Halifax regular saver

I had a regular saver from the Halifax which matured on the 3 February last year. As the new rate was only 0.75&% I didn’t bother for last year. But it was still added to my list of accounts. I have now got a letter saying it will mature in early February. In the letter they mentioned a rate of 4.5% which is much more interesting. They say they will automatically set up another one at I assume the 4.5% rate.  As I have not had anything in last years account do you think that will occur. Or should I quickly add £25 the minimum into before it matures? 



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  • edited 20 January at 4:13PM
    wmb194wmb194 Forumite
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    edited 20 January at 4:13PM
    I had a regular saver from the Halifax which matured on the 3 February last year. As the new rate was only 0.75&% I didn’t bother for last year. But it was still added to my list of accounts. I have now got a letter saying it will mature in early February. In the letter they mentioned a rate of 4.5% which is much more interesting. They say they will automatically set up another one at I assume the 4.5% rate.  As I have not had anything in last years account do you think that will occur. Or should I quickly add £25 the minimum into before it matures? 



    No. You should close your existing 0.75% one and open a new 4.5% one. You don't need to wait.
  • kaMelokaMelo Forumite
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    You need to "renew" your account in on-line banking to an easy access saver after which you can open a new one at 4.5%.
    If you use the *close account" option then you will be blocked from opening a new lone until the twelve months are expired from opening the old one.

  • Eco_MiserEco_Miser Forumite
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    kaMelo said:
    You need to "renew" your account in on-line banking to an easy access saver after which you can open a new one at 4.5%.
    If you use the *close account" option then you will be blocked from opening a new lone until the twelve months are expired from opening the old one.

    I did that, but I can't open a new Regular Saver, and i can't close the easy access saver either - as in those options aren't shown on the page.  I'd go in to do it in branch but I've got a bad cold or worse.

    Eco Miser
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  • AntoMacAntoMac Forumite
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    You can do it online. I did mine online about  3 months ago and started a new one at 4.5%
    As @kaMelo mentions above, you have to first of all ‘renew’ it to an Instant Saver
    27/5/17 Mort 64705 BTs 1904031/12/17 Mort 59815 BT 1673007/04/20 Mort 49208 BT 1572128/07/20 Mort 47387 BT 1263414/11/20 Mort 45905 BT 10134 20/05/21 Mort 42335 BT 686811/08/22 Mort 32050 BT 2915Sealed Pot Challenge 16 Number 5
  • MDMDMDMD Forumite
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    AntoMac said:
    You can do it online. I did mine online about  3 months ago and started a new one at 4.5%
    As @kaMelo mentions above, you have to first of all ‘renew’ it to an Instant Saver
    And I think the “close” option doesn’t show until you empty the instant access account
  • Bridlington1Bridlington1 Forumite
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    If I'm not mistaken you need a balance of £5 or less to close a savings account with LBG banks. You can renew with more than £5 in it, but not close it.

    As mentioned above, renew the regular saver into an easy access account, then close it. I've found that you'll sometimes need to log out then back in again after you've done the renewal before you can close the account though, just depends what mood the internet banking is in.
  • kaMelokaMelo Forumite
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    If I'm not mistaken you need a balance of £5 or less to close a savings account with LBG banks. You can renew with more than £5 in it, but not close it.

    As mentioned above, renew the regular saver into an easy access account, then close it. I've found that you'll sometimes need to log out then back in again after you've done the renewal before you can close the account though, just depends what mood the internet banking is in.
    I've always had to log out and back in to see the changes.
  • Eco_MiserEco_Miser Forumite
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    If any of these recent posts were responses to me, I 'renew'ed the account just after it auto-emptied on maturity, back in June, and it just sat there, empty and uncloseable and mostly ignored until I recently wanted to open a new Regular Saver at 4.5%, and found I couldn't do that either.
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