Regular Savings Accounts: The Best Currently Available List!

Kim_13

Most(?) Issue 1 accounts only have a few months to run (2 year product launched in September 2022), so perhaps not worth them incurring the loss of customer goodwill for the savings that they would make after the notice period they have to give anyway. It was competitive only for a few months, so I can’t imagine a great deal is held in them at this point (the average customer won’t have exhausted better paying options elsewhere.)

They’ve already done one reduction without a corresponding move in the base rate during the account term. I doubt moves in anticipation go down well with savers generally. Stopping one issue and launching another may be a way to avoid this, as it means everyone gets the terms they signed up to.

happybagger

Kim_13 said:

Most(?) Issue 1 accounts only have a few months to run (2 year product launched in September 2022), 

But they could be opened up to last weekend, and those will have two years left to run, so I wouldn't say most have only a few months left.

Kim_13

happybagger said:

Kim_13 said:

Most(?) Issue 1 accounts only have a few months to run (2 year product launched in September 2022), 

But they could be opened up to last weekend, and those will have two years left to run, so I wouldn't say most have only a few months left.

Of course, but given the window in which the account was a top payer, it’s more likely that the majority of accounts are closer to maturity than their start date. For those having to transact by post, opening the account hasn’t made sense for some time. 

PowerSavingMode

Kim_13 said:

...For those having to transact by post, opening the account hasn’t made sense for some time. 

This is why I have been paying in the minimum monthly payment to the Hinckley & Rugby BS Regular Saver 30 Day Notice — it is such a faff to eventually get your money out (single withdrawal, or closure); it is for me, at least.

allegro120

DJDools said:

Kim_13 said:

...For those having to transact by post, opening the account hasn’t made sense for some time. 

This is why I have been paying in the minimum monthly payment to the Hinckley & Rugby BS Regular Saver 30 Day Notice — it is such a faff to eventually get your money out (single withdrawal, or closure); it is for me, at least.

I remember closing this account when they reduced the rate (they waived the notice).  I had to write and post a letter asking to close the account and received cheque by post, took about a week until money appeared in my bank account.  Very outdated practice.

PowerSavingMode

allegro120 said:

DJDools said:

Kim_13 said:

...For those having to transact by post, opening the account hasn’t made sense for some time. 

This is why I have been paying in the minimum monthly payment to the Hinckley & Rugby BS Regular Saver 30 Day Notice — it is such a faff to eventually get your money out (single withdrawal, or closure); it is for me, at least.

I remember closing this account when they reduced the rate (they waived the notice).  I had to write and post a letter asking to close the account and received cheque by post, took about a week until money appeared in my bank account.  Very outdated practice.

Yes, that's what I mean...very archaic and slow. I had to send a message giving the required 30 days' notice to withdraw, and then I had to physically post a request to Hinckley & Rugby to withdraw X amount, and after a bit of toing and froing and passbooks going hither and dither, a cheque finally arrived. Far too stretched out.

jaypers

For anyone with the Beehive RS, don’t forget to move your money after maturity as they will be moving it into a measly 2.65% paying a/c.

The fixed rate period on your Online Fixed Regular Saver ends on Wednesday 31 July 2024 when we’ll move your balance to our Beehive Easy Access Issue 4 currently at 2.65% gross p.a/AER* variable. 

Your savings will be available to access from Thursday 1 August 2024 and you can find details on the account here.

ForumUser7

Hinckley and Rugby

I think things should be a bit easier now with their new online portal which allows online faster payment withdrawals? The notice period still applies.

chris_the_bee

ForumUser7 said:

Hinckley and Rugby

I think things should be a bit easier now with their new online portal which allows online faster payment withdrawals? The notice period still applies.

As long as your nominated account is set up and approved. Notice can be given by secure message or by telephone. Also no need to send passbook and letter any more.

gt94sss2

If anyone has the Tipton RS which ends at the end of the month, your maturity options are now showing in the app