Regular Saver Thread **New and Restarted**

Rich2808

Jimmithecat wrote: »

I’m very disappointed they are closing - I have been going into the frinton branch regularly for years and they are wonderful - there are just 3 people working there but they are brilliant - so friendly, efficient and customer focussed

Shame - they used to have a branch in Stratford east London (near Maryland station) - I could never understand why they closed it as its a busy area. Its a right hassle now to go to Brentwood so I just deal with them by post and online.

I think you are expected to go to Colchester now - but its not Frinton is it!

Re operating the regular saver online - if you open another online account with them you can view your regular saver balance and transactions but cannot apply for it online or transact on it before maturity as far as I am aware.

EachPenny

veryintrigued wrote: »

That's terrible news.

Thanks for the info.

It is terrible for the staff (although it looks like they work in multiple branches and/or have been offered redeployment) and also for the customers of the affected branches.

But it does look like they are all smaller branches in places close to larger towns with a branch, so perhaps it is true that they are trying to protect members interests generally by closing the unsustainable branches (rather than being part of a wider and ongoing branch closure programme).

Also, the closure of some branches might spur them on to improve their online offering and processes.

We can hope for the best (all round).

20SmthngSver

EachPenny wrote: »

It is terrible for the staff (although it looks like they work in multiple branches and/or have been offered redeployment) and also for the customers of the affected branches.

But it does look like they are all smaller branches in places close to larger towns with a branch, so perhaps it is true that they are trying to protect members interests generally by closing the unsustainable branches (rather than being part of a wider and ongoing branch closure programme).

Also, the closure of some branches might spur them on to improve their online offering and processes.

We can hope for the best (all round).

There was only some managers across the 11 branches managing two or several, so a few have been sacked. Other staff have been redeployed or offered redundancy. I've seen the same staff in both Sawb. and BS.

They said in the email it's not about cost cutting, but the branches aren't cost effective. I think it's just similar to Santander and the Lloyds group. Just cutting costs. And if they own the space it's probably being sold for development. Which is a shame as it's cutting jobs. Though as I mentioned above, S and GD are always empty. S is only two counters and a desk wide. Like the Santander in Ware, two counters and an ATM wide.

katsu

We had been dutifully waiting for our 6 months, but after seeing your post colsten have been able to get these opened and funded online. Only a few weeks earlier than our 6 months but every little helps. :money:

Having re-read their terms online, as they say "by post after six months, or online" I am wondering if this is something now available online all along and just not loudly publicised so that most of us dutifully wait

Thanks for the heads-up.

JamesRobinson48

I phoned the Saffron yesterday: explained that I've had their online account 5 months, their online system permits me to click to open an RSA now, and their published account conditions seem ambiguous on this point. The person insisted that a 6 months wait is required, other than where the RSA is opened face-to-face in branch. So I'm resigned to sitting out another month ... just hoping they won't pull this RSA in the meantime!

20SmthngSver

JamesRobinson48 wrote: »

I phoned the Saffron yesterday: explained that I've had their online account 5 months, their online system permits me to click to open an RSA now, and their published account conditions seem ambiguous on this point. The person insisted that a 6 months wait is required, other than where the RSA is opened face-to-face in branch. So I'm resigned to sitting out another month ... just hoping they won't pull this RSA in the meantime!

Their Regular Saver has been running for years, and it's very popular. But, as we know, products and rates can be pulled any time. If you've a passbook you can set up a Standing Order? Once matured they permit postal withdrawals too.

colsten

purplemusky

Hi - I have the Tesco Current Account with 3% and TSB Classic Plus Account I have £5,500 between the two accounts. With the interest rates changing I'm looking at changing accounts to maximise what I can. Can anyone advise what my best options are at present?

Steve_xx

purplemusky wrote: »

Hi - I have the Tesco Current Account with 3% and TSB Classic Plus Account I have £5,500 between the two accounts. With the interest rates changing I'm looking at changing accounts to maximise what I can. Can anyone advise what my best options are at present?

Strictly, this thread is for regular savings. However , leave the TSB as is because you will not do better than 3% on a current account. With the remainder you may consider opening a Marcus bank savings account paying 1.5%. On this thread there are several Regular Saver accounts paying 2%or so.

10_66

karlie88 wrote: »

A family member was unaware of the following, so I thought I would post to assist others:

Saffron BS' reg saver offers 3.5% on up to £200 per month and has historically (for many years) offered very good rates on its reg saver. Most of us know this.

You can only open the account in-branch or via post. However, to open via postal application you have to have held a savings account or mortgage with them for 6 months beforehand.

Fortunately, they offer an online e-saver account that can be opened and managed online.

Needless to say, he has opened an online e-saver.

You get the rest...

katsu wrote: »

We had been dutifully waiting for our 6 months, but after seeing your post colsten have been able to get these opened and funded online. Only a few weeks earlier than our 6 months but every little helps. :money:

Having re-read their terms online, as they say "by post after six months, or online" I am wondering if this is something now available online all along and just not loudly publicised so that most of us dutifully wait

Thanks for the heads-up.

Well, I know there are certain members of this forum who will hold their heads in their hands (even in a GIF, to boot). However, this website and forum is, after all, about helping others by sharing information, yes, even if that means the eventual downfall of a product. It’s selfish to do otherwise. So, I’d like to thank you Karlie88 for this information as I too have now benefited from it, and can confirm that, as katsu mentions, you don’t need to wait 6 months’ to open it online as I opened one yesterday having waited only 4 months.