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

ColdIron

s71hj said:

Kim_13 said:

soulsaver said:

CricketLady said:

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

Salutations. Are you overthinking, perhaps? Why not just w/d the £3k? It''ll get due interest paid on the 11th and you're good to go for another year, by whatever means. No risk of lock out for a year.

Halifax don't allow withdrawals, early closure/renewing only. If you renew the whole balance is immediately available in the Easy Saver or whatever you renew to, whereas requesting closure might well lead to manual intervention being required and slowing down the process. 

So is there like a "renew" button to press or is it renew in the sense that we use the word in this forum and there's a process to follow that leads to renewal. (if this makes sense! ) 

There is a prominent 'Renew' button beside the account on the Halifax Landing page

Kim_13

ColdIron said:

s71hj said:

Kim_13 said:

soulsaver said:

CricketLady said:

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

Salutations. Are you overthinking, perhaps? Why not just w/d the £3k? It''ll get due interest paid on the 11th and you're good to go for another year, by whatever means. No risk of lock out for a year.

Halifax don't allow withdrawals, early closure/renewing only. If you renew the whole balance is immediately available in the Easy Saver or whatever you renew to, whereas requesting closure might well lead to manual intervention being required and slowing down the process. 

So is there like a "renew" button to press or is it renew in the sense that we use the word in this forum and there's a process to follow that leads to renewal. (if this makes sense! ) 

There is a prominent 'Renew' button beside the account on the Halifax Landing page

Only works on the website and not in the app though, when I last did it a few years ago.

allegro120

Speculator said:

francoghezzi said:

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

The only regular saver accounts that I hold that require deposit from nominated accounts are my Manchester and my Newcastle Monument account. (but not my 5.25% Newcastle reg)

I deposit to Newcastle Monument from different account.  Manchester is the only one in my RS collection that requires deposits from nominated account.

Hattie627

Scottish BS Regular Saver

Online account now updated to show payment sent by SO in early hours of Monday 3rd.

GetRichOrDieSaving

Does anyone know how long it takes for a withdrawal from Newcastle RS? Instant, same day or next working day?

thefrank

surreysaver said:

francoghezzi said:

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

Halifax doesn't work like Lloyds. The Lloyds is easy access; the Halifax you have to close to access your money 

Halifax works exactly like Lloyds when it comes to renew the RS. I did it 3 times in the last couple of years. We are talking about renew, not  "taking out the money". Taking out the money and leave the account is totally another matter. The renewal process is the same and must be done with banking on line, not the app, exactly like Lloyds. I did it twice last year and the last time on 31/10/2025. CricketLady was asking about renew or close, not about taking money out (her precise words:  ..."with my Halifax I only have the option to RENEW"). Had she asked about taking out the money I would have replied differently. Hence the advice to renew, take the money and re-open the RS like I did in the past as mentioned

Bridlington1

clairec666 said:

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.

I seem to recall someone mentioned (or possibly started) compiling a list of banks/building societies that accept 13th payments on their regular savers but it was abandoned as there's too many niche cases where it depends on the specific regular saver. 

Savings accounts that allow debit card payments are already covered in another thread I maintain so don't think this needs another thread.

I am considering compiling a list of bank/building society faster payment cut off times though so this is already on my radar, just haven't got round to it yet as tidying up the archived thread took priority recently.

For accounts that can easily be refreshed, I suppose I could incorporate this into my existing listings.

I'll have a think about it, apologies I've only got a few mins left of my dinner break at work so haven't the time to give a full response to your suggestion at the moment.

happybagger

happybagger said:
Re: HRBS a/c due 1st Nov

Probably still worth opening this for membership (new or continuing).

Requested the form be sent to me hoping they'd at least put in an envelope. Changed my mind, miserable lot have irritated me, for 5% variable at a max of 100 p/m on 30 day notice, I've become Mr Meldrew.

soulsaver

I've withdrawn from a Halifax RS not long ago without closing it.

So if it's the case now, it's a fairly recent change. Apologies for the OOD info.

Why am I so certain? They processed one of the w/ds twice making me overdrawn in a savings account!!

Lots of compensation. Indeed, the process failure may have been a contributor to the need for the change?

Kim_13

Scottish BS online activation received today. Only registered on Thursday, was expecting it to take weeks.

Oddly when logged in it states maximum balance £3,300, but I can't work out how it would get there. Assuming they accept a 13th payment and all months were maxed out that would be £3,250 - on which the interest would be more than £50.