Regular Savings Accounts: The Best Currently Available List!

tg99

steve65e wrote: »

More fun and games with Virgin.

I've just tried to open a branch RS2. There wasn't an adviser available but I was able to fill in an application form and leave it with a cheque. I was told the account would be opened at head office but it would be 'statement based', so I wouldn't get a passbook or be able to pay cash in.

Is this really a thing? We'll see what the postman brings....

They should be able to post you a passbook as that's what they did for me earlier this month when head office opened my branch RS1.

Andystriker

ashteadgirl wrote: »

Think things are getting serious - have 31 RS accounts!!!! Need help :T:T

I have just added mine up. I have a total of 34 active regular savers in my sole name.

ashteadgirl

Andystriker wrote: »

I have just added mine up. I have a total of 34 active regular savers in my sole name.

Very impressive! Obviously 2 RS nerds! :beer:
Are there any more of us out there????

Frogletina

ashteadgirl wrote: »

Very impressive! Obviously 2 RS nerds! :beer:
Are there any more of us out there????

I've only got 12 - I feel like a beginner...

frogletina

schiff

Steve_xx wrote: »

Why not login to your TSB account and simply transfer whatever to wherever you want?

That's more or less what I've decided to do. Monitor the account on the final day, when the interest goes in, FP to my TSB Classic or my Santander.

afmfifgh

schiff wrote: »

My TSB RS matures on 3 Feb. The balance I'm told will be put into a minimum interest account. I've had letters asking me to tell them how I would like it dealt with, I assume other than being put in the minimum interest account.

So I phoned up to ask for the balance to be transferred to the Santander account which has funded it. I doubt if I will want to start another TSB regular saver as I can get better than 2% elsewhere.

But the answer was that I can only do this by going into a branch! The MOS was not very well clued up. Have people in this situation found this to be the case or was the MOS mistaken (which can happen!)?

I was trying to save them the bother of opening an account that I would close instantly.

Not sure what you mean by MOS but I have not been able to close mine. What happened to me was that I tried and failed to close it online so rang up and was told I would need to write to my branch to request it be closed or visit the branch (not an option). So I wrote to the branch and never heard back and the account remained open.

Some weeks later I rang up to enquire why my instruction had not be processed and they told me it was because they didn't have a copy of my signature on file as I had opened the account online. So they told me I would need to visit the branch to have it shut and bring in some photo ID.

As I am unable to access a branch I said I will just have to leave the account open forever which is a ridiculous situation especially in that if you can open the account online I felt you should be able to close it online. But I was told it was for security reasons. Which to me makes no sense as I explained surely if I can pass the security to log in and empty the account of all funds surely that is sufficient security to pass in order to close the account.

Unfortunately not Sir, you will need to visit the branch and bring in ID.

Madness!

YorkshireBoy

afmfifgh wrote: »

Not sure what you mean by MOS

Member of staff?

mgarl10024

afmfifgh wrote: »

Not sure what you mean by MOS but I have not been able to close mine. What happened to me was that I tried and failed to close it online so rang up and was told I would need to write to my branch to request it be closed or visit the branch (not an option). So I wrote to the branch and never heard back and the account remained open.

Some weeks later I rang up to enquire why my instruction had not be processed and they told me it was because they didn't have a copy of my signature on file as I had opened the account online. So they told me I would need to visit the branch to have it shut and bring in some photo ID.

As I am unable to access a branch I said I will just have to leave the account open forever which is a ridiculous situation especially in that if you can open the account online I felt you should be able to close it online. But I was told it was for security reasons. Which to me makes no sense as I explained surely if I can pass the security to log in and empty the account of all funds surely that is sufficient security to pass in order to close the account.

Unfortunately not Sir, you will need to visit the branch and bring in ID.

Madness!

Exactly what happened to me.

TSB didn't want to close the account without something signed by me. As they didn't have my signature on file, I asked them exactly what they were going to compare a signature on my letter of closure with?

I got nowhere with a complaints handler, so trying to be helpful I raised it to the CEO's office and the representative I spoke with was disinterested and pretty hostile.

schiff

There can be a bit of a downside to having opened higher interest current accounts and regular savers willy-nilly after Santander's interest rate cut.

Planning and projecting into the future come July/August time I'm not going to have enough 'loose' money to finance my monthly RSs. So I will have to 'raid' accounts that give higher interest to keep up my RSs that pay lower interest!

Then of course in September I'll have several RSs maturing giving me a nice lump sum to invest at 1.5% if I'm lucky while the new RSs start to get going all over again.

It's likely to be the pattern in future years unless somehow I can spread them more evenly through the year.

I would like to go for my fifth Virgin account but I think I'll hold fire.

schiff

mgarl10024 wrote: »

I got nowhere with a complaints handler, so trying to be helpful I raised it to the CEO's office and the representative I spoke with was uninterested and pretty hostile.

I'm going to go to a branch and register my signature before my RS matures on Feb 3rd. That might do it.