First Direct regular saver

ForumUser7

Rich1976 said:

ForumUser7 said:

Rich1976 said:

ForumUser7 said:

Oops, mine matures on a Sunday apparently... No chance of calling CS then and getting it done straight away like @bigwheels1111 was able to do. I'll only have to wait a day though.

Edit - mine is HSBC, but their ts and cs say the same thing re 5 day maturity process

Why, customer services is open everyday ?

I asked them when the savings admin team was in to discuss existing applications and account maturities, and they said Monday-Sunday, but when I called up the number they gave, the person said they weren’t part of that team, and it was a Monday-Friday team, but they would put a note on the account that I wanted it to mature on a Monday - which didn’t happen anyway.

Can any CS agent process the maturity immediately? If so, I’ll call on the Sunday when mine is supposed to expire

Oh ok unless something has changed with their processes then as whenever I had a Regular Saver in the past I would just call the main fd number and whoever answered processed the closure straightaway and then I opened a new R/S account online the same day or next day. 

Didn’t realise they had a specific team now to field such queries too.

@rich1976 It's possible that I was just misinformed. I'll certainly give the method you've described above a go when my RS reaches maturity.

Does/did HSBC allow the same process as well please?

Thanks!

Rich1976

ForumUser7 said:

Rich1976 said:

ForumUser7 said:

Rich1976 said:

ForumUser7 said:

Oops, mine matures on a Sunday apparently... No chance of calling CS then and getting it done straight away like @bigwheels1111 was able to do. I'll only have to wait a day though.

Edit - mine is HSBC, but their ts and cs say the same thing re 5 day maturity process

Why, customer services is open everyday ?

I asked them when the savings admin team was in to discuss existing applications and account maturities, and they said Monday-Sunday, but when I called up the number they gave, the person said they weren’t part of that team, and it was a Monday-Friday team, but they would put a note on the account that I wanted it to mature on a Monday - which didn’t happen anyway.

Can any CS agent process the maturity immediately? If so, I’ll call on the Sunday when mine is supposed to expire

Oh ok unless something has changed with their processes then as whenever I had a Regular Saver in the past I would just call the main fd number and whoever answered processed the closure straightaway and then I opened a new R/S account online the same day or next day. 

Didn’t realise they had a specific team now to field such queries too.

@rich1976 It's possible that I was just misinformed. I'll certainly give the method you've described above a go when my RS reaches maturity.

Does/did HSBC allow the same process as well please?

Thanks!

Yes certainly wouldn’t do any harm in calling again at the maturity day. They always answer the phone really quickly so it’s not like you’re wasting a lot of time from your day. And if they have changed their process ,well not a lot can be done about that except wait a few days until you can open a new regular saver.

I don’t know about HSBC unfortunately as not banked with them directly since about 2002.

RG2015

My FD R/S is maturing about now and has disappeared from my app. My DD was being taken on the 29th so I assume today is my maturity day.

Can someone remind me when my balance plus interest will appear in my existing easy access savings account?

wiseonesomeofthetime

Within five working days

Had my letter today. Mine matures next Saturday.

PloughmansLunch

Is it worth opening one of their bog standard savers before a FD regular saver matures for the first time?

RG2015

wiseonesomeofthetime said:

Within five working days

Had my letter today. Mine matures next Saturday.

Just checked the ts&cs and they mature on the anniversary of opening so that will be tomorrow. Unfortunately I have not received any communication, either letter or email.

I recall in the past that my balance was available within 1 or 2 days.

RG2015

PloughmansLunch said:

Is it worth opening one of their bog standard savers before a FD regular saver matures for the first time?

Definitely. I opened one when I opened my first FD R/S.

Sadly I cannot recall when the balance was previously transferred in.

EarthBoy

PloughmansLunch said:

Is it worth opening one of their bog standard savers before a FD regular saver matures for the first time?

That's not necessary. If you don't already have one, FD just change the Regular Saver into a bog standard saver.  

RG2015

EarthBoy said:

PloughmansLunch said:

Is it worth opening one of their bog standard savers before a FD regular saver matures for the first time?

That's not necessary. If you don't already have one, FD just change the Regular Saver into a bog standard saver.  

Some on here have said that the creation of (or conversion into) a new savings account takes about 5 working days.

My recollection is that the transfer into an existing savings account is within 1 working day.

I agree that it is not necessary but in my opinion it is preferable.

RG2015

RG2015 said:

EarthBoy said:

PloughmansLunch said:

Is it worth opening one of their bog standard savers before a FD regular saver matures for the first time?

That's not necessary. If you don't already have one, FD just change the Regular Saver into a bog standard saver.  

Some on here have said that the creation of (or conversion into) a new savings account takes about 5 working days.

My recollection is that the transfer into an existing savings account is within 1 working day.

I agree that it is not necessary but in my opinion it is preferable.

I have just spoken to FD customer services and their agent said my full balance would be transferred to my current account on Tuesday.

I am a bit confused by the conflicting information but will report back when I have got access to the funds.