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

jameseonline

Going to have close my Nationwide Issue 3 early to free up funds for start of next month, seems I can't do this via app but can do on their website.

They should get that sorted out in future.

I figure I'll be able to get the latest Nationwide Regular when I can & for time being I have the new Virgin one at same rate + can fund £50 more each month into that compared to Nationwide anyway.

5th September I'll get my Coventry Sunny Day Saver funds.

When are the remaining Virgin Money showing up again?, end of August/start of September?

KneadtheDough

Kim_13 said:

allegro120 said:

PowerSavingMode said:

Growingold said:

gt94sss2 said:

liamcov said:

My Monmouthshire RS issue 2 expires soon, using the login details from the maturity letter, the only options are transferring to another Mon account or receiving a cheque - if I wait until it turns into a different savings account will I be able to close and select a transfer to my bank?

Yes, or post the enclosed form back to them

I closed mine early online and all funds including interest were in my nominated account later that day

Monmouthshire RS issue 2 

Did you have to pay any charges or lose any interest, and was this outside the '30-day change-of-interest notice'?

There’s no restrictions on withdrawals or closure for this account, no charges or penalties. 

RS Issue 2 was some time ago as they are now on Issue 8, I expect the poster means Exclusive Issue 2 which does not allow withdrawals (but there aren’t any penalties if Monmouthshire will process an early closure.)

Yes, quite right, I did mean the MonBS Exclusive RS issue 2, sorry for any confusion. So, if I ask Monmouthshire to close this account early and they process that instruction on my behalf, then there will no charges or loss of interest?

allegro120

PowerSavingMode said:

Kim_13 said:

allegro120 said:

PowerSavingMode said:

Growingold said:

gt94sss2 said:

liamcov said:

My Monmouthshire RS issue 2 expires soon, using the login details from the maturity letter, the only options are transferring to another Mon account or receiving a cheque - if I wait until it turns into a different savings account will I be able to close and select a transfer to my bank?

Yes, or post the enclosed form back to them

I closed mine early online and all funds including interest were in my nominated account later that day

Monmouthshire RS issue 2 

Did you have to pay any charges or lose any interest, and was this outside the '30-day change-of-interest notice'?

There’s no restrictions on withdrawals or closure for this account, no charges or penalties. 

RS Issue 2 was some time ago as they are now on Issue 8, I expect the poster means Exclusive Issue 2 which does not allow withdrawals (but there aren’t any penalties if Monmouthshire will process an early closure.)

Yes, quite right, I did mean the MonBS Exclusive RS issue 2, sorry for any confusion. So, if I ask Monmouthshire to close this account early and they process that instruction on my behalf, then there will no charges or loss of interest?

I closed my MonBS Exclusive RS issue 2 last month.  There were no charges or loss of interest and funds arrived to my bank account on the same day. This was outside the '30-day change-of-interest notice'.

Growingold

PowerSavingMode said:

Growingold said:

gt94sss2 said:

liamcov said:

My Monmouthshire RS issue 2 expires soon, using the login details from the maturity letter, the only options are transferring to another Mon account or receiving a cheque - if I wait until it turns into a different savings account will I be able to close and select a transfer to my bank?

Yes, or post the enclosed form back to them

I closed mine early online and all funds including interest were in my nominated account later that day

Monmouthshire RS issue 2 

Did you have to pay any charges or lose any interest, and was this outside the '30-day change-of-interest notice'?

No I didn't pay any charges.  It was due to mature on 29/08 but closed it about 3 weeks earlier.  After I'd closed it I received the maturity letter.  As far as I'm aware interest was correct  since the rate had long gone down to 4.9%.  Hadn't realised I could close it until someone else mentioned it.

Section62

jameseonline said:

...
I figure I'll be able to get the latest Nationwide Regular when I can & for time being I have the new Virgin one at same rate + can fund £50 more each month into that compared to Nationwide anyway.
...

