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

allegro120

friolento said:

Section62 said:

friolento said:

Section62 said:

friolento said:

francoghezzi said:

happybagger said:

I wonder how many grumbles we will see if Scottish BS decide there are enough applications for the account and the funding is anticipated sufficient for them to decide to make it NLA and not actually offer an online version?

Just open it by post, folks.

If made NLA be prepared for hundreds of pages filled with grumbles by people who wouldn't spend for a 2nd class stamp to apply by post missing out on an entire month at 6.5% that is variable and could be lowered any day. Popcorn ready

 No second class stamp is needed. Just use the Freepost address which can easily be googled and was posted a few times in this thread.

A deal breaker for some might be the logistics and the cost of getting the application form, the use of a 🖊️, the cost of the envelope, and the need to walk to the nearest post box…………………

...also the non-zero risk of possibly needing to make a branch visit in person.  A long way to travel for some people.

Application by post is completely legit, as is online, postal and phone management. There is therefore zero risk of having to make a branch visit for any reason.

You could guarantee that, on behalf of Scottish building society?

Personally I always work on the basis a branch-based account might require a visit at some point in time - not necessarily likely, but might be one of those things like wanting to see you in person with photo ID in order to regain access to an account/funds in an account.

It wouldn't stop me opening a branch account, but if there's an either/or situation (as there may be in this case) I'd generally opt for an online account rather than a branch one, to help cover off the non-zero risk of having to make a branch visit.  No point complaining you've been asked to make a branch visit for a branch-based account.

In this case I have applied by post, taking the view a bird in the hand etc.  But I could understand some people being reluctant to open accounts with a local building society which is based a long way from home.... as one aspect of the 'logistics' you mentioned.

I have held hundreds of accounts over the years, including one SBS one a few years ago, and was never asked to go to any Branch, not even when we still had dozens of them in most towns and cities. 

ID verification has also changed tremendously over the years. Even if a person is involved in serious crime and has all sorts of CIFAS markers against them, there is next to zero risk that anyone has to ever appear in person to make withdrawals from their savings accounts. 

I also don't recall seeing any posts on MSE from people who had to show up in a branch to withdraw from their Regular Saver accounts but it it possible that I have overlooked them - in which case it would be great if you could post some links?

I hope RS newbies and other less experienced forumites won't feel discouraged by unlikely scare stories from applying for accounts. 

I recently had to visit Nottingham BS branch to close my account and receive the cheque, there is no other way to do it.  I was surprised how quick you can cash a cheque these days.  I crossed the road, put it in HSBC pay in machine and the cheque was cleared next morning (only 1 day lose of interest).

where_are_we

Aldemore RS maturing tomorrow. I believe the least costly way of keeping a "presence" and best interest rate is to open a new RS 3 @4.5% variable easy access with the minimum opening deposit of £25 and not funding anymore. All their other accounts require at least £100 minimum opening deposit.
I am wondering if it is time to "through in the towel" with Aldemore. So many other fish in the sea!

Section62

friolento said:

ID verification has also changed tremendously over the years. Even if a person is involved in serious crime and has all sorts of CIFAS markers against them, there is next to zero risk that anyone has to ever appear in person to make withdrawals from their savings accounts.

"next to zero" / "non-zero" - seems we are now saying the same thing in fractionally different words.

friolento said:

I also don't recall seeing any posts on MSE from people who had to show up in a branch to withdraw from their Regular Saver accounts but it it possible that I have overlooked them - in which case it would be great if you could post some links?

This thread, which you contributed to, is an example.  Not a 'regular saver', but that doesn't seem relevant as there is nothing about regular saver accounts which exempts holders from complying with the bank/building society's ID/KYC requirements.

https://forums.moneysavingexpert.com/discussion/6502070/metro-bank-needing-in-person-id-verification

Despite the 'unreasonable'ness of asking a customer to travel 300 miles to prove ID, the poster was only able to resolve the issue by going to a branch.

friolento said:

I hope RS newbies and other less experienced forumites won't feel discouraged by unlikely scare stories from applying for accounts.

Pointing out there is a 'non-zero' risk of being asked to go to a branch, and that could be a reason why someone might decide not to open a particular account is not a "scare story".

But I'm happy to clarify that I'm not saying there is a significant risk of being asked to do so.  Just that if an online version of an account is due to be released in the near future that might be a rational reason for opting not to open a branch/postal version.

35har1old

Section62 said:

friolento said:

ID verification has also changed tremendously over the years. Even if a person is involved in serious crime and has all sorts of CIFAS markers against them, there is next to zero risk that anyone has to ever appear in person to make withdrawals from their savings accounts.

"next to zero" / "non-zero" - seems we are now saying the same thing in fractionally different words.

friolento said:

I also don't recall seeing any posts on MSE from people who had to show up in a branch to withdraw from their Regular Saver accounts but it it possible that I have overlooked them - in which case it would be great if you could post some links?

