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Regular Saver Thread **New and Restarted**
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Roland_Flagg wrote: »Will the new Virgin RS 2% have new issues every month like the former in branch 3% RS?
The 'in branch' RS account was every 2 months, as was the previous on line version; so unlikely IMO.0 -
In case it's of any use:
They do a FP or a cash withdrawal over the counter up to £5000 with a minimum of 48 hours notice.
If you are are closing the account (as I am) the book etc is then sent to HO to recalculate the bonus and the remaining balance is posted by cheque. The branches can't close the account while you wait (unlike Virgin for example).
An appointment is advisable - mine is noted for next Monday.
The person I spoke to showed certain signs of being a bit unsure but I concluded that the gist may be OK. Obviously I was aiming for the earliest date for my money to be earning interest but that seemed to be the best I could achieve.
I am keeping mine (wifes) going for the foreseeable future. Our bonus date is October and I contacted their head office and they confirmed we would earn 2% until Oct 20 i.e., the reduced rate of 1.5% plus .5% bonus.
If I withdraw now I have nowhere to earn a better rate so might as well leave it and face the problem in 11 months time.0 -
stphnstevey wrote: »Looking to see what happens if need to make withdrawal with Halifax Regular Saver. It says you need to close but doesn't say what interest receive. Normally this would be a much lower rate, but can't see this specifically and looked on website and in T&Cs. Anyone know?
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.0 -
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.0
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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.0 -
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
For those new to this thread, the first few posts are constantly updated and are on the first page0 -
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!0 -
flergalwit wrote: »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!
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.0 -
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