Regular Saver Thread **New and Restarted**

adindas

Vortigern wrote: »

I was told by TSB that I could ring and ask for an account closure pack. They would post this to me and I would have to post it back.

They said not allowing online closures is a policy decision.

I'll just leave the accounts empty till they go dormant.

Will it automatically be closed if you let it dormant with NIL balance for a year (say) ?.
Some people here prefer not to engange with TSB in person.

typistretired

My first direct regular saver matured today however when I logged in today there was no sign of the matured funds. The good thing is I have been able to open another regular saver straight away while I wait for my matured regular saver with interest to show in my accounts. Change from last year when you could see the matured regular saver with interest but could not access them until they moved to an easy access savings account. I have an easy access savings account but they have not arrived there yet.

karlie88

adindas wrote: »

Will it automatically be closed if you let it dormant with NIL balance for a year (say) ?.
Some people here prefer not to engange with TSB in person.

3 easy savers here with £0. Oldest one has had no activity for just under 2 years. Daren't contact them, daren't go to a branch...I'm happy with my easy savers as they are. :cool:

typistretired wrote: »

My first direct regular saver matured today however when I logged in today there was no sign of the matured funds. The good thing is I have been able to open another regular saver straight away while I wait for my matured regular saver with interest to show in my accounts. Change from last year when you could see the matured regular saver with interest but could not access them until they moved to an easy access savings account. I have an easy access savings account but they have not arrived there yet.

Money should appear tomorrow or Thurs. Likewise your new reg saver will take a couple of days to appear. HSBC is even slower. Note: whilst you think you've opened your reg saver today, it's not actually opened until someone deals with your application...so could be opened tomorrow or Thurs (you can tell from your first £300 transfer from your 1st account).

One year my reg saver matured on Sat, opened new account online on Sat, new reg saver actually opened on Wed.

The problem with leaving them to mature automatically/opening a new one online means you will 'lose' out on a few days every year. It's particularity annoying if your reg saver matures on a weekend/bank holiday.

The only way to have the matured funds ready on the day with a new reg saver opened on the same day is to phone them, but it takes a good 20 minutes+ of your time.

Can't grumble though..it's a 5%er.

20SmthngSver

Does anyone know if you close a Nationwide Flex Regular Saver 5% early if they pay a reduced rate of interest?

badger09

20SmthngSver wrote: »

Does anyone know if you close a Nationwide Flex Regular Saver 5% early if they pay a reduced rate of interest?

It is instant access, so why would they pay a reduced rate?

eskbanker

badger09 wrote: »

20SmthngSver wrote: »

Does anyone know if you close a Nationwide Flex Regular Saver 5% early if they pay a reduced rate of interest?

It is instant access, so why would they pay a reduced rate?

First Direct's regular saver is instant access (in the loose sense that the funds can be accessed instantly, albeit only by closing the account in full) but pays reduced interest for early closure.

However, Nationwide doesn't have a similar condition in its Ts & Cs: https://www.nationwide.co.uk/-/media/MainSite/documents/products/savings/terms-and-conditions/P3434-flex-regular-online-saver.pdf

Many of us closed these accounts early in the few days between announcement and product withdrawal, and received the 5% AER interest up to the date of closure as expected: https://forums.moneysavingexpert.com/discussion/5985200/nationwide-to-axe-5-regular-savings-account-on-friday

20SmthngSver

badger09 wrote: »

It is instant access, so why would they pay a reduced rate?

As it's no longer on sale I can't see the MSE box on the RS page. Was just checking as First Direct's is instant access in the sense that you can close it anytime, they will just pay 0.05% on it instead of 5%. Wasn't sure if Nationwide was the same.

typistretired

typistretired wrote: »

My first direct regular saver matured today however when I logged in today there was no sign of the matured funds. The good thing is I have been able to open another regular saver straight away while I wait for my matured regular saver with interest to show in my accounts. Change from last year when you could see the matured regular saver with interest but could not access them until they moved to an easy access savings account. I have an easy access savings account but they have not arrived there yet.

Have received the matured funds and the first deposit has been sent to my new regular saver today.

mhoc

Childrens account

https://www.principality.co.uk/savings-accounts/childrens-savings-accounts/Learner-Earner#module-6=0

Principality Building society

Learner Earner

Interest rate: 4% gross p.a. variable
Monthly payment: maximum £250 per month
Penalty-free withdrawals: 3 withdrawals per year, closure counts as a withdrawal
Age of applicant: This account can only be opened in conjunction with an adult aged over 18
How to open account: Branch

This Account can only be opened by an Adult(s) aged over 18, in conjunction with a Child aged under 18. Two accounts must be opened initially, one for the Adult(s) and one for the Child. Subsequent accounts for other children can be opened by the Adult account holder. The Adult must be the parent, grandparent, close relative or legal guardian of the Child(ren).
Accounts opened for under 14’s must be opened on a signatory basis.

Also "fun and educational children’s activity packs for ages 5 – 11 years old, a moneybox, a story and sticker book, as well as a £10 reward voucher (for two years annually)".

schiff

In post 1 when you've a minute this needs changing:

Nottingham BS Special Regular Saver (Issue 8)

Interest rate: 2.5% gross p.a. variable from 5th January 2017

Should be July 2019.