Regular Savings Accounts: The Best Currently Available List!

clowning

london21 said:

Rates constantly changing, the only thing i am not happy with the 2.75% Santander esaver account is that it is variable.

Surely variable is best at the moment? It could go up

liamcov

Principality - I've got 2 regular savers at 1.05%, can I close these and still get the interest?

I want to open the latest 3.25% account, can I transfer one of the above into this or could I only do this if I'm at maturity?

Nick_C

liamcov said:

Principality - I've got 2 regular savers at 1.05%, can I close these and still get the interest?

I want to open the latest 3.25% account, can I transfer one of the above into this or could I only do this if I'm at maturity?

You certainly can, and should, close the old RS accounts paying peanuts.

Principality's IT is archaic.  Any attempt to move money between accounts or close accounts is done by secure message, and needs to be received before 3:30pm.

Based on my experience yesterday closing Issue 29, I would recommend

1) Open Issue 30
2) Fund it by Faster Payment once it is open
3) Put in your requests to close the old issues and transfer the money out. 

refluxer

liamcov said:

I want to open the latest 3.25% account, can I transfer one of the above into this or could I only do this if I'm at maturity?

No, these are 1 year bonds and you can't reinvest the balance into another regular saver - even at maturity. You'll have to close the old regular savers and start again with the new one.

Section62

liamcov said:

Principality - I've got 2 regular savers at 1.05%, can I close these and still get the interest?

Principality

If one of them is the Maturity Christmas Regular Saver Bond then bear in mind that last year the eligibility for this product depended on having a maturing 1 Year RS Bond or holding the 2021 Christmas Regular Saver Bond.

I've decided to hold on to my Maturity Christmas Regular Saver Bond until maturity - just in case Principality do the same thing again and launch a maturity product with restricted eligibility.  I figure since the financial loss is small* as the account balance is low (significantly less than the £1500 maximum) and maturity is only about 3 weeks away then it is worth the gamble.

(*less than a quid if I'd moved the balance to my Santander eSaver today)

veryintrigued

Nick_C said:.

Principality's IT is archaic.  Any attempt to move money between accounts or close accounts is done by secure message, and needs to be received before 3:30pm.

Closure of account can be done by an option under Account Services (top left).

I requested this last night and the funds were in my external nominated account by 10:00hrs.

That's superb compared to the likes of some that take a week or more and issue a cheque.

Frogletina

Nick_C said:

liamcov said:

Principality - I've got 2 regular savers at 1.05%, can I close these and still get the interest?

I want to open the latest 3.25% account, can I transfer one of the above into this or could I only do this if I'm at maturity?

You certainly can, and should, close the old RS accounts paying peanuts.

Principality's IT is archaic.  Any attempt to move money between accounts or close accounts is done by secure message, and needs to be received before 3:30pm.

Based on my experience yesterday closing Issue 29, I would recommend

1) Open Issue 30
2) Fund it by Faster Payment once it is open
3) Put in your requests to close the old issues and transfer the money out. 

I had already closed issue 29 a few days ago. I cannot see why they do not allow you to apply when you still have log in details. However, when I tried as a new customer as required, the system did not like my post code - said it was invalid. I tried again today and finally got the system to accept my address and completed the order, Then it told me to log in, but I expect as it is a Friday night, it won't be there until Monday.

However, getting money out can be done the same day, so I do like that.

Stafford Railway Building Society on the other hand require you to fill a form in and send the passbook back - I won't be using them again.

happybagger

Darlington BS
Closed Issue High Days saver increased to 2.45% from today, 14 October.

Source

Nick_C

veryintrigued said:

Nick_C said:.

Principality's IT is archaic.  Any attempt to move money between accounts or close accounts is done by secure message, and needs to be received before 3:30pm.

Closure of account can be done by an option under Account Services (top left).

I requested this last night and the funds were in my external nominated account by 10:00hrs.

That's superb compared to the likes of some that take a week or more and issue a cheque.

As I said, the instructions are  carried out via a secure message to a member of staff. 

The option you refer to simply sends a secure message requesting that the account is closed.

Users/customers cannot give a direct instruction to the IT system, which we have come to expect in the 21st Century.

In England anyway.

Most of the financial institutions I deal with allow me to initiate closure directly and the funds are usually in my external account within seconds without any further human intervention. 

I suspect someone in the back office at Principality worked out the closing interest using an abacus. 

veryintrigued

Nick_C said:

veryintrigued said:

Nick_C said:.

Principality's IT is archaic.  Any attempt to move money between accounts or close accounts is done by secure message, and needs to be received before 3:30pm.

Closure of account can be done by an option under Account Services (top left).

I requested this last night and the funds were in my external nominated account by 10:00hrs.

That's superb compared to the likes of some that take a week or more and issue a cheque.

As I said, the instructions are  carried out via a secure message to a member of staff. 

The option you refer to simply sends a secure message requesting that the account is closed.

Users/customers cannot give a direct instruction to the IT system, which we have come to expect in the 21st Century.

In England anyway.

Most of the financial institutions I deal with allow me to initiate closure directly and the funds are usually in my external account within seconds without any further human intervention. 

I suspect someone in the back office at Principality worked out the closing interest using an abacus. 

So you admit the 15:30hrs was nonsense.

And that customers can trigger the process by a non secure message process.

And that lots of institutions loads of us on here have less efficient systems.

That's good we agree.

Back to new and improved RS anyone?