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Regular Savings Accounts: The Best Currently Available List!

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Comments

  • Bob2000
    Bob2000 Posts: 413 Forumite
    100 Posts Name Dropper Photogenic
    Bob2000 said:
    liamcov said:
    Principality BS to launch a 6 Month Regular Saver Issue 2 over the coming days.

    No further details are known yet but the application link to the account has appeared on their website which implies Issue 1 at 8% shall be replaced within the next week or so.
    What is the process for closing Issue 1 and opening another before it disappears? 
    I've done this 2 weeks ago.  Can't remember the exact details but it was very straight forward, closed and immediately opened a new one online.
    If you close today with a full balance instead of letting it mature what do you gain in interest?
    It depends on a number of days and the amount you were holding in the account.
    Opened 23rd June £1200 fully funded.
  • Kim_13
    Kim_13 Posts: 3,697 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Photogenic
    Bob2000 said:
    Bob2000 said:
    liamcov said:
    Principality BS to launch a 6 Month Regular Saver Issue 2 over the coming days.

    No further details are known yet but the application link to the account has appeared on their website which implies Issue 1 at 8% shall be replaced within the next week or so.
    What is the process for closing Issue 1 and opening another before it disappears? 
    I've done this 2 weeks ago.  Can't remember the exact details but it was very straight forward, closed and immediately opened a new one online.
    If you close today with a full balance instead of letting it mature what do you gain in interest?
    It depends on a number of days and the amount you were holding in the account.
    Opened 23rd June £1200 fully funded.
    I’d have thought it risky to do at this point - closing requires manual processing on Principality’s end, so Issue 2 might be all that’s available by the time it’s done, given that we know it’s coming.
  • Bob2000
    Bob2000 Posts: 413 Forumite
    100 Posts Name Dropper Photogenic
    Kim_13 said:
    Bob2000 said:
    Bob2000 said:
    liamcov said:
    Principality BS to launch a 6 Month Regular Saver Issue 2 over the coming days.

    No further details are known yet but the application link to the account has appeared on their website which implies Issue 1 at 8% shall be replaced within the next week or so.
    What is the process for closing Issue 1 and opening another before it disappears? 
    I've done this 2 weeks ago.  Can't remember the exact details but it was very straight forward, closed and immediately opened a new one online.
    If you close today with a full balance instead of letting it mature what do you gain in interest?
    It depends on a number of days and the amount you were holding in the account.
    Opened 23rd June £1200 fully funded.
    I’d have thought it risky to do at this point - closing requires manual processing on Principality’s end, so Issue 2 might be all that’s available by the time it’s done, given that we know it’s coming.
    OK, fair enough. 
    Thank you for replying. 
  • allegro120
    allegro120 Posts: 2,145 Forumite
    1,000 Posts Second Anniversary Name Dropper
    edited 29 November 2024 at 5:07PM
    Bob2000 said:
    Bob2000 said:
    liamcov said:
    Principality BS to launch a 6 Month Regular Saver Issue 2 over the coming days.

    No further details are known yet but the application link to the account has appeared on their website which implies Issue 1 at 8% shall be replaced within the next week or so.
    What is the process for closing Issue 1 and opening another before it disappears? 
    I've done this 2 weeks ago.  Can't remember the exact details but it was very straight forward, closed and immediately opened a new one online.
    If you close today with a full balance instead of letting it mature what do you gain in interest?
    It depends on a number of days and the amount you were holding in the account.
    Opened 23rd June £1200 fully funded.
    I opened mine on 20th June, closed on 7th November, £1200 funded, got £20.51 interest.  That's approximately 4 and half months, so yours should be a little more than this.
  • Digital_Payback
    Digital_Payback Posts: 204 Forumite
    Part of the Furniture 100 Posts Name Dropper Photogenic
    edited 29 November 2024 at 5:09PM
    Bob2000 said:
    Bob2000 said:
    liamcov said:
    Principality BS to launch a 6 Month Regular Saver Issue 2 over the coming days.

    No further details are known yet but the application link to the account has appeared on their website which implies Issue 1 at 8% shall be replaced within the next week or so.
    What is the process for closing Issue 1 and opening another before it disappears? 
    I've done this 2 weeks ago.  Can't remember the exact details but it was very straight forward, closed and immediately opened a new one online.
    If you close today with a full balance instead of letting it mature what do you gain in interest?
    It depends on a number of days and the amount you were holding in the account.
    Opened 23rd June £1200 fully funded.
    I opened mine on 20th June, closed on 7th November, £1200 funded, got £20.51 interest.  That's approximately 4 and half months, so yours should be a little more than this.
    I did exactly the same, and like you got £20.51 interest. 
    I then immediately opened another and began funding it. 
    Digital Payback

    The National Lottery : A tax on those who aren’t good at maths.
  • allegro120
    allegro120 Posts: 2,145 Forumite
    1,000 Posts Second Anniversary Name Dropper
    Withdrew funds last night from matured Gatehouse RS and they have now arrived in my bank, in plenty of time to fund other RS accounts from the 1st
    I've done a test withdrawal this morning, it took 6 and half hours to arrive.  It has supposedly been done by Faster Payment.  From memory Gatehouse withdrawals used to be faster than that.  
  • allegro120
    allegro120 Posts: 2,145 Forumite
    1,000 Posts Second Anniversary Name Dropper
    Bob2000 said:
    Bob2000 said:
    liamcov said:
    Principality BS to launch a 6 Month Regular Saver Issue 2 over the coming days.

    No further details are known yet but the application link to the account has appeared on their website which implies Issue 1 at 8% shall be replaced within the next week or so.
    What is the process for closing Issue 1 and opening another before it disappears? 
    I've done this 2 weeks ago.  Can't remember the exact details but it was very straight forward, closed and immediately opened a new one online.
    If you close today with a full balance instead of letting it mature what do you gain in interest?
    It depends on a number of days and the amount you were holding in the account.
    Opened 23rd June £1200 fully funded.
    I opened mine on 20th June, closed on 7th November, £1200 funded, got £20.51 interest.  That's approximately 4 and half months, so yours should be a little more than this.
    I did exactly the same, and like you got £20.51 interest. 
    I then immediately opened another and began funding it. 
    By May 2025 it will probably be the best paying RS :). It was also good to push some interest into next tax year.  I've done the same with Skipton Loyalty RS.
  • allegro120
    allegro120 Posts: 2,145 Forumite
    1,000 Posts Second Anniversary Name Dropper
    Kim_13 said:
    Bob2000 said:
    Bob2000 said:
    liamcov said:
    Principality BS to launch a 6 Month Regular Saver Issue 2 over the coming days.

    No further details are known yet but the application link to the account has appeared on their website which implies Issue 1 at 8% shall be replaced within the next week or so.
    What is the process for closing Issue 1 and opening another before it disappears? 
    I've done this 2 weeks ago.  Can't remember the exact details but it was very straight forward, closed and immediately opened a new one online.
    If you close today with a full balance instead of letting it mature what do you gain in interest?
    It depends on a number of days and the amount you were holding in the account.
    Opened 23rd June £1200 fully funded.
    I’d have thought it risky to do at this point - closing requires manual processing on Principality’s end, so Issue 2 might be all that’s available by the time it’s done, given that we know it’s coming.
    I did it early in the morning.  Checked that the product is still available before proceeding with refreshment.  It worked. But you are right, there is a risk that they might pull it at any time during the day.
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