Regular Saver Thread **New and Restarted**

Speculator

Looks like Saffron are no longer allowing a 13th payment because just had this months payment returned.

Checked my passbook last week and noticed they allowed a 13th payment last year which was why I did not cancel the standing order.

Ed-1

Principality Learner Earner account withdrawn and replaced with Issue 2.

Looks much the same but doesn't mention £10 vouchers...

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

granta

Can someone confirm what the earliest you can open your next regular saver after an existing one matures please? If mine is maturing on 2nd October, can I open one later that day or is it the next day?
HSBC say it can take up to 5 days for the maturing funds to be made available so I am wondering if during that period it will let me open a new account online?

glider3560

Speculator wrote: »

Looks like Saffron are no longer allowing a 13th payment because just had this months payment returned.

Checked my passbook last week and noticed they allowed a 13th payment last year which was why I did not cancel the standing order.

Same for me. The return payment wasn't even very description: just a long number that looks like the date and time the payment was made. Nothing to mention it was from Saffron.

hgt

There's an interesting thread regarding First Direct slashing the rate on their Regular Saver, it does appear to be valid information as it's included in a PDF on the FD site...
https://forums.moneysavingexpert.com/discussion/6054226/first-direct-reduction-in-interest-rates-including-regular-saver

The rate is fixed for 12 months, so anyone with an account already will keep the rate, but it looks like new accounts after 3rd October will be paying 2.75%.

I suspect there is no point even trying to close my existing account to sneak in a new one at the old rate before the rate drop, as I doubt my old one would close by end of play tomorrow!

Speedster2

hgt wrote: »

There's an interesting thread regarding First Direct slashing the rate on their Regular Saver, it does appear to be valid information as it's included in a PDF on the FD site...
https://forums.moneysavingexpert.com/discussion/6054226/first-direct-reduction-in-interest-rates-including-regular-saver

The rate is fixed for 12 months, so anyone with an account already will keep the rate, but it looks like new accounts after 3rd October will be paying 2.75%.

I suspect there is no point even trying to close my existing account to sneak in a new one at the old rate before the rate drop, as I doubt my old one would close by end of play tomorrow!

I’ve had 4 or 5 of these in succession but I don’t know if I’ll bother again at 2.75%. I can see me binning all interest- attracting accounts and throw everything at my Offset mortgage instead in future.

Wheres_My_Cashback

granta wrote: »

Can someone confirm what the earliest you can open your next regular saver after an existing one matures please? If mine is maturing on 2nd October, can I open one later that day or is it the next day?
HSBC say it can take up to 5 days for the maturing funds to be made available so I am wondering if during that period it will let me open a new account online?

Once matured you can set to close the old one and open the new one by phone in the same day. Do it online and yes, it can take up to 5 days.

vermania

Wheres_My_Cashback wrote: »

Once matured you can set to close the old one and open the new one by phone in the same day. Do it online and yes, it can take up to 5 days.

Just to note, my experience of M&S was different from HSBC and FD; though I moaned about drifting renewal dates (as evident with all three accounts if renewed online), they weren't able/didn't want to renew it over the phone for me. And thus the date moved another day or two.

granta

Wheres_My_Cashback wrote: »

Once matured you can set to close the old one and open the new one by phone in the same day. Do it online and yes, it can take up to 5 days.

Thanks! I guess 30 minutes' wait in the phone queue will be worth it if I can get one opened asap and hopefully before the interest rate gets lowered which sounds imminent...

typistretired

hgt wrote: »

There's an interesting thread regarding First Direct slashing the rate on their Regular Saver, it does appear to be valid information as it's included in a PDF on the FD site...
https://forums.moneysavingexpert.com/discussion/6054226/first-direct-reduction-in-interest-rates-including-regular-saver

The rate is fixed for 12 months, so anyone with an account already will keep the rate, but it looks like new accounts after 3rd October will be paying 2.75%.

I suspect there is no point even trying to close my existing account to sneak in a new one at the old rate before the rate drop, as I doubt my old one would close by end of play tomorrow!

First Direct's website is still saying 5%