General Discussion and Whimsical Banter

masonic

Well spotted, that does appear to be a dev site. Would be a bit unprofessional to have the following in production

Bridlington1

jameseonline said:

Why you using a dev/APK link?

I think that's why you getting insane rates tbh

If I go to https://www.leekbs.co.uk I don't get insane rates 

Well spotted, I hadn't noticed I was on a dev/APK link to be honest. I just followed the link to their regular saver on the main regular savers thread at about 5pm and it sent me to:
https://dev-leekbs.apknowhow.co.uk/savings/1saver3/

I've just tested the link on the main regular savers thread again and it now goes to the normal webpage:
https://www.leekbs.co.uk/savings/1saver3/

Possibly a glitch.

jameseonline

I think you just like to hack websites tbh 🤣

masonic

LOL so this is how you get the inside track on all these accounts!

Bob2000

DasTechniker said:

Came out of hospital yesterday after having knee replacement surgery - 30 hour turn around, can’t fault it. Opted for epidural as recovery time is quicker. Part of the prep is having anti sickness drug and some tranquilliser. I think they overdosed the tranquilliser, fell asleep at the start and woke up as they were finishing! Couldn’t make it up. 😂

How is the knee shaping up?

GibbsRule_No3.

Don't shout at me please.

This time last year I decided (about time!) that I would start putting "real" money away. So I did an ISA and a Savings account, now both of these are about to mature. Here is the question that I didn't want you to yell at me for "What do I do now?". Basically how do I go about either closing them, opening new ones or do I just let the Nationwide do everything, letter did mention they would transfer the savings account (You bet they will, I hear some people say) hence a nice easy explanation on how to move, close etc would be gratefully received. Be gentle. If it helps I am:-

a) I am happy to transfer the ISA minus the interest (it won't be much) to a new one.

b) £200 a month savings account the same thing, will I need to change the Standing Order? 

I know if I look around I can no doubt get better rates but I am content to just have any kind of savings at my time of life, rather than have it sitting doing nothing at all. It is just that I have no idea how to move the matured accounts.

dlevene

With the ISA, whatever you do, do not withdraw it yourself as you'll lose the tax free wrapper. Find a new ISA you like, and on opening it, assuming it accepts transfers there will be an option to transfer old year's ISAs in.

Assuming (?) you just want an easy access ISA, you can see some of the best ones here: 

https://moneyfactscompare.co.uk/isa/easy-access-cash-isas/?quick-links-first=false&product-favorites-first=false&sort-order=AER&sort-order-text=Rate

Moneybox is good but is app only and might take a bit of getting used to. Principality or Virgin are probably the best of the "traditional" options. You can pay in the lump sum from the old regular saver as new money.

For a regular saver, see:

https://moneyfactscompare.co.uk/savings-accounts/regular-savings-accounts/?quick-links-first=false&product-favorites-first=false&sort-order=AER&sort-order-text=Rate

Principality are offering 8% but only for six months. First Direct are offering 7% and are very good. You open a current account and a regular saver, they set it up so the former feeds the latter, and you'll need to set up a standing order to the former.

GibbsRule_No3.

dlevene said:

With the ISA, whatever you do, do not withdraw it yourself as you'll lose the tax free wrapper. Find a new ISA you like, and on opening it, assuming it accepts transfers there will be an option to transfer old year's ISAs in.

Thank you for the response. I am happy to just transfer the current ISA into a new Nationwide option, (assume there will be one). I might even like to add the £2600 savings from the one year, monthly £200 savings account, I'd like a new option for that as well, since I'm hoping to continue working and should be able to afford the £200 a month, getting me ready for when I do finally retire. That has a current Standing Order, would I need a new Standing Order to continue saving £200 a month? Would I be able to do that, the total sum would be still under the ISA limit and at present I don't need access to the money? I look at it as getting some interest where as before last year I never did anything to get any.

dlevene

GibbsRule_No3. said:

I am happy to just transfer the current ISA into a new Nationwide option, (assume there will be one).

I mean if you just want to stick to Nationwide, presumably they'll have given you options and you just need to decide which you prefer...

If the Nationwide ISA is now an easy access ISA, you don't need to do anything. If it was a fixed term, I assume they'll have transferred it to an easy access ISA; you can either keep it there, or if you want to open a new fixed term ISA with them and then transfer the old year's balance in. Bearing in mind Nationwide's rates can be beaten.

GibbsRule_No3. said:

 I might even like to add the £2600 savings from the one year, monthly £200 savings account, I'd like a new option for that as well, since I'm hoping to continue working and should be able to afford the £200 a month, getting me ready for when I do finally retire.

As I said, you can transfer (not deposit: remember, never withdraw and deposit ISA balances manually as you'll lose the tax wrapper) the previous year's ISA balance in, and deposit any new money from your old regular saver or anywhere else you want.

For a new regular saver, again, if you want to stick with Nationwide, then just pick the best option. Nationwide offer a 6.5% regular saver which is pretty good although not top of the table.

You mention retirement - have you consulted a pension planner? Retiring is a huge financial event and while £200 a month is all good and well (something always better than nothing), you're going to need something a bit longer term...

GibbsRule_No3. said:

That has a current Standing Order, would I need a new Standing Order to continue saving £200 a month?

You're really going to need to review what info Nationwide have sent you regarding maturity options. I'd assume a new regular saver account would need a new standing order but I don't know for sure.

GibbsRule_No3. said:

Would I be able to do that, the total sum would be still under the ISA limit and at present I don't need access to the money? I look at it as getting some interest where as before last year I never did anything to get any.

Your ISA limit is for new deposits into an ISA only. The transfer of the previous year's ISA doesn't count towards the limit - this is exactly why you want to transfer, not withdraw and redeposit. So if you opened a new ISA, transferred (say) £10k from the previous year's ISA, deposited £2600 from the previous year's regular saver, and then started saving £200/month in a new regular saver, you would only have used £2600 of this year's £20k ISA limit.

GibbsRule_No3.

dlevene,
Technically I am retired, I do work two days a week and get paid but decided last year I'd like to live on the monthly that I will have to play with when I don't do the two days work. Paying less tax will give me more from the Pensions but by not having the £200 a month to spend from my current account now, I'd hope I have a more accurate idea of my monthly money in "full" retirement. In receipt now of work and state pensions. The savings will be a little bonus to pay for treats rather than using the monthly money and stinting.