Chorley Santa Saver

chookie1

Just in case anyone has one...

The accounts get emptied at the end of the month, and I rang up to check whether I needed to cancel my standing order.

What I was told is that they transfer the balance less £1 to the linked account. This £1 keeps the regular saver open, and it can continue indefinitely. The lady I spoke to said that although the rates were flexible, at the moment there were no plans to change them, so the original Santa Savers currently get 5% and the 2nd issue get 4%.

premierfella

I hope that proves to be the case - I was expecting the Santa Saver issue 1 to fall to the current 4% rate for the "new" saving year, so this would be a bonus!

Speculator

The Santa Saver interest rate is variable and not fixed.

When I opened my account last year, it paid 4.5% but the rate was reduced to 4% on 21st of April 2010 according to their website so I doubt it will pay 5% for the new saving year.

Careful_ly

Issue 2 is paying 4% issue 1 still paying 5%
http://chorleybs.co.uk/index.php?option=com_content&task=view&id=156&Itemid=432

I spoke to someone at Chorley last month who also thought it would be paid at a higher rate for issue 1 when reset for new savings year.

Milarky

For some reason my Santa saver and Summertime saver accounts have both been 'disappeared' from Chorley's 'U-2-View' service - so I have just 'added' them again.

Soupersaver_2

I've never heard of Chorley BS? Their website looks so tacky as well... are they under the FSCS?

Baldur

Soupersaver wrote: »

I've never heard of Chorley BS? Their website looks so tacky as well... are they under the FSCS?

All UK building societies are subject to the FSCS.

Speculator

Ignore my previous post. I didn't realise there were two issues of the Santa Saver.

Speculator

Santa Saver 1 still paying 5% matures next month and the balance less £1 goes into your linked Chorley a/c.

Well done to Chorley for keeping it at 5% bearing in mind it's a variable rate a/c.

Just wanted to make people aware that it appears the MOB of the "paid up share" account has been reduce from £25 to only £1.

There is an account called the "paid up" a/c listed on the closed issues pdf with a MOB of £1.

[Deleted User]

Soupersaver wrote: »

I've never heard of Chorley BS? Their website looks so tacky as well... are they under the FSCS?

Don't worry about investing with the Chorley. They ARE covered by the FSCS. No worries there.

They are also my local building society, and the staff are so friendly. I can't recommend them enough. You can operate accounts via post as well though if you don't live in the area.

I have the Santa and Summertime regular saver accounts, both first issue. I also have a Chorleian account into which the funds from both regular saver accounts flow on maturity. As another post on this forum states, they transfer everything except £1, which in effect keeps your regular saver open for another year.

Congratulations to the Chorley for offering two Regular Saver accounts, maturing at different times of the year - November on the Santa (just in time for Christmas), and May for the Summertime (just in time for the Summer holidays). I don't know of any other society offering this. In addition, well done for maintaining the excellent interest rates, despite the accounts being variable rate.

First class Chorley :T