Regular Savings Accounts: The Best Currently Available List!

colsten

steve65e wrote: »

And depriving us of a day's interest (32p) on the full amount?

How did you conclude that from me saying "I think it's correct that my interest doesn't get paid until tomorrow".

Vortigern

Deleted_User wrote: »

I had a regular saver with TSB, when it matured they switched it to some account paying diddly-squat. I emptied it then rang them to close it and they said I had to either write a letter or go into a branch to close it. This I'm going to do but they've got a nerve, making me to go out of my way to close an account I didn't even open.

If they are causing you some effort or expense to close an unwanted account, don't close it! Just leave it empty until they declare it dormant. It may take a while and they'll probably send you an annual statement. Their problem, not yours or mine.

mgarl10024

Deleted_User wrote: »

I had a regular saver with TSB, when it matured they switched it to some account paying diddly-squat. I emptied it then rang them to close it and they said I had to either write a letter or go into a branch to close it. This I'm going to do but they've got a nerve, making me to go out of my way to close an account I didn't even open.

I had the same. Raised it to CEO level and they just weren't interested. The chap from the CEO's office was actually quite rude. I haven't opened another RS with them.

hgt

mgarl10024 wrote: »

I had the same. Raised it to CEO level and they just weren't interested. The chap from the CEO's office was actually quite rude. I haven't opened another RS with them.

Yes this is a ploy employed by all brands that run on Lloyds Banking Group IT systems (Lloyds, Halifax, BoS, TSB) where they don't let you close the majority of accounts online. Just keep the account open as that way the bank loses out when they have to pay postage to send you a statement for a nill balance every year!

colsten

mgarl10024 wrote: »

I had the same. Raised it to CEO level and they just weren't interested. The chap from the CEO's office was actually quite rude. I haven't opened another RS with them.

It'll really hurt them if you don't save with them.

glider3560

hgt wrote: »

Yes this is a ploy employed by all brands that run on Lloyds Banking Group IT systems (Lloyds, Halifax, BoS, TSB) where they don't let you close the majority of accounts online. Just keep the account open as that way the bank loses out when they have to pay postage to send you a statement for a nill balance every year!

The new Lloyds online system allows savings accounts to be closed by the customer. TSB never adopted this system.

mgarl10024

colsten wrote: »

It'll really hurt them if you don't save with them.

I know what you're saying. My £250/mth probably isn't going to bring down the TSB empire.

Rather than a "I'm really angry and wont save with them out of principle even if I spite myself because they have market leading rates (they don't)" sort of way, it's more of a "I can get the same 2% RS in many places which don't cause this hassle so in the current market I'll go elsewhere" sort of way.

It's hassle-minimisation rather than vengeance.

That said, the response from the CEO's office was very disappointing, and given an *equal* offering, I would opt elsewhere.

[Deleted User]

mgarl10024 wrote: »

I know what you're saying. My £250/mth probably isn't going to bring down the TSB empire.

Rather than a "I'm really angry and wont save with them out of principle even if I spite myself because they have market leading rates (they don't)" sort of way, it's more of a "I can get the same 2% RS in many places which don't cause this hassle so in the current market I'll go elsewhere" sort of way.

It's hassle-minimisation rather than vengeance.

That said, the response from the CEO's office was very disappointing, and given an *equal* offering, I would opt elsewhere.

Good for you. It's amazing how many people in life these days are willing to forget their principles in order to make what nowadays has become a pittance. It's this way of behaviour that results in children working in factories and the like.

elektra

Pleased to say that Santander now let you open a Regular Saver online.

A very quick process and it opened and appeared on-screen immediately.

mgarl10024

elektra wrote: »

Pleased to say that Santander now let you open a Regular Saver online.

A very quick process and it opened and appeared on-screen immediately.

Do you have to set up your own SO, or does the process do that for you?