There’s no doubt that if you can latch on to enough of them, Regular Savers can be a really healthy solution. With some of these, I guess, having another account is a pre-requisite ?
Aye, Nationwide and all of the bank ones except Halifax require a matching current account. West Brom needs you to be a local or have any other savings account with them (trivial). Mansfield is the same but if you’re not local you have to have held the account for a year.
The Easy Saver with that rate, however, is limited to 3 withdrawals in 12 months.
Their true EA is just 4.29%
The ISA, although flexible, which is a huge positive for me, requires £10k to open, unless you’re an existing customer.
A work-around may be to open easy access account, get your login details, then apply for ISA as existing customer (if you don’t have a spare £10k)
Not sure what they’re like now, but when I had an account with them a few years ago it was all passbooks in the post and sending original statements to verify nominated bank account. Hopefully, they will have progressed by now.
That’s obviously to stop people trying that shortcut then!
It was a mere £1 when I opened mine, c.2021
EDIT
Aaaaaah!
Just double checked my records to reveal that I have NEVER held a Monument Bank account
It was Monmouthshire Building Society. Hence the passbooks, I guess
The £25,000 minimum balance requirement is for the combined total across for a customer taking so their Monument accounts - not for an individual account.
I am interested in opening the Cash ISA, however, cannot see the funding window from when first opened, i.e. if I open today, can I deposit £10k on 6 April?
My other Cash ISAs are dropping rates in May 2025.
UPDATE
Opened via app inside five minutes, after I got access to the terms which revealed a 30 day window for the initial deposit
It was its flexible status that sold it to me, along with their claim of 24/7 access to my funds.
For ISA’s that aren’t flexible, can they be transferred into a Flexible ISA mid-year?
I’m looking at Plum’s promo of 5.6% for 3 months but then after 3 months it drops back to 3.54%, so would want to transfer it to another higher rate ISA at that point, is that possible?
Looking into this, while it’s possible to transfer out, the provider you are transfering from may impose penalties for doing so, eg Plum says:
If you Transfer Out within the 12 month period after opening your Cash ISA account with Plum you will lose your bonus and forfeit any interest earned that month
