Halifax and TSB regular savers

No_Name · 17 March 2017 at 11:58AM

I've opened my TSB and Halifax regular savers last night.

Halifax allowed me to make a transfer straightaway so assume this effectively counts as the first SO? When should I set my subsequent 11 SOs to go - 1st of every month? Am I correct in thinking their month (for reg saver purposes) is 1st to 25th?

And a similar question for TSB - setup SO for 1st to maximise interest?

TSB never gave an option to transfer immediately, so first payment went out today.

1. I believe I can amend to 1st of every month?
2. When would the last payment date be - 16/03/18 or 17/02/18?
3. Is it easier to just cancel after February 2018 payment?

If changed to 1st for each Halifax and TSB accounts, would the 13th payment be ignored or jeopardise the account conditions?

fifeken · 17 March 2017 at 3:31PM

No_Name wrote: »

And a similar question for TSB - setup SO for 1st to maximise interest?

TSB never gave an option to transfer immediately, so first payment went out today.

1. I believe I can amend to 1st of every month?
2. When would the last payment date be - 16/03/18 or 17/02/18?
3. Is it easier to just cancel after February 2018 payment?

If changed to 1st for each Halifax and TSB accounts, would the 13th payment be ignored or jeopardise the account conditions?

I only have experience of the TSB one, and mine finished a couple of months ago.
Yes, you can amend to the first of the month.
Last payment would be on 1 March 2018
No need to cancel after Feb 2018 payment as a 13th payment is perfectly OK.

molerat · 17 March 2017 at 4:10PM

Both stipulate "per calendar month" so first by bank transfer now, next payment 1st April and last 1st March 18.

No_Name · 17 March 2017 at 6:34PM

Thanks both.

Halifax and TSB regular savers

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