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

Gers

clairec666 said:

nomorekids said:

clairec666 said:

WillPS said:

With regards to LBG account closures.

I started employment at a bank back in January (not LBG), and had to undertake AML (anti money laundering) training. The training advised that a common sign of 'layering' is suddenly opening several accounts and/or bouncing money in and out of them "for no apparent reason".

On the good side - it helped me realise my fears that banks were permabanning customers on the grounds of poor profitability were unfounded.

On the bad side - it did cause me to think that if I was a member of staff in a bank, having undergone the same training, would I report my own activity?

Their idea of "no apparent reason" is different from ours!

I realise that my own money movement may appear strange to anyone who doesn't play the regular saver game; luckily I've only once had a transaction held up as "suspicious" (by Coop) and have not been banned by any banks. Yet.

Ditto, so this " layering " is money laundering? I too got closed down by Lloyds and lost halifax and BoS too shorting after, all for a hobby we all share, very harsh IMHO as my letter said its forever 

I feel like our hobby attracts quite a neurodiverse fanbase, and if I'm penalised for my slightly odd banking behaviour then I'm being penalised for being neurodiverse.

I briefly got blocked from logging in to one of my accounts (can't remember which) because of "suspiciously frequent login attempts"... okay, so I like to check my accounts quite frequently so I can keep my spreadsheet up to date

I'm glad that banks are putting anti money laundering measures in place, but it's annoying when we fall foul of it.

I too like a spreadsheet and updating it (them) - now I check accessible accounts every week and inaccessible ones (RS, ISAs etc) monthly though I do have to resist the urge to do it more often!

Hattie627

HSBC Regular Saver

My HSBC 7% fixed RS matures today. Interest (£115.95) has been added to the balance of £3000 and the interest rate is showing at 1,30% (the rate applicable to the account into which the RS is due to change on maturity). However the account is stubbornly showing still as "Regular Saver 1" which means I can't move the money out (yet). Has anyone had recent experience of an HSBC RS maturity and can say when the account will become accessible?
Thanks

flaneurs_lobster

clairec666 said:

nomorekids said:

clairec666 said:

WillPS said:

With regards to LBG account closures.

I started employment at a bank back in January (not LBG), and had to undertake AML (anti money laundering) training. The training advised that a common sign of 'layering' is suddenly opening several accounts and/or bouncing money in and out of them "for no apparent reason".

On the good side - it helped me realise my fears that banks were permabanning customers on the grounds of poor profitability were unfounded.

On the bad side - it did cause me to think that if I was a member of staff in a bank, having undergone the same training, would I report my own activity?

Their idea of "no apparent reason" is different from ours!

I realise that my own money movement may appear strange to anyone who doesn't play the regular saver game; luckily I've only once had a transaction held up as "suspicious" (by Coop) and have not been banned by any banks. Yet.

Ditto, so this " layering " is money laundering? I too got closed down by Lloyds and lost halifax and BoS too shorting after, all for a hobby we all share, very harsh IMHO as my letter said its forever 

I feel like our hobby attracts quite a neurodiverse fanbase, and if I'm penalised for my slightly odd banking behaviour then I'm being penalised for being neurodiverse.

I briefly got blocked from logging in to one of my accounts (can't remember which) because of "suspiciously frequent login attempts"... okay, so I like to check my accounts quite frequently so I can keep my spreadsheet up to date

I'm glad that banks are putting anti money laundering measures in place, but it's annoying when we fall foul of it.

I think the banks etc are flapping here - they have to be seen to be actively engaged in KYC and anti-money laundering activities otherwise their regulators will fine them millions. If they didn't get a decent hit rate of dodgy punters then their methods would be seen as not effective.

