Santander Reg eSaver

wmb194

adindas said:

wmb194 said:

Sea_Shell said:

I also have TSB and Lloyds, and have reduced their SO's (sic) to £25, which i understand is the minimum.   Not sure if you can close them and have interest paid to date?   Anyone?

The minimum for these is £zero and yes, you can close them early and receive the accrued interest to date.

If you close them early you won't be able to open a new regular saver of the same type until the anniversary of the one you closed.

I have not checked TSB, but for Lloyds I think the minimum is £25, But you could always transfer it back on the same day.

https://www.lloydsbank.com/savings/monthly-saver.html

That's the minimum deposit if you make a deposit. The terms only say that if you miss a deposit in a month it cannot be made up and not that it will be closed, there will be a penalty etc. It's instant access anyway so it would be a bit silly to set any onerous conditions.

Better to look at the terms than the summary box and these are short and shown in full below:

RG2015

Sea_Shell said:

Thanks.   But does that also mean that you can't have another one (issue) whilst an older one is still open?  It doesn't explicitly say you can't, unless I'm missing something.

Are they like Virgin were back in the day😉


It says the only way to close is branch or snail mail.  Is that correct or have people been able to close online or via chat?

I closed mine by chat on Tuesday 11th Oct. I chose the Regular Saver upgrade although I had no intention of upgrading. That same evening my accrued balance plus interest was in my 123 Lite account.

I have inserted below an extract from the chat. 

I’ll need you to leave a message for one of my colleagues, and they’ll close your existing Regular eSaver for you. You’ll then need to wait 2 working days before you open your new Regular eSaver.

Sandi at 16:10, Oct 11:

💡 Any remaining balance and interest will be paid into the Santander account you used to fund the Regular eSaver.

Sandi at 16:10, Oct 11:

Sandi

In your message please confirm your full address.

Click here to leave a message

Sea_Shell

If you can close via chat, why on earth isn't that option in the t&C's!! 😡😉

Anyway, thanks for the heads up, I shall put cancelling the current RS on my to-do list.

RG2015

Sea_Shell said:

If you can close via chat, why on earth isn't that option in the t&C's!! 😡😉

Anyway, thanks for the heads up, I shall put cancelling the current RS on my to-do list.

Yes, and the list of topics in the chat window even includes "upgrade regular esaver".

I have to say that I am used to gaps and omissions by banks (and everyone else) and that is why this forum is invaluable.

Sea_Shell

RG2015 said:

Sea_Shell said:

If you can close via chat, why on earth isn't that option in the t&C's!! 😡😉

Anyway, thanks for the heads up, I shall put cancelling the current RS on my to-do list.

Yes, and the list of topics in the chat window even includes "upgrade regular esaver".

I have to say that I am used to gaps and omissions by banks (and everyone else) and that is why this forum is invaluable.

Does "upgrade" mean automatically change it to the latest issue?


I agree that this forum is a font of information, experiences and knowledge.

RG2015

Sea_Shell said:

RG2015 said:

Sea_Shell said:

If you can close via chat, why on earth isn't that option in the t&C's!! 😡😉

Anyway, thanks for the heads up, I shall put cancelling the current RS on my to-do list.

Yes, and the list of topics in the chat window even includes "upgrade regular esaver".

I have to say that I am used to gaps and omissions by banks (and everyone else) and that is why this forum is invaluable.

Does "upgrade" mean automatically change it to the latest issue?


I agree that this forum is a font of information, experiences and knowledge.

No, it said the balance on my existing regular saver plus interest would be credited to my 123 Lite account.

I would then need to apply to open a new regular saver. It was quite clear to me that I could choose not to open a new RS.