I use Regular Savers to separate my money for different causes.
RS obviously for annual type events.
My EA stuff is divided between three providers, linked to current account A, current account B, and multi accounts, to cover outages when I might need to make a withdrawal.
That said, that’s what my credit cards are for imo.
I have regular savers at 9%, 7.5%, 7%, 6%
Hardly, barely any higher in my book 
I’m with you on this. I only understand why people might not bother if their overall balance is high enough to live off the interest - probably half a million saved.
Every % point per £1000 is worth a tenner per year. If you have a five figure balance to play with you are doing yourself out of £100s a year by using easy access rather than playing the regular savings game.
To me reading between the lines, there are contributors here who obviously fall into the very wealthy bracket. Therefore on the 5 or 6 figure sums that I assume are being moved about, of course the interest is going to look very healthy.
I wonder how many people are busting their £1000 a year tax free limit on interest savings? 
I’d also wager that if one has 30 plus accounts being regularly administered, then there must be a lot of spare time available in one’s life 
Nah. My fiancée and I have about that many in active use between us. The ‘regular administration’ is about 20 mins every 1st of the month while watching telly.
Doesn’t take more than a few seconds to just sent a payment and see that it arrives somewhere else, that’s the luxury of banking in 2023.
To be fair you can’t put lump sums into regular savers so the effective rate works out below the advertised rate iirc
No, it doesn’t. This is an oft repeated fallacy. Every penny paid in earns the full stated interest rate for each full day it’s in the account.
Money which is not in the account earns nothing, as with every savings product. That doesn’t mean that money is locked away though, or that there is no other earning potential for it.
these deserve special recognition
For those on the higher tax rate it’s a measly £500 allowance. In any event, with the rising rates, breaching them just got a whole lot easier.
It’s not a fallacy, it’s murky advertising. They should be more clear and mention “due to the nature of this account you won’t get 9% on your entire balance over the course of a year”
Should they have to account for people’s lack of a basic grasp of mathematics?
Yes, come later this year they will have an explicit obligation to look after customers to achieve a positive outcome for them
So I’d say the FCA agrees that they should act like everyone is a layman if they’re a retail client
I’m well aware of consumer duty but I’m not sure this would fall under it. Either the rate is advertised correctly or it isn’t. You can’t attain interest on funds that aren’t in the account.
That would be misleading. You do get the full interest rate on every penny in your account. You are limited by how much you can put in each month.
These ‘oh it’s only actually half that interest rate’ type posts work on the lazy/stupid assumption that money earns nothing if not in this account.
Agree to disagree
But the above is precisely what a 9% regular saver does pay in interest
What it doesn’t do, is pay 9% of the balance at the end of the year.
Money for a large amount of people does earn nothing if not put into the sole savings account they have
Don’t do that then, dead simple.
Yorkshire new rates, mainly from 6 July 2023
Those ISA rates are attractive.