📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Regular Savings Accounts: The Best Currently Available List!

Options
1137013711373137513761703

Comments

  • granta said:
    Bank of Scotland Regular Saver - renewal

    I've been able to use the 'renewal' process successfully to close and re-open my Lloyds and Halifax regular savers. However, this approach doesn't work for the BoS one. I just keep getting the 'something's gone wrong' page after trying many times on both the Halifax and BoS online pages whilst logged in.

    Is this other people's experiences or is there a way around this please?
    I have a Club Lloyds Monthly Saver and I read your post about renewing your account. I've just renewed my account at 6.25% fixed for one year. I can now concentrate my attention on my other regular savers.
  • jameseonline
    jameseonline Posts: 1,088 Forumite
    1,000 Posts First Anniversary Name Dropper
    The variable interest rate on the Coventry BS Loyalty Regular Saver, is reducing from 7.00% to 6.75% on 2nd September 2024.
    Presumably a previous issue so what about the 6.75% Loyalty Regular I have is that going down too?

    Had a look on the website, can't see any rate changes for loyalty regulars on

    https://www.coventrybuildingsociety.co.uk/member/help/member-support/bank-of-england-base-rate.html

    Or

    https://www.coventrybuildingsociety.co.uk/member/savings/all-savings.html

    So went to

    https://www.coventrybuildingsociety.co.uk/member/savings/closed-accounts.html

    Still nothing.

    Did you get an email?
    I got a letter in the post for the Loyalty Regular Saver and a separate letter for the Triple Access Saver (Online). The interest rate on both accounts is reducing by 0.25% so I presume that all the variable rate accounts will see the same reduction.
    Seems strange they've sent out letters but not updated their website.
  • granta said:
    Bank of Scotland Regular Saver - renewal

    I've been able to use the 'renewal' process successfully to close and re-open my Lloyds and Halifax regular savers. However, this approach doesn't work for the BoS one. I just keep getting the 'something's gone wrong' page after trying many times on both the Halifax and BoS online pages whilst logged in.

    Is this other people's experiences or is there a way around this please?
    The same happened to me; and there was no way around for the BoS. I couldn't renew it (even though the option was there — it just wouldn't let me renew) and had withdrawn £1,750…So I had to begin again the next qualifying month with the £250 regular SO.

  • masonic
    masonic Posts: 27,282
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 18 August 2024 at 7:01PM
    DJDools said:
    granta said:
    Bank of Scotland Regular Saver - renewal

    I've been able to use the 'renewal' process successfully to close and re-open my Lloyds and Halifax regular savers. However, this approach doesn't work for the BoS one. I just keep getting the 'something's gone wrong' page after trying many times on both the Halifax and BoS online pages whilst logged in.

    Is this other people's experiences or is there a way around this please?
    The same happened to me; and there was no way around for the BoS. I couldn't renew it (even though the option was there — it just wouldn't let me renew) and had withdrawn £1,750…So I had to begin again the next qualifying month with the £250 regular SO.

    That doesn't sound like the correct process, as you should not need to withdraw anything until you've successfully "upgraded" to an easy access saver. At that point you don't hold a RS, and as far as the system is concerned never did, so you can apply for a new one with or without withdrawing from your upgraded account.
    Edit: or, as chris_the_bee points out upthread, for BoS you need to fully close the account and wait until the next morning to open a new one.
  • allegro120
    allegro120 Posts: 1,899 Forumite
    1,000 Posts Second Anniversary Name Dropper
    granta said:
    Bank of Scotland Regular Saver - renewal

    I've been able to use the 'renewal' process successfully to close and re-open my Lloyds and Halifax regular savers. However, this approach doesn't work for the BoS one. I just keep getting the 'something's gone wrong' page after trying many times on both the Halifax and BoS online pages whilst logged in.

    Is this other people's experiences or is there a way around this please?
    Bank of Scotland Regular Saver - renewal
    Select the account, then More Actions, then Account Services, then Close Account. There must be less than £5 in the account, if not, you need to reduce it. Then you can close the RS. I think you have to wait for an overnight run before you can open a new one. 


    I've done this with BoS and Lloyds last year.  I can't recall any need for reducing the amount or waiting until next day. This is how I remember it:
    1. Upgrade the existing RS to another savings account 
    2. Log out and login again
    3. Open the new RS

  • granta
    granta Posts: 508 Forumite
    Tenth Anniversary 100 Posts Photogenic Name Dropper
    granta said:
    Bank of Scotland Regular Saver - renewal

    I've been able to use the 'renewal' process successfully to close and re-open my Lloyds and Halifax regular savers. However, this approach doesn't work for the BoS one. I just keep getting the 'something's gone wrong' page after trying many times on both the Halifax and BoS online pages whilst logged in.

    Is this other people's experiences or is there a way around this please?
    Bank of Scotland Regular Saver - renewal
    Select the account, then More Actions, then Account Services, then Close Account. There must be less than £5 in the account, if not, you need to reduce it. Then you can close the RS. I think you have to wait for an overnight run before you can open a new one. 


    Thanks for sharing the alternative approach. I have tried that several times too and get the same error message asking me to call or go into a branch! I think I may have to just start funding it again [had emptied it to zero quite recently] and let it run its course.
  • granta
    granta Posts: 508 Forumite
    Tenth Anniversary 100 Posts Photogenic Name Dropper
    DJDools said:
    granta said:
    Bank of Scotland Regular Saver - renewal

    I've been able to use the 'renewal' process successfully to close and re-open my Lloyds and Halifax regular savers. However, this approach doesn't work for the BoS one. I just keep getting the 'something's gone wrong' page after trying many times on both the Halifax and BoS online pages whilst logged in.

    Is this other people's experiences or is there a way around this please?
    The same happened to me; and there was no way around for the BoS. I couldn't renew it (even though the option was there — it just wouldn't let me renew) and had withdrawn £1,750…So I had to begin again the next qualifying month with the £250 regular SO.

    I can't seem to close or renew it either! So will just start funding it again and wait it out.
  • gele
    gele Posts: 313 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    As expected really. It took them a while to do nothing different than most others.
     I have noticed though on Bridlington's other post on the easy access thread some of Coventry's other accounts haven't gone the whole hog of 0.25% so well done Coventry for that. :)
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.1K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.