Regular Savings Accounts: The Best Currently Available List!

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  • glider3560
    glider3560 Posts: 4,115 Forumite
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    adindas wrote: »
    Does anyone knwo the best way to close a postal account with pass book such as Leeds RS i3.

    Leeds RS i3 is maturing on October 31, 2017 I just called them that I wanted to close it, bus he was asking me to send the letter together with the pass book to them.

    Sending the passbook will need to be done by signed for letter otherwise it might loose during transfer and you have no proof of posting it. Signed for will cost around £1.75 not to mention time need to go to the post office.

    Does anyone a better method to close your RS with passbook such as Leeds RS ??
    I closed mine a few months ago when I bought a flat. I posted it to head office with a withdrawal slip. Cheque arrived about 5 days later.

    There's not much point IMO to send it by recorded delivery, unless sending it right at the last minute. If it goes missing, you can just ask for a new one. Also, "signed for" delivery just gets transported with the regular mail, only they get a signature at point of delivery. Special Delivery gets transorted separately and tracked at every point.
  • glider3560
    glider3560 Posts: 4,115 Forumite
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    Speculator wrote: »
    I may make a trip to the Stevenage branch. Does anyone know if it's closure by cheque only or will they allow BACS/FP withdrawals?
    Cheque or CHAPS only. Cheque is feee, CHAPS has a fee. For the small amount of interest lost, the cheque worked out the best option for me.
  • interest_Ted
    interest_Ted Posts: 155 Forumite
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    Speculator wrote: »
    Does it say in the letter if they will allow closure by BACS/FP to our current accounts or is it CHAPS/Cheques only? Thanks.

    No doesn't say.
    Please can I ask where your info came from? Have you had a letter in the post? Nothing on the website yet.

    Yes letter(s) in Royal Mail post.

    Also just ought to highlight that the new single access account really is SINGLE ACCESS. Withdrawals are 'instant' but restricted to one specific day per year. Aaaargh !

    Ted
  • Speculator
    Speculator Posts: 2,225 Forumite
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    edited 4 October 2017 at 6:42PM
    interest_Ted wrote: »
    No doesn't say.




    Ted

    Just remembered, I have online access so could probably make a FP/Bacs withdrawal before it converts to the new account. Think I can transfer to my YBS internet Saver then FP to nominated a/c.
  • Speculator
    Speculator Posts: 2,225 Forumite
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    edited 4 October 2017 at 6:49PM
    glider3560 wrote: »
    I closed mine a few months ago when I bought a flat. I posted it to head office with a withdrawal slip. Cheque arrived about 5 days later.

    There's not much point IMO to send it by recorded delivery, unless sending it right at the last minute. If it goes missing, you can just ask for a new one. Also, "signed for" delivery just gets transported with the regular mail, only they get a signature at point of delivery. Special Delivery gets transorted separately and tracked at every point.

    Some BSs (think it was the Chorley) make a charge if your passbook goes missing.

    Posted some passbooks a few years ago and went missing and they wanted £10 per missing passbook. After 2 weeks, it was returned from the delivery sorting office for some reason, luckily just before I paid the £20.
  • adindas
    adindas Posts: 6,813 Forumite
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    glider3560 wrote: »
    There's not much point IMO to send it by recorded delivery, unless sending it right at the last minute. If it goes missing, you can just ask for a new one. Also, "signed for" delivery just gets transported with the regular mail, only they get a signature at point of delivery. Special Delivery gets transorted separately and tracked at every point.

    Did not you need to send the passbook ?? If you send the passbook, it is risky not to send via signed for. It will be a problem if it lost on their way to Leeds BS.
  • glider3560
    glider3560 Posts: 4,115 Forumite
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    adindas wrote: »
    Did not you need to send the passbook ?? If you send the passbook, it is risky not to send via signed for. It will be a problem if it lost on their way to Leeds BS.
    Yes, I did send the passbook.

    Their "lost passbook" form has an option to get a closure cheque in the event of a loss.

    People lose passbooks all the time. Most people aren't quite as organised as those of us on this thread! :rotfl:
  • GreenBitterfly
    GreenBitterfly Posts: 392 Forumite
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    Is the Leeds Building Society Regular Saver Issue 3, one of the continuous regular savers that previously had no maturity date? I've got Issue 4 that is a continuous regular saver.
  • mhoc
    mhoc Posts: 19,262 Forumite
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    GreenBitterfly wrote: »
    Is the Leeds Building Society Regular Saver Issue 3, one of the continuous regular savers that previously had no maturity date? I've got Issue 4 that is a continuous regular saver.

    Issue 4 - continuous but with a maximum holding of £6000 according to my notes - £250 a month allowed to be deposited that's 24 months - I've got January 2019 as my date when I reach that point - not sure how many withdrawals are allowed a year though - if its just one then I will remove £3000 and then keep it going for another year ...
    “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.”
  • mgarl10024
    mgarl10024 Posts: 643 Forumite
    First Anniversary Combo Breaker
    mhoc wrote: »
    Issue 4 - continuous but with a maximum holding of £6000 according to my notes - £250 a month allowed to be deposited that's 24 months - I've got January 2019 as my date when I reach that point - not sure how many withdrawals are allowed a year though - if its just one then I will remove £3000 and then keep it going for another year ...

    Or drop the monthly payment to £50 and withdraw £600? New to me, but that's my plan anyway... :)
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