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Regular Savings Accounts: The Best Currently Available List!
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allegro120 said:Digital_Payback said:OneUser1 said:I took the risk and closed my Principality 6 Month and - this was the risk - I have been able to open a new 6 Month. I was worrying between closing and reopening but now I’ve done it I am feeling smug!Does anyone know how long it takes for the Principality BS, on account closure, to transfer out the funds to an external account?Digital Payback
The National Lottery : A tax on those who aren’t good at maths.0 -
happybagger said:surreysaver said:s71hj said:Bridlington1 said:I consider myself to be a male feminist. Is that allowed?1
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10_66 said:Principality
I've just tried closing my 6 month regular saver in order to try to reopen one, but its still showing as open and the message I got when I requested closure was it should be actioned within 1 day. I was in two minds as to whether to close it as it still had until the 24 December before it matured, not too hopeful it'll still be available by tomorrow. Does anyone know if each of their closures have to be manually checked?I consider myself to be a male feminist. Is that allowed?0 -
surreysaver said:10_66 said:Principality
I've just tried closing my 6 month regular saver in order to try to reopen one, but its still showing as open and the message I got when I requested closure was it should be actioned within 1 day. I was in two minds as to whether to close it as it still had until the 24 December before it matured, not too hopeful it'll still be available by tomorrow. Does anyone know if each of their closures have to be manually checked?
https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/?quick-links-first=false&product-favorites-first=false&sort-order=AER&sort-order-text=Rate
Annoyingly moneyfacts have very recently decided to start sorting the accounts in alphabetical order of bank/building society by default so I've just had to update my bookmarked moneyfacts links.
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surreysaver said:Speculator said:Just opened Lloyds monthly @ 5.25%. Also, renewed and reopened the club lloyds monthly.
Rate on both is fixed and allows unlimited withdrawals.1 -
Bridlington1 said:surreysaver said:10_66 said:Principality
I've just tried closing my 6 month regular saver in order to try to reopen one, but its still showing as open and the message I got when I requested closure was it should be actioned within 1 day. I was in two minds as to whether to close it as it still had until the 24 December before it matured, not too hopeful it'll still be available by tomorrow. Does anyone know if each of their closures have to be manually checked?
https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/?quick-links-first=false&product-favorites-first=false&sort-order=AER&sort-order-text=Rate
Annoyingly moneyfacts have very recently decided to start sorting the accounts in alphabetical order of bank/building society by default so I've just had to update my bookmarked moneyfacts links.
I don't think it's possible, even in the "Full search"0 -
Dizzycap said:Aldermore 5.25 RS NLA0
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allegro120 said:surreysaver said:Speculator said:Just opened Lloyds monthly @ 5.25%. Also, renewed and reopened the club lloyds monthly.
Rate on both is fixed and allows unlimited withdrawals.
My logic is that regular savers are generally at their most profitable** towards the end of their term, thus by closing the regular saver early I'm missing out on the most profitable months of the regular saver's term.
There's no guarantee the regular saver will get pulled before the end of the term. I seem to recall back in March people were debating whether to close their 7.5% Skipton Members RS early in order to secure the 7% rate till spring 2025.
Over 300 days after it was launched this account is still available and those who opened the 7.5% version in June and let it run till maturity were able to enjoy the 7.5% rate for an extra few months before securing the 7% RS upon maturity.
If you ``refresh" the regular savers now who's to say that a few months down the line the account won't still be available and you could well find yourself debating whether or not to refresh the account again to get an extra few months at the higher rate when if you'd let the old account run to maturity you could've got the same account again anyway.
If you do refresh again you could well end up in danger of getting stuck in a loop of refreshing regularly and having only a relatively small amount in these regular savers over a longer period (in the meantime the rest of your funds will likely be in other lower rate accounts which will often be variable).
And even if they do pull the account and replace it with one at a lower rate, the new issue may well only be about 0.25-0.5% lower than the previous version, which especially for the top rate regular savers will probably not be a large enough gap to justify emptying regular savers early.
**I'm defining profitability here to be how much extra interest I'm getting by having the regular saver maxed out than I would be keeping all funds in the top EA account.22 -
allegro120 said:Dizzycap said:Aldermore 5.25 RS NLA
https://www.aldermore.co.uk/savings-accounts/personal-savings-accounts/regular-saver-account/2 -
Bridlington1 said:
My logic is that regular savers are generally at their most profitable** towards the end of their term, thus by closing the regular saver early I'm missing out on the most profitable months of the regular saver's term.
EDIT: Found it! https://forums.moneysavingexpert.com/discussion/comment/79890852/#Comment_79890852
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