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  • FIRST POST
    • Special_Saver2
    • By Special_Saver2 27th Nov 07, 10:33 PM
    • 1,111Posts
    • 3,991Thanks
    Special_Saver2
    Regular Savings Accounts: The Best Currently Available List!
    • #1
    • 27th Nov 07, 10:33 PM
    Regular Savings Accounts: The Best Currently Available List! 27th Nov 07 at 10:33 PM
    **THIS THREAD HAS NOW BEEN MOVED TO HERE!!**
    http://forums.moneysavingexpert.com/showthread.php?t=5776240

    I welcome you to join our discussion there.

    SS2
    Last edited by Westie983; 25-02-2018 at 11:44 AM.
Page 343
    • veryintrigued
    • By veryintrigued 7th Dec 17, 9:07 PM
    • 2,370 Posts
    • 1,784 Thanks
    veryintrigued
    Notts savvy saver follow on - maturity
    Just a reminder that this Savvy Saver should have matured but also that you're able to make £200 deposit (on top of the maximum £100) making a potential total £300 for the month of December into the SSFO.

    Then back to a maximum of £200 per month going forwards.
    Originally posted by veryintrigued
    I haven't had postal notification yet but a heads up that maturity on this should be next month.
    Last edited by veryintrigued; 11-12-2017 at 3:00 PM.
    • mhoc
    • By mhoc 9th Dec 17, 5:02 PM
    • 17,113 Posts
    • 208,966 Thanks
    mhoc
    I have had the letter about our Nationwide Flexclusive regular saver which is due to mature very early January.
    When it does mature it will have the same details - account and sort code but a new name Flexclusive Saver issue 8 - to me this is flannel as on your accounts list is just looks like an account name change and not a drop in interest rate to 0.50% (- the complacent few that don't check their accounts regularly wont realise, will ignore their letters and carry on paying in each month).

    It does say though that I could carry on with "my savings journey" by opening a new Flexclusive regular saver next day after maturity with another year of 5% but it does not say what the maximum monthly payments it will allow.

    (At the moment its in joint names but letters tend to come just in OHs name).

    The account should now have the full £6000. Will the account allow the £500 payment for January 1st making the total £6500 or will it bounce back. Or should I just cancel the standing order now as the extra £500 will only be in the account a few days and wont make a vast amount of extra interest.
    Or should I just cancel the standing order and put the final £500 in manually on January 1st?

    When I open the new one should I be able to just open it in my name only - its funded by the household joint account?
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
    • glider3560
    • By glider3560 9th Dec 17, 5:21 PM
    • 3,555 Posts
    • 2,252 Thanks
    glider3560
    the complacent few that don't check their accounts regularly wont realise, will ignore their letters and carry on paying in each month)
    Originally posted by mhoc
    "You snooze, you lose". I think it is quite clear when you open the account that it is a 12 month term. They also write to you. How much more clearer could they make it? Rename the account to "Rubbish interest rate Issue 8"?

    It does say though that I could carry on with "my savings journey" by opening a new Flexclusive regular saver next day after maturity with another year of 5% but it does not say what the maximum monthly payments it will allow.
    Originally posted by mhoc
    £250 per month.

    The account should now have the full £6000. Will the account allow the £500 payment for January 1st making the total £6500 or will it bounce back. Or should I just cancel the standing order now as the extra £500 will only be in the account a few days and wont make a vast amount of extra interest.
    Or should I just cancel the standing order and put the final £500 in manually on January 1st?
    Originally posted by mhoc
    It will accept the extra £500. I didn't do it this year as my account matured on the 3rd December, so seemed pointless.

    When I open the new one should I be able to just open it in my name only - its funded by the household joint account?
    Originally posted by mhoc
    Yes, it doesn't matter where the money comes from. You just need to be able to meet the criteria (which you will, if the joint account does).

    • clivep
    • By clivep 9th Dec 17, 5:46 PM
    • 327 Posts
    • 164 Thanks
    clivep
    Yes, it doesn't matter where the money comes from. You just need to be able to meet the criteria (which you will, if the joint account does).
    Originally posted by glider3560
    See my post at http://forums.moneysavingexpert.com/showthread.php?p=73521484#post73521484

    Unless it's changed, the problem is that when applying online the account name for the new Flexclusive Regular Saver defaults to that of the Nationwide a/c used for the deposit and you can't alter this. If you ONLY have Nationwide current and savings a/cs in joint names then you can't set up a regular saver in a sole name. It is possible but you need to phone them to set it up.

    Once the sole regular savers have been opened then there's no problem using a standing order to make further monthly deposits.
    • glider3560
    • By glider3560 9th Dec 17, 5:50 PM
    • 3,555 Posts
    • 2,252 Thanks
    glider3560
    See my post at http://forums.moneysavingexpert.com/showthread.php?p=73521484#post73521484

    Unless it's changed, the problem is that when applying online the account name for the new Flexclusive Regular Saver defaults to that of the Nationwide a/c used for the deposit and you can't alter this. If you ONLY have Nationwide current and savings a/cs in joint names then you can't set up a regular saver in a sole name. It is possible but you need to phone them to set it up.

