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

HHUK

akh43 said:

Re the Virgin 10% RS which recently closed, I transferred out the balance £3,137.93 once it changed to the EA in the early hours, but wasn't sure if any further interest was due as it last received interest of £64.10 on 30 June and then paid my final £250 on 3 July which brought the balance to what I withdrew, so wondering if there is a bit of interest due for July. Looking to finally get rid of Virgin once everything is sorted. 

Does the new Virgin Regular Saver Exclusive Issue 3 offering 6.5% (fixed) not appeal?
I understand from previous comments on this thread that the interest for July will be paid at the end of September, unless you close the account that matured before then.

akh43

No it doesn't really appeal, I have a 6.50% Nationwide, 6.25% Skipton and 5.74% Coventry and decided to drop to 3 RS for a while unless something higher than I have appears, which I doubt.  Not closed the Virgin EA I transferred the money out for now so its showing zero.  I don't really want to wait until September so maybe I should actually close the EA account to see if that generates the last bit of interest. Strange way of doing it giving the final interest so long after maturity.

All I have left with Virgin is the current with pennies in, the M Saver again with pennies in and the other 2 accounts at zero, hence why looking to get rid as have had many issues with Virgin over the past few years.  I only opened in the first place to get a good rate ISA several years ago and have never really used the current account, just used for savings.

fuzzzzy

akh43 said:

No it doesn't really appeal, I have a 6.50% Nationwide, 6.25% Skipton and 5.74% Coventry and decided to drop to 3 RS for a while unless something higher than I have appears, which I doubt.  Not closed the Virgin EA I transferred the money out for now so its showing zero.  I don't really want to wait until September so maybe I should actually close the EA account to see if that generates the last bit of interest. Strange way of doing it giving the final interest so long after maturity.

All I have left with Virgin is the current with pennies in, the M Saver again with pennies in and the other 2 accounts at zero, hence why looking to get rid as have had many issues with Virgin over the past few years.  I only opened in the first place to get a good rate ISA several years ago and have never really used the current account, just used for savings.

I quite like Virgin Money for compensation. They have !!!!!! up so many times in various ways for me that I have had plenty from them.

friolento

akh43 said:

No it doesn't really appeal, I have a 6.50% Nationwide, 6.25% Skipton and 5.74% Coventry and decided to drop to 3 RS for a while unless something higher than I have appears, which I doubt.  Not closed the Virgin EA I transferred the money out for now so its showing zero.  I don't really want to wait until September so maybe I should actually close the EA account to see if that generates the last bit of interest. Strange way of doing it giving the final interest so long after maturity.

All I have left with Virgin is the current with pennies in, the M Saver again with pennies in and the other 2 accounts at zero, hence why looking to get rid as have had many issues with Virgin over the past few years.  I only opened in the first place to get a good rate ISA several years ago and have never really used the current account, just used for savings.

6.5% is better than 5.74% and 6.25%, no? 

If your 10% Virgin RS was full, you should receive something in the order of £22 interest for July.

You would be in good company if you kept a cost- and maintenance-free dormant VM current account, as it might serve as a pre-req  for interesting accounts, such as their ISAs and Regular Savers. The 6.5% gives those with historic VM accounts essentially two (some people even three) 6.5% Nationwide RSs. Who knows what other gooddies and opportunities might appear. 

Dizzycap

akh43 said:

No it doesn't really appeal, I have a 6.50% Nationwide, 6.25% Skipton and 5.74% Coventry and decided to drop to 3 RS for a while unless something higher than I have appears, which I doubt.  Not closed the Virgin EA I transferred the money out for now so its showing zero.  I don't really want to wait until September so maybe I should actually close the EA account to see if that generates the last bit of interest. Strange way of doing it giving the final interest so long after maturity.

All I have left with Virgin is the current with pennies in, the M Saver again with pennies in and the other 2 accounts at zero, hence why looking to get rid as have had many issues with Virgin over the past few years.  I only opened in the first place to get a good rate ISA several years ago and have never really used the current account, just used for savings.

