First Direct Regular Saver 8%

bohemia

I also had a week's delay between my regular saver maturing and being able to withdraw the money. I sent them two crabby mails about the wait and then a customer service lady rang me to apologise. Got no extra interest though!

emuzeg

Ifts wrote: »

They will probably know why you are doing it, if they do ask just say its different savings pots for different things.



No.



Don't think so otherwise they would have changed their T&Cs to stop people doing this if it was a problem for them. Probably just trying to get their account numbers up. Have not done it myself but plenty of people on here have got it set up where they just move the same £1k through the accounts to get the reward.

Superb! I have opened my regular saver with first direct and stuck in 300 for the first month. I'll change the sto though before the next instalment.

I'll also go and open a Halifax Reward account next week and then shift 1k between accounts each month. Thanks for all your help and advice!

Edit: So I have opened the Regular Saver but the account is not visible on my internet banking screen - just 1st Account and Everyday e-saver is. Will it appear or not?

Nine_Lives

Out of interest, can you change the daTE that your deposit is made?

I think i set mine up on the 25th of November, but i'd ideally like to deposit on the 1st of the month.

MarkFromCornwall

emuzeg wrote: »

So I have opened the Regular Saver but the account is not visible on my internet banking screen - just 1st Account and Everyday e-saver is. Will it appear or not?

Yes, I'd expect it to appear by Monday at the latest.

apt

K_P83 wrote: »

Out of interest, can you change the daTE that your deposit is made?

I think i set mine up on the 25th of November, but i'd ideally like to deposit on the 1st of the month.

No you can't change the date.

typistretired

bohemia wrote: »

I also had a week's delay between my regular saver maturing and being able to withdraw the money. I sent them two crabby mails about the wait and then a customer service lady rang me to apologise. Got no extra interest though!

I wouldn't have that get on to them again and demand the extra interest! I was told by their customer service that the regular savings were still attracting 8% while it was being converted into a ordinary savings account. I complained that you cannot commence another regular saver until the account is converted and it takes 5 working days so 7 days including weekend. The interest accrued up to conversion was £3 odd and they rounded it up to £5. This happens every year as the savings account which the regular saver converts into just disappears.

AirlieBird

typistretired wrote: »

I was told by their customer service that the regular savings were still attracting 8% while it was being converted into a ordinary savings account. I complained that you cannot commence another regular saver until the account is converted and it takes 5 working days so 7 days including weekend.

Not true at all. You can open a new Regular Saver the day the old one matures. The old Regular Saver will still show on internet banking and appear as it is still open, but it has been closed in the back office systems.

typistretired

AirlieBird wrote: »

Not true at all. You can open a new Regular Saver the day the old one matures. The old Regular Saver will still show on internet banking and appear as it is still open, but it has been closed in the back office systems.

Well my better half and I both attempted to open a new regular saver and the system would not allow us. Customer Services confirmed that until the regular saver was converted into a ordinary savings account this would happen. Each year the commencement date for my regular saver goes forward started on 1st of month now starts 17th.

lucky77

Last year I closed my regular saver on the phone and it took a few days before I could open a new one. This time I opened a new regular saver online on the maturity date with no problem.

Vortigern

Before your regular saver matures you should ensure that you have an everyday e-saver account open in the same name (not joint names) as the regular saver. Don't put any more than a pound in there - the interest rate is very low. When the reg saver matures, the balance will transfer immediately to the e-saver and you can start another reg saver. Transfer cash from e-saver to current account (leaving £1 in the e-saver for next year) - then onward by FP to wherever you wish.