Regular Savings Accounts: The Best Currently Available List!

quirkydeptless

Section62 said:

quirkydeptless said:

Just finished a call with Saffron after asking for a call back (which was done in my requested time) and the very nice lady opened the RS 9 with £500 and closed the RS A, returning the approximately £3000 balance to me, which will go into my 1% Virgin Easy access and then be fed back into RS 9.

Saffron

Did they let you keep the old account number (as per normal rollover maturities) or did it have to be a full closure and open a brand new account?

Kept same account number

quirkydeptless

gwapenut said:

Saffron list the new regular saver as being a possible "maturity option" for my existing regular saver.

But am I right in thinking that it's not a true maturity option, because I could only switch 1 monthly payment (£500) of the maturing balance into the new R.S. and the rest of the balance would have to go elsewhere?

You should check with Saffron, but I think you can take the whole balance over at maturity (as when my RS8 matured) whereas I was closing my RS A (the matured RS 8) early to open the RS 9

castle96

they told me "close A/8... pay to nominated a/c... open iss 9"

happybagger

LEEK UNITED BS Finally makes minimal changes to their savings accounts, but not until 14 March 2022

Regular Savings and Regular Savings 2 (Both closed issue) +0.15% to 1.00%
Flexible Saver (also closed issue) will be 1.25%

https://www.leekunited.co.uk/content/images/page/files/Interest Rates Poster 14 March 2022 V002 L001082_2.pdf

swanfan02

New regular saver from Suffolk Building Society, 1.25% fixed,

To open this account:
• You need to be aged 16 or over.
• Deposit a minimum of between £10 and £500.
• Be an existing member or a new member resident in postcode areas IP, NR, CO, CM, CB or PE.
• Be a permanent UK resident.
• An individual is only allowed to be the sole or first named account holder on one 1 Year Regular Saver (31.05.2023). However, you can also be the second named account holder on one joint account.

https://www.suffolkbuildingsociety.co.uk/savings-products/1-year-regular-saver/

Daliah

I just swapped my existing Saffron RS for their Issue 9 RS - it took less than a minute once they had answered the phone, and the wait for that was quite acceptable, too. Account details for the SO stay the same, so this is all very easy. Great service! 

Nick_C

Daliah said:

I just swapped my existing Saffron RS for their Issue 9 RS - it took less than a minute once they had answered the phone, and the wait for that was quite acceptable, too. Account details for the SO stay the same, so this is all very easy. Great service! 

Did you have more than £500 in there?  Did they convert the account or close and reopen it?

I opened mine a week ago so have £1000 in it.  I will call them this afternoon.  I was expecting to have to close and reopen with £500.

10_66

Nick_C said:

Did you have more than £500 in there?  Did they convert the account or close and reopen it?

I opened mine a week ago so have £1000 in it.  I will call them this afternoon.  I was expecting to have to close and reopen with £500.

They switch the account, transfer whatever (up to £500) you want into the new one, and transfer the remaining balance plus closing interest into your linked account.  You can do this via secure message, so you don't have to ring them.  If they switch, you keep the old account number.

Daliah

Nick_C said:

Daliah said:

I just swapped my existing Saffron RS for their Issue 9 RS - it took less than a minute once they had answered the phone, and the wait for that was quite acceptable, too. Account details for the SO stay the same, so this is all very easy. Great service! 

Did you have more than £500 in there?  Did they convert the account or close and reopen it?

I opened mine a week ago so have £1000 in it.  I will call them this afternoon.  I was expecting to have to close and reopen with £500.

no, had less than £500 in there.

I expect they will let you xfer £500, and pay the remainder, incl interest, to your linked account.

Section62

Daliah said:

Nick_C said:

Daliah said:

I just swapped my existing Saffron RS for their Issue 9 RS - it took less than a minute once they had answered the phone, and the wait for that was quite acceptable, too. Account details for the SO stay the same, so this is all very easy. Great service! 

Did you have more than £500 in there?  Did they convert the account or close and reopen it?

I opened mine a week ago so have £1000 in it.  I will call them this afternoon.  I was expecting to have to close and reopen with £500.

no, had less than £500 in there.

I expect they will let you xfer £500, and pay the remainder, incl interest, to your linked account.

Saffron

Yes, I had the same outcome as 10_66 - a product switch to the new rate, with £500 of the balance retained and the rest transferred out to a different account.  Done by phone, all very efficient and quick.