 250 in it has finally gone!

    I think some of us managed to inherit that account by being a bit too eager when Leeds BS's regular saver was launched. Cheque's arrived today, deposited via my phone and the account no longer present on online banking.
    Official MSE canny forumite and HUKD VIP badge member
    • molerat
    • By molerat 10th Mar 18, 1:43 PM
    • 18,606 Posts
    • 12,752 Thanks
    molerat
    Opened a Leeds RS and deposited 250, now waiting for access code to get on line.
    www.helpforheroes.org.uk/donations.html
    • welshmoneylover
    • By welshmoneylover 12th Mar 18, 9:39 AM
    • 2,722 Posts
    • 3,624 Thanks
    welshmoneylover
    Can anyone help please?
    My Halifax RS matured last week, and I have been trying to open another one online but it has told me I cam not eligible for another RS. Anyone have any idea why?
    I am sure in the past I have been able to open another RS with them.
    Be happy, it's the greatest wealth
    • adindas
    • By adindas 12th Mar 18, 10:46 AM
    • 3,530 Posts
    • 2,193 Thanks
    adindas
    Can anyone help please?
    My Halifax RS matured last week, and I have been trying to open another one online but it has told me I cam not eligible for another RS. Anyone have any idea why?
    I am sure in the past I have been able to open another RS with them.
    Originally posted by welshmoneylover
    This is quite unusual.
    Try calling them explaining your problem.
    • pafpcg
    • By pafpcg 12th Mar 18, 12:13 PM
    • 208 Posts
    • 181 Thanks
    pafpcg
    My Halifax RS matured last week, and I have been trying to open another one online but it has told me I cam not eligible for another RS. Anyone have any idea why?
    Originally posted by welshmoneylover
    Are you logging-in with a BoS or Halifax identity?

    I normally manage my Bank-of-Scotland and Halifax accounts using my BoS login identity (you can see and operate all HBOS accounts from either BoS or Halifax), but when renewing a Halifax regular saver it automatically assumed I was wanting to start a new BoS account and refused because I already had a BoS regular saver - I simply had to login with my Halifax identity and all worked perfectly!
    • Westie983
    • By Westie983 12th Mar 18, 1:13 PM
    • 4,333 Posts
    • 14,890 Thanks
    Westie983
    Can anyone help please?
    My Halifax RS matured last week, and I have been trying to open another one online but it has told me I cam not eligible for another RS. Anyone have any idea why?
    I am sure in the past I have been able to open another RS with them.
    Originally posted by welshmoneylover
    Has it disappeared from your internet banking, has the money been removed?

    Once its empty you should be able to open a new one.

    Westie983
    Save 12k in 2018 #10 Total (25,000)+10,000/12,000 = 83.33%
    Sealed Pot Challenge ~ 11 #97 Total (410) + 40/500 = 8.00% ( x 11)
    Xmas 2018 1 a Day #2 Total 62.59/365 = 17.14%
    Virtual Sealed Pot #1 Total 750/1,000 = 75.00%
    2 Savers Club 2018 #16 Total (1,500)+-480/2,000 = 51.00%

    Total 11,872.59/15,865 = 74.83%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • Ed-1
    • By Ed-1 12th Mar 18, 1:19 PM
    • 2,204 Posts
    • 1,178 Thanks
    Ed-1
    Are you logging-in with a BoS or Halifax identity?

    I normally manage my Bank-of-Scotland and Halifax accounts using my BoS login identity (you can see and operate all HBOS accounts from either BoS or Halifax), but when renewing a Halifax regular saver it automatically assumed I was wanting to start a new BoS account and refused because I already had a BoS regular saver - I simply had to login with my Halifax identity and all worked perfectly!
    Originally posted by pafpcg
    You can't open Halifax accounts through BOS login and vice versa, just like you can't open Halifax accounts in a BOS branch and vice versa.
    • Sea Shell
    • By Sea Shell 12th Mar 18, 1:43 PM
    • 730 Posts
    • 1,016 Thanks
    Sea Shell
    Whoo-hoo, it's Virgin Regular saver interest day!!!! Kerching!!
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow "
    • gingercordial
    • By gingercordial 12th Mar 18, 4:40 PM
    • 1,153 Posts
    • 1,193 Thanks
    gingercordial
    Can anyone help please?
    My Halifax RS matured last week, and I have been trying to open another one online but it has told me I cam not eligible for another RS. Anyone have any idea why?
    I am sure in the past I have been able to open another RS with them.
    Originally posted by welshmoneylover
    Has the old one been closed properly?

    I had one that matured over a year ago, and I didn't re-subscribe for another year but it still sat there with zero balance in my online banking. When I came to want another (at 2.5% rather than the old 2%) I couldn't do so as the old one meant the system thought I already had one. I couldn't close it online, called and was told I couldn't close it by phone either but had to write or call into a branch which was a bit annoying. However when I did manage to get to a branch they were able to shut it down at the counter and I could open a new RS online the following day.
    • Stompa
    • By Stompa 12th Mar 18, 5:17 PM
    • 7,706 Posts
    • 3,763 Thanks
    Stompa
    Whoo-hoo, it's Virgin Regular saver interest day!!!! Kerching!!
    Originally posted by Sea Shell
    Thanks, I'd forgotten about that.

    I'm not sure what's happened to my Easy Access E-Saver Reward 12 [formerly Regular E-Saver (Issue 2)]. After they paid out double interest on maturity it had a balance of -37.09, but there is now a new entry called 'INTEREST RECOVERED' of -37.18. Very mysterious!
    Stompa
    • Hattie625
    • By Hattie625 12th Mar 18, 5:19 PM
    • 714 Posts
    • 572 Thanks
    Hattie625
    Thanks, I'd forgotten about that.

