Chesire 8% Coming to a End Soon

Dagobert

mary wrote:

Live far , far away from Ipswich.

Yeah, somewhere in the south-east in Stroud & Swindon territory.

Presumably you have noticed by now that the Ipswich BS regular saver is open to everyone now?

mary wrote:

I'm not sure whether midway through a Regular Saver you can switch supplier of the SO or whether you have to stay with the same one throughout the 12 month period.

Of course, you can switch accounts at any time as long as you make sure that the payment hits the regular saver within its T&Cs.
A SO is nothing but a repeating BACS transfer. So, in fact, you don't need to set up a SO at all; you could do 12 manual BACS transfers from varying sources thereby also avoiding weekend transfers.

mary wrote:

I guess it's become a bit of a hobby.

We seem to share the same hobby - I'm up to 16 now.

Dagobert

rangers_fc wrote:

How do we withdraw from this account after the anniversary i.e get our cash back + interest without penalties?

At maturity the regular saver account empties into an Easy Saver, which you opened at the same time for this purpose.

Phone* the Cheshire BS and ask for a withdrawal form. I would suggest to do this well in time before your account matures as you do not want the money to kick around in the Easy Saver at 3.35 %.

On the withdrawal form, you can specify how the money should be paid out. BACS transfer into a specified account is one option and this is ideal. A lot of banks send out cheques, which loses days. For the withdrawal you will have to send in your Easy Saver passbook.

*(0800) 195 1514

Dagobert

The skill in operating these regular savers lies in optimizing the transfer times; or the interest gain you made in the first place would soon be lost. You need to inquire well in advance what the withdrawal options and requirements are.

I have been stung once: it took 10 days till the cheque from Abbey arrived at cahoot, during which period the money earned 0.75%. Had I not inquired beforehand the procedure would have been even further delayed as Abbey requested proof of id for the withdrawal.

Milarky

Dagobert wrote:

Existing Cheshire regular saver customers will be offered to continue saving into the same account at 6%.

Is this the 'emptied' account you are referring to - as they sent out two passbooks? I assume the 6% rate is therefore a 12 months fixed rate also?

[Just called your 0800 number. They confirm that a letter covering this is in the process of being sent out to RS customers - He didn't say what, and I was too polite to ask - but it does appear that the Cheshire is looking to do a repeat offering - albeit at not quite such a good rate. Keep checking the post!]

Thanks

M

Dagobert

Milarky wrote:

Dagobert wrote:

Existing Cheshire regular saver customers will be offered to continue saving into the same account at 6%.

Is this the 'emptied' account you are referring to - as they sent out two passbooks?

The regular saver continues at the new rate of 6%.

Kazza242

Dagobert wrote:

At maturity the regular saver account empties into an Easy Saver, which you opened at the same time for this purpose.

I just spoke to the Cheshire a moment ago to enquire into the withdrawal form you mentioned.

Interestingly, the two advisors I spoke to, both told me of a change that has been made to the regular saver on maturity. They said that the balance in the regular saver (in my case £6K that has accumulated since Sep 2005) will remain in the regular saver and not be swept out. According to both of them, the interest accrued over the year (05-06) will be paid into the Easy Saver, but the balance will stay put and will then receive 6% interest over 06-07. Customers will be able to continue depositing up to £500 per month.

They mentioned the mass mailout being sent to customers which we should receive before the end of August. I will wait to see what the letter says.

If their information is correct, then I'll be very pleased indeed.:D

Dagobert

Kazza242 wrote:

the two advisors I spoke to, both ... said that the balance in the regular saver ... will remain in the regular saver and not be swept out. According to both of them, the interest accrued over the year (05-06) will be paid into the Easy Saver, but the balance will stay put and will then receive 6% interest over 06-07.

I just spoke to an advisor. When I said a friend of mine had been told only the interest would be swept out, he confirmed with a colleague that the whole balance would be moved to the Easy Saver.

mary

Dagobert wrote:

Yeah, somewhere in the south-east in Stroud & Swindon territory.

A mere technicality - but South West!

Dagobert wrote:

Presumably you have noticed by now that the Ipswich BS regular saver is open to everyone now?

Thanks for that, I didn't know. Off to investigate.

Quite curious as to where you have your 16. I'm a bit behind with 11.
10% Bradford & Bingley
10% A&L
10% Barclays
8% Lloyds
7% Halifax
7% Leeds
7% Stroud & Swindon
7% Abbey
6% Principality x 2
6% Leek

Kazza242

mary wrote:

A mere technicality - but South West!



Thanks for that, I didn't know. Off to investigate.

Quite curious as to where you have your 16. I'm a bit behind with 11.
10% Bradford & Bingley
10% A&L
10% Barclays
8% Lloyds
7% Halifax
7% Leeds
7% Stroud & Swindon
7% Abbey
6% Principality x 2
6% Leek

Mary, the Scarborough BS regular saver, paying 6% on deposits of up to £250 per month looks good. There is no term on this account and it allows you to build up a balance of up to £15,000 before the account is converted into a lower paying account. As this is a variable rate account, the rate may increase following the BOE's decision today to raise base rate to 4.75%. More info here.

Dagobert

mary wrote:

Dagobert wrote:

Yeah, somewhere in the south-east in Stroud & Swindon territory.

A mere technicality - but South West!

I am one of these people who confuse left and right and East and West 99% of the time.

mary wrote:

Quite curious as to where you have your 16. I'm a bit behind with 11.

• 5.00% Derbyshire
• 5.25% Principality (Monthly Saver)
• 6.00% Principality (Regular Savers Bond)
• 6.00% Leek
• 6.00% Scarborough
• 7.00% Halifax
• 7.00% Chorley
• 7.00% Leeds
• 8.00% Ipswich
• 8.00% HSBC
• 8.00% Norwich & Peterborough
• 8.00% Cheshire
• 8.00% TSB
• 8.00% Abbey
• 10.00% Bradford & Bingley
• 10.00% Barclays

I wish I could figure out how to get the Stroud & Swindon r/s. I am venturing down to North Wales next week. But that's as far South as I'll get.