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

WindfallWendy

I'm just setting up SOs to go into my latest batch of RS accounts, one of which is Leeds Building Society. The Account number is longer than a 'normal' account number though.... To be fair I haven't tried setting an SO up yet, but pre-empting issues, I wondered how others have financed an account with LeedsBS? I've logged in online and it doesn't offer a debit card payment any more (which it did for set up). 

Of course, it's only 4.8% anyway so I'd be better off shovelling my cash reserves into the 5%, £10k Nationwide Bond, but LeedsRS goes on until May 2027 which appeals to me given it matures in the following tax year.

wmb194

WindfallWendy said:

I'm just setting up SOs to go into my latest batch of RS accounts, one of which is Leeds Building Society. The Account number is longer than a 'normal' account number though.... To be fair I haven't tried setting an SO up yet, but pre-empting issues, I wondered how others have financed an account with LeedsBS? I've logged in online and it doesn't offer a debit card payment any more (which it did for set up). 

Of course, it's only 4.8% anyway so I'd be better off shovelling my cash reserves into the 5%, £10k Nationwide Bond, but LeedsRS goes on until May 2027 which appeals to me given it matures in the following tax year.

Leeds should have given you these instructions:



https://www.leedsbuildingsociety.co.uk/help-and-contact/savings-help/

WindfallWendy

THANK YOU!!! I couldn't see that anywhere on my dashboard or in the material I'd copied when setting the account up. I just made a penny transfer to see if it works, but am reassured that this is the way they advise too. I was a bit worried about the reference number as so many BS's seem to use a separate string of numbers. 

Thanks again. 

poshrule_uk

I have miscalculated the amount of funds I have for my HSBC Regular Saver this month and reduced my standing order down and have now realised I could have met the full amount of £250. As the standing order is due tomorrow I can't increase the amount back up. Can I just transfer over the difference tomorrow to make it up to £250 or have I got to wait until next month so I can pay in this month's subscription?

Bridlington1

Just a reminder the following interest rate cuts come into effect tomorrow:

Account	Old rate	New rate	Date
Skipton Home Deposit Saver Issue 1-3	4.56%	4.31%	09/06/2025
Suffolk BS Online 1 Year Variable Rate Regular Saver (30.09.2025)	5.00%	4.75%	09/06/2025
Suffolk BS Variable Rate Regular Saver (31.05.2026)	4.80%	4.55%	09/06/2025
Suffolk BS 1 Year Variable Rate Regular Saver (31.12.2025) (includes online)	5.00%	4.75%	09/06/2025
Suffolk BS 2 Year Variable Rate Regular Saver (31.12.2026)	4.80%	4.55%	09/06/2025
Suffolk BS 1 Year Variable Rate Regular Saver (31.03.2026) (includes online)	5.00%	4.75%	09/06/2025
Suffolk BS 2 Year Variable Rate Regular Saver (31.12.2025)	4.80%	4.55%	09/06/2025

flaneurs_lobster

poshrule_uk said:

I have miscalculated the amount of funds I have for my HSBC Regular Saver this month and reduced my standing order down and have now realised I could have met the full amount of £250. As the standing order is due tomorrow I can't increase the amount back up. Can I just transfer over the difference tomorrow to make it up to £250 or have I got to wait until next month so I can pay in this month's subscription?

Don't believe so, payments have to be by standing order. As you say you can add any shortfall from this month's max onto next month's payment.

Might be worth asking their CS about a late SO change but I think that anything paying tomorrow is well into the payment cycle and probably can't be amended.

csw5780

flaneurs_lobster said:

poshrule_uk said:

I have miscalculated the amount of funds I have for my HSBC Regular Saver this month and reduced my standing order down and have now realised I could have met the full amount of £250. As the standing order is due tomorrow I can't increase the amount back up. Can I just transfer over the difference tomorrow to make it up to £250 or have I got to wait until next month so I can pay in this month's subscription?

Don't believe so, payments have to be by standing order. As you say you can add any shortfall from this month's max onto next month's payment.

Might be worth asking their CS about a late SO change but I think that anything paying tomorrow is well into the payment cycle and probably can't be amended.

I cancelled my SO after the first payment. I use internal transfer from my HSBC current account without issue. 

janusd

flaneurs_lobster said:

poshrule_uk said:

I have miscalculated the amount of funds I have for my HSBC Regular Saver this month and reduced my standing order down and have now realised I could have met the full amount of £250. As the standing order is due tomorrow I can't increase the amount back up. Can I just transfer over the difference tomorrow to make it up to £250 or have I got to wait until next month so I can pay in this month's subscription?

Don't believe so, payments have to be by standing order.

I don't believe that payments have to be made via Standing Order - or at least if that is a condition (I know it says it on page 1 too), it isn't enforced.
I think it was previously discussed in this thread (which is where I got the idea) that you could cancel the SO and, as long as the payments are received from the relevant HSBC current account, those deposits will be fine - this is what I do, I transfer £250 from my main banking external current account to the HSBC current account and then do an internal transfer across to the regular saver... i've done that for at least the last 9 months with no issues.

flaneurs_lobster

janusdesign said:

flaneurs_lobster said:

poshrule_uk said:

I have miscalculated the amount of funds I have for my HSBC Regular Saver this month and reduced my standing order down and have now realised I could have met the full amount of £250. As the standing order is due tomorrow I can't increase the amount back up. Can I just transfer over the difference tomorrow to make it up to £250 or have I got to wait until next month so I can pay in this month's subscription?

Don't believe so, payments have to be by standing order.

I don't believe that payments have to be made via Standing Order - or at least if that is a condition (I know it says it on page 1 too), it isn't enforced.
I think it was previously discussed in this thread (which is where I got the idea) that you could cancel the SO and, as long as the payments are received from the relevant HSBC current account, those deposits will be fine - this is what I do, I transfer £250 from my main banking external current account to the HSBC current account and then do an internal transfer across to the regular saver... i've done that for at least the last 9 months with no issues.

I stand corrected, I don't have one of these RSs and assumed (wrongly) that it would be as the First Direct equivalent, unless I'm wrong about that too?

masonic

flaneurs_lobster said:

janusdesign said:

flaneurs_lobster said:

poshrule_uk said:

I have miscalculated the amount of funds I have for my HSBC Regular Saver this month and reduced my standing order down and have now realised I could have met the full amount of £250. As the standing order is due tomorrow I can't increase the amount back up. Can I just transfer over the difference tomorrow to make it up to £250 or have I got to wait until next month so I can pay in this month's subscription?

Don't believe so, payments have to be by standing order.

I don't believe that payments have to be made via Standing Order - or at least if that is a condition (I know it says it on page 1 too), it isn't enforced.
I think it was previously discussed in this thread (which is where I got the idea) that you could cancel the SO and, as long as the payments are received from the relevant HSBC current account, those deposits will be fine - this is what I do, I transfer £250 from my main banking external current account to the HSBC current account and then do an internal transfer across to the regular saver... i've done that for at least the last 9 months with no issues.

I stand corrected, I don't have one of these RSs and assumed (wrongly) that it would be as the First Direct equivalent, unless I'm wrong about that too?

First Direct does require a standing order, so yes HSBC is different.