    Once the sole regular savers have been opened then there's no problem using a standing order to make further monthly deposits.
    Originally posted by clivep
    You can open it in sole names online, just choose that you don't have online banking. It then takes you to a different application form which gets processed by a human and lets you deposit money manually once open.

    • clivep
    • By clivep 10th Dec 17, 10:20 AM
    • 327 Posts
    • 164 Thanks
    clivep
    You can open it in sole names online, just choose that you don't have online banking. It then takes you to a different application form which gets processed by a human and lets you deposit money manually once open.
    Originally posted by glider3560
    That's a good point. I was describing the difficulty doing it once logged into your a/c but the solution you offer is a good alternative to calling them.
    • glider3560
    • By glider3560 10th Dec 17, 2:22 PM
    • 3,555 Posts
    • 2,252 Thanks
    glider3560
    For those with maturing Virgin accounts: I noticed you can request closure on a specific future date through their online banking. On the "withdrawal" page, press "Closure" then enter a date in the future. The account gets closed automatically and balance transferred to your nominated account on that day.

    Seems a useful feature for those who might forget or be otherwise engaged on the maturity date.

    • mhoc
    • By mhoc 10th Dec 17, 4:34 PM
    • 17,113 Posts
    • 208,966 Thanks
    mhoc
    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
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
    • colsten
    • By colsten 10th Dec 17, 6:37 PM
    • 9,008 Posts
    • 7,754 Thanks
    colsten

    Then removing all but £1 but leaving this other open and dormant for now - as a justincase account
    Originally posted by mhoc
    just in case for what eventuality?
    • Special_Saver2
    • By Special_Saver2 10th Dec 17, 10:29 PM
    • 1,111 Posts
    • 3,991 Thanks
    Special_Saver2
    Hi Folks,

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

    - Leeks United BS Regular Savings account interest rate increased by 0.25% to 2.25%
    - Scottish BS Junior Regular Saver account interest rate increased by 0.15% to 2.15%
    - Newcastle BS Big Little Saver Children's Account interest rate increased by 0.25% to 2.12%

    I will do another update next weekend.

    SS2
    -----------------------------------------------------------------
    For those new to this thread, the first few posts are constantly updated and are here
    • mhoc
    • By mhoc 10th Dec 17, 11:03 PM
    • 17,113 Posts
    • 208,966 Thanks
    mhoc
    just in case for what eventuality?
    Originally posted by colsten
    Not exactly sure what but the interest rate is slightly better.
    Also as each issue matures it would be a temporary home for maturing funds
    “Create all the happiness you are able to create; remove all the misery you are able to remove. Every day will allow you, --will invite you to add something to the pleasure of others, --or to diminish something of their pains.”
    • badger09
    • By badger09 11th Dec 17, 11:18 AM
    • 5,944 Posts
    • 5,283 Thanks
    badger09
    Not exactly sure what but the interest rate is slightly better.
    Also as each issue matures it would be a temporary home for maturing funds
    Originally posted by mhoc
    The interest rate is slightly better than what?

    As each RS issue matures, it will automatically mature into a variable rate account, unless you follow glider3560's suggestion.

    So why keep this one?
    • KTF
    • By KTF 13th Dec 17, 10:43 AM
    • 4,640 Posts
    • 1,898 Thanks
    KTF
    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
    • By schiff 13th Dec 17, 11:19 AM
    • 17,939 Posts
    • 9,321 Thanks
    schiff
    A polite request!
    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
    • By Steve_xx 13th Dec 17, 11:23 AM
    • 6,530 Posts
    • 2,734 Thanks
    Steve_xx
    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.
    Originally posted by KTF
    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
    • By schiff 13th Dec 17, 11:36 AM
    • 17,939 Posts
    • 9,321 Thanks
    schiff
    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
    • By Steve_xx 13th Dec 17, 11:46 AM
    • 6,530 Posts
    • 2,734 Thanks
    Steve_xx
    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.
    Originally posted by schiff
    I fully concur with your view. It is worrying.
    • schiff
    • By schiff 13th Dec 17, 12:09 PM
    • 17,939 Posts
    • 9,321 Thanks
    schiff
    For the moment it is voluntary but...............
    • Eco Miser
    • By Eco Miser 13th Dec 17, 12:13 PM
    • 3,444 Posts
    • 3,234 Thanks
    Eco Miser
    As with the banks now allowing an outside agency to operate actions on your accounts without your say-so.

    I find it frightening.
    Originally posted by schiff
    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
    • By colsten 13th Dec 17, 2:17 PM
    • 9,008 Posts
    • 7,754 Thanks
    colsten
    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.
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