Regular savers ending - can I open a new one?

housebuyer143

refluxer said:

housebuyer143 said:

refluxer said:

RE: Halifax Regular Saver

As the previous poster experienced, if you left the Everyday Saver account (that Halifax will have opened automatically alongside the Regular Saver) open, the balance of the maturing RS will get paid into the ES and the RS will continue.

If you closed the ES, the RS will get converted to a new ES but you'll be free to open another RS straight away. 

Thanks, I'm not sure I'll restart the Halifax one as my EA at Skipton is close to 5.5% anyway. First direct and a new Skipton RS are worth it in my opinion.

The 5.5% Halifax RS is fixed though and interest rates are predicted to fall. With the best easy access accounts currently available now paying around 5%, I can't imagine your Skipton EA rate will hold out for too much longer ?

Thanks, the Skipton one is linked to base rate so if that falls then so will the date, but otherwise it's sitting steady. I didn't realise it was fixed 🤔🤔 might give it some more thought.

35har1old

Newbie_John said:

Yep, they will turn to some basic savings account (first direct for example)
As soon as it closes, open a new one, pay the £200 in and continue again for a year.. with the remaining money you can do whatever you wish - open ISA, instant saving account etc.

It's three hundred 

allegro120

born_again said:

That's what I love about the Santander one. It just keeps rolling along. Funds transferred out to current account & if you set your S/O with no end dates. Jobs a good un, no action required to continue for another year.

I like how it works, but 5% is too low for RS. I reduced my balance to zero 8 months ago.

jameseonline

5% is too low, plenty of accounts are 5.25% up to 7% for a regular saver 

Skipton_Building_Society_Representative

housebuyer143 said:

So my regular savers with Skipton, First Direct and Halifax are coming to an end next month 😕 
Am I able to open another one as soon as the old one has ended? 

Also - do they automatically close it? How do I get my money back? Is it going to ask for maturity instructions? 

Hi there, please feel free to reach out to us if you require further support with your Skipton Regular Saver account https://www.skipton.co.uk/contact-us. Thanks - Skipton