I would have thought a Virgin 6.5% fixed rate RS would have been very appealing as the 3 you have a variable. Personally, I'd ditch the 5.74% Coventry RS & open the Virgin RS, but that's me:-)

s71hj

friolento said:

akh43 said:

No it doesn't really appeal, I have a 6.50% Nationwide, 6.25% Skipton and 5.74% Coventry and decided to drop to 3 RS for a while unless something higher than I have appears, which I doubt.  Not closed the Virgin EA I transferred the money out for now so its showing zero.  I don't really want to wait until September so maybe I should actually close the EA account to see if that generates the last bit of interest. Strange way of doing it giving the final interest so long after maturity.

All I have left with Virgin is the current with pennies in, the M Saver again with pennies in and the other 2 accounts at zero, hence why looking to get rid as have had many issues with Virgin over the past few years.  I only opened in the first place to get a good rate ISA several years ago and have never really used the current account, just used for savings.

6.5% is better than 5.74% and 6.25%, no? 

If your 10% Virgin RS was full, you should receive something in the order of £22 interest for July.

You would be in good company if you kept a cost- and maintenance-free dormant VM current account, as it might serve as a pre-req  for interesting accounts, such as their ISAs and Regular Savers. The 6.5% gives those with historic VM accounts essentially two (some people even three) 6.5% Nationwide RSs. Who knows what other gooddies and opportunities might appear. 

What are these 2 or even 3 Nationwide 6.5% RS of which you speak?! 

friolento

s71hj said:

friolento said:

akh43 said:

No it doesn't really appeal, I have a 6.50% Nationwide, 6.25% Skipton and 5.74% Coventry and decided to drop to 3 RS for a while unless something higher than I have appears, which I doubt.  Not closed the Virgin EA I transferred the money out for now so its showing zero.  I don't really want to wait until September so maybe I should actually close the EA account to see if that generates the last bit of interest. Strange way of doing it giving the final interest so long after maturity.

All I have left with Virgin is the current with pennies in, the M Saver again with pennies in and the other 2 accounts at zero, hence why looking to get rid as have had many issues with Virgin over the past few years.  I only opened in the first place to get a good rate ISA several years ago and have never really used the current account, just used for savings.

6.5% is better than 5.74% and 6.25%, no? 

If your 10% Virgin RS was full, you should receive something in the order of £22 interest for July.

You would be in good company if you kept a cost- and maintenance-free dormant VM current account, as it might serve as a pre-req  for interesting accounts, such as their ISAs and Regular Savers. The 6.5% gives those with historic VM accounts essentially two (some people even three) 6.5% Nationwide RSs. Who knows what other gooddies and opportunities might appear. 

What are these 2 or even 3 Nationwide 6.5% RS of which you speak?! 

Some of us have the now NLA Nationwide 6.5% RS. Those lucky enough having two VM current accounts with different sort codes can have two 6.5% VM RSs, one against each of the current accounts. As VM is owned by Nationwide, that makes 3 Nationwide RSs.

s71hj

friolento said:

s71hj said:

friolento said:

akh43 said:

No it doesn't really appeal, I have a 6.50% Nationwide, 6.25% Skipton and 5.74% Coventry and decided to drop to 3 RS for a while unless something higher than I have appears, which I doubt.  Not closed the Virgin EA I transferred the money out for now so its showing zero.  I don't really want to wait until September so maybe I should actually close the EA account to see if that generates the last bit of interest. Strange way of doing it giving the final interest so long after maturity.

All I have left with Virgin is the current with pennies in, the M Saver again with pennies in and the other 2 accounts at zero, hence why looking to get rid as have had many issues with Virgin over the past few years.  I only opened in the first place to get a good rate ISA several years ago and have never really used the current account, just used for savings.

6.5% is better than 5.74% and 6.25%, no? 

