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

nottsphil

soulsaver said:

charlie12525 said:

Hanley Economic Building Society

Received an email detailing interest rate cuts w.e.f. 01/07/25.

The one that affects me is the Online Reg Saver which drops from 4.7% to 4.4%.

This was one of my best reg savers due to the high monthly pay in allowance but I have now changed my standing order from the max of 1000 to the min of 250. Might close it later this month.

As you say, an open ended RS with a high deposit is NTH.. if the rate is even 'just OK'.

I would say it's a good thing, although I agree that 4.4% isn't quite 'OK'.

Middle_of_the_Road

nottsphil said:

soulsaver said:

charlie12525 said:

Hanley Economic Building Society

Received an email detailing interest rate cuts w.e.f. 01/07/25.

The one that affects me is the Online Reg Saver which drops from 4.7% to 4.4%.

This was one of my best reg savers due to the high monthly pay in allowance but I have now changed my standing order from the max of 1000 to the min of 250. Might close it later this month.

As you say, an open ended RS with a high deposit is NTH.. if the rate is even 'just OK'.

I would say it's a good thing, although I agree that 4.4% isn't quite 'OK'.

I have Chase at 4.55 and not going to bother moving 18 month's HEBS money for .15%
Opened Cov 4 access 4.5% so I think 4.4% is just ok.

UKX69

Section62 said:

UKX69 said:

Section62 said:

flaneurs_lobster said:

BestSeagull said:

One thing that was mentioned was that there is an App in the works so perhaps this current system is temporary. 

Them introducing an app is not going to help those people without a smartphone.

2FA by SMS is not the most secure of the usual methods but it's better than asking for your first pet's name over the phone.

Poor that they have simply turned it off.

Progressive

I got a bad vibe from them over their account opening and ID checking process, so decided to give them a miss, even though the RS account was a good offer.

Glad I did, as what they've done now with the SMS facility is out of order.

Not progressive at all.

I was thinking of opening a R/S with them. Don’t like the excessive ID criteria though. Did you go as far as applying?

I was one of those who tried applying (several times) only for the application process to fall over before it completed, or for the online ID check to fail.  In the end I spoke to a CS agent about a manual ID check, but their method didn't sound secure.  By then I'd had enough of them.

There was a fair amount of discussion about it at the time. CuparLad's post here is a reasonable summary of how bad it was if you weren't one of the lucky ones for whom everything worked fine...

https://forums.moneysavingexpert.com/discussion/comment/80880475/#Comment_80880475

Thanks for that. 👍

UKX69

Rudyson said:

UKX69 said:

Section62 said:

flaneurs_lobster said:

BestSeagull said:

One thing that was mentioned was that there is an App in the works so perhaps this current system is temporary. 

Them introducing an app is not going to help those people without a smartphone.

2FA by SMS is not the most secure of the usual methods but it's better than asking for your first pet's name over the phone.

Poor that they have simply turned it off.

Progressive

I got a bad vibe from them over their account opening and ID checking process, so decided to give them a miss, even though the RS account was a good offer.

Glad I did, as what they've done now with the SMS facility is out of order.

Not progressive at all.

I was thinking of opening a R/S with them. Don’t like the excessive ID criteria though. Did you go as far as applying?

I was verified electronically when I opened the account, you may not need to jump through any ID hoops

Thanks, hopefully not.

Bobblehat

IanManc said:

flaneurs_lobster said:

BestSeagull said:

One thing that was mentioned was that there is an App in the works so perhaps this current system is temporary. 

Them introducing an app is not going to help those people without a smartphone.

2FA by SMS is not the most secure of the usual methods but it's better than asking for your first pet's name over the phone.

Poor that they have simply turned it off.

As more and more Progressive customers try to log on and find out that they no longer have access to their online accounts then the Savings Help team in the head office in Belfast who have always been polite, kind and extremely efficient will be fielding increasing numbers of calls - like mine - though none of this is their fault.

Meanwhile the clowns who decided to end the sending of SMS notifications to members, without any prior notice or communication at all, will be collecting fat salaries and not having to deal with any of the mess they have created.

Agree! When I eventually got to speak to CS, they were polite and helpful .... but it took them to ring me back after me twice trying to speak to someone unsuccessfully on the "Savings Team" (surely, this is an IT issue!). The switch board said the "team" were completely blocked-up with calls and offered to email the "team" to request a call-back! 

Couple of hours later, I got the call and I had access after a few minutes. Don't fancy having to go through this whenever I'd like to check if SO's have landed ... or whatever! I also did not receive any notification of the change to login procedures.

nottsphil

Middle_of_the_Road said:

nottsphil said:

soulsaver said:

charlie12525 said:

Hanley Economic Building Society

Received an email detailing interest rate cuts w.e.f. 01/07/25.

The one that affects me is the Online Reg Saver which drops from 4.7% to 4.4%.

This was one of my best reg savers due to the high monthly pay in allowance but I have now changed my standing order from the max of 1000 to the min of 250. Might close it later this month.

As you say, an open ended RS with a high deposit is NTH.. if the rate is even 'just OK'.

I would say it's a good thing, although I agree that 4.4% isn't quite 'OK'.

Opened Cov 4 access 4.5% so I think 4.4% is just ok.

