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

Kim_13

mhoc said:

Skipton members saver

Please can I ask - I have a Skipton Regular saver issue 1 opened in July 2025 paying 5.5% - from the above discussion it seems I have to close this one - how do I go about doing this?
And there is no penalty for early closure?

And then I can open the members saver 6% the same day or do I wait until the next day? 

Yes I know its only 0.5% more but this actually suits my purpose as the new Skipton members saver will mature in November 2026.
I have nothing maturing that month to feed the next months December 2026 regular saver standing orders. 
Its on my list to refresh the Halifax and possibly also one of the LLoyds bank reg savers later in November with the same purpose. 

I also have Skipton members bonus issue 2 paying a miserable 4.75% opened in June 2025 but that can sit there until I need it. 

Skipton Member Bonus Saver is not a Regular Saver but an Easy Access with a maximum balance of £5,000, so this compares favourably with other similar accounts. I use it as a holding account between one Regular Saver maturing and the funds being able to be deposited in other Regular Saver, so it serves a purpose, 

The Member Bonus Saver can be held alongside the Skipton Member Regular Saver, yes. It is two Regular Savers that aren’t possible now, regardless of the order they are opened in.

Bridlington1

elkyfer said:

No penalties for closing the Skipton RS, but it looks like, they do not pay the interest of the last month's.

Skipton pays interest until the point the account is closed.

I suspect you're thinking of NatWest and RBS, which do not pay interest for the month of closure.

ChewyyBacca

Bridlington1 said:

elkyfer said:

No penalties for closing the Skipton RS, but it looks like, they do not pay the interest of the last month's.

Skipton pays interest until the point the account is closed.

I suspect you're thinking of NatWest and RBS, which do not pay interest for the month of closure.

This is news for me. If I were to close Natwest Digital RS say on 23 Nov, they wont pay interest on 5K for the 22 days of Nov?

Kim_13

ChewyyBacca said:

Bridlington1 said:

elkyfer said:

No penalties for closing the Skipton RS, but it looks like, they do not pay the interest of the last month's.

Skipton pays interest until the point the account is closed.

I suspect you're thinking of NatWest and RBS, which do not pay interest for the month of closure.

This is news for me. If I were to close Natwest Digital RS say on 23 Nov, they wont pay interest on 5K for the 22 days of Nov?

No, so the best thing to do would be to withdraw it down to £1 in November, then close it in December. But for the sake of £1 I'd leave it open in case it should become table topping again.

flaneurs_lobster

ChewyyBacca said:

Bridlington1 said:

elkyfer said:

No penalties for closing the Skipton RS, but it looks like, they do not pay the interest of the last month's.

Skipton pays interest until the point the account is closed.

I suspect you're thinking of NatWest and RBS, which do not pay interest for the month of closure.

This is news for me. If I were to close Natwest Digital RS say on 23 Nov, they wont pay interest on 5K for the 22 days of Nov?

That's what it says in the Summary Box

If you close your account, you will not earn interest for the month of closure.

Mind you, it also says that you have to have a SO set up to feed it.........

Malchester

I opened and funded the Skipton regular saver at the weekend as I didn't qualify for the members regular saver. Saw this morning that the membership requirements had changed. It wouldn't let me open an account so closed the regular saver with 3p interest and immediately opened and funded a member regular saver with no problem 

figgyc

mhoc said:

Skipton members saver

Please can I ask - I have a Skipton Regular saver issue 1 opened in July 2025 paying 5.5% - from the above discussion it seems I have to close this one - how do I go about doing this?
And there is no penalty for early closure?

And then I can open the members saver 6% the same day or do I wait until the next day? 

In the same situation, just did it in a couple minutes and was paid interest. I had no other accounts with Skipton so I opened an Easy Access Saver first to keep continuous membership / have somewhere to put the money. 

Do this before 8pm as that is apparently the daily cutoff for internal transfers.

1. Log into Skipton Online
2. (If needed) click Open new accounts on the side, choose an easy acess account and follow the process
3. When you get back to the main screen click Withdraw on your RS
4. Withdraw all and close, transfer to an EA skipton account 
5. Go back to "Open new accounts" and Member Regular Saver will be there, open it
6. Pay in on the new RS -> internal -> click the other saver and add the 250
7. Can withdraw the rest of the money as you want. Edit: that isnt working for me yet? Maybe a tech issue cause its a new account

elkyfer

I closed & open, 8 pounds interest, money transfer fast, nice.

Kim_13

figgyc said:

mhoc said:

Skipton members saver

Please can I ask - I have a Skipton Regular saver issue 1 opened in July 2025 paying 5.5% - from the above discussion it seems I have to close this one - how do I go about doing this?
And there is no penalty for early closure?

And then I can open the members saver 6% the same day or do I wait until the next day? 

In the same situation, just did it in a couple minutes and was paid interest. I had no other accounts with Skipton so I opened an Easy Access Saver first to keep continuous membership / have somewhere to put the money. 

Do this before 8pm as that is apparently the daily cutoff for internal transfers.

1. Log into Skipton Online
2. (If needed) click Open new accounts on the side, choose an easy acess account and follow the process
3. When you get back to the main screen click Withdraw on your RS
4. Withdraw all and close, transfer to an EA skipton account 
5. Go back to "Open new accounts" and Member Regular Saver will be there, open it
6. Pay in on the new RS -> internal -> click the other saver and add the 250
7. Can withdraw the rest of the money as you want. Edit: that isnt working for me yet? Maybe a tech issue cause its a new account

You have to set up a nominated account on the Skipton website to withdraw externally. It’s per account, one account isn’t automatically ready to use with every Skipton account you hold.

Enzo_L

flaneurs_lobster said:

ChewyyBacca said:

Bridlington1 said:

elkyfer said:

No penalties for closing the Skipton RS, but it looks like, they do not pay the interest of the last month's.

Skipton pays interest until the point the account is closed.

I suspect you're thinking of NatWest and RBS, which do not pay interest for the month of closure.

This is news for me. If I were to close Natwest Digital RS say on 23 Nov, they wont pay interest on 5K for the 22 days of Nov?

That's what it says in the Summary Box

If you close your account, you will not earn interest for the month of closure.

Mind you, it also says that you have to have a SO set up to feed it.........

I fell foul of this when I closed my RBS Digital RS, as I hadn't realised that I wouldn't get interest for the month in which I closed it.
I had over £4k in it, and didn't get any interest for the final part month. Luckily I closed it on the 5th so lost less that a fiver.
I was still kicking myself though.