Think hitting up "enthusiastic" savers is just seen as "collateral damage". 

jaypers

Hattie627 said:

HSBC Regular Saver

My HSBC 7% fixed RS matures today. Interest (£115.95) has been added to the balance of £3000 and the interest rate is showing at 1,30% (the rate applicable to the account into which the RS is due to change on maturity). However the account is stubbornly showing still as "Regular Saver 1" which means I can't move the money out (yet). Has anyone had recent experience of an HSBC RS maturity and can say when the account will become accessible?
Thanks

You can transfer it to your HSBC current a/c and out from there. Mine mature last week and still says Reg Saver-1

janusd

Hattie627 said:

HSBC Regular Saver

My HSBC 7% fixed RS matures today. Interest (£115.95) has been added to the balance of £3000 and the interest rate is showing at 1,30% (the rate applicable to the account into which the RS is due to change on maturity). However the account is stubbornly showing still as "Regular Saver 1" which means I can't move the money out (yet). Has anyone had recent experience of an HSBC RS maturity and can say when the account will become accessible?

I think it was discussed a few pages back - apparently you can't move/withdraw the balance in the app, you need to do it online... mine matured on Wednesday and I transferred the balance internally (online) to the current account and then withdrew from there on that day... possibly, you could withdraw direct from the matured RS whilst online, I never tried it.

jaypers

janusd said:

Hattie627 said:

HSBC Regular Saver

My HSBC 7% fixed RS matures today. Interest (£115.95) has been added to the balance of £3000 and the interest rate is showing at 1,30% (the rate applicable to the account into which the RS is due to change on maturity). However the account is stubbornly showing still as "Regular Saver 1" which means I can't move the money out (yet). Has anyone had recent experience of an HSBC RS maturity and can say when the account will become accessible?

I think it was discussed a few pages back - apparently you can't move/withdraw the balance in the app, you need to do it online... mine matured on Wednesday and I transferred the balance internally (online) to the current account and then withdrew from there on that day... possibly, you could withdraw direct from the matured RS whilst online, I never tried it.

Works in the app as well. 

Hattie627

jaypers said:

Hattie627 said:

HSBC Regular Saver

My HSBC 7% fixed RS matures today. Interest (£115.95) has been added to the balance of £3000 and the interest rate is showing at 1,30% (the rate applicable to the account into which the RS is due to change on maturity). However the account is stubbornly showing still as "Regular Saver 1" which means I can't move the money out (yet). Has anyone had recent experience of an HSBC RS maturity and can say when the account will become accessible?
Thanks

You can transfer it to your HSBC current a/c and out from there. Mine mature last week and still says Reg Saver-1

Thanks. I managed to transfer balance to my HSBC current account in online banking and out from there, For some reason, the app wouldn't allow the transfer. Balance in RS now zero and still showing as Reg Saver-1.

Speculator

schiff said:

E_zroda said:

flaneurs_lobster said:

schiff said:

PRINCIPALITY
Closure etc all done and dusted - £200 into Issue 4 (with the same account number) as requested - the balance into my EA account to deal with as I wish.
Excellent service as always.

I also - although the balance has yet to hit my (external) nominated account.

Is your nominated account like mine a Nationwide one by any chance?
@schiff: I wonder what makes your 'special'...

No - Santander .........

Was in my Santander at around 10.30 when I checked.

jaypers

Monmouthshire…..apologies for the question but this is a very busy thread and I can’t find the specific answer I’m looking for. Not currently a Monmouthshire customer so looking to open the 6% RS via the app…….fingers crossed on the exclusive one later. I’ve seen loads of posts about postal correspondence…..is that required as to be honest if I need to send postal applications I can’t be bothered?!

In addition, when eligible, can you hold an exclusive RS as well as the normal one?

TIA.

dealyboy

Principality BS RS issue 3 maturity

Just to advise ... my saver was converted to a Maturity Instant Access Savings Account today. I phoned to transfer the £1,228.37 to my Santander 'hub' account at around 09:30. I was advised that there were two Barclays payment runs today, one at 10:00 and one at 15:00. I was in time for the first one as the colleague put the order on the system, I should expect it to be completed by midday, if not it would definitely be by the end of the day ... it is down to the Barclays process and how many transactions they have.

I received the money by Faster Payments at around 11:00, the maturity account has been closed. Superb work and advice by Principality BS.