Reading again what I quoted, I'm now not at all sure Soulsaver was implying it's an 'OK' rate. In which case, it no longer follows that 'NTH' must be a bad thing! 🤔

Aidanmc

Bobblehat said:

IanManc said:

flaneurs_lobster said:

BestSeagull said:

One thing that was mentioned was that there is an App in the works so perhaps this current system is temporary. 

Them introducing an app is not going to help those people without a smartphone.

2FA by SMS is not the most secure of the usual methods but it's better than asking for your first pet's name over the phone.

Poor that they have simply turned it off.

As more and more Progressive customers try to log on and find out that they no longer have access to their online accounts then the Savings Help team in the head office in Belfast who have always been polite, kind and extremely efficient will be fielding increasing numbers of calls - like mine - though none of this is their fault.

Meanwhile the clowns who decided to end the sending of SMS notifications to members, without any prior notice or communication at all, will be collecting fat salaries and not having to deal with any of the mess they have created.

Agree! When I eventually got to speak to CS, they were polite and helpful .... but it took them to ring me back after me twice trying to speak to someone unsuccessfully on the "Savings Team" (surely, this is an IT issue!). The switch board said the "team" were completely blocked-up with calls and offered to email the "team" to request a call-back! 

Couple of hours later, I got the call and I had access after a few minutes. Don't fancy having to go through this whenever I'd like to check if SO's have landed ... or whatever! I also did not receive any notification of the change to login procedures.

So they had to call you back to give you a code so you could login?

I dont know why they stopped sending codes by SMS. Most other larger banks and building societies still use them.

ChewyyBacca

Bobblehat said:

IanManc said:

flaneurs_lobster said:

BestSeagull said:

One thing that was mentioned was that there is an App in the works so perhaps this current system is temporary. 

Them introducing an app is not going to help those people without a smartphone.

2FA by SMS is not the most secure of the usual methods but it's better than asking for your first pet's name over the phone.

Poor that they have simply turned it off.

As more and more Progressive customers try to log on and find out that they no longer have access to their online accounts then the Savings Help team in the head office in Belfast who have always been polite, kind and extremely efficient will be fielding increasing numbers of calls - like mine - though none of this is their fault.

Meanwhile the clowns who decided to end the sending of SMS notifications to members, without any prior notice or communication at all, will be collecting fat salaries and not having to deal with any of the mess they have created.

Agree! When I eventually got to speak to CS, they were polite and helpful .... but it took them to ring me back after me twice trying to speak to someone unsuccessfully on the "Savings Team" (surely, this is an IT issue!). The switch board said the "team" were completely blocked-up with calls and offered to email the "team" to request a call-back! 

Couple of hours later, I got the call and I had access after a few minutes. Don't fancy having to go through this whenever I'd like to check if SO's have landed ... or whatever! I also did not receive any notification of the change to login procedures.

I called yesterday 3:30 pm, savings team promised IT team will call me.
I expected call to arrive today, none so far. Its almost 5 now, I dont expect any. I think they are inundated with requests.

Dizzycap

friolento said:

charlie12525 said:

Hanley Economic Building Society

Received an email detailing interest rate cuts w.e.f. 01/07/25.

The one that affects me is the Online Reg Saver which drops from 4.7% to 4.4%.

This was one of my best reg savers due to the high monthly pay in allowance but I have now changed my standing order from the max of 1000 to the min of 250. Might close it later this month.

That's me done with the HEBS RS on June 30

I dumped my HEBS RS once the interest rate dropped to 5% as there were higher interest options available at the time on other RS, so for me, it was a no brainer  

Shout out to Principality Building Society who have yet again dealt with online maturity instructions perfectly and  allowing me to hold 3 x 6 Month RS Issue 3; with issue 1 & 2 having both now matured - I love it when systems work 

Aidanmc

ChewyyBacca said:

Bobblehat said:

IanManc said:

flaneurs_lobster said:

BestSeagull said:

One thing that was mentioned was that there is an App in the works so perhaps this current system is temporary. 

Them introducing an app is not going to help those people without a smartphone.

2FA by SMS is not the most secure of the usual methods but it's better than asking for your first pet's name over the phone.

Poor that they have simply turned it off.

As more and more Progressive customers try to log on and find out that they no longer have access to their online accounts then the Savings Help team in the head office in Belfast who have always been polite, kind and extremely efficient will be fielding increasing numbers of calls - like mine - though none of this is their fault.

Meanwhile the clowns who decided to end the sending of SMS notifications to members, without any prior notice or communication at all, will be collecting fat salaries and not having to deal with any of the mess they have created.

Agree! When I eventually got to speak to CS, they were polite and helpful .... but it took them to ring me back after me twice trying to speak to someone unsuccessfully on the "Savings Team" (surely, this is an IT issue!). The switch board said the "team" were completely blocked-up with calls and offered to email the "team" to request a call-back! 

Couple of hours later, I got the call and I had access after a few minutes. Don't fancy having to go through this whenever I'd like to check if SO's have landed ... or whatever! I also did not receive any notification of the change to login procedures.

I called yesterday 3:30 pm, savings team promised IT team will call me.
I expected call to arrive today, none so far. Its almost 5 now, I dont expect any. I think they are inundated with requests.

Sounds like real hassle!

My RS matures on 10th and going to need access.

Maybe i can make the withdrawal through telephone instruction, but i'd like to open a new RS also and i assume this can only be done online.