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

where_are_we

Principality Xmas26 RS - If only all RS`s were as easy to open as Principality! Plus good fixed rates. I like the fact that you don`t have to peruse 4 or 5 different pages relating to the account specifically, savings in general, FSCS and other T&C`s like you have to do with other new account openings - you just tick one box and that`s it. Obviously I have studied what`s important beforehand and I am ashamed to say that I am a serial Regular Saver so know more or less what to look out for thanks to posters on this forum especially Bridlington.

kermchem

nigelholl2 said:

kermchem 

The terms and conditions of Principality 6 month bond issue 4 say that you can only hold one account of this issue, so, no this is not the correct route to gain a 6 month account. There is no “correct” way to get an extra 6 month account, because an extra account is not correct. 

But several forumites have reported that they have submitted maturity requests for Christmas 2025 savers to mature into 6 month issue 4 accounts. 6 month issue 3 accounts have matured into extra 6 month accounts, and the 12 month saver bonds have also. 

Sometimes it does not work and the reasons may be where the remaining cash is being sent to a Principality easy access account, which might require human intervention in Cardiff and the breach of t&c being noticed. 

Apologises, I didn't make my query clear
I under stand what the T&C's state, but from what has been posted this is not enforced, as of yet
However, where people have been successful, have they
1. Rolled over a maturing account into a new RS, then open the new RS same Issue
2. Opened a new RS Issue and then sent maturity instruction to rollover to new issue RS
I do have green t-shirt if that helps
Again all your thought's would be appreciated

I am sure someone will be along to correct me, but I think that if you hold any PBS account and then try to open another one of the same issue then I would expect the breach of T&C to be spotted by their computer system. So your number 1 doesn’t work. 

Their systems do not spot number 2 in some cases. 

Edited to confirm that there are mixed reports of whether green clothing is essential to achieve 2.

masonic

I think claire's option 3 is the best one if you have not yet submitted maturity instructions, namely let the maturity request be accepted, then open manually before it is actioned.

chris_the_bee

refluxer said:

Rudyson said:

refluxer said:

Just tried to open the Hanley Eco BS 1 Year Online Smart Saver and it looks like they might have disabled online applications for now - I get the same message either while applying through online banking (as an existing customer) or from their homepage (as a new customer would).

The application is currently unavailable.

We are currently experiencing some problems and are unable to continue with your application. Please try again later.

I've just opened one in the last half hour with no problem. 

I'm still unable to open the account. I closed my only Hanley Eco BS account (a Branch Saver) a couple of months ago but still have access to online banking, so was hoping I could apply from there and avoid having to prove my ID again.

I guess it's possible that they'll allow you to access online banking for a while in order to obtain documents or statements for old accounts, but not allow you to open new accounts ?

If anyone is in a similar position (can access online banking but has no open/active accounts) and has been able to open this RS account then please let me know, otherwise I'll give it a miss. 

Yes, opened successfully. When applying, select "Not a member" and continue the application. When it summarises your application for you, it will say that you are a member and the account will be opened. Utilising your old password etc, it will appear in your online banking.

friolento

allegro120 said:

surreysaver said:

That's why I always keep a relationship open with a token £1

HEBS
I would've done, but there was nothing of the kind available at the time I closed my RS.  I didn't want a costly relationship.

They now have a limited access saver, paying a measly 3.5%, needing at least £100. Worth having nonetheless IMO as it saves a lot of hassle when applying for other accounts, even if it might cost a quid or two per year.

Kim_13

friolento said:

allegro120 said:

surreysaver said:

That's why I always keep a relationship open with a token £1

HEBS
I would've done, but there was nothing of the kind available at the time I closed my RS.  I didn't want a costly relationship.

They now have a limited access saver, paying a measly 3.5%, needing at least £100. Worth having nonetheless IMO as it saves a lot of hassle when applying for other accounts, even if it might cost a quid or two per year.

Their usual minimum is £1,000, so the above is an improvement. Hopefully whatever the new RS eventually matures into can be kept with less, given that only £25 was required to open it.

chris_the_bee

allegro120 said:

surreysaver said:

That's why I always keep a relationship open with a token £1

HEBS
I would've done, but there was nothing of the kind available at the time I closed my RS.  I didn't want a costly relationship.

When most RS accounts mature, they automatically move to an easy access account unless you close early or give maturity instructions. Most easy access accounts have a minimum balance of £1.00, so let it mature into an Easy Access and withdraw all except for £1.
This new account gives you continuous membership for a quid.

friolento

chris_the_bee said:

allegro120 said:

surreysaver said:

That's why I always keep a relationship open with a token £1

HEBS
I would've done, but there was nothing of the kind available at the time I closed my RS.  I didn't want a costly relationship.

When most RS accounts mature, they automatically move to an easy access account unless you close early or give maturity instructions. Most easy access accounts have a minimum balance of £1.00, so let it mature into an Easy Access and withdraw all except for £1.
This new account gives you continuous membership for a quid.

HEBS minimum balance for adult accounts is £100

chris_the_bee

clairec666 said:

nigelholl2 said:

kermchem said:

You can mature last year’s Christmas saver into a new issue 4 6 month bond, send the residue to an external account, and open a new Christmas saver

Sorry if this seems pedantic, but that is how I am, and the question needs asking
Is this the correct route to gain an extra 6 month acc?
I have Iss3 & 4 , and was wondering whether you needed to open a new issue, and then roll over, or roll over and then open a new issue
Or is this just pertinent to the Christmas Saver
All your thoughts would be appreciated, as this sort of query is not covered in FAQ's

Just to add another option into the mix, you could submit your maturity instructions, then in the two weeks before it matures open a new issue. That way, your maturity options shouldn't be refused (as you don't already have one of that issue), and your new application shouldn't be refused either.

Except that OP already has at least one Issue 4, so I don't think this option works..

chris_the_bee

friolento said:

chris_the_bee said:

allegro120 said:

surreysaver said:

That's why I always keep a relationship open with a token £1

HEBS
I would've done, but there was nothing of the kind available at the time I closed my RS.  I didn't want a costly relationship.

When most RS accounts mature, they automatically move to an easy access account unless you close early or give maturity instructions. Most easy access accounts have a minimum balance of £1.00, so let it mature into an Easy Access and withdraw all except for £1.
This new account gives you continuous membership for a quid.

HEBS minimum balance for adult accounts is £100

OK.with HEBS it may cost about £5.00 a year (depending on your EA interest rate), but a lot of other societies are £1.