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

Kim_13

Aidanmc said:

Bridlington1 said:

With regards to Melton BS's new systems, just a few findings from me:

There's no minimum faster payment amount, so for those of you with regular savers that only have a bit of interest left, e.g. RS5 that may've been opened speculatively, you can now rescue the interest if you wanted.

Also just a heads up it seems setting up a nominated account is slightly odd, you can't just enter the sort code and account number, you have to enter your name, the account number, then click search and type your sort code in there so that if finds the bank and branch associated with it. If you have a nominated account set up it will then tell you setting up a nominated account failed due to your already having one set up.

Closed accounts also show in online banking, from what I can see there's no way to hide them so for those who have a RS4 maturing next month, you'll likely still be able to see the account in online banking long into the future unless they alter something in the meantime.

Can the RS5 be left with zero balance?

Minimum was £10 when opening I believe, so I’d expect it to be that.

Bridlington1

Kim_13 said:

Aidanmc said:

Bridlington1 said:

With regards to Melton BS's new systems, just a few findings from me:

There's no minimum faster payment amount, so for those of you with regular savers that only have a bit of interest left, e.g. RS5 that may've been opened speculatively, you can now rescue the interest if you wanted.

Also just a heads up it seems setting up a nominated account is slightly odd, you can't just enter the sort code and account number, you have to enter your name, the account number, then click search and type your sort code in there so that if finds the bank and branch associated with it. If you have a nominated account set up it will then tell you setting up a nominated account failed due to your already having one set up.

Closed accounts also show in online banking, from what I can see there's no way to hide them so for those who have a RS4 maturing next month, you'll likely still be able to see the account in online banking long into the future unless they alter something in the meantime.

Can the RS5 be left with zero balance?

Minimum was £10 when opening I believe, so I’d expect it to be that.

There's no minimum balance so I'd say there's nothing in the terms preventing you reducing the balance to nil.

FWIW my RS5 currently has 40p in it, previously I've withdrawn down to 1p without issues.

Bridlington1

YBS 50 Pound Regular Savers at 6% have disappeared from moneyfacts suggesting they shall go NLA within hours.

Accounts remail available for now.

ChewyyBacca

My Zopa Reg Saver at 7.5% was to mature today. 
The Pot name is still Regular Saver, though it shows the balance at 4.5%, last interest credited on 5 Oct. I was expecting some residual interest to be credited on 9Oct (today) as the RS pot matures today.

Do I have to empty this RS Pot or close it, in order to open a new Regular Saver at 7.1%? or do I wait till tomorrow since its just been 30 mins past midnight for the changes to happen in the app?

BestSeagull

BestSeagull said:

qsk said:

Scottish building society. Has anyone who used the freepost address (not envelop) to post your RS application heard anything back? I posted last Friday - haven't heard a thing yet.

I did use the envelope but posted at the same time as you did and have heard nothing yet so hopefully we're in the same pile together.

My cheque has cleared, dated today. 

clairec666

ChewyyBacca said:

My Zopa Reg Saver at 7.5% was to mature today. 
The Pot name is still Regular Saver, though it shows the balance at 4.5%, last interest credited on 5 Oct. I was expecting some residual interest to be credited on 9Oct (today) as the RS pot matures today.

Do I have to empty this RS Pot or close it, in order to open a new Regular Saver at 7.1%? or do I wait till tomorrow since its just been 30 mins past midnight for the changes to happen in the app?

Re Zopa - can't answer your question as mine hasn't matured yet, but have you tried opening a new regular saver pot in the app? In the smart savings hub, go to "Open a pot", and if the regular saver isn't offered as an option, then I guess it's being prevented because you already have one open. Maybe wait a day, as the maturity process might still be ongoing.

You say it shows "balance at 4.5%" - did you mean interest? If so, that's higher than their "access pot" at 3.25%, could be very useful as an easy access account, provided of course that you can keep it open and open another regular saver at 7.1%.

Not much detail on Zopa's website about the maturity process.

Bridlington1

ChewyyBacca said:

My Zopa Reg Saver at 7.5% was to mature today. 
The Pot name is still Regular Saver, though it shows the balance at 4.5%, last interest credited on 5 Oct. I was expecting some residual interest to be credited on 9Oct (today) as the RS pot matures today.

Do I have to empty this RS Pot or close it, in order to open a new Regular Saver at 7.1%? or do I wait till tomorrow since its just been 30 mins past midnight for the changes to happen in the app?

I opened mine on 2nd October 2024, when I checked the app about 5am on 2/10/25 the account had matured and I was able to open a new RS pot at 7.1%.

I never bothered to close the old pot, it just sits there with a nil balance.

Hattie627

I have a Principality Christmas 2025 RS maturing on 24th October. I'm hoping to do a rollover to the 6 month RS (issue 4). I can't remember when the online maturity options menu normally appears, possibly 14 days before maturity (which would be tomorrow). Can anyone remember if it's 14 days or 7 days?

10_66

Hattie627 said:

I have a Principality Christmas 2025 RS maturing on 24th October. I'm hoping to do a rollover to the 6 month RS (issue 4). I can't remember when the online maturity options menu normally appears, possibly 14 days before maturity (which would be tomorrow). Can anyone remember if it's 14 days or 7 days?

It’s 14 days.

Hattie627

Melton BS: new online system

I came late to this yesterday but took the time to read through the posts on here about creating a new login before starting. Thanks to all the information supplied by other posters, I managed to navigate through the process without a hitch. Thanks to everyone who provided guidance