Personally I'd open a new Nationwide RS as soon as allowed and stick in the minimum balance (£1 ?).

Nationwide have past form for pulling their RS offering with no prior warning and then going a long time before offering a new one.  If you have the account opened already then you can't miss out if they do pull the account.

Your potential loss from opening a new one now would be not having the maximum benefit from the 12-month term. But a less-than-maximum-benefit is a better outcome than no benefit at all, if you did miss out.  You could also consider repeating the closing/opening when you are ready to fund the account.

mhoc

jameseonline said:

Going to have close my Nationwide Issue 3 early to free up funds for start of next month, seems I can't do this via app but can do on their website.

They should get that sorted out in future.

I figure I'll be able to get the latest Nationwide Regular when I can & for time being I have the new Virgin one at same rate + can fund £50 more each month into that compared to Nationwide anyway.

5th September I'll get my Coventry Sunny Day Saver funds.

When are the remaining Virgin Money showing up again?, end of August/start of September?

Yes Nationwide are annoying like that - closure only via the website (and only in office hours I think??) 

I would not risk being without the Nationwide regular saver (incase they withdraw the product with no notice) so I would close the ongoing one and then reopen a new version with the minimum deposit of maybe £1 - action opening the new Nationwide account this week as it will help with cash flow in August 2026.
Then when the Coventry sunny days matures you will have a better idea of what cash is left and if so you can then fund the Nationwide regular saver (and set up the standing order to fund until August 1st 2026 so you will still have 12 payments in the account) 

(Similar issue here with the cash shortfall so I've redesignated my Leek regular savers (with their forthcoming pitiful 4.20% interest rate) as sacrificial goats (OHs and mine). I will be withdrawing chunks as and when needed (I think 3 withdrawals allowed) in readiness for the 1st of the month when there is a shortfall - my trial withdrawal was immediate so now I know I can leave this job until the last week of the month)

s71hj

Remind me what the FD regular saver process is. Mine matured today and has basically disappeared, replaced by a standard savings account and I've been able to successfully apply for a new one, but where do the matured funds re-emerge as accessible to me from the old one? 

flaneurs_lobster

s71hj said:

Remind me what the FD regular saver process is. Mine matured today and has basically disappeared, replaced by a standard savings account and I've been able to successfully apply for a new one, but where do the matured funds re-emerge as accessible to me from the old one? 

They'll appear in that new easy access account in a day or so. You could have sped the process by having an EA account already in place but hey-ho.

A call to their usually very good CS can sometimes speed the process up, if you need the funds urgently.

s71hj

flaneurs_lobster said:

s71hj said:

Remind me what the FD regular saver process is. Mine matured today and has basically disappeared, replaced by a standard savings account and I've been able to successfully apply for a new one, but where do the matured funds re-emerge as accessible to me from the old one? 

They'll appear in that new easy access account in a day or so. You could have sped the process by having an EA account already in place but hey-ho.

A call to their usually very good CS can sometimes speed the process up, if you need the funds urgently.

Many thanks. You live and learn then forget and another year passes and you remember , albeit too late! For some reason I have a whole stack of these maturing around the same time just to further complicate things! 

s71hj

s71hj said:

flaneurs_lobster said:

s71hj said:

Remind me what the FD regular saver process is. Mine matured today and has basically disappeared, replaced by a standard savings account and I've been able to successfully apply for a new one, but where do the matured funds re-emerge as accessible to me from the old one? 

They'll appear in that new easy access account in a day or so. You could have sped the process by having an EA account already in place but hey-ho.

A call to their usually very good CS can sometimes speed the process up, if you need the funds urgently.

Many thanks. You live and learn then forget and another year passes and you remember , albeit too late! For some reason I have a whole stack of these maturing around the same time just to further complicate things! 

Actually, when I double check, the savings account that is there is one from last year that I assume I never closed from last time so maybe the matured funds will land into that shortly?