    I'm not sure what's happened to my Easy Access E-Saver Reward 12 [formerly Regular E-Saver (Issue 2)]. After they paid out double interest on maturity it had a balance of -37.09, but there is now a new entry called 'INTEREST RECOVERED' of -37.18. Very mysterious!
    Originally posted by Stompa
    Same here. It's also happened on my former Regular E Saver Issue 3.
    • Stompa
    • By Stompa 12th Mar 18, 5:26 PM
    • 7,706 Posts
    • 3,763 Thanks
    Stompa
    Same here. It's also happened on my former Regular E Saver Issue 3.
    Originally posted by Hattie625
    My former Issue 3 just says 'ACCESS DENIED' (which has been the case for at least 10 days).
    Stompa
    • Frogletina
    • By Frogletina 12th Mar 18, 6:09 PM
    • 3,057 Posts
    • 11,067 Thanks
    Frogletina
    My former Issue 3 just says 'ACCESS DENIED' (which has been the case for at least 10 days).
    Originally posted by Stompa
    Mine shows that too

    frogletina
    Not Rachmaninov
    But Nyman
    The heart asks for pleasure first

    SPC 8 #441 1567.31 SPC 9 #441 1014.64 SPC 10 #441 1164.13
    • Westie983
    • By Westie983 12th Mar 18, 6:13 PM
    • 4,333 Posts
    • 14,890 Thanks
    Westie983
    and mine - it still shows as regular saver 3 and not the matured version of Easy Access E-Saver Reward.

    I have updated my accounts with todays interest, now to wait for Santander to mature and then its back to Virgin on the 1st and 20th of April, and some others mature as well.

    Westie983
    Save 12k in 2018 #10 Total (25,000)+10,000/12,000 = 83.33%
    Sealed Pot Challenge ~ 11 #97 Total (410) + 40/500 = 8.00% ( x 11)
    Xmas 2018 1 a Day #2 Total 62.59/365 = 17.14%
    Virtual Sealed Pot #1 Total 750/1,000 = 75.00%
    2 Savers Club 2018 #16 Total (1,500)+-480/2,000 = 51.00%

    Total 11,872.59/15,865 = 74.83%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • glider3560
    • By glider3560 12th Mar 18, 6:19 PM
    • 3,556 Posts
    • 2,252 Thanks
    glider3560
    You can't open Halifax accounts through BOS login and vice versa, just like you can't open Halifax accounts in a BOS branch and vice versa.
    Originally posted by Ed-1
    I have the same login for both sites (i.e change password on Halifax, it automatically changes on BoS). But you can only open the product on the correct brand's website.

    • adindas
    • By adindas 12th Mar 18, 7:42 PM
    • 3,530 Posts
    • 2,193 Thanks
    adindas
    If you want to close your store based Virgin Money Regular Saver by sending a request to the Headquarter, did you need to enclose the passbook?

    If so is there any problem if you lose your passbook during the postage?

    If for instance the maturity date is April 1, 2018 when is the best time to send the reqest to close your account ??

    Thanks
    • Westie983
    • By Westie983 12th Mar 18, 7:52 PM
    • 4,333 Posts
    • 14,890 Thanks
    Westie983
    four days before I would say... I wouldn't worry about the books going astray I post my Leeds ones each month and they come back okay.

    Westie983
    Save 12k in 2018 #10 Total (25,000)+10,000/12,000 = 83.33%
    Sealed Pot Challenge ~ 11 #97 Total (410) + 40/500 = 8.00% ( x 11)
    Xmas 2018 1 a Day #2 Total 62.59/365 = 17.14%
    Virtual Sealed Pot #1 Total 750/1,000 = 75.00%
    2 Savers Club 2018 #16 Total (1,500)+-480/2,000 = 51.00%

    Total 11,872.59/15,865 = 74.83%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • veryintrigued
    • By veryintrigued 12th Mar 18, 8:00 PM
    • 2,380 Posts
    • 1,796 Thanks
    veryintrigued
    Isn't there another (MSE created) RS thread to keep the chatter of non new RS to a limit on this New RS only thread?

    We don't want to risk losing this thread again and it'd be nice to keep SS work to a minimum each week without having to trawl through lots of unrelated gumpf.

    On the Virgin RS possibly use the thread below?

    http://forums.moneysavingexpert.com/showthread.php?t=5809065
    • Westie983
    • By Westie983 12th Mar 18, 8:04 PM
    • 4,333 Posts
    • 14,890 Thanks
    Westie983
    Isn't there another (MSE created) RS thread to keep the chatter of non new RS to a limit on this New RS only thread?

    We don't want to risk losing this thread again and it'd be nice to keep SS work to a minimum each week without having to trawl through lots of unrelated gumpf.

    On the Virgin RS possibly use the thread below?

    http://forums.moneysavingexpert.com/showthread.php?t=5809065
    Originally posted by veryintrigued
    I closed the old thread to comments on SS2 instructions, but I agree to keep Virgin talk to the thread you have posted.

    Westie983
    Save 12k in 2018 #10 Total (25,000)+10,000/12,000 = 83.33%
    Sealed Pot Challenge ~ 11 #97 Total (410) + 40/500 = 8.00% ( x 11)
    Xmas 2018 1 a Day #2 Total 62.59/365 = 17.14%
    Virtual Sealed Pot #1 Total 750/1,000 = 75.00%
    2 Savers Club 2018 #16 Total (1,500)+-480/2,000 = 51.00%

    Total 11,872.59/15,865 = 74.83%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,990Posts Today

6,015Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin