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

clairec666

Bridlington1 said:

Russ66 said:

Bridlington1 said:

One option would be to open now but then refresh if still available in a month or two to push the maturity date on a bit.

This way you can still secure the account and don't risk missing out if it goes NLA sooner than it did last year but retain the option of pushing the maturity date on a couple of months if still available at the time.

Probably being a bit dull here but what do you mean by "Refresh"
Do you mean open one now then close it & open another down the line if still available? TIA

By ``refresh" I mean close an account to reopen the same account. So yes, with Principality accounts (and others) I'll often open one when they're launched, then close and reopen the account at the end of the month if still available.

For future reference I have also included this term in the list of common abbreviations and their meanings on page 1 of this thread.

I wondered about compiling a list of "niche" regular saver stuff, like 13th payments, debit card deposits, which accounts can be easily refreshed etc., allowances that roll over each month (like Skipton for example)...

Would this be of interest to anyone?
The information on page 1 of this thread is fine as it is, so doesn't need to be cluttered with any more information.

masonic

Pompeydave1967 said:

Opened a zopa last month and got the 4.75% a/c and thought I’d grab the RS @ 7.1%. I’m usually a longer fixer with my money 1 , 2 , 5 year but wanted to grab the RS at that rate. Looking on a calculator tonight I think I’ll get £141 interest after 12 months whereas if I had fixed £3600 over 1 year even at 4% I’d get £144 or more if compound a/c .What’s peoples views on these RS’s ? I see many have 20,30,40+ a/c’s and must take a huge amount of time to monitor them - wouldn't it be easier to just put larger amounts in a 1 year fix ? 

For a direct comparison, I currently have about £46k cycling through 25 regular savers spread over the year. This is currently earning me £2,900 interest per year. If I put that same money in a 1 or 2 year fix paying 4.45% I'd only earn £2,000. The extra £900 is worth the hassle to me. It's probably an hour a month I spend dealing with maturing accounts, distributing the money between the others and applying for new ones.

Pompeydave1967

masonic said:

Pompeydave1967 said:

Opened a zopa last month and got the 4.75% a/c and thought I’d grab the RS @ 7.1%. I’m usually a longer fixer with my money 1 , 2 , 5 year but wanted to grab the RS at that rate. Looking on a calculator tonight I think I’ll get £141 interest after 12 months whereas if I had fixed £3600 over 1 year even at 4% I’d get £144 or more if compound a/c .What’s peoples views on these RS’s ? I see many have 20,30,40+ a/c’s and must take a huge amount of time to monitor them - wouldn't it be easier to just put larger amounts in a 1 year fix ? 

For a direct comparison, I currently have about £46k cycling through 25 regular savers spread over the year. This is currently earning me £2,900 interest per year. If I put that same money in a 1 or 2 year fix paying 4.45% I'd only earn £2,000. The extra £900 is worth the hassle to me. It's probably an hour a month I spend dealing with maturing accounts, distributing the money between the others and applying for new ones.

Thanks Masonic , it’s a case of more effort more rewards with the RS’s then. Most of my money is tied up in fixed but after reading everyone’s replies with RS’s I need to change the way I save. 

Hal17

GetRichOrDieSaving said:

Born2Save_3 said:

GetRichOrDieSaving said:

My Gatehouse RS Issue 2 has been credited with interest ahead of maturity tomorrow (04.11.25) and I have instructed a full balance transfer to my nominated account. 

Mines maturing on 5/11/25 and I've just taken a look, to see if there are any maturity options/instructions.  I couldn't see any thing like that, so I'm just wondering how you gave instructions ?  Was it a future dated transfer or did you send a message or something else ?

Sadly nothing to replace the issue 2.  As I recall the issue 2 wasn't available for that long and there hasn't been anything RS shaped since from Gatehouse.  I had a look at new accounts and no RS or actually anything that outstanding.

I was able to arrange a transfer via the app dated for tomorrow. You should be able to do the same tomorrow for your account maturing 05/11/25 I’d imagine. 

Thank you for the update. Mine matured today and when I logged in to transfer the funds you could not actual nominate an account to transfer from. I did as you suggested and downloaded the App. 

That allowed me to complete a transfer and the funds will be in my nominated account tomorrow. 

thefrank

SCOTTISH BUILDING SOCIETY SO
Just had a chat with a nice lady at the Scottish BS regarding the timing to update the online banking with the standing orders from nominated bank accounts or other institutions. It looks that is normally taking 48 hours. So for those still wondering if their money sent last week-end or during Sunday night safely landed the best advice is to check the on line portal at some point today and remember this quite slow process for the months to come (and brace yourselves when it comes to the deposit on the first of January )

CricketLady

Good morning all,

I need to withdraw £3000 from my Halifax regular saver which is due to mature on the 11th (Tuesday) as I have a big bill to pay today.  I managed to withdraw £3000 from my Bank of Scotland (well, £2999, I left £1 in for the interest to have something to "stick to" when it gets added on at maturity, also on Tuesday) but with my Halifax I only have the option to RENEW.  

If I renew does that mean I'll be able to get my cash out and start again with another £250 or will that £3000 stay in the account until 11th November 2026?  

I definitely need this cash and can't wait till Tuesday so is there a better way to access the £3k?

Sorry for silly question but CricketLady has definitely reached a certain age!

And sending you all lots of love xx

thefrank

CricketLady said:

Good morning all,

I need to withdraw £3000 from my Halifax regular saver which is due to mature on the 11th (Monday) as I have a big bill to pay today.  I managed to withdraw £3000 from my Bank of Scotland (well, £2999, I left £1 in for the interest to have something to "stick to" when it gets added on at maturity, also on Monday) but with my Halifax I only have the option to RENEW.  

If I renew does that mean I'll be able to get my cash out and start again with another £250 or will that £3000 stay in the account until 11th November 2026?  

I definitely need this cash and can't wait till Monday so is there a better way to access the £3k?

Sorry for silly question but CricketLady has definitely reached a certain age!

And sending you all lots of love xx

It works exactly like Lloyds. Do not close it, just renew it choosing between the savings accounts with low interests rates, then take your money and interests accrued to today, close immediately the new account with a lower interest and re-open the regular saver 5.5% that will re-appear between your options clicking on the apply button. I have done it on 31/10 so as to be able to deposit twice in 24 hours starting again the RS

Kim_13

francoghezzi said:

SCOTTISH BUILDING SOCIETY SO
Just had a chat with a nice lady at the Scottish BS regarding the timing to update the online banking with the standing orders from nominated bank accounts. It looks that is normally taking 48 hours. So for those still wondering if their money sent last week-end or during Sunday night safely landed the best advice is to check the on line portal at some point today and remember this quite slow process for the months to come (and brace yourselves when it comes to the deposit on the first of January :-) )

You mentioned nominated accounts, but I wasn’t aware that funds had to come from the nominated account? I nominated the account the cheque came from as I thought that would be easier but would rather pay in from another account going forward if possible.

Speculator

Kim_13 said:

francoghezzi said:

SCOTTISH BUILDING SOCIETY SO
Just had a chat with a nice lady at the Scottish BS regarding the timing to update the online banking with the standing orders from nominated bank accounts. It looks that is normally taking 48 hours. So for those still wondering if their money sent last week-end or during Sunday night safely landed the best advice is to check the on line portal at some point today and remember this quite slow process for the months to come (and brace yourselves when it comes to the deposit on the first of January :-) )

You mentioned nominated accounts, but I wasn’t aware that funds had to come from the nominated account? I nominated the account the cheque came from as I thought that would be easier but would rather pay in from another account going forward if possible.

can't see anything in the T&Cs to say it must come from your nominated account.

thefrank

Kim_13 said:

francoghezzi said:

SCOTTISH BUILDING SOCIETY SO
Just had a chat with a nice lady at the Scottish BS regarding the timing to update the online banking with the standing orders from nominated bank accounts. It looks that is normally taking 48 hours. So for those still wondering if their money sent last week-end or during Sunday night safely landed the best advice is to check the on line portal at some point today and remember this quite slow process for the months to come (and brace yourselves when it comes to the deposit on the first of January :-) )

You mentioned nominated accounts, but I wasn’t aware that funds had to come from the nominated account? I nominated the account the cheque came from as I thought that would be easier but would rather pay in from another account going forward if possible.

I prefer to pay from the nominated account in order to avoid any problems and because, frankly, I don't remember which BS accept payments even from other sources. So I prefer the easy way, but it is just personal. I edited my post to make sure that this is clearer . Wherever your money comes from the on line banking should be updated at some point today