First Direct Regular Saver has ended but not transferred to another saving account

vikkiew

My First Direct Regular Saver ended 4 days ago. Interest has been paid to the account but it still remains a "Regular Saver" showing at the previously available 6%. According to all documentation it was supposed to be transferred to a standard savings account, this has not happened, and I have manually transferred the amount to my current account. This isn't normal, is it? In one document it does say "the conversion process can take up to 5 working days" (which it hasn't been) but with similar accounts at other banks the interest would also not be paid during this time, it would appear after the account conversion.

I want to repeat the Regular Saver (now at 5%), I wouldn't continue using the same account would I? Should I try opening another Regular Saver or wait a few more days to see if the account conversion will happen?

Vortigern

Ring them. Apparently their customer service is excellent.

isasmurf

Vortigern wrote: »

Ring them. Apparently their customer service is excellent.

Don't believe the hype. They never once got anything right whenever I phoned them.

B_G_B

Mine matured a few days ago. Interest appeared one day and funds transferred to an existing e-saver the following day.

I was also able to open a new RS online. I'm sure that in the past this was not possible and needed to be opened by phone.

youngretired

This happened to my mum's account and I sent them a secure message and apparently in some cases it is taking the system longer to change the account name.

The system will/should still allow you to open the new regular saver straight away as it did for myself and my mum even when the old matured one's still showed as regular savers.

MallyGirl

same here - they didn't respond to secure message so I just emptied the RS and then applied for a new one. After a couple more days it reflected the removal of the old account online and then the creation of the new one.

pavane

Vortigern wrote: »

Ring them. Apparently their customer service is excellent.

As others have said. This site is in intended for collective sharing of knowledge and experiences.

vikkiew

The account's rate shows as 0.05% but the name is still showing as Regular Saver. I applied for a new Regular Saver on Wednesday and this has now been set up and my first transfer taken. So it appears as if I have 2 Regular Savers now although the old one isn't really.

Lokolo

vikkiew wrote: »

The account's rate shows as 0.05% but the name is still showing as Regular Saver. I applied for a new Regular Saver on Wednesday and this has now been set up and my first transfer taken. So it appears as if I have 2 Regular Savers now although the old one isn't really.

It will change after a few days.