This thread, which you contributed to, is an example.  Not a 'regular saver', but that doesn't seem relevant as there is nothing about regular saver accounts which exempts holders from complying with the bank/building society's ID/KYC requirements.

https://forums.moneysavingexpert.com/discussion/6502070/metro-bank-needing-in-person-id-verification

Despite the 'unreasonable'ness of asking a customer to travel 300 miles to prove ID, the poster was only able to resolve the issue by going to a branch.

friolento said:

I hope RS newbies and other less experienced forumites won't feel discouraged by unlikely scare stories from applying for accounts.

Pointing out there is a 'non-zero' risk of being asked to go to a branch, and that could be a reason why someone might decide not to open a particular account is not a "scare story".

But I'm happy to clarify that I'm not saying there is a significant risk of being asked to do so.  Just that if an online version of an account is due to be released in the near future that might be a rational reason for opting not to open a branch/postal version.

I doubt if you opened a Online account it would protect you if the account was suspended for any reason and the only way you could resolve it was by a branch visit

Bridlington1

35har1old said:

Bridlington1 said:

Recent Additions:

Hanley Economic BS 1 Year Branch Smart Saver (TAR09) at 6.5% ~~~~~ Launched 20/9/25
Darlington BS 12 Month Regular Saver Issue 3 at 4.75% ~~~ Launched 17/10/25
Newcastle BS Monument Regular Saver at 5.5%~~~ Launched 16/10/25

Progressive BS Online Regular Rainy Day Saver Account (Issue 4) at 7% ~~~ Launched 6/10/25
Scottish BS Regular Saver at 6.5%~~~ Launched 1/10/25
Virgin Money Regular Saver Exclusive Issue 4 at 6.5%~~~ Launched 1/10/25
Chorley BS Regular Saver (30.09.2026) at 5.15%~~~ Launched 1/10/25
Chorley BS Regional 2 Year Flexible Saver (30.09.2027) at 5.15%~~~ Launched 1/10/25
Nottingham BS Branch Regular Saver Issue 5 at 4.75%~~~ Launched 1/10/25
Nottingham BS Online Regular Saver Issue 2 at 4.75%~~~ Launched 1/10/25
Leeds BS Regular Saver (Issue 69) at 4.7%~~~ Launched 1/10/25


Please see listings further down this page for full details. Please note the list above is partially emptied twice monthly on 15th and the final day of each month.

Has the monument account gone NLA

The online application page appears to've been pulled.

For now the account seems to be still available, details on the link below but has reverted to only being able to be opened in branch or via the QR code exclusively at their Monument branch:
https://newcastle.co.uk/savings/monument-regular-saver-branch

I'll update the first page with the new link and updated opening criteria.

allegro120

where_are_we said:

Aldemore RS maturing tomorrow. I believe the least costly way of keeping a "presence" and best interest rate is to open a new RS 3 @4.5% variable easy access with the minimum opening deposit of £25 and not funding anymore. All their other accounts require at least £100 minimum opening deposit.
I am wondering if it is time to "through in the towel" with Aldemore. So many other fish in the sea!

I dumped Aldermore when RS rate turned uncompetitive.  I couldn't find any account suitable for this purpose and if they ever offer anything attractive it will be easy to open as new customer.  I don't think Aldermore is the one for keeping your foot in.

friolento

allegro120 said:

friolento said:

Section62 said:

friolento said:

Section62 said:

friolento said:

francoghezzi said:

happybagger said:

I wonder how many grumbles we will see if Scottish BS decide there are enough applications for the account and the funding is anticipated sufficient for them to decide to make it NLA and not actually offer an online version?

Just open it by post, folks.

If made NLA be prepared for hundreds of pages filled with grumbles by people who wouldn't spend for a 2nd class stamp to apply by post missing out on an entire month at 6.5% that is variable and could be lowered any day. Popcorn ready

 No second class stamp is needed. Just use the Freepost address which can easily be googled and was posted a few times in this thread.

A deal breaker for some might be the logistics and the cost of getting the application form, the use of a 🖊️, the cost of the envelope, and the need to walk to the nearest post box…………………

...also the non-zero risk of possibly needing to make a branch visit in person.  A long way to travel for some people.

Application by post is completely legit, as is online, postal and phone management. There is therefore zero risk of having to make a branch visit for any reason.

You could guarantee that, on behalf of Scottish building society?

Personally I always work on the basis a branch-based account might require a visit at some point in time - not necessarily likely, but might be one of those things like wanting to see you in person with photo ID in order to regain access to an account/funds in an account.

It wouldn't stop me opening a branch account, but if there's an either/or situation (as there may be in this case) I'd generally opt for an online account rather than a branch one, to help cover off the non-zero risk of having to make a branch visit.  No point complaining you've been asked to make a branch visit for a branch-based account.

In this case I have applied by post, taking the view a bird in the hand etc.  But I could understand some people being reluctant to open accounts with a local building society which is based a long way from home.... as one aspect of the 'logistics' you mentioned.

