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

Stargunner

flaneurs_lobster said:

Stargunner said:

flaneurs_lobster said:

CricketLady said:

Stargunner said:

[Quoted post removed by Forum Team]

Same for me. 2nd issue 3 now open.

I mistakenly made a 7th payment of £200 to my issue 2 on the 1st June. I expected the money to be returned to me, but it was credited to the account which gave me a total of £1400.

£200 is now sitting in my issue 3 and £1228 is being paid to my nominated bank acc.

I wonder if they paid interest on that last £200 - I didn't pay an extra £200 in on the 1st of June, mine also matured today and I got £28.27 interest

Bit difficult to tell from the quoted figures - £200 @ 8% for 4 days is 18p.

I received £1228.31, and the other £200 went into issue 3. That should enable you to work it out, if you want to.

I received £1228.44 and the other £200 went into issue 3. So that's cleared that up then.

I just remembered that earlier this year I mistakenly paid 2 deposits into one Principality saver, resulting in another one not being funded on the 1st.
Looking back at my transactions, it was this one that got missed and I didn't make the March deposit until the 4th, which explains why you received slightly more interest.

Kim_13

devansuk said:

I have the fear of withdrawing my natwest digital regular saver account to another higher interest easy access account because it took me years to get to 5k from only £150 a month out! Anyone else feel the same? Wondering if its worth it for the extra 0.5 %

I regret doing it in 2023 if that’s any help (mostly funding 8% and 7% Regular Savers, so the difference was greater.) If the account you’re moving to is variable rate, you don’t know when the NatWest DRS will become the better option. You have a headache when the account(s) you move to are no longer useful, and you end up putting some of it at a lower rate than it would’ve been earning had you left it. 

I now plan to get to £5k and leave it there as an Emergency Fund, the same for Melton Issue 5 (5% on up to £5,999.99.) 

Hattie627

MichaelAP said:

devansuk said:

I have the fear of withdrawing my natwest digital regular saver account to another higher interest easy access account because it took me years to get to 5k from only £150 a month out! Anyone else feel the same? Wondering if its worth it for the extra 0.5 %

Depends if you want an extra £2.05 per month (5000x0.5%/365x30=2.05)  

Or £1.23 extra per month if you pay tax at 40%

Saver53

Saffron Refer a Friend
My Refer a Friend account (oened before Monday's "clarification" of the T&Cs) has been closed this morning as I was an existing customer.  I got a full 3p interest....

flaneurs_lobster

Saver53 said:

Saffron Refer a Friend
My Refer a Friend account (oened before Monday's "clarification" of the T&Cs) has been closed this morning as I was an existing customer.  I got a full 3p interest....

Anyone fancy being the first to make a formal complaint about these closures and demand compensation?

s71hj

devansuk said:

I have the fear of withdrawing my natwest digital regular saver account to another higher interest easy access account because it took me years to get to 5k from only £150 a month out! Anyone else feel the same? Wondering if its worth it for the extra 0.5 %

I have a feeling that these types of accounts are to some extent flagships/ bait to attract in customers, so having done this reduction they will keep it here for a while, so that in 6 months if rates continue to drop it looks a lot more attractive again. It's why I stick with Santander Edge up to fund my regular savers 

chris_the_bee

flaneurs_lobster said:

Saver53 said:

Saffron Refer a Friend
My Refer a Friend account (oened before Monday's "clarification" of the T&Cs) has been closed this morning as I was an existing customer.  I got a full 3p interest....

Anyone fancy being the first to make a formal complaint about these closures and demand compensation?

Saffron Refer a Friend
I also received closure and 3p interest. Plus an email saying:- 

"We’ve closed your savings account

Thank you for your request to close this account. We’ve carried out the closure and the balance sent as per your request."

Which is also incorrect, as I certainly did not request closure.

I feel a complaint is justified.

flaneurs_lobster

chris_the_bee said:

Which is also incorrect, as I certainly did not request closure.

I feel a complaint is justified.

Are you serious?

I was being flippant, trying to persuade people that we don't need dozens of posts on here detailing the identical way in which Saffron have closed these accounts for them.

Middle_of_the_Road

s71hj said:

devansuk said:

I have the fear of withdrawing my natwest digital regular saver account to another higher interest easy access account because it took me years to get to 5k from only £150 a month out! Anyone else feel the same? Wondering if its worth it for the extra 0.5 %

I have a feeling that these types of accounts are to some extent flagships/ bait to attract in customers, so having done this reduction they will keep it here for a while, so that in 6 months if rates continue to drop it looks a lot more attractive again. It's why I stick with Santander Edge up to fund my regular savers 

Totally agree, I wouldn't withdraw for a maybe temporary small percentage gain.  NatWest and RBS savers are a solid proposition, with stable rates compared to other options.

trickydicky14

devansuk said:

I have the fear of withdrawing my natwest digital regular saver account to another higher interest easy access account because it took me years to get to 5k from only £150 a month out! Anyone else feel the same? Wondering if its worth it for the extra 0.5 %

The thing is you can get to 5K much quicker these days with 5x round ups.