first direct regular saver 8% to be withdrawn

ColdIron

The FP service is instant for me from Barclays, not sure about the limits though, I did ask and don't recall any alarm bells
Regarding your application, their customer service is excellent so I would apply now and give them a ring after an hour or so and ask

innovate

OnlyMe_08 wrote: »

Also, what's their faster payments service like - what experiences have people had with limits etc?

FP limits are at least £10,000 per day, more than plenty for the FD Reg Saver.
http://www.ukpayments.org.uk/faster_payments_service/value_limits/

Note that there is no guarantee that they will be instant - - the legal obligation banks have had since January 2012 is that payments must arrive by the end of the next business day. It is therefore advisable to send your money a clear business day or two before your absolute deadline.

MoneySaverLog

ColdIron wrote: »

Surely no lower than HSBC at 6% unless they are changing as well, any HSBCers confirm this?

I doubt it 6% is for Premier, otherwise now they offer 4%. FD are usually better with rates on this type of product so that's why I pitch it at 5% but may get 6%

innovate

MoneySaverLog wrote: »

I doubt it 6% is for Premier, otherwise now they offer 4%.

Since 3/9/2012 it has been 6% for HSBC Premier, HSBC Advance (Graduate) and HSBC Passport customers. 4% for the rest. Of course, if you got in before September, you are still on 8% or 6% respectivly.
http://www.hsbc.co.uk/1/2/savings-accounts/regular-savings-accounts/interest-rates

typistretired

I contacted them by secure message to tackle them about the notice saying new accounts and received the following reply

Re: Regular Saver Account

Thank you for your message dated 26-Jan-2013.

The Regular Saver Account is coming off sale temporarily from
01-Feb-2013.

It is hoped the account will only be off sale for a short period of time. I am afraid you can only hold one Regular Saver Account at a time and so you will be unable to open a new account until the account is available again.

Please contact us if you require anything further.

So I wouldn't be surprised that they launch another regular saver at a lower rate within days.

bsms1147

OnlyMe_08 wrote: »

Thanks for the replies.

If I applied today, will I know whether my application has been successful immediately?

How long would it take for them to send me details so I could log into my account online and apply for the Regular Saver? Will I be too late for this?

Also, what's their faster payments service like - what experiences have people had with limits etc?

Thanks.

Set up a 1st account online, takes a few minutes; phone FD up once done and jump through the security hoops, again, a few minutes; receive internet banking details with this phonecall, register for internet banking once phonecall is done.

At some point you have to put money in the account - either do this between set-up and the phonecall (you'll have been given sort-code and account number at the end of the online application), so you'll have funds in there by the time you phone up and they set up the regular saver over the phone at the same time as you do the security/telephone banking registration; or add funds at the end, once youve made the phonecall and have access to online banking, in which case you apply for the regular saver online.

All in all you can go from no FD accounts to having a 1st account, e-saver and regular saver in the space of a morning, so don't let this deadline lead you to believe you've missed the boat.

guitarman001

Rung them up just to make sure I was still meeting all the criteria for the 8% from the regular saver - I am, and it ends 11th June for me. Got to say that their customer service really is TOP NOTCH - answer on the phone straight away, no waiting around for decades, chirpy, helpful and straight to the point. If it's possible to like a bank, then I like them.

Hmm, I started the account when I was paying 20% tax and now I'm in the 40% band - I assume when I get my interest I'll just take another 20% off it (even though I think the interest is cumulative over time so I shouldn't pay the extra 20% on ALL of it...)?

house_help

I had applied for 1st account last Friday and got instant acceptance at the end (I have previously applied and could not be opened due to need ID and them being quite strict on what they wanted), this time no ID needed so assume they were able to do it electronically - last time I had been in new house probably only 6 months (but on electoral role).

Anyway on seeing this (one of the reasons for switching was the reg savers) I rang them up tonight and got the numbers I needed to get online banking, transferred money via BACs into the 1st account which appeared instantly and opened the reg saver. Took about 10 minutes to complete.

Thanks for the heads up from original poster.

watcher13

FD have a nice product particularly the internet banking. Faster payments are virtually instantaneous for amounts less than £10K. Once you are an account holder and satisfy the requirements, applying for other products is very easy.

However with all banks, you need to learn the rules of the game to make the most of the system.

sabretoothtigger

I tried to phone them as they requested but they dont answer the phone :laugh:
Is there a special number to try ?

They said I can use internet banking but I have to phone, isnt that missing the point. I prefer to not be phoning, etc I can type 50wpm so internet is way easier to juggle account details, etc

I guess their helpdesk has become overwhelmed by applicants