The Old Regular Savers Discussion Thread 28/12/24-29/1/26

janusd

Chadsman said:

bristolleedsfan said:

Re Coventry withdrawals 

I requested late morning today, arrived by middle of the afternoon.

Coventry are now doing same day withdrawals?

FWIW my recent experience was similar - my Coventry Loyalty RS matured on the 2nd April and was converted to an Easy Access account (paying 2.45%) - I closed it @ 11:51am and transferred the entire balance to my nominated account... I was expecting to receive it next day, but it arrived 2:19pm the same day - so 2.5 hours after closing the account.

where_are_we

happybagger said:

@Bridlington1 - Rate reduction

Hanley Economic Building Society

Online Regular Saver (NLA)

Reduces from 5.00% to 4.70% wef 1 May 2025

source

Just checked the t&cs of this account, as I was going to reduce it to the minimum.
For anyone else thinking of doing that the minimum is £250 p/m. Closure for me.

 Hanley RS was open ended with no maturity, so might thave been worth keeping if minimum monthly funding was low eg £25/month. I will be closing mine as well. It will release funds for new 25-26 ISA deposits.

They did have a Member RS in the past so I might open an easy access online with £100 and after 10 days reduce that to £1 to keep a presence?

Kim_13

happybagger said:

@Bridlington1 - Rate reduction

Hanley Economic Building Society

Online Regular Saver (NLA)

Reduces from 5.00% to 4.70% wef 1 May 2025

source

Just checked the t&cs of this account, as I was going to reduce it to the minimum.
For anyone else thinking of doing that the minimum is £250 p/m. Closure for me.

The first time this account has paid less than 0.25% more than the NLA Branch Saver (currently at 4.5% as tracks the BOE Base Rate with no deduction.)

This was one account I never got due to not being able to commit to £250 per month to what was never a top payer, as nice as the indefinite term and debit card facility are.

jameseonline

Checked my CO OP accounts today, seems what was my regular saver (now smart saver) generated an extra 47p on 4th April.

So that's on top of the £124.18 for having £3250

On another note I checked my Aldermore account the other day, surprised I didn't get an email saying it was ending to be honest, I got £15.51 interest on a £300 deposit, requested withdrawal got funds next day, left account with £1 

happybagger

where_are_we said:

They did have a Member RS in the past so I might open an easy access online with £100 and after 10 days reduce that to £1 to keep a presence?

I had intended to close the Branch Saver at 4.5% and keep the RS at 5% but this change means I'll reverse the plan, even though the Branch Saver requires £1k. For now I'm not too worried about £1k at 4.5% - it is easy access even if only to close.

What I do want, like where_are_we above, is to release some cash for ISAs and reduce my monthly outgoings.

soulsaver

happybagger said:

@Bridlington1 - Rate reduction

Hanley Economic Building Society

Online Regular Saver (NLA)

Reduces from 5.00% to 4.70% wef 1 May 2025

source

Just checked the t&cs of this account, as I was going to reduce it to the minimum.
For anyone else thinking of doing that the minimum is £250 p/m. Closure for me.

I think I'll test their resolve on 'miss 3 consecutive months pay in..' clause - see if I then get 60 days notice of closure.
Subject to what that says, and prevailing rates, maybe start up again at £250.. or let it close.
See how things pan out.

If you have everything above 4.70% and still got cash that dodged the Trump bullets.. 

soulsaver

@Bridlington1

Thanks for all your efforts - they're the Bees Knees bar none IMO

Suggestion: In view of the lousy search facility, it's getting increasingly difficult to find the archive terms.

As you are so prolific, can I be bold and suggest you put the link in your signature box so we can click on it & find it easily?

In addition, I'll add it into the ToTP page; it was there before but it's been lost somewhere in the ether...

Bridlington1

soulsaver said:

Bridlington1

Thanks for all your efforts - they're the Bees Knees bar none IMO

Suggestion: In view of the lousy search facility, it's getting increasingly difficult to find the archive terms.

As you are so prolific, can I be bold and suggest you put the link in your signature box so we can click on it & find it easily?

In addition, I'll add it into the ToTP page; it was there before but it's been lost somewhere in the ether...

Firstly thanks for the compliment.

In regards to adding a link to the Archived Thread in my signature whilst I appreciate the suggestion I shall not be doing so at present on the grounds that a link to the Archived Thread appears several times in the opening post on the first page of this thread. Therefore I don't see it as being necessary to include a link in my signature as you can just go to page 1 of this thread for a link at any time.

Moreover if I were to start adding a link to the Archived thread in my signature I could just as easily add a link to this thread, as well as the Savings/investment DDs and debit card deposits thread, and with the Archived List of Switching Offers thrown in, which could leave the signature becoming a tad lengthy.

If I may make one suggestion of my own though, if you would like to include a link to the regular savers thread in the ToTP page would you be able to post a link to this thread instead of the Archived thread?

allegro120

where_are_we said:

happybagger said:

@Bridlington1 - Rate reduction

Hanley Economic Building Society

Online Regular Saver (NLA)

Reduces from 5.00% to 4.70% wef 1 May 2025

source

Just checked the t&cs of this account, as I was going to reduce it to the minimum.
For anyone else thinking of doing that the minimum is £250 p/m. Closure for me.

 Hanley RS was open ended with no maturity, so might thave been worth keeping if minimum monthly funding was low eg £25/month. I will be closing mine as well. It will release funds for new 25-26 ISA deposits.

They did have a Member RS in the past so I might open an easy access online with £100 and after 10 days reduce that to £1 to keep a presence?

Hanley
I’ve just had a look. No member RS, they offer member loyalty EA paying 3.1%. “You must have been a member of the Society for a minimum period of 2 years. Membership is defined as having either a savings balance of £100 or more or a mortgage balance of £100 or more for a minimum period of 2 years prior to the date of opening a Member Loyalty Reward savings account.”…. “ You can withdraw once per calendar month without notice or penalty up to £500 in cash and £50,000 by cheque on demand from our branches or by sending us your written instructions.” 

They offer online instant access paying 1.61%. Minimum £100 deposit. Can reduce it to £1 10 days after opening.  I might do that for continuous membership, but haven’t decided yet. 

As for the existing RS, I will have to withdraw (2 withdrawals for me because I have more that £10k in this account) or close.  It may be worth use 3 months payment holiday and see what happens in July with regards to rates. The inconvenience will be keeping the interest compounding at 4,7%, which is too low for me.

happybagger

allegro120 said:

As for the existing RS, I will have to withdraw (2 withdrawals for me because I have more that £10k in this account) or close.  It may be worth use 3 months payment holiday and see what happens in July with regards to rates. The inconvenience will be keeping the interest compounding at 4,7%, which is too low for me.

I don't see any £10k limit in the t&cs for this account, just 5 withdrawals per year limit?

Edit: Yes I see it in the "general" savings terms. Still, only two withdrawals one day after the other.