If your 10% Virgin RS was full, you should receive something in the order of £22 interest for July.

You would be in good company if you kept a cost- and maintenance-free dormant VM current account, as it might serve as a pre-req  for interesting accounts, such as their ISAs and Regular Savers. The 6.5% gives those with historic VM accounts essentially two (some people even three) 6.5% Nationwide RSs. Who knows what other gooddies and opportunities might appear. 

What are these 2 or even 3 Nationwide 6.5% RS of which you speak?! 

Some of us have the now NLA Nationwide 6.5% RS. Those lucky enough having two VM current accounts with different sort codes can have one 6.5% VM RSs, one against each of the current accounts. As VM is owned by Nationwide, that makes 3 Nationwide RSs.

Reinforces my increasing view that I should totally close pretty much nothing account wise

Bridlington1

s71hj said:

friolento said:

s71hj said:

friolento said:

akh43 said:

No it doesn't really appeal, I have a 6.50% Nationwide, 6.25% Skipton and 5.74% Coventry and decided to drop to 3 RS for a while unless something higher than I have appears, which I doubt.  Not closed the Virgin EA I transferred the money out for now so its showing zero.  I don't really want to wait until September so maybe I should actually close the EA account to see if that generates the last bit of interest. Strange way of doing it giving the final interest so long after maturity.

All I have left with Virgin is the current with pennies in, the M Saver again with pennies in and the other 2 accounts at zero, hence why looking to get rid as have had many issues with Virgin over the past few years.  I only opened in the first place to get a good rate ISA several years ago and have never really used the current account, just used for savings.

6.5% is better than 5.74% and 6.25%, no? 

If your 10% Virgin RS was full, you should receive something in the order of £22 interest for July.

You would be in good company if you kept a cost- and maintenance-free dormant VM current account, as it might serve as a pre-req  for interesting accounts, such as their ISAs and Regular Savers. The 6.5% gives those with historic VM accounts essentially two (some people even three) 6.5% Nationwide RSs. Who knows what other gooddies and opportunities might appear. 

What are these 2 or even 3 Nationwide 6.5% RS of which you speak?! 

Some of us have the now NLA Nationwide 6.5% RS. Those lucky enough having two VM current accounts with different sort codes can have one 6.5% VM RSs, one against each of the current accounts. As VM is owned by Nationwide, that makes 3 Nationwide RSs.

Reinforces my increasing view that I should totally close pretty much nothing account wise

As a counter-argument though some banks have been known to exclude existing customers from their switching offers (Virgin being among them). Many grabbed their 25% cashback on certain spending switching offer in 2022. Those who later switched out became eligible for the 12% interest on the current account switching offer last year, those who kept their current account were excluded on the grounds that they were an existing customer.

Moreover you'll often get some accounts which wouldn't be competitive in the future, e.g. accounts that have matured into very poor EA accounts so closing some of them can be handy to free up some of your funds for better paying accounts.

Aside from the accounts I use, I generally keep an account with each bank/building society (oldest if possible, particularly with YBS) that I keep for ``loyalty purposes" and those that I think might become useful in the future, but the rest I'll get rid of as I can afford to be selective.

I've still ended up with well over 100 accounts though, quite a large minority are regular savers.

Gers

Bridlington1 said:

I've still ended up with well over 100 accounts though, quite a large minority are regular savers.

HMRC agent told me earlier this year that I had 70 accounts. I then closed nine and have subsequently opened another nine. Like above, I keep one YBS account with only £1.00 to ensure membership. 

On Friday I closed my Nationwide RS3 a month early and then was able to open their RS6, still at 6.50% though now variable. 

My Coventry First Home Saver matures later this week but I was able to open a new one despite the T&Cs saying that only one can be held. I transferred across for the first deposit.

On a different note - I've had great customer service from a very patient and helpful agent at Suffolk Building Society when I got myself in knots between their online and branch RSs.