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

WillPS

s71hj said:

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? 

They will yes. No harm keeping that account empty through the year to receive the matured funds in to each time.

Bridlington1

Chorley BS Interest Rate Cuts 3/9/25:

Account	Old rate	New rate
Chorley BS Regional 2 Year Flexible Saver (all issues)	5.15%	NO CHANGE
Chorley BS Regular Saver (all issues)	5.15%	NO CHANGE

dingling68

Coventry Sunny Day / Loyalty Seasonal Saver maturity

Both of mine are due to mature on 31/8/25. Is it still the case that these will mature into an Easy Access Saver 7 account? I don't recall having seen any notification in the post, but may have overlooked it.

From a check of the available RS accounts with Coventry this could be the end of a long RS history with them as I have others offering higher interest rates I can fill even after the recent round of cuts!

KneadtheDough

dingling68 said:

Coventry Sunny Day / Loyalty Seasonal Saver maturity

Both of mine are due to mature on 31/8/25. Is it still the case that these will mature into an Easy Access Saver 7 account? I don't recall having seen any notification in the post, but may have overlooked it.

From a check of the available RS accounts with Coventry this could be the end of a long RS history with them as I have others offering higher interest rates I can fill even after the recent round of cuts!

Coventry Sunny Day Saver maturity

Yes, I received a letter today saying it will be closed and funds moved into a new Easy Access Saver (7), and they'll send a reminder before the change and a confirmation once everything is complete. 

gt94sss2

dingling68 said:

Loyalty Seasonal Saver maturity

Both of mine are due to mature on 31/8/25. Is it still the case that these will mature into an Easy Access Saver 7 account? 

Are you sure your loyalty seasonal saver matures this month? I seem to recall that if you close it before November, there is a penalty..

apt

gt94sss2 said:

dingling68 said:

Loyalty Seasonal Saver maturity

Both of mine are due to mature on 31/8/25. Is it still the case that these will mature into an Easy Access Saver 7 account? 

Are you sure your loyalty seasonal saver matures this month? I seem to recall that if you close it before November, there is a penalty..

But there's a window of 30 days following a rate reduction when you can close the account (not make a partial withdrawal) without penalty.

subjecttocontract

I closed mine this week without a penalty.

dingling68

gt94sss2 said:

dingling68 said:

Loyalty Seasonal Saver maturity

Both of mine are due to mature on 31/8/25. Is it still the case that these will mature into an Easy Access Saver 7 account? 

Are you sure your loyalty seasonal saver matures this month? I seem to recall that if you close it before November, there is a penalty..

Thank you for mentioning this! I had obvs copied the wrong date over to the Loyalty account when I opened it 😊

flaneurs_lobster

subjecttocontract said:

I closed mine this week without a penalty.

I don't doubt your experience for a moment but the wording of the rate reduction letter reads somewhat ambiguously 

If you decide to close your account because of this rate change, you can do so without notice, charge, or loss of interest within 30 days of the effective date.  

Is that a 30 day window after 1 Sep or a 60 day window, 30 days either side of 1 Sep?

Your closure this week without penalty suggests the latter, although I would have interpreted the wording as meaning the former.

Kim_13

flaneurs_lobster said:

subjecttocontract said:

I closed mine this week without a penalty.

I don't doubt your experience for a moment but the wording of the rate reduction letter reads somewhat ambiguously 

If you decide to close your account because of this rate change, you can do so without notice, charge, or loss of interest within 30 days of the effective date.  

Is that a 30 day window after 1 Sep or a 60 day window, 30 days either side of 1 Sep?

Your closure this week without penalty suggests the latter, although I would have interpreted the wording as meaning the former.

I am just going to wait until 1st September to ask to close mine, then that covers me for either scenario. It will be within 30 days of notification which I thought was in the T and Cs booklet and on the effective date so complying with what was in the email. By waiting until September I should be able to place the funds in an account paying 6% rather than doing it now and only being able to get an unchanging 5% from Melton.