Regular Saver Thread **New and Restarted**

Chooser

SANTANDER REGULAR SAVER
Hoping someone here can advise, my partner and I both have a 123 (old style, not lite) and a RS, with two payments short of a year. We have recently bought a property so emptied the 123s, except for £1000 each, basically to cover the next two £200 payments to RS. I have now realised that we are still paying the £5 monthly fee, it would be best to just shut the 123s down, no longer needed. I emailed to ask what happens to the RS if no further money paid in, I think that is ok, but is the maturing and paying of the interest dependent on having a 123? Answer was incomprehensible and I'm none the wiser. Would we still get full interest on what's been paid in, would we have to wait until 12 months, if yes could it be withdrawn without the 123 to pay it into. Not keen on paying the monthly fee if can avoid it. thanks.

ctdctd

Chooser wrote: »

SANTANDER REGULAR SAVER
Hoping someone here can advise, my partner and I both have a 123 (old style, not lite) and a RS, with two payments short of a year. We have recently bought a property so emptied the 123s, except for £1000 each, basically to cover the next two £200 payments to RS. I have now realised that we are still paying the £5 monthly fee, it would be best to just shut the 123s down, no longer needed. I emailed to ask what happens to the RS if no further money paid in, I think that is ok, but is the maturing and paying of the interest dependent on having a 123? Answer was incomprehensible and I'm none the wiser. Would we still get full interest on what's been paid in, would we have to wait until 12 months, if yes could it be withdrawn without the 123 to pay it into. Not keen on paying the monthly fee if can avoid it. thanks.

T&C's say "To be eligible for the higher interest rate you must be a 1I2I3 World or a Santander Select customer at point of opening " so you should be fine for maturing and interest.


Withdrawals are fine and won't affect the interest except for having a smaller balance.
Nothing to stop you closing the accounts in branch or by post and you should get interest to date.
Not sure how you get funds out without a Santander CA so maybe close the RS's and get the funds, then close the CA's?

soulsaver

Or go joint lite - Only 1x £1 pm fee, cashback on the household utility, council tax, telecoms bills and EACH of you can have 5% rs... if you owt left to put in 'em.
Best wishes with the property.

ceredigion

soulsaver wrote: »

Or go joint lite - Only 1x £1 pm fee, cashback on the household utility, council tax, telecoms bills and EACH of you can have 5% rs... if you owt left to put in 'em.
Best wishes with the property.

There's no need to pay £1 PM on the S123 lite.

polymaff

ceredigion wrote: »

There's no need to pay £1 PM on the S123 lite.

If you're happy to cut off your nose to spite your face.

ceredigion

polymaff wrote: »

If you're happy to cut off your nose to spite your face.

Just pointing out if you want the 5% and nothing else you don't need to pay a £1 a month.

polymaff

Just pointing out that your previous post lacked balance.

-- or --

shame that you didn't

ceredigion

polymaff wrote: »

Just pointing out that your previous post lacked balance.

-- or --

shame that you didn't

Some times you just cant win.
The other day I gave a perfect valid answer to something but was outside the remit of the thread and then criticised for it. Today make a perfectly valid comment ,deliberately keeping within the remit of the thread and someone gets the hump.

bob792

Newcastle BS Regular Savings (adult and children versions)

First page shows this as:
How to open account: Branch

It's actually:
How to open account: Branch (children), Branch or Online (adult)
https://www.newcastle.co.uk/savings/savings-types/regular-saver/

I opened mine online. It can't be operated in Branch.

veryintrigued

veryintrigued wrote: »

Any news here please?

Decided to withdraw the bulk of the balance and reduce the monthly credit to £10.