Best savings account?

ShiWarrior said:
HSBC has just launched a fixed 7% regular saver , upto £250 a month

Regular Savings Account | Regular Saver - HSBC UK

Put money aside each month and watch your balance grow with an HSBC Regular Saver. Learn how you can save up to £3,000 at a great rate of interest here.
www.hsbc.co.uk www.hsbc.co.uk
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That's pretty good, I need to see what Nationwide will do once my existing 8% one ends, I guess the replacement is less.

I was with HSBC for ages but switched to Nationwide for all my account needs last year, still winning on the trade as I got cash to move across, and the fairer sharer payment earlier in the year, plus the 8% reg saver I was running since last Nov.
 
HungryHippos said:
That's pretty good, I need to see what Nationwide will do once my existing 8% one ends, I guess the replacement is less.

I was with HSBC for ages but switched to Nationwide for all my account needs last year, still winning on the trade as I got cash to move across, and the fairer sharer payment earlier in the year, plus the 8% reg saver I was running since last Nov.
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I have been using that too but not seen any interest accrued on it, do they drop when it matures?
 
HungryHippos said:
That's pretty good, I need to see what Nationwide will do once my existing 8% one ends, I guess the replacement is less.

I was with HSBC for ages but switched to Nationwide for all my account needs last year, still winning on the trade as I got cash to move across, and the fairer sharer payment earlier in the year, plus the 8% reg saver I was running since last Nov.
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I think the Nationwide regular saver is now 6.5%. Mine hit £2400 this month, maturing end of next month with around £115 interest but I don't think I will replace it as I have had 4 regular savers running for the last 9 months and they squeeze my budget pretty hard.

Coop and First Direct also offer 7% regulars
 
Disco_P said:
I think the Nationwide regular saver is now 6.5%. Mine hit £2400 this month, maturing end of next month with around £115 interest but I don't think I will replace it as I have had 4 regular savers running for the last 9 months and they squeeze my budget pretty hard.

Coop and First Direct also offer 7% regulars
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I have that account too. I near enough at my free interest tax limit for the year, so I’ll just keep chucking it into premium bonds for now until I fill those. Then in April I’ll need to open a new regular saver I suspect.

HungryHippos said:
Yep it pays on maturity.

Good and bad as it throws all the interest in at the same time so gotta be careful for the tax things.
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I was fine until nationwide chucked me a free £100. I had to make a good few adjustments after that.
 
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ShiWarrior said:
Just noticed Chip cash ISA on my app says 4.84%, but the website says 5.01%

4.58% AER Instant Cash ISA | Chip

The Chip Cash is fully flexible, allowing you to deposit up to £20,000 per tax year and withdraw when it suits you - without impacting your ISA allowance.
www.getchip.uk www.getchip.uk
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For new accounts, if you use the code when opening it. Those of us who already have one just get the 4.84%
 
CaptainRAVE said:
I was fine until nationwide chucked me a free £100. I had to make a good few adjustments after that.
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I don’t think that is considered as gains.. and won’t affect interest or capital tax. It’s considered as a gift incentive, like getting x amount for opening a new account.

Edit: looking at nationwide’s site… it seems that I’m wrong and it should be considered as taxable income.
 
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slinxy said:
I don’t think that is considered as gains.. and won’t affect interest or capital tax. It’s considered as a gift incentive, like getting x amount for opening a new account.

Edit: looking at nationwide’s site… it seems that I’m wrong and it should be considered as taxable income.
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Thats what I would have said taxable income. Not interest however!
 
Oof - that's annoying RE: the Nationwide £100. Although annoying in a weird way vs. a normal way :D

We get reward points at work which cause a headache re: adjusted net. You have to manage it so well.
 
dlockers said:
Oof - that's annoying RE: the Nationwide £100. Although annoying in a weird way vs. a normal way :D

We get reward points at work which cause a headache re: adjusted net. You have to manage it so well.
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Yes, it’s a good kind of annoying at least. It meant I had to rework my numbers and accounts. For now I just chuck any excess into premium bonds, I find the randomness and ‘prizes’ quite fun. I’ll then just move onto ISAs I think.
 
It seems Nationwide are treating it as savings income (not interest) so they must have agreed this with HMRC.

They could easily beat any HMRC challenge to it being a fixed amount by saying its not its a variable rate interest bonus, and at that point it would be compliant so suspect HMRC would have given up.
Also ofc many people don't use their £1k misc income allowance anyway so it would just fall into that bucket.
 
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Had a text my 0% on my M&S card is up. It has worked hard for me the last few months, so transferring £5k over to a Tesco 27 month card. There is a 3% fee so it's cost me £150 but I figure even when Zopa drops I'll still do more than £150; and the security of having the cash spare is nice.

I'll put it in a separate pot so I don't have to think about it.
 
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