I have held hundreds of accounts over the years, including one SBS one a few years ago, and was never asked to go to any Branch, not even when we still had dozens of them in most towns and cities. 

ID verification has also changed tremendously over the years. Even if a person is involved in serious crime and has all sorts of CIFAS markers against them, there is next to zero risk that anyone has to ever appear in person to make withdrawals from their savings accounts. 

I also don't recall seeing any posts on MSE from people who had to show up in a branch to withdraw from their Regular Saver accounts but it it possible that I have overlooked them - in which case it would be great if you could post some links?

I hope RS newbies and other less experienced forumites won't feel discouraged by unlikely scare stories from applying for accounts. 

I recently had to visit Nottingham BS branch to close my account and receive the cheque, there is no other way to do it.  I was surprised how quick you can cash a cheque these days.  I crossed the road, put it in HSBC pay in machine and the cheque was cleared next morning (only 1 day lose of interest).

They sent me a cheque when I asked to close an account with them. I am sure they would have sent you one by post, too

I do know of a couple current accounts that apparently require you to turn up in branch if you wish to close them. At least they did a year or so ago. I just let them sit dormant with a £0 balance. It's more likely, though increasingly rare, to find accounts that can only be opened in Branch. I usually avoid these, and don't miss them.

surreysaver

allegro120 said:

friolento said:

Section62 said:

friolento said:

Section62 said:

friolento said:

francoghezzi said:

happybagger said:

I wonder how many grumbles we will see if Scottish BS decide there are enough applications for the account and the funding is anticipated sufficient for them to decide to make it NLA and not actually offer an online version?

Just open it by post, folks.

If made NLA be prepared for hundreds of pages filled with grumbles by people who wouldn't spend for a 2nd class stamp to apply by post missing out on an entire month at 6.5% that is variable and could be lowered any day. Popcorn ready

 No second class stamp is needed. Just use the Freepost address which can easily be googled and was posted a few times in this thread.

A deal breaker for some might be the logistics and the cost of getting the application form, the use of a 🖊️, the cost of the envelope, and the need to walk to the nearest post box…………………

...also the non-zero risk of possibly needing to make a branch visit in person.  A long way to travel for some people.

Application by post is completely legit, as is online, postal and phone management. There is therefore zero risk of having to make a branch visit for any reason.

You could guarantee that, on behalf of Scottish building society?

Personally I always work on the basis a branch-based account might require a visit at some point in time - not necessarily likely, but might be one of those things like wanting to see you in person with photo ID in order to regain access to an account/funds in an account.

It wouldn't stop me opening a branch account, but if there's an either/or situation (as there may be in this case) I'd generally opt for an online account rather than a branch one, to help cover off the non-zero risk of having to make a branch visit.  No point complaining you've been asked to make a branch visit for a branch-based account.

In this case I have applied by post, taking the view a bird in the hand etc.  But I could understand some people being reluctant to open accounts with a local building society which is based a long way from home.... as one aspect of the 'logistics' you mentioned.

I have held hundreds of accounts over the years, including one SBS one a few years ago, and was never asked to go to any Branch, not even when we still had dozens of them in most towns and cities. 

ID verification has also changed tremendously over the years. Even if a person is involved in serious crime and has all sorts of CIFAS markers against them, there is next to zero risk that anyone has to ever appear in person to make withdrawals from their savings accounts. 

I also don't recall seeing any posts on MSE from people who had to show up in a branch to withdraw from their Regular Saver accounts but it it possible that I have overlooked them - in which case it would be great if you could post some links?

I hope RS newbies and other less experienced forumites won't feel discouraged by unlikely scare stories from applying for accounts. 

I recently had to visit Nottingham BS branch to close my account and receive the cheque, there is no other way to do it.  I was surprised how quick you can cash a cheque these days.  I crossed the road, put it in HSBC pay in machine and the cheque was cleared next morning (only 1 day lose of interest).

I was surprised when I had to pay in a Nottinghamshire cheque a couple of months ago too at how quick it is these days!

Born2Save_3

Newcastle BS Monument RS

For me Newcastle BS have been diligent in spotting  a second application, responding with a pleasant enough email.  So just one for now.

However, I wonder if there is the possibility to have a second profile with a Monument RS in that.  Maybe by applying with some different details to my existing profile, email, maybe mobile, security details etc to existing.

friolento

Born2Save_3 said:

Newcastle BS Monument RS

For me Newcastle BS have been diligent in spotting  a second application, responding with a pleasant enough email.  So just one for now.

However, I wonder if there is the possibility to have a second profile with a Monument RS in that.  Maybe by applying with some different details to my existing profile, email, maybe mobile, security details etc to existing.

I reckon it's pot luck whether you end up with an additional profile but if you do, it might be valuable because you might be able to double up on accounts. So long as you are not confusing yourself by having your accounts spread over multiple profiles. Be prepared they will spot it eventually.

You may have seen an earlier post this afternoon, advising that the Monument account is now only available in Branch / with QR code. No more online application.