Regular Saver Thread **New and Restarted**

schiff

I'm currently turning my back on RSs giving under 2.5% interest but I did keep the Bank of Scotland RS going even though it was at 2%, because I was allowed to make penalty free withdrawals. I had chosen that account over the Halifax version as the latter didn't allow withdrawals.

bristolleedsfan

vermania wrote: »

I rang them up to ask to close my account about 3 weeks early (other regular savers on standing orders would've caused a cashflow issue) in May this year. The guy at Halifax said there would be a penalty for early closure. I haven't seen it in writing and have no idea where that comes from, but in talking it over with him he put me off the idea. Very happy to be corrected by others though that was my experience. Please try ringing them and let us know what they say.

I'm now minded not to use the 2% regular savers that lock away the money this way, but if you've got all other available accounts above 2% and spare cash, it's ok.

No penalty for early closure, I closed mine early via a branch as wanted to put the funds in a 36 Month fixed term account.

Special_Saver2

Hi Folks,

Here is this weekend's update.

- Leek United removed from the list on page 1 as the interest rate is dropping below 2% on Monday

- Earl Shilton account entry updated with current terms and conditions including a min £10 per month deposit and that if you do not make 12 separate monthly payments then the account will be closed and you will be charged a £10 penalty (which I have highlighted in bold and asterisked and it sounds like a terrible condition to me)

- Principality BS Christmas 2020 Regular Saver Bond maximum monthly deposit corrected from £150 to £125 in my entry (and I have double checked the Principality BS Dylan Regular Saver Bond £150 I had put down in my entry for that account is correct) and added that this account can be opened online

I will do the next update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are on the first page

flergalwit

The OP and the MSE regular saver page says that the Coventry BS regular saver can be opened online. However when I try to do this, after completing the application it gives me a form to print out, saying I need to provide a signature and two pieces of id, and post it off. Or you can ask them to post the completed form to you, to sign, provide id and send back to them.


So as far as I can tell, you can't apply online (unless I'm an exception for some reason), only by post or in branch.


The two pieces of ID are difficult to come by too. One is to certify who you are, another for the address. For the former you need, for example, a certified copy of your passport, and banks won't do this certification any more. Apparently the post office will do it for £12, which erodes a significant chunk of the interest. As far as I can tell, the doctor is my best bet, or actually finding a branch (presumably Coventry BS would make a copy if I brought my passport with my application). Any other suggestions? Thanks!

veryintrigued

IanManc wrote: »

Bear in mind that your doctor is entitled to charge for certifying a document, as doing that is not part of their NHS contract and is private work. You are likely to be charged more than the £12 that the Post office charges.

And has probably a million better things to do......

ColdIron

IanManc wrote: »

Bear in mind that your doctor is entitled to charge for certifying a document, as doing that is not part of their NHS contract and is private work. You are likely to be charged more than the £12 that the Post office charges.

My doctor charged me £33

colsten

flergalwit wrote: »

So as far as I can tell, you can't apply online (unless I'm an exception for some reason), only by post or in branch.

You appear to be an exception as I know of plenty of people, including myself, who have opened Coventry accounts entirely online. Being asked for proof of ID is a bit of a PITA but it happens (not just at Coventry) when they cannot confirm your ID online. Online checks are made against the Electoral Register and against Credit Reference Agency files.

MarkFromCornwall

flergalwit wrote: »

Any other suggestions? Thanks!

The list of people who can certify documents varies from one bank to another. Once when I needed a document certified I got an optician to do it in return for a donation in their charity box. The Coventry's list includes dentists and teachers and I reckon these might be a better bet than bank or post office people!
https://www.coventrybuildingsociety.co.uk/consumer/help/identification.html

dcs34

Hi all,

Any insight on when Principality BS will withdraw/close their Christmas 2020 Regular Saver Bond to new holders? And am I right in thinking this account is not restricted to operating area postcodes, unlike their other accounts?

Ideally I want to wait to Jan if possible to open as my RS are getting too clumped around November and December - but from the name will it still be available in the new year? Plus it's just been added to the MSE weekly email so they're probably already had quite a few applications today and this week!

jen49

dcs34 wrote: »

Hi all,

Any insight on when Principality BS will withdraw/close their Christmas 2020 Regular Saver Bond to new holders? And am I right in thinking this account is not restricted to operating area postcodes, unlike their other accounts?

Ideally I want to wait to Jan if possible to open as my RS are getting too clumped around November and December - but from the name will it still be available in the new year? Plus it's just been added to the MSE weekly email so they're probably already had quite a few applications today and this week!

Hi DCS I've just opened this account o it doesn't seem to be post code restricted also it said 30 days from opening to put first funds in so that would be January before